Ground-Level Residential Income
For Sale
$305,000
7008 E Gold Dust Avenue #115, Paradise Valley, AZ 85253
Ground-level 2-bed, 2-bath unit with bamboo flooring, in-unit laundry, and a covered patio.
Property Size917 SF
Days on Market33
Property Features for 7008 E Gold Dust Avenue #115
General Information
Standard status
Active
Size
917 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$851
Building Details
Building Size
917 SF
Year Built
1989
Stories
1
Listing Agency:
Real Broker
(623) 223-1663
Listed By:
Carin S Nguyen · License #BR546062000
(623) 223-1663
Source:
Sunhaven-realestate
Added: Jul 25
Changed: Aug 14
Last Checked: Aug 25 at 8:14AM
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 Real Broker
Investment Insights
Based on property information with market context.
This ground-level 2-bedroom, 2-bath residential income unit is designed for easy everyday living, with bamboo wood flooring, fresh paint, and ceiling fans throughout. The kitchen includes track lighting, stainless steel appliances, and ample cabinet space. The unit also features newer washer and dryer, helping streamline in-home laundry convenience.
The primary bedroom is sized for comfortable use and includes plush carpet, a private bathroom with an enclosed glass shower, and a walk-in closet. After a busy day, you can relax on the covered patio.
Overall, the unit presents a move-in ready interior with coordinated finishes and practical in-home amenities, including in-unit laundry and a covered outdoor space.
The primary bedroom is sized for comfortable use and includes plush carpet, a private bathroom with an enclosed glass shower, and a walk-in closet. After a busy day, you can relax on the covered patio.
Overall, the unit presents a move-in ready interior with coordinated finishes and practical in-home amenities, including in-unit laundry and a covered outdoor space.
Key Highlights
- Ground‑level 2‑bed, 2‑bath unit in a building built in 1989
- Bamboo wood flooring, fresh paint, and ceiling fans throughout
- Kitchen with track lighting, stainless steel appliances, and plenty of cabinet space
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
$10,349
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
3.39%
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%
$206,980
$207.0K
Cap Rate 7%
$147,843
$147.8K
Cap Rate 9%
$114,989
$115.0K
Market Conditions
NOI Build-Up for 917 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
$19.8K $21.60/SF
− Vacancy
−$990 −$1.08/SF
EGI
$18.8K $20.52/SF
− OpEx
−$8.5K −$9.23/SF
NOI
$10.3K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /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%
$206,980
Cap Rate 7%
$147,843
Cap Rate 9%
$114,989
Alternative Uses
Best Use
Apartment 5plus
$147.8K
$129.4K – $172.5K
NOI $10,349 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.7K
$248.2K – $330.9K
NOI $19,856 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,075
Businesses Nearby
Explore this area
Business Placement
Demographics for 85253, AZ
17,358
Population
8,815
Households
2
Avg Household Size
53
Median Age
71%
College-Educated
98%
High-School Grad
18.1 sq mi
ZIP Area
959
Density / Sq Mi
$182,150
Median Household Income
$79,848
Median Earnings
$1,935
Median Rent
$2,000,001
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level 2-bed, 2-bath unit with bamboo flooring, in-unit laundry, and a covered patio.
Where is this residential income property located?
The property is located at 7008 E Gold Dust Avenue #115 Paradise Valley, AZ.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Ground‑level 2‑bed, 2‑bath unit in a building built in 1989; Bamboo wood flooring, fresh paint, and ceiling fans throughout; Kitchen with track lighting, stainless steel appliances, and plenty of cabinet space
