Remodeled End-Unit Residential Income
For Sale
$360,000
101 N 7TH Street 267, Phoenix, AZ 85034
Updated residence with generous windows, city views, and access to shared recreation and fitness amenities.
Property Size1,259 SF
Days on Market139
Property Features for 101 N 7TH Street 267
General Information
Standard status
Active
Size
1,259 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,713
Building Details
Building Size
1,259 SF
Year Built
1986
Listing Agency:
HomeSmart
Listed By:
Donna Harris
(602) 549-8208
Source:
Jcluxuryresidential
Added: Apr 17
Changed: Aug 27
Last Checked: Sep 2 at 2:24AM
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 HomeSmart
Investment Insights
Based on property information with market context.
This remodeled second-level end unit at Renaissance Park includes two bedrooms and two bathrooms. Interior improvements include white shaker cabinetry, granite countertops, rounded interior corners, an electric fireplace with stone surrounds, and spacious bedrooms. The bathrooms feature updated cabinetry, granite counters, and tiled showers. Numerous windows provide city views, while the community offers a pool, two spas, a clubhouse, and a workout facility. Built in 1986, the property is positioned in downtown Phoenix at 101 N 7TH Street. The Phoenix Science Center, Children’s Museum, Phoenix Convention Center, Heritage Square, Chase Field, restaurants, and entertainment venues are accessible on foot.
Key Highlights
- Remodeled second‑level end unit at Renaissance Park
- Two‑bedroom, two‑bathroom layout
- White shaker cabinets and granite countertops
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
$14,684
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
4.08%
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%
$293,680
$293.7K
Cap Rate 7%
$209,771
$209.8K
Cap Rate 9%
$163,156
$163.2K
Market Conditions
NOI Build-Up for 1,259 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
$28.4K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$26.7K $21.21/SF
− OpEx
−$12.0K −$9.54/SF
NOI
$14.7K $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%
$293,680
Cap Rate 7%
$209,771
Cap Rate 9%
$163,156
Alternative Uses
Best Use
Apartment 5plus
$209.8K
$183.6K – $244.7K
NOI $14,684 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.4K
$333.7K – $444.9K
NOI $26,695 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated residence with generous windows, city views, and access to shared recreation and fitness amenities.
Where is this residential income property located?
The property is located at 101 N 7TH Street 267 Phoenix, AZ.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Remodeled second‑level end unit at Renaissance Park; Two‑bedroom, two‑bathroom layout; White shaker cabinets and granite countertops
