One-Bedroom Residential Income
For Sale
$190,000
1111 E University Drive #201, Tempe, AZ 85288
Second-floor residence with in-unit laundry and assigned covered parking.
Property Size631 SF
Price / SF$301.11
Days on Market28
Property Features for 1111 E University Drive #201
General Information
Standard status
Active
Size
631 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$1,049
Amenities
pool
spa
workout facility
clubhouse
in-unit laundry
Building Details
Building Size
631 SF
Year Built
1981
Stories
2
Listing Agency:
Golden Bull Realty LLC
(480) 335-4013
Listed By:
Thomas Wang · License #BR652976000
(480) 335-4013
Source:
Aznewhorizonrealty
Added: Aug 4
Changed: Aug 30
Last Checked: Aug 30 at 11:55PM
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 Golden Bull Realty LLC
Investment Insights
Based on property information with market context.
This 631-square-foot residential income unit occupies the second floor and includes one bedroom, one bathroom, a kitchen with refrigerator, and an in-unit washer and dryer. The property was built in 1981.
The unit is located at 1111 E University Drive #201 in Tempe, near ASU campus. Each unit in the community has one assigned covered parking space. Shared amenities include a pool, spa, fitness facility, and clubhouse.
The unit is located at 1111 E University Drive #201 in Tempe, near ASU campus. Each unit in the community has one assigned covered parking space. Shared amenities include a pool, spa, fitness facility, and clubhouse.
Key Highlights
- 631‑square‑foot second‑floor unit with one bedroom and one bathroom
- Kitchen includes a refrigerator
- In‑unit washer and dryer
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
$8,552
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
4.50%
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%
$171,040
$171.0K
Cap Rate 7%
$122,171
$122.2K
Cap Rate 9%
$95,022
$95.0K
Market Conditions
NOI Build-Up for 631 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
$16.5K $26.16/SF
− Vacancy
−$957 −$1.52/SF
EGI
$15.5K $24.64/SF
− OpEx
−$7.0K −$11.09/SF
NOI
$8.6K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /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%
$171,040
Cap Rate 7%
$122,171
Cap Rate 9%
$95,022
Alternative Uses
Best Use
Apartment 5plus
$122.2K
$106.9K – $142.5K
NOI $8,552 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$198.4K
$173.6K – $231.5K
NOI $13,890 @ 7.0% cap · market cap 7.31%
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
1,259
Businesses Nearby
Explore this area
Business Placement
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor residence with in-unit laundry and assigned covered parking.
Where is this residential income property located?
The property is located at 1111 E University Drive #201 Tempe, AZ.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 631‑square‑foot second‑floor unit with one bedroom and one bathroom; Kitchen includes a refrigerator; In‑unit washer and dryer
