it was 15:6 near the end of 2011.
Because I am an attorney, I have the type of 1031 expertise that other agents are unable to duplicate.
And in any event, I live in 85254, so am familiar with the offerings in that area.
Cap rates and ROI are best analyzed on a specific property basis. I would caution you to be leery of generalities concerning the subject.
You might find interesting a study which analyzed the benefit of owning v. renting. It will provide you with benchmarks that will be useful to you - besides illustrating why renting is so profitable in Arizona now. If you would like to read that report, and learn more about completion of a 1031 by purchasing rental property in Scottsdale, contact me directly at firstname.lastname@example.org, and visit my webiste for more info on my brokerage.
Here is my Scottsdale Market Stats screen capture for January:
Terry S. Smith
46 year Arizona Resident
Grew up in Scottsdale