Two-Suite
For Sale
$235,000
10410 N CAVE CREEK Road #1009, Phoenix, AZ 85020
Residents have access to a gated community with three heated pools, spas, and courts for several sports.
Property Size1,038 SF
Days on Market64
Property Features for 10410 N CAVE CREEK Road #1009
General Information
Standard status
Active
Size
1,038 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
gated community
wood-burning beehive fireplace
private patio
community walking path
three heated pools and spas
pickleball courts
tennis courts
basketball courts
Building Details
Building Size
1,038 SF
Year Built
1986
Stories
1
Listing Agency:
Russ Lyon Sotheby's International Realty
Listed By:
Aneezah Nabee Hawkins
(480) 287-5200
Source:
Kwelsalvador.kw
Added: Aug 4
Changed: Oct 6
Last Checked: Oct 6 at 1:53PM
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 Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1986, this ground-floor corner condo has two bedrooms arranged as separate primary suites, each with a private bathroom. The great room includes a wood-burning beehive fireplace and opens onto a private patio oriented toward the community walking path. A newer HVAC system is also in place.
The gated community permits short-term rentals and offers three heated pools and spas, plus pickleball, tennis, and basketball courts. Hiking trails, dining, shopping, and major freeways are minutes away.
The gated community permits short-term rentals and offers three heated pools and spas, plus pickleball, tennis, and basketball courts. Hiking trails, dining, shopping, and major freeways are minutes away.
Key Highlights
- Two‑bedroom floor plan with two primary suites and private bathrooms
- Ground‑floor corner unit with a patio facing the community walking path
- Wood‑burning beehive fireplace in the great room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,107
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$242,140
$242.1K
Cap Rate 7%
$172,957
$173.0K
Cap Rate 9%
$134,522
$134.5K
Market Conditions
NOI Build-Up for 1,038 SF
Gross rent
$23.4K $22.56/SF
− Vacancy
−$1.4K −$1.35/SF
EGI
$22.0K $21.21/SF
− OpEx
−$9.9K −$9.54/SF
NOI
$12.1K $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 Rate 5%
$242,140
Cap Rate 7%
$172,957
Cap Rate 9%
$134,522
Alternative Uses
Best Use
Apartment 5plus
$173.0K
$151.3K – $201.8K
NOI $12,107 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.4K
$275.1K – $366.8K
NOI $22,009 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Residents have access to a gated community with three heated pools, spas, and courts for several sports.
Where is this residential income property located?
The property is located at 10410 N CAVE CREEK Road #1009 Phoenix, AZ.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two‑bedroom floor plan with two primary suites and private bathrooms; Ground‑floor corner unit with a patio facing the community walking path; Wood‑burning beehive fireplace in the great room
