825 N Hayden Rd Unit C104 · Scottsdale, AZ 85257

$119,900

2 bd · 1.0 ba · 773 sqft · Condo · 82 Days on market

Built 1962 $364/mo HOA

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Why this score? — see what drove the B- 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).

• Cash flow +21.8/30.0
• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• DSCR +7.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ground-floor 2-bdrm+den condo, backing to a private greenbelt and community garden, offering peaceful views and added privacy. The home features an updated, fully equipped kitchen and full bath, creating a comfortable and functional space perfect for year-round living or a seasonal retreat.This co-op community offers a unique ownership opportunity with a cash-only purchase, no rentals permitted, and a quick, straightforward board and credit approval process. Ownership includes a lifetime membership with no title fees.The $364 monthly fee provides exceptional value and covers property taxes, blanket insurance, water, sewer, garbage, exterior pest control, and major system maintenance including A/C, heating, water heater, electrical, and in-wall plumbing. Residents enjoy access to numerous community amenities including multiple pools, laundry facilities, sport courts, and picnic and play areas. Ideally located in the heart of Scottsdale with convenient access to freeways, shopping, dining, schools, parks, public transportation, and the free Scottsdale trolley. This is an excellent opportunity for winter visitors, ASU students, or anyone seeking low-maintenance living in a prime location.

Key facts

• Community amenities
• Community garden
• Full bath

Tags

• PRIVATE GREENBELT
• COMMUNITY GARDEN
• UPDATED KITCHEN
• FULL BATH
• COMMUNITY AMENITIES
• MULTIPLE POOLS

🏢 Co-op / cooperative unit. The $119,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Market conditions: Rents rising (+2.8%/yr); 262 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $829 of loan paydown is wiped out by about $4k 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 82 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $31k; list at $120k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 1.46% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 5.7

CMA / ARV

• ARV (median comp): $198,500
• List price: $119,900
• Delta: -39.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.8% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-7,639
• Equity at exit: $17,877

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $8,242
• Equity at exit: $10,367

Cash invested: $33,572 (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 85257

• Rents YoY: 2.8%
• Active inventory: 262
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,746 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$364
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $187

Break-even live

Break-even rent $1,510

Max offer price $119,900

Occupancy floor 84%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8155 E Roosevelt St #110 Scottsdale, AZ	2.0	2.0	939	$2,100	$2.24	43d	1	0.06mi
8030 E Garfield St Unit 06 Scottsdale, AZ	1.0	1.0	696	$1,299	$1.87	20d	1	0.09mi
7902 E Kimsey Ln Scottsdale, AZ	3.0	2.0	1066	$3,200	$3.00	43d	1	0.20mi
885 N Granite Reef Rd Scottsdale, AZ	2.0	2.0–2.5	1000	$1,462	$1.46	13d	1	0.38mi
985 N Granite Reef Rd Scottsdale, AZ	2.0	2.0–2.5	1020	$1,662	$1.63	4d	9	0.40mi
935 N Granite Reef Rd Unit 126A Scottsdale, AZ	2.0	2.0	855	$1,599	$1.87	4d	1	0.42mi
935 N Granite Reef Rd #87 Scottsdale, AZ	2.0	2.0	855	$1,599	$1.87	17d	1	0.42mi
935 N Granite Reef Rd Unit 141 Scottsdale, AZ	2.0	2.0	855	$1,599	$1.87	24d	1	0.42mi
985 N Granite Reef Rd Scottsdale, AZ	2.0	2.0–2.5	1022	$1,382	$1.35	18d	8	0.42mi
835 N Granite Reef Rd #18 Scottsdale, AZ	2.0	2.0	855	$1,450	$1.70	1d	1	0.43mi
835 N Granite Reef Rd Unit 6A Scottsdale, AZ	2.0	2.0	855	$1,499	$1.75	5d	1	0.43mi
1261 N Granite Reef Rd Scottsdale, AZ	2.0	1.5	950	$1,500	$1.58	24d	1	0.53mi
8529 E Portland St Scottsdale, AZ	2.0	1.0	936	$1,425	$1.52	21d	1	0.54mi
8535 E Belleview St Scottsdale, AZ	2.0	2.0	937	$1,995	$2.13	18d	1	0.61mi
1254 N 85th Pl Scottsdale, AZ	2.0	1.5	950	$1,599	$1.68	20d	1	0.61mi
525 N Miller Rd #145 Scottsdale, AZ	2.0	2.0	945	$2,100	$2.22	43d	1	0.62mi
8530 E Belleview St Scottsdale, AZ	2.0	1.5	950	$1,800	$1.89	14d	1	0.63mi
303 N Miller Rd #1005 Scottsdale, AZ	2.0	1.0	850	$1,275	$1.50	7d	1	0.63mi
1350 N 85th Pl Scottsdale, AZ	2.0	2.0	936	$1,525	$1.63	24d	1	0.63mi
1346 N 85th Pl Scottsdale, AZ	2.0	1.5	950	$1,749	$1.84	24d	1	0.63mi
1346 N 85th Pl Scottsdale, AZ	2.0	2.0	950	$1,745	$1.84	21d	1	0.63mi
848 N 86th Pl Scottsdale, AZ	3.0	2.0	1100	$2,512	$2.28	14d	1	0.64mi
1221 N 85th Pl Apt 204 Scottsdale, AZ	1.0	1.0	602	$1,395	$2.32	20d	1	0.64mi
525 N Miller Rd Scottsdale, AZ	2.0	2.0	1028	$2,000	$1.94	7d	2	0.65mi
525 N Miller Rd Scottsdale, AZ	2.0–3.0	2.0–3.0	1173	$1,100	$0.94	4d	3	0.65mi
1221 N 85th Pl Unit 109 Scottsdale, AZ	2.0	2.0	863	$1,795	$2.08	13d	1	0.65mi
1221 N 85th Pl Unit 101 Scottsdale, AZ	1.0	1.0	602	$1,395	$2.32	3d	1	0.65mi
1217 N Miller Rd #14 Scottsdale, AZ	2.0	2.0	1026	$1,950	$1.90	24d	1	0.66mi
1406 N 85th Pl Scottsdale, AZ	2.0	2.0	1009	$1,541	$1.53	3d	1	0.67mi
1406 N 85th Pl Scottsdale, AZ	1.0	1.0	650	$1,357	$2.09	24d	1	0.67mi
7602 E Polk St Unit 101 Scottsdale, AZ	2.0	1.0	720	$1,475	$2.05	2d	1	0.69mi
303 N Miller Rd Scottsdale, AZ	2.0	1.0	850	$1,238	$1.46	2d	2	0.71mi
1251 N Miller Rd Scottsdale, AZ	1.0	1.0	600	$1,615	$2.69	7d	1	0.74mi
8625 E Belleview Pl #1069 Scottsdale, AZ	2.0	2.0	917	$1,800	$1.96	24d	1	0.77mi
8550 E McDowell Rd Scottsdale, AZ	1.0–2.0	1.0–2.0	823	$1,687	$2.05	2d	5	0.79mi
8407 E Coronado Rd Unit 4 Scottsdale, AZ	1.0	1.0	821	$999	$1.22	24d	1	0.81mi
8407 E Coronado Rd Unit 5 Scottsdale, AZ	1.0	1.0	821	$999	$1.22	17d	1	0.81mi
8625 E Belleview Pl Scottsdale, AZ	2.0	2.0	908	$1,775	$1.95	3d	3	0.81mi
8521 E McDowell Rd Unit 1374247P Scottsdale, AZ	2.0	2.0	936	$2,335	$2.49	7d	1	0.81mi
8444 E Coronado Rd Apt 2 Scottsdale, AZ	2.0	2.0	1022	$1,850	$1.81	24d	1	0.87mi

HOA detail condo

• Monthly dues: $364 · $4,368/yr
• Likely covers: watersewertrashelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $119,900 Active 82 DOM
2. 2026-06-17
   days on market $119,900 Active 81 DOM
3. 2026-06-16
   days on market $119,900 Active 80 DOM
4. 2026-06-15
   days on market $119,900 Active 79 DOM
5. 2026-06-13
   days on market $119,900 Active 77 DOM
6. 2026-06-13
   days on market $119,900 Active 76 DOM
7. 2026-06-09
   days on market $119,900 Active 73 DOM
8. 2026-06-08
   days on market $119,900 Active 72 DOM
9. 2026-06-07
   days on market $119,900 Active 71 DOM
10. 2026-06-04
    days on market $119,900 Active 68 DOM
11. 2026-06-03
    days on market $119,900 Active 67 DOM
12. 2026-06-02
    days on market $119,900 Active 66 DOM
13. 2026-06-01
    days on market $119,900 Active 65 DOM
14. 2026-05-31
    days on market $119,900 Active 64 DOM
15. 2026-03-28
    listed $119,900 Active 1207-char remark

    Show marketing remark (1207 chars)

    Ground-floor 2-bdrm+den condo, backing to a private greenbelt and community garden, offering peaceful views and added privacy. The home features an updated, fully equipped kitchen and full bath, creating a comfortable and functional space perfect for year-round living or a seasonal retreat.This co-op community offers a unique ownership opportunity with a cash-only purchase, no rentals permitted, and a quick, straightforward board and credit approval process. Ownership includes a lifetime membership with no title fees.The $364 monthly fee provides exceptional value and covers property taxes, blanket insurance, water, sewer, garbage, exterior pest control, and major system maintenance including A/C, heating, water heater, electrical, and in-wall plumbing. Residents enjoy access to numerous community amenities including multiple pools, laundry facilities, sport courts, and picnic and play areas. Ideally located in the heart of Scottsdale with convenient access to freeways, shopping, dining, schools, parks, public transportation, and the free Scottsdale trolley. This is an excellent opportunity for winter visitors, ASU students, or anyone seeking low-maintenance living in a prime location.

16. 2003-08-29
    soldstatus $30,900 440-char remark

    Show marketing remark (440 chars)

    RARE DOWNSTAIRS APT WITH ENCLOSED PATIO FOR 80 S/F MORE ON GREENBELT. TILE THROUGHOUT. NO TITLE USED BUYER GETS CERTIFICATE OF MEMBERSHIP AT TRANSFER, MUST BE CREDIT & BOARD APPROVED. HOA COVERS:TAXES!INSUR, WATER, SEWER,GARB, ENTIRE BUILD, 7 SPARKLING SWIMMING POOLS, LAUNDRY FACILITIES (ON BOTH FLOORS IN EVERY BUILD.)A/C UNIT,WATER HEATER, AND ALL ELECTRICAL & PLUMBING IN WALLS COVERED! MUST BE OWNER OCCUPIED NO RENTALS ALLOWED

17. 2003-07-28
    historical 440-char remark

    Show marketing remark (440 chars)

    RARE DOWNSTAIRS APT WITH ENCLOSED PATIO FOR 80 S/F MORE ON GREENBELT. TILE THROUGHOUT. NO TITLE USED BUYER GETS CERTIFICATE OF MEMBERSHIP AT TRANSFER, MUST BE CREDIT & BOARD APPROVED. HOA COVERS:TAXES!INSUR, WATER, SEWER,GARB, ENTIRE BUILD, 7 SPARKLING SWIMMING POOLS, LAUNDRY FACILITIES (ON BOTH FLOORS IN EVERY BUILD.)A/C UNIT,WATER HEATER, AND ALL ELECTRICAL & PLUMBING IN WALLS COVERED! MUST BE OWNER OCCUPIED NO RENTALS ALLOWED

18. 2003-05-29
    listed $32,500 440-char remark

    Show marketing remark (440 chars)

    RARE DOWNSTAIRS APT WITH ENCLOSED PATIO FOR 80 S/F MORE ON GREENBELT. TILE THROUGHOUT. NO TITLE USED BUYER GETS CERTIFICATE OF MEMBERSHIP AT TRANSFER, MUST BE CREDIT & BOARD APPROVED. HOA COVERS:TAXES!INSUR, WATER, SEWER,GARB, ENTIRE BUILD, 7 SPARKLING SWIMMING POOLS, LAUNDRY FACILITIES (ON BOTH FLOORS IN EVERY BUILD.)A/C UNIT,WATER HEATER, AND ALL ELECTRICAL & PLUMBING IN WALLS COVERED! MUST BE OWNER OCCUPIED NO RENTALS ALLOWED

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥112°F today · 14 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: $20,951
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − HOA: −$4,368
• − Depreciation: −$3,488
• Taxable income: $629
• Est. tax owed @ 24.0%: −$151
• After-tax cash flow: $2,089/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): 29,812
• Household income: $86,962
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 1086.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 13% Black 4% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 3% Romanian 3% Italian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Korean 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: ▼ -411.72%
• Current HPI: 412.043
• Rent YoY: ▲ 2.80%
• 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

+268.9% since first listed

4 events — show timeline

• 2026-03-28 Listed $119,900 ARMLS
• 2003-08-29 Sold (MLS) $30,900 ARMLS
• 2003-07-28 Listing Removed — ARMLS
• 2003-05-29 Listed $32,500 ARMLS