Two-Bedroom Residential Income
For Sale
$314,000
1107 W OSBORN Road 114, Phoenix, AZ 85013
Condominium residence with updated finishes, private outdoor space, and off-street parking in a boutique community.
Property Size1,106 SF
Days on Market16
Property Features for 1107 W OSBORN Road 114
General Information
Standard status
Active
Size
1,106 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$602
Amenities
private patio
laundry
off-street parking
Building Details
Building Size
1,106 SF
Year Built
1950
Listing Agency:
Compass
Listed By:
Raleigh Dombek
(602) 258-6789
Source:
Alexiabertsatos
Added: Sep 3
Changed: Sep 17
Last Checked: Sep 16 at 10:14PM
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 Compass
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath condominium in a 39-residence community built in 1950. The layout includes oversized bedrooms, open living and dining areas, and a private patio. Interior improvements include an updated kitchen with a dishwasher, laundry, cooktop, and wall oven, along with an updated primary bathroom. New windows and doors are also noted throughout the residence.
The property is near Phoenix’s Melrose District and offers access to Downtown Phoenix, light rail, dining, coffee shops, nightlife, and everyday amenities. Ample off-street parking provides additional convenience, while the residence includes space suited to working from home, entertaining, and daily living.
The property is near Phoenix’s Melrose District and offers access to Downtown Phoenix, light rail, dining, coffee shops, nightlife, and everyday amenities. Ample off-street parking provides additional convenience, while the residence includes space suited to working from home, entertaining, and daily living.
Key Highlights
- Two‑bedroom, two‑bath condominium in a 39‑residence community
- Built in 1950 with new windows and doors throughout
- Updated kitchen with dishwasher, laundry, cooktop, and wall oven
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
$12,900
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
4.11%
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%
$258,000
$258.0K
Cap Rate 7%
$184,286
$184.3K
Cap Rate 9%
$143,333
$143.3K
Market Conditions
NOI Build-Up for 1,106 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
$25.0K $22.56/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$23.5K $21.21/SF
− OpEx
−$10.6K −$9.54/SF
NOI
$12.9K $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%
$258,000
Cap Rate 7%
$184,286
Cap Rate 9%
$143,333
Alternative Uses
Best Use
Apartment 5plus
$184.3K
$161.3K – $215.0K
NOI $12,900 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$335.0K
$293.1K – $390.9K
NOI $23,451 @ 7.0% cap · market cap 7.47%
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
2,764
Businesses Nearby
Explore this area
Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated finishes, private outdoor space, and off-street parking in a boutique community.
Where is this residential income property located?
The property is located at 1107 W OSBORN Road 114 Phoenix, AZ.
What is the asking price?
The asking price for this property is $314,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium in a 39‑residence community; Built in 1950 with new windows and doors throughout; Updated kitchen with dishwasher, laundry, cooktop, and wall oven
