Remodeled Residential Income
For Sale
$315,000
1107 W Osborn Rd #118, Phoenix, AZ 85013
Ground-floor condo with updated interiors, private patio, covered parking, and access to a community pool.
Property Size1,168 SF
Price / SF$269.69
Days on Market49
Property Features for 1107 W Osborn Rd #118
General Information
Standard status
Active
Size
1,168 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
community pool
private patio
Building Details
Year Built
1950
Listing Agency:
1St Dream Realty
(602) 353-7034
Listed By:
House of AZ
(602) 353-7034
Source:
Houseofarizona
Added: Jul 12
Changed: Aug 27
Last Checked: Aug 28 at 10:15AM
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 1St Dream Realty
Investment Insights
Based on property information with market context.
This ground-floor condo at 1107 W Osborn Rd #118 offers 1,168 square feet with a two-bedroom, one-bath layout. The residence was built in 1950 and has been remodeled with updated flooring, a modern kitchen, stainless steel appliances, and a refreshed bathroom. Living areas provide additional interior space, while a private patio extends the usable area outdoors.
The property is in Midtown Phoenix, minutes from Downtown Phoenix, restaurants, shopping, Phoenix College, and major freeways. Community amenities include covered parking and pool access.
The property is in Midtown Phoenix, minutes from Downtown Phoenix, restaurants, shopping, Phoenix College, and major freeways. Community amenities include covered parking and pool access.
Key Highlights
- 1,168‑square‑foot ground‑floor condo
- Two‑bedroom, one‑bath layout
- Remodeled interior with updated flooring and modern kitchen
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
$13,623
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
4.32%
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%
$272,460
$272.5K
Cap Rate 7%
$194,614
$194.6K
Cap Rate 9%
$151,367
$151.4K
Market Conditions
NOI Build-Up for 1,168 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
$26.4K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$24.8K $21.21/SF
− OpEx
−$11.1K −$9.54/SF
NOI
$13.6K $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%
$272,460
Cap Rate 7%
$194,614
Cap Rate 9%
$151,367
Alternative Uses
Best Use
Apartment 5plus
$194.6K
$170.3K – $227.1K
NOI $13,623 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.8K
$309.6K – $412.8K
NOI $24,766 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-floor condo with updated interiors, private patio, covered parking, and access to a community pool.
Where is this residential income property located?
The property is located at 1107 W Osborn Rd #118 Phoenix, AZ.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,168‑square‑foot ground‑floor condo; Two‑bedroom, one‑bath layout; Remodeled interior with updated flooring and modern kitchen
