Residential Income Property with Private
For Sale
$299,000
8805 S 48th St #1, Phoenix, AZ 85044
Updated two-bedroom home with an open layout, contemporary finishes, and access to extensive community amenities.
Property Size976 SF
Price / SF$306.35
Days on Market16
Property Features for 8805 S 48th St #1
General Information
Standard status
Active
Size
976 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Amenities
community pools
walking and biking paths
dog park
Building Details
Year Built
1985
Listing Agency:
Freestand Realty
(480) 771-2303
Listed By:
The Garcia Group
(480) 771-2303
Source:
Beckygarcia
Added: Aug 14
Changed: Aug 27
Last Checked: Aug 28 at 10:14AM
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 Freestand Realty
Investment Insights
Based on property information with market context.
This 976-square-foot residential income property includes 2 bedrooms and 1.5 baths within a 1985-built home. The interior has an open arrangement with a designated dining area, tile flooring, quartz countertops, and stainless steel appliances. The primary bedroom provides two closets, including a walk-in closet. Recent improvements include new turf in the backyard and a water softener.
Community amenities include four pools, walking and biking paths, and a dog park. HOA-covered services include water, sewer, and trash. The property is located at 8805 S 48th St #1 in Phoenix, Arizona, with access to South Mountain Preserve, golf, shopping, dining, and freeways.
Community amenities include four pools, walking and biking paths, and a dog park. HOA-covered services include water, sewer, and trash. The property is located at 8805 S 48th St #1 in Phoenix, Arizona, with access to South Mountain Preserve, golf, shopping, dining, and freeways.
Key Highlights
- 2 bedrooms and 1.5 baths in a 976‑square‑foot home
- Open layout with dedicated dining area and tile flooring
- Quartz countertops and stainless steel appliances
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
$11,384
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%
$227,680
$227.7K
Cap Rate 7%
$162,629
$162.6K
Cap Rate 9%
$126,489
$126.5K
Market Conditions
NOI Build-Up for 976 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
$22.0K $22.56/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$20.7K $21.21/SF
− OpEx
−$9.3K −$9.54/SF
NOI
$11.4K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /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%
$227,680
Cap Rate 7%
$162,629
Cap Rate 9%
$126,489
Alternative Uses
Best Use
Apartment 5plus
$162.6K
$142.3K – $189.7K
NOI $11,384 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$295.6K
$258.7K – $344.9K
NOI $20,695 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 85044, AZ
39,559
Population
18,817
Households
2.1
Avg Household Size
41
Median Age
50%
College-Educated
97%
High-School Grad
16.5 sq mi
ZIP Area
2,398
Density / Sq Mi
$96,374
Median Household Income
$58,220
Median Earnings
$1,798
Median Rent
$437,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom home with an open layout, contemporary finishes, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 8805 S 48th St #1 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: 2 bedrooms and 1.5 baths in a 976‑square‑foot home; Open layout with dedicated dining area and tile flooring; Quartz countertops and stainless steel appliances
