Two-Bedroom Income
11640 N 51st Avenue #212 Glendale, AZ 85304
New
For Sale
$160,000
Back-of-community condo with two balconies, covered parking, and included appliances and laundry equipment.
Property Size865 SF
Price / SF$184.97
Days on Market5
Property Features for 11640 N 51st Avenue #212
General Information
Standard status
Active
Size
865 SF
Property subtype
Apartment
Building Details
Year Built
1984
Listing Agency:
HomeSmart
(480) 788-4118
Listed By:
Awni S Abbas
(480) 788-4118
Source:
Aznewhorizonrealty
Added: Jul 26
Changed: Jul 27
Last Checked: Jul 29 at 12:26PM
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 two-bedroom, two-bath condo is positioned at the back of the community and offers an open kitchen with stainless steel appliances, granite countertops, and a custom backsplash. The unit includes custom stonework around a fireplace and two balconies, with the master bedroom featuring a private bathroom and the guest bedroom offering a private balcony. A refrigerator, dishwasher, stove, and a new garbage disposal are included, along with a washer and dryer. Updates noted include a new water heater in 2026 and newer plumbing fixtures in the baths and kitchen.
Residents can access one reserved covered parking space next to the stairs, with additional unreserved parking available. The community amenities are within a short walking distance, including a pool, heated spa, BBQ grill, and clubhouse/fitness center. The subdivision is described as conveniently located near grocery shopping, ASU WESG Glendale & Peoria sports complexes, dining, Midwestern University, local schools, and Saguaro Park.
As presented, the property is currently producing income, with rents listed at $1,500 per month and low annual taxes referenced in the remarks.
Residents can access one reserved covered parking space next to the stairs, with additional unreserved parking available. The community amenities are within a short walking distance, including a pool, heated spa, BBQ grill, and clubhouse/fitness center. The subdivision is described as conveniently located near grocery shopping, ASU WESG Glendale & Peoria sports complexes, dining, Midwestern University, local schools, and Saguaro Park.
As presented, the property is currently producing income, with rents listed at $1,500 per month and low annual taxes referenced in the remarks.
Key Highlights
- 2 bed, 2 bath condo in the back of the community, with 2 balconies
- Open kitchen with stainless steel appliances, granite countertops, and custom backsplash tile
- Master suite includes private bathroom; guest bedroom has a private balcony
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.1k | $19.80 |
| − Vacancy | −$1.1k | −$1.29 |
| EGI | $16.0k | $18.51 |
| − OpEx | −$7.2k | −$8.33 |
| NOI | $8.8k | $10.18 |
865 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$125.8K
$110.1K – $146.8K
NOI $8,808 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.7K
$237.7K – $317.0K
NOI $19,019 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Residential income property - Back-of-community condo with two balconies, covered parking, and included appliances and laundry equipment.
Where is this residential income property located?
The property is located at 11640 N 51st Avenue #212 Glendale, AZ.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: 2 bed, 2 bath condo in the back of the community, with 2 balconies; Open kitchen with stainless steel appliances, granite countertops, and custom backsplash tile; Master suite includes private bathroom; guest bedroom has a private balcony
