One-Bedroom Residential Income
For Sale
$215,000
1287 N ALMA SCHOOL Road 253, Chandler, AZ 85224
Residential unit with balcony access, stainless steel appliances, fresh paint, and community pool access.
Property Size718 SF
Days on Market30
Property Features for 1287 N ALMA SCHOOL Road 253
General Information
Standard status
Active
Size
718 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$598
Amenities
pool
balcony
Building Details
Building Size
718 SF
Year Built
2001
Listing Agency:
HomeSmart
Listed By:
Ballard Nguyen
(602) 853-6093
Source:
Gillettegroupaz
Added: Aug 7
Changed: Aug 24
Last Checked: Sep 5 at 7:11AM
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 2001 residential income property offers a one-bedroom, one-bath layout with a connected living and dining area. Tile flooring, fresh paint, fire sprinklers, and sliding glass doors enhance the interior, while the kitchen features LED lighting, stainless steel appliances, and ample cabinetry. The bedroom includes a walk-in closet and direct access to the balcony.
The property is located at 1287 N Alma School Road in Chandler, Arizona, near parks and shopping centers. Residents also have access to a community pool. The unit includes balcony space for additional outdoor use and has been maintained with practical interior features.
The property is located at 1287 N Alma School Road in Chandler, Arizona, near parks and shopping centers. Residents also have access to a community pool. The unit includes balcony space for additional outdoor use and has been maintained with practical interior features.
Key Highlights
- 1‑bed, 1‑bath residential unit
- Built in 2001
- Balcony access from the living area and bedroom
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
$8,195
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
3.81%
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%
$163,900
$163.9K
Cap Rate 7%
$117,071
$117.1K
Cap Rate 9%
$91,056
$91.1K
Market Conditions
NOI Build-Up for 718 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
$15.8K $21.96/SF
− Vacancy
−$867 −$1.21/SF
EGI
$14.9K $20.75/SF
− OpEx
−$6.7K −$9.34/SF
NOI
$8.2K $11.41/SF
Area
Chandler, AZ
Vacancy
5.50%
Lease Rate
$21.96 /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%
$163,900
Cap Rate 7%
$117,071
Cap Rate 9%
$91,056
Alternative Uses
Best Use
Apartment 5plus
$117.1K
$102.4K – $136.6K
NOI $8,195 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$205.8K
$180.1K – $240.1K
NOI $14,406 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 85224, AZ
46,919
Population
21,559
Households
2.2
Avg Household Size
38
Median Age
40%
College-Educated
94%
High-School Grad
9.4 sq mi
ZIP Area
4,991
Density / Sq Mi
$90,886
Median Household Income
$53,408
Median Earnings
$1,785
Median Rent
$391,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential unit with balcony access, stainless steel appliances, fresh paint, and community pool access.
Where is this residential income property located?
The property is located at 1287 N ALMA SCHOOL Road 253 Chandler, AZ.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 1‑bed, 1‑bath residential unit; Built in 2001; Balcony access from the living area and bedroom
