8500 E Indian School Rd #239 · Scottsdale, AZ 85251

$203,000

1 bd · 1.0 ba · 778 sqft · Condo public records · 106 Days on market

Built 1981 $261/sqft · 19% below area Est $249k · 19% under $296/mo HOA · 18% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +8.7/30.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Winter visitor owned, lightly lived in condo in Old Town Scottsdale area. Open floor plan with great room concept, private balcony, tile and wood floors throughout. Kitchen offers, granite counter tops, upgraded cabinets, Whirlpool appliances, and a stacked Frigidaire washer and dryer. Large bedroom with walk in and secondary closet. Enjoy the pool and spa along with workout facility onsite! Great location near 101 freeway, Old Town Scottsdale, spring training baseball, golf and restaurants galore.

Key facts

• Privacy balcony
• Great room concept
• Workout facility

Tags

• PRIVACY BALCONY
• POOL AND SPA
• WORKOUT FACILITY
• GREAT ROOM CONCEPT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $203k.

Deal economics

• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (17.3% below list).
• Recommended offer: $168k (17.3% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 2.5% in Scottsdale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#4 in AZ, #1,756 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, cost of living F.
• Scottsdale Unified District (4240) (urban): math 53% / reading 55% proficiency, ranked #30 of 249 in AZ (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cheyenne Traditional School (math 78% / reading 75%, grade A, #24 of 1,109 statewide, top 2%, 880 students, 4% FRL); Mohave Middle School (math 45% / reading 48%, grade D+, #43 of 218 statewide, top 20%, 799 students, 31% FRL); Saguaro High School (math 37% / reading 41%, grade F, #78 of 381 statewide, top 20%, 1,466 students, 25% FRL) — zoned schools at 20% FRL track the district average.
• Market conditions: Rents soft (-1.6%/yr); 584 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Maricopa County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $57k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $203k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,944 (17.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 5.28%
• Cash-on-cash: -3.63%
• DSCR: 0.84
• GRM: 10.1

CMA / ARV

• ARV (median comp): $249,353
• List price: $203,000
• Delta: -18.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -26.0%
• Equity multiple: 0.14×
• Total profit: $-48,692
• Equity at exit: $30,268

10-year hold

• IRR: -38.2%
• Equity multiple: -0.32×
• Total profit: $-75,190
• Equity at exit: $17,552

Cash invested: $56,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85251

• Rents YoY: -1.6%
• Active inventory: 584
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,679 high
• Mortgage (P&I): −$1,065
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$85
• HOA: −$296
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-172

Break-even live

Break-even rent $1,897

Max offer price $172,602

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-115	+0% $-172	+5% $-230	+10% $-287
Rent	-10% $-305	-5% $-238	+0% $-172	+5% $-106	+10% $-39
Rate	-1.0pp $-70	-0.5pp $-120	base $-172	+0.5pp $-225	+1.0pp $-278

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8576 E Indian School Rd Unit B Scottsdale, AZ	1.0	1.0	800	$2,200	$2.75	45d	1	0.07mi
8500 E Indian School Rd #231 Scottsdale, AZ	1.0	1.0	800	$1,425	$1.78	26d	1	0.07mi
8566 E Indian School Rd Unit B Scottsdale, AZ	1.0	1.0	609	$1,800	$2.96	26d	1	0.09mi
4354 N 82nd Pl Scottsdale, AZ	1.0	1.0	790	$1,299	$1.64	1d	1	0.40mi
4200 N 82nd St Scottsdale, AZ	2.0	2.0	1031	$2,038	$1.98	22d	3	0.48mi
8113 E Glenrosa Ave Scottsdale, AZ	2.0	1.0	904	$1,595	$1.76	5d	1	0.54mi
4354 N 82nd St Scottsdale, AZ	1.0–2.0	1.0–2.0	888	$1,299	$1.46	6d	8	0.57mi
4354 N 82nd St Scottsdale, AZ	1.0–2.0	1.0–2.0	888	$1,399	$1.58	3d	7	0.57mi
4354 N 82nd St Scottsdale, AZ	1.0–2.0	1.0–2.0	888	$2,300	$2.59	45d	3	0.57mi
4354 N 82nd St Scottsdale, AZ	1.0–2.0	1.0–2.0	888	$1,349	$1.52	26d	4	0.57mi
4354 N 82nd St Scottsdale, AZ	1.0–2.0	1.0–2.0	888	$1,299	$1.46	1d	7	0.57mi
8507 E Hazelwood St Unit Guest H Scottsdale, AZ	1.0	1.0	529	$3,400	$6.43	45d	1	0.58mi
8037 E Glenrosa Ave Scottsdale, AZ	2.0	1.0	907	$1,599	$1.76	26d	1	0.60mi
3600 Hayden Rd Unit 1546274P Scottsdale, AZ	1.0	1.0	721	$1,863	$2.58	15d	1	0.80mi
3500 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	840	$2,500	$2.98	45d	3	0.84mi
3500 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	843	$1,550	$1.84	1d	10	0.84mi
3600 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	843	$1,595	$1.89	1d	6	0.86mi
3600 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	848	$1,595	$1.88	7d	10	0.86mi
3600 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	848	$1,299	$1.53	9d	11	0.86mi
3600 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	848	$2,379	$2.80	45d	8	0.86mi
3600 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	848	$1,625	$1.92	5d	9	0.86mi
3600 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	848	$1,329	$1.57	22d	9	0.86mi
7814 E Heatherbrae Ave Unit B Scottsdale, AZ	2.0	2.0	923	$2,095	$2.27	6d	1	0.90mi
7979 E Camelback Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	906	$1,145	$1.26	0d	26	0.90mi
8361 E Avalon Dr Scottsdale, AZ	2.0	2.0	1005	$4,600	$4.58	45d	1	0.91mi
4247 N 78th St Scottsdale, AZ	1.0	1.0	640	$1,250	$1.95	26d	1	0.93mi
7802 E Heatherbrae Ave Unit 2 Scottsdale, AZ	2.0	1.0	900	$2,100	$2.33	6d	1	0.93mi
7802 E Heatherbrae Ave #1 Scottsdale, AZ	2.0	1.0	900	$1,699	$1.89	26d	1	0.93mi
4343 N 78th St Scottsdale, AZ	2.0	1.0–2.0	698	$1,302	$1.87	0d	12	0.95mi
4310 N 78th St Unit M Scottsdale, AZ	2.0	1.5	1046	$2,250	$2.15	20d	1	0.97mi
7740 E Heatherbrae Ave Unit 1558700P Scottsdale, AZ	2.0	1.5	957	$2,592	$2.71	5d	1	0.97mi
4120 N 78th St Scottsdale, AZ	1.0	1.0	711	$1,500	$2.11	17d	2	0.98mi
4140 N 78th St Scottsdale, AZ	1.0–2.0	1.0–2.0	875	$1,400	$1.60	5d	17	1.00mi
4120 N 78th St #204 Scottsdale, AZ	1.0	1.0	709	$1,800	$2.54	6d	1	1.01mi
7720 E Heatherbrae Ave Scottsdale, AZ	2.0	2.0	1088	$2,000	$1.84	26d	1	1.04mi
4020 N Parkway Ave Scottsdale, AZ	1.0	1.0	550	$1,195	$2.17	26d	4	1.06mi
7749 E Camelback Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	924	$1,212	$1.31	0d	20	1.09mi
3015 N Hayden Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	842	$1,287	$1.53	1d	10	1.13mi
7601 E 2nd St #24 Scottsdale, AZ	1.0	1.0	803	$5,000	$6.23	20d	1	1.15mi
7601 E 2nd St Scottsdale, AZ	1.0	1.0	752	$4,000	$5.32	45d	2	1.15mi

HOA detail condo

• Monthly dues: $296 · $3,552/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-02
   status $203,000 Pending 106 DOM
2. 2026-06-01
   days on market $203,000 Active 106 DOM
3. 2026-05-31
   days on market $203,000 Active 105 DOM
4. 2026-05-07
   price $220,000 503-char remark

   Show marketing remark (503 chars)

   Winter visitor owned, lightly lived in condo in Old Town Scottsdale area. Open floor plan with great room concept, private balcony, tile and wood floors throughout. Kitchen offers, granite counter tops, upgraded cabinets, Whirlpool appliances, and a stacked Frigidaire washer and dryer. Large bedroom with walk in and secondary closet. Enjoy the pool and spa along with workout facility onsite! Great location near 101 freeway, Old Town Scottsdale, spring training baseball, golf and restaurants galore.

5. 2026-03-25
   price $230,000 503-char remark

   Show marketing remark (503 chars)

   Winter visitor owned, lightly lived in condo in Old Town Scottsdale area. Open floor plan with great room concept, private balcony, tile and wood floors throughout. Kitchen offers, granite counter tops, upgraded cabinets, Whirlpool appliances, and a stacked Frigidaire washer and dryer. Large bedroom with walk in and secondary closet. Enjoy the pool and spa along with workout facility onsite! Great location near 101 freeway, Old Town Scottsdale, spring training baseball, golf and restaurants galore.

6. 2026-03-06
   price $240,000 503-char remark

   Show marketing remark (503 chars)

   Winter visitor owned, lightly lived in condo in Old Town Scottsdale area. Open floor plan with great room concept, private balcony, tile and wood floors throughout. Kitchen offers, granite counter tops, upgraded cabinets, Whirlpool appliances, and a stacked Frigidaire washer and dryer. Large bedroom with walk in and secondary closet. Enjoy the pool and spa along with workout facility onsite! Great location near 101 freeway, Old Town Scottsdale, spring training baseball, golf and restaurants galore.

7. 2026-02-15
   listed $260,000 Active 503-char remark

   Show marketing remark (503 chars)

   Winter visitor owned, lightly lived in condo in Old Town Scottsdale area. Open floor plan with great room concept, private balcony, tile and wood floors throughout. Kitchen offers, granite counter tops, upgraded cabinets, Whirlpool appliances, and a stacked Frigidaire washer and dryer. Large bedroom with walk in and secondary closet. Enjoy the pool and spa along with workout facility onsite! Great location near 101 freeway, Old Town Scottsdale, spring training baseball, golf and restaurants galore.

8. 2012-08-28
   soldstatus $67,000 Closed 356-char remark

   Show marketing remark (356 chars)

   Great downtown Scottsdale location convenient to shops, restaurants, baseball spring training, night life and convenient access to the 101 freeway. Incredible complex with community pool, spa, exercise facility, BBQ area and lush grass landscaping. Well maintained 1 bedroom unit with granite counter tops, stainless appliances & more...will not last.

9. 2012-07-02
   listed Under Contract Accepting Backups 356-char remark

   Show marketing remark (356 chars)

   Great downtown Scottsdale location convenient to shops, restaurants, baseball spring training, night life and convenient access to the 101 freeway. Incredible complex with community pool, spa, exercise facility, BBQ area and lush grass landscaping. Well maintained 1 bedroom unit with granite counter tops, stainless appliances & more...will not last.

10. 2012-06-29
    soldstatus $67,000 Closed 356-char remark

    Show marketing remark (356 chars)

    Great downtown Scottsdale location convenient to shops, restaurants, baseball spring training, night life and convenient access to the 101 freeway. Incredible complex with community pool, spa, exercise facility, BBQ area and lush grass landscaping. Well maintained 1 bedroom unit with granite counter tops, stainless appliances & more...will not last.

11. 2012-05-02
    status Pending 356-char remark

    Show marketing remark (356 chars)

    Great downtown Scottsdale location convenient to shops, restaurants, baseball spring training, night life and convenient access to the 101 freeway. Incredible complex with community pool, spa, exercise facility, BBQ area and lush grass landscaping. Well maintained 1 bedroom unit with granite counter tops, stainless appliances & more...will not last.

12. 2012-03-29
    historical Under Contract Accepting Backups 356-char remark

    Show marketing remark (356 chars)

    Great downtown Scottsdale location convenient to shops, restaurants, baseball spring training, night life and convenient access to the 101 freeway. Incredible complex with community pool, spa, exercise facility, BBQ area and lush grass landscaping. Well maintained 1 bedroom unit with granite counter tops, stainless appliances & more...will not last.

13. 2012-03-23
    listed $59,900 Active 356-char remark

    Show marketing remark (356 chars)

    Great downtown Scottsdale location convenient to shops, restaurants, baseball spring training, night life and convenient access to the 101 freeway. Incredible complex with community pool, spa, exercise facility, BBQ area and lush grass landscaping. Well maintained 1 bedroom unit with granite counter tops, stainless appliances & more...will not last.

14. 2007-10-27
    soldstatus $183,425
15. 2007-09-10
    historical
16. 2007-09-05
    listed $179,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $644 · $54/mo
• Projected year-2 tax: $1,340 · $112/mo
• Expected delta: +$695/yr (+$58/mo · 107.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥112°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,153
• − Mortgage interest: −$11,371
• − Property taxes: −$644
• − Insurance: −$1,015
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − HOA: −$3,552
• − Depreciation: −$5,905
• Taxable loss: −$5,559
• Est. tax savings @ 24.0%: +$1,334
• After-tax cash flow: $-731/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Scottsdale Unified District (4240)
• NCES district ID: 0407570
• Math proficiency: 53% ▼ -10.00%
• Reading proficiency: 55% ▼ -8.00%
• Median HH income: $70,139
• Composite: 48.02/100
• National rank: #2196
• State rank: #30 of 249 in AZ

Livability — Scottsdale

• Score: 80/100
• State rank: #4
• US rank: #1756

Category grades

Amenities A+ Commute A+ Cost of living F Crime B+ Employment A+ Housing A- Health & safety C- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Scottsdale, AZ
• County: Maricopa County · 4,537,380 people
• City population: 290,846
• Metro: Phoenix-Mesa-Chandler, AZ
• Population (ZIP): 40,780
• Household income: $92,851
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2259.0

Population outlook (Maricopa County) Hauer SSP2

• Today (2025): 4,979,203 people
• By 2030: 5,378,229 · +8.0%
• By 2040: 6,156,598 · +23.6%
• By 2050: 6,872,376 · +38.0%
• By 2075: 8,401,270 · +68.7%
• By 2100: 9,247,439 · +85.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 10% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 5% Romanian 3% Portuguese 3%
• Foreign-born: 9% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Maricopa

• 2024 margin: Toss-up / Even · D 47.7% · R 51.2% · Other 1.1%
• 2008→2024 swing: +7.1pp toward D · 2008: -10.6pp · 2024: -3.5pp
• All cycles: 2024: R+3.5 2020: D+2.2 2016: R+3.5 2012: R+12.0 2008: R+10.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -672.80%
• Current HPI: 372.433
• Rent YoY: ▼ -1.58%
• Metro: Phoenix-Mesa-Chandler, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+22.3% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $220,000 ARMLS
• 2026-03-25 Price Changed $230,000 ARMLS
• 2026-03-06 Price Changed $240,000 ARMLS
• 2026-02-15 Listed $260,000 ARMLS
• 2012-08-28 Sold (MLS) $67,000 ARMLS
• 2012-07-02 Listed — ARMLS
• 2012-06-29 Sold (MLS) $67,000 ARMLS
• 2012-05-02 Pending — ARMLS
• 2012-03-29 Contingent — ARMLS
• 2012-03-23 Listed $59,900 ARMLS
• 2007-10-27 Sold (MLS) $183,425 ARMLS
• 2007-09-10 Listing Removed — ARMLS
• 2007-09-05 Listed $179,900 ARMLS

Property tax history

-1.6%/yr

Latest (2025): $644 · +4.4% YoY. Source: county tax records.