7220 E Mary Sharon Dr #111 · Scottsdale, AZ 85266

$479,900

2 bd · 4.0 ba · 1,488 sqft · Condo public records · 84 Days on market

Built 1985 $323/sqft · 16% above area Est $414k · 16% over $341/mo HOA · 8% of rent ↓ 4% since listing

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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).

• Cash flow +13.4/30.0
• Schools +5.4/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in highly desired North Scottsdale, this beautifully updated home offers an exceptional opportunity at a rare price point that's sure to go fast. Recently refreshed with all new interior paint & brand-new flooring throughout, the home features a clean, modern feel from the moment you step inside.The kitchen has been tastefully updated with new quartz countertops, SS appliances, new tiled backsplash, blending style & functionality for everyday living & easy entertaining. The bathrooms have been enhanced with new countertops and updated faucets, creating a fresh, polished look. Thoughtfully improved & move-in ready, this home offers comfortable indoor living and inviting outdoor space perfect for relaxing or hosting, all set w/in one of Scottsdale's most desirable communities.

Key facts

• $341 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/4.0-bath condo listed at $480k.

Deal economics

• At list price, monthly cash flow is $10 ($122/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $403k (16.0% below list).
• Recommended offer: $403k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Cave Creek Unified District (4244) (urban): math 57% / reading 59% proficiency, ranked #13 of 249 in AZ (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 188 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 36,011 units permitted in Maricopa County in 2024 (12,801 in 5+ unit buildings).
• This rent runs 32% of the median local income ($152k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 84 days — a 6% lower offer ($451k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $403,044 (16.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.84% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 9.9

CMA / ARV

• ARV (median comp): $413,747
• List price: $479,900
• Delta: 15.99%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.2%
• Equity multiple: 0.43×
• Total profit: $-77,146
• Equity at exit: $71,555

10-year hold

• IRR: -7.9%
• Equity multiple: 0.51×
• Total profit: $-66,455
• Equity at exit: $41,493

Cash invested: $134,372 (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 85266

• Home prices YoY: -20.5%
• Active inventory: 188
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $4,030 medium
• Mortgage (P&I): −$2,517
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$200
• HOA: −$341
• Vacancy / Maint / Mgmt: −$846
• Net cashflow: $10

Break-even live

Break-even rent $4,018

Max offer price $479,900

Occupancy floor 95%

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: $119,975
• Closing costs: $14,397
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6610 E Dixileta Dr Cave Creek, AZ	3.0	2.0	1610	$3,800	$2.36	44d	1	0.82mi
7232 E Eclipse Dr Scottsdale, AZ	2.0	2.0	1856	$3,500	$1.89	44d	1	1.18mi
6703 E Calle de Las Estrellas Rd Unit 2 Cave Creek, AZ	3.0	2.0	1600	$2,500	$1.56	2d	1	1.24mi
7122 E Aloe Vera Dr Scottsdale, AZ	2.0	2.0	1609	$6,400	$3.98	44d	1	1.49mi

HOA detail condo

• Monthly dues: $341 · $4,092/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $479,900 Active 84 DOM
2. 2026-06-17
   days on market $479,900 Active 83 DOM
3. 2026-06-16
   days on market $479,900 Active 82 DOM
4. 2026-06-15
   days on market $479,900 Active 81 DOM
5. 2026-06-13
   days on market $479,900 Active 79 DOM
6. 2026-06-13
   days on market $479,900 Active 78 DOM
7. 2026-06-09
   days on market $479,900 Active 75 DOM
8. 2026-06-08
   days on market $479,900 Active 74 DOM
9. 2026-06-07
   days on market $479,900 Active 73 DOM
10. 2026-06-04
    days on market $479,900 Active 70 DOM
11. 2026-06-03
    days on market $479,900 Active 69 DOM
12. 2026-06-02
    days on market $479,900 Active 68 DOM
13. 2026-06-01
    days on market $479,900 Active 67 DOM
14. 2026-05-31
    days on market $479,900 Active 66 DOM
15. 2026-05-14
    price $479,900 809-char remark

    Show marketing remark (809 chars)

    Nestled in highly desired North Scottsdale, this beautifully updated home offers an exceptional opportunity at a rare price point that's sure to go fast. Recently refreshed with all new interior paint & brand-new flooring throughout, the home features a clean, modern feel from the moment you step inside.The kitchen has been tastefully updated with new quartz countertops, SS appliances, new tiled backsplash, blending style & functionality for everyday living & easy entertaining. The bathrooms have been enhanced with new countertops and updated faucets, creating a fresh, polished look. Thoughtfully improved & move-in ready, this home offers comfortable indoor living and inviting outdoor space perfect for relaxing or hosting, all set w/in one of Scottsdale's most desirable communities.

16. 2026-03-30
    price $489,900 809-char remark

    Show marketing remark (809 chars)

    Nestled in highly desired North Scottsdale, this beautifully updated home offers an exceptional opportunity at a rare price point that's sure to go fast. Recently refreshed with all new interior paint & brand-new flooring throughout, the home features a clean, modern feel from the moment you step inside.The kitchen has been tastefully updated with new quartz countertops, SS appliances, new tiled backsplash, blending style & functionality for everyday living & easy entertaining. The bathrooms have been enhanced with new countertops and updated faucets, creating a fresh, polished look. Thoughtfully improved & move-in ready, this home offers comfortable indoor living and inviting outdoor space perfect for relaxing or hosting, all set w/in one of Scottsdale's most desirable communities.

17. 2026-03-26
    listed $499,900 Active 809-char remark

    Show marketing remark (809 chars)

    Nestled in highly desired North Scottsdale, this beautifully updated home offers an exceptional opportunity at a rare price point that's sure to go fast. Recently refreshed with all new interior paint & brand-new flooring throughout, the home features a clean, modern feel from the moment you step inside.The kitchen has been tastefully updated with new quartz countertops, SS appliances, new tiled backsplash, blending style & functionality for everyday living & easy entertaining. The bathrooms have been enhanced with new countertops and updated faucets, creating a fresh, polished look. Thoughtfully improved & move-in ready, this home offers comfortable indoor living and inviting outdoor space perfect for relaxing or hosting, all set w/in one of Scottsdale's most desirable communities.

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $3,167 · $264/mo
• Expected delta: +$1,772/yr (+$148/mo · 126.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 67% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,365
• − Mortgage interest: −$26,882
• − Property taxes: −$1,396
• − Insurance: −$2,400
• − Repairs & maintenance: −$3,869
• − Management: −$3,869
• − HOA: −$4,092
• − Depreciation: −$13,961
• Taxable loss: −$8,103
• Est. tax savings @ 24.0%: +$1,945
• After-tax cash flow: $2,066/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: Cave Creek Unified District (4244)
• NCES district ID: 0400001
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -8.00%
• Median HH income: $102,788
• Composite: 54.46/100
• National rank: #1351
• State rank: #13 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): 12,516
• Household income: $151,923
• Rent vs Own: 2.4% rent · 97.6% own
• Severe rent burden: 51.0

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 (86%)
• Race & ethnicity: White 86% Asian 6% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 5% Portuguese 3% Slovak 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 93% English-only · Russian/Polish/Slavic 1% Other Indo-European 1% Spanish 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: ▼ -79.44%
• Current HPI: 308.0227
• Rent YoY: —
• 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

-4.0% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $479,900 ARMLS
• 2026-03-30 Price Changed $489,900 ARMLS
• 2026-03-26 Listed $499,900 ARMLS

Property tax history

+2.4%/yr

Latest (2025): $1,396 · +0.8% YoY. Source: county tax records.