Residential Income Property with Arizona
For Sale
$190,000
10038 W LANCASTER Drive, Sun City, AZ 85351
Two generously sized rooms, ample storage, and an Arizona room oriented toward a private rear patio.
Property Size1,224 SF
Price / SF$155.23
Days on Market780
Property Features for 10038 W LANCASTER Drive
General Information
Standard status
Active
Size
1,224 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$476
Building Details
Building Size
1,224 SF
Year Built
1972
Listing Agency:
Ghanem K Algarawi
Listed By:
Ghanem Algarawi · License #BR523047000
(480) 347-6829
Source:
1912realty
Added: Sep 11, 2024
Changed: Oct 26
Last Checked: Oct 26 at 3:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ghanem K Algarawi
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property was built in 1972 and contains 1,224 square feet. The interior includes two generously sized rooms and substantial storage. An Arizona room provides a connection to the private back patio.
Key Highlights
- 1,224‑square‑foot residential income property built in 1972
- Two generously sized rooms
- Arizona room with a view toward the private back patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,814
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,280
$276.3K
Cap Rate 7%
$197,343
$197.3K
Cap Rate 9%
$153,489
$153.5K
Market Conditions
NOI Build-Up for 1,224 SF
Gross rent
$26.4K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$25.1K $20.52/SF
− OpEx
−$11.3K −$9.23/SF
NOI
$13.8K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,280
Cap Rate 7%
$197,343
Cap Rate 9%
$153,489
Alternative Uses
Best Use
Apartment 5plus
$197.3K
$172.7K – $230.2K
NOI $13,814 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.6K
$331.3K – $441.7K
NOI $26,503 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 85351, AZ
29,795
Population
20,414
Households
1.5
Avg Household Size
73
Median Age
24%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
2,733
Density / Sq Mi
$50,812
Median Household Income
$29,786
Median Earnings
$1,477
Median Rent
$250,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Two generously sized rooms, ample storage, and an Arizona room oriented toward a private rear patio.
Where is this residential income property located?
The property is located at 10038 W LANCASTER Drive Sun City, AZ.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,224‑square‑foot residential income property built in 1972; Two generously sized rooms; Arizona room with a view toward the private back patio
