Second-Floor Residential Income
New
For Sale
$299,000
8344 N 21st Drive #I211, Phoenix, AZ 85021
Open-concept condo with vaulted ceilings, remodeled baths, designer finishes, private balcony, attached garage, and reserved parking.
Days on Market4
Property Features for 8344 N 21st Drive #I211
General Information
Standard status
Active
Total Parking Spaces
3
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
heated pools
spas
tennis courts
walking paths
private balcony
in-unit laundry
Building Details
Building Size
1,202 SF
Year Built
1984
Listing Agency:
My Home Group Real Estate
(480) 720-5686
Listed By:
Christopher Gray
(480) 720-5686
Source:
Sunhaven-realestate
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 1 at 1:07PM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This fully reimagined second-floor condo features an open-concept floor plan with soaring vaulted ceilings and contemporary finishes. The designer kitchen includes a 6-foot island, white oak cabinetry, quartz countertops, a handcrafted zellige tile backsplash, and all-new stainless steel appliances. Luxury vinyl plank flooring extends throughout, complemented by new recessed lighting and ceiling fans.
The primary suite includes mountain views and a spa-inspired bathroom with a double-sink vanity and skylight. A remodeled guest bathroom offers an oversized walk-in shower with designer tile. Additional features include interior laundry with new hookups, a private balcony with a storage closet, an attached garage, and two reserved parking spaces.
Built in 1984, the property is located in the gated El Caro community, which includes heated pools, spas, tennis courts, walking paths, and additional amenities.
The primary suite includes mountain views and a spa-inspired bathroom with a double-sink vanity and skylight. A remodeled guest bathroom offers an oversized walk-in shower with designer tile. Additional features include interior laundry with new hookups, a private balcony with a storage closet, an attached garage, and two reserved parking spaces.
Built in 1984, the property is located in the gated El Caro community, which includes heated pools, spas, tennis courts, walking paths, and additional amenities.
Key Highlights
- Fully reimagined second‑floor condo at 8344 N 21st Drive #I211, Phoenix, AZ 85021
- Designer kitchen with 6‑foot island, white oak cabinetry, quartz countertops, zellige tile backsplash, and new stainless steel appliances
- Primary suite includes mountain views, double‑sink vanity, and skylight
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 | $27.1k | $22.56 |
| − Vacancy | −$1.6k | −$1.35 |
| EGI | $25.5k | $21.21 |
| − OpEx | −$11.5k | −$9.54 |
| NOI | $14.0k | $11.66 |
1,202 SF · lease $22.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$200.3K
$175.3K – $233.7K
NOI $14,020 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$364.1K
$318.6K – $424.8K
NOI $25,487 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,524
Businesses Nearby
Explore this area
Business Placement
Demographics for 85021, AZ
40,943
Population
18,136
Households
2.3
Avg Household Size
35
Median Age
33%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,934
Density / Sq Mi
$58,481
Median Household Income
$38,147
Median Earnings
$1,221
Median Rent
$433,000
Median Home Value
Market
Properties on Market for Residential income properties in Phoenix
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-concept condo with vaulted ceilings, remodeled baths, designer finishes, private balcony, attached garage, and reserved parking.
Where is this residential income property located?
The property is located at 8344 N 21st Drive #I211 Phoenix, AZ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Fully reimagined second‑floor condo at 8344 N 21st Drive #I211, Phoenix, AZ 85021; Designer kitchen with 6‑foot island, white oak cabinetry, quartz countertops, zellige tile backsplash, and new stainless steel appliances; Primary suite includes mountain views, double‑sink vanity, and skylight
