Updated Residential Income
For Sale
$254,900
10309 W CORTE DEL SOL ESTE, Sun City, AZ 85351
Two-bedroom condo with renovated interiors, recent major-system updates, and an attached garage.
Property Size1,348 SF
Price / SF$189.09
Days on Market174
Property Features for 10309 W CORTE DEL SOL ESTE
General Information
Standard status
Active
Size
1,348 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$806
Building Details
Year Built
1965
Listing Agency:
HomeSmart
(480) 324-6111
Listed By:
Miles M Zimbaluk · License #SA690994000
(480) 324-6111
Source:
Exitrealty
Added: Mar 10
Changed: Aug 30
Last Checked: Aug 30 at 6:23AM
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 1,348-square-foot, two-bedroom, two-bath condo combines an open interior layout with extensive updates. Improvements include laminate flooring, a remodeled kitchen with granite countertops and stainless steel appliances, and refreshed bathrooms. The primary bath includes a marble walk-in shower. A fully finished 200-square-foot Arizona room expands the usable living area, while the property is offered furnished with furnishings less than two years old.
Major system work includes a new HVAC installed in 2024, new sewer lines completed in 2025, double-pane windows, and a roof replaced in 2018. An attached garage adds on-site vehicle storage. Built in 1965, the condo is located in a cul-de-sac in Sun City, Arizona.
Major system work includes a new HVAC installed in 2024, new sewer lines completed in 2025, double-pane windows, and a roof replaced in 2018. An attached garage adds on-site vehicle storage. Built in 1965, the condo is located in a cul-de-sac in Sun City, Arizona.
Key Highlights
- 1,348‑square‑foot, two‑bedroom, two‑bath condo
- Fully finished 200‑square‑foot Arizona room
- Remodeled kitchen with granite countertops and stainless steel appliances
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
$15,214
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
5.97%
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%
$304,280
$304.3K
Cap Rate 7%
$217,343
$217.3K
Cap Rate 9%
$169,044
$169.0K
Market Conditions
NOI Build-Up for 1,348 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
$29.1K $21.60/SF
− Vacancy
−$1.5K −$1.08/SF
EGI
$27.7K $20.52/SF
− OpEx
−$12.4K −$9.23/SF
NOI
$15.2K $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 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%
$304,280
Cap Rate 7%
$217,343
Cap Rate 9%
$169,044
Alternative Uses
Best Use
Apartment 5plus
$217.3K
$190.2K – $253.6K
NOI $15,214 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.0K
$364.9K – $486.5K
NOI $29,188 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
304
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo with renovated interiors, recent major-system updates, and an attached garage.
Where is this residential income property located?
The property is located at 10309 W CORTE DEL SOL ESTE Sun City, AZ.
What is the asking price?
The asking price for this property is $254,900.
What are key features of this property?
This property features: 1,348‑square‑foot, two‑bedroom, two‑bath condo; Fully finished 200‑square‑foot Arizona room; Remodeled kitchen with granite countertops and stainless steel appliances
