Gated End-Unit Residential Income
For Sale
$350,000
101 N 7th St #144, Phoenix, AZ 85034
Updated two-bedroom unit with private patio, in-unit laundry, refreshed finishes, and access to a landscaped gated community.
Property Size1,161 SF
Price / SF$301.46
Days on Market14
Property Features for 101 N 7th St #144
General Information
Standard status
Active
Size
1,161 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
gated complex
lazy river
ponds
Spool
BBQ area
inside laundry
walk in closets
private patio
Building Details
Year Built
1986
Listing Agency:
Long Realty Company
(480) 233-3348
Listed By:
arrt of Real Estate / Amelia Goudeau
(602) 460-5545
Source:
Arrtofrealestate
Added: Sep 19
Changed: Oct 1
Last Checked: Oct 1 at 11:45AM
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 Long Realty Company
Investment Insights
Based on property information with market context.
This 1,161-square-foot end unit in a residential income property features two bedrooms, a spacious living room, an open kitchen, a dining area, walk-in closets, and ample storage. The second bedroom includes a private patio, while interior improvements include updated kitchen and bathroom cabinetry, quartz countertops, 18' diagonal tile, plush bedroom carpet, and a new AC unit. A refrigerator and washer and dryer are included.
The gated community offers landscaped grounds with grass and trees, a lazy river, ponds, and a large spool and BBQ area adjacent to the unit. The property is at 101 N 7th St #144 in Phoenix, with downtown destinations nearby. Furniture is also available.
The gated community offers landscaped grounds with grass and trees, a lazy river, ponds, and a large spool and BBQ area adjacent to the unit. The property is at 101 N 7th St #144 in Phoenix, with downtown destinations nearby. Furniture is also available.
Key Highlights
- 1,161‑square‑foot end unit with two bedrooms
- Second bedroom includes a private patio
- Updated kitchen and baths with new cabinets and quartz counters
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,541
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$270,820
$270.8K
Cap Rate 7%
$193,443
$193.4K
Cap Rate 9%
$150,456
$150.5K
Market Conditions
NOI Build-Up for 1,161 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.2K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$24.6K $21.21/SF
− OpEx
−$11.1K −$9.54/SF
NOI
$13.5K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$270,820
Cap Rate 7%
$193,443
Cap Rate 9%
$150,456
Alternative Uses
Best Use
Apartment 5plus
$193.4K
$169.3K – $225.7K
NOI $13,541 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.7K
$307.7K – $410.3K
NOI $24,617 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 85034, AZ
5,033
Population
2,901
Households
1.7
Avg Household Size
32
Median Age
32%
College-Educated
81%
High-School Grad
11.6 sq mi
ZIP Area
434
Density / Sq Mi
$53,545
Median Household Income
$43,236
Median Earnings
$1,205
Median Rent
$397,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom unit with private patio, in-unit laundry, refreshed finishes, and access to a landscaped gated community.
Where is this residential income property located?
The property is located at 101 N 7th St #144 Phoenix, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,161‑square‑foot end unit with two bedrooms; Second bedroom includes a private patio; Updated kitchen and baths with new cabinets and quartz counters
