Updated Residential Income
New
For Sale
$309,900
2929 W Yorkshire Dr #1122, Phoenix, AZ 85027
Three-bedroom condominium with refreshed interiors, in-unit laundry, covered patio, and access to multiple community amenities.
Property Size1,215 SF
Price / SF$255.06
Days on Market5
Property Features for 2929 W Yorkshire Dr #1122
General Information
Standard status
Active
Size
1,215 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
fireplace
in-unit laundry
covered patio
assigned covered parking
three pools
multiple heated spas
clubhouse
fitness center
Building Details
Year Built
1999
Listing Agency:
1St Dream Realty
(602) 909-6513
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 10:16AM
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 1St Dream Realty
Investment Insights
Based on property information with market context.
This updated condominium provides 1,215 square feet with three bedrooms and two bathrooms. The interior includes an open living and dining arrangement, a fireplace, updated flooring, and a kitchen equipped with white cabinetry, refreshed countertops, stainless-steel appliances, and a breakfast bar. Updated bathrooms, in-unit laundry, and a covered patio add practical functionality, while assigned covered parking is included.
Community amenities include three pools, multiple heated spas, a clubhouse, and a fitness center. Built in 1999, the property is located at 2929 W Yorkshire Dr #1122 in Phoenix, Arizona 85027.
Community amenities include three pools, multiple heated spas, a clubhouse, and a fitness center. Built in 1999, the property is located at 2929 W Yorkshire Dr #1122 in Phoenix, Arizona 85027.
Key Highlights
- 3‑bedroom, 2‑bath condominium with approximately 1,215 square feet
- Updated flooring, bathrooms, kitchen countertops, cabinetry, and stainless‑steel appliances
- Open living and dining area with fireplace and breakfast bar
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
$14,171
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
4.57%
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%
$283,420
$283.4K
Cap Rate 7%
$202,443
$202.4K
Cap Rate 9%
$157,456
$157.5K
Market Conditions
NOI Build-Up for 1,215 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
$27.4K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.8K $21.21/SF
− OpEx
−$11.6K −$9.54/SF
NOI
$14.2K $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%
$283,420
Cap Rate 7%
$202,443
Cap Rate 9%
$157,456
Alternative Uses
Best Use
Apartment 5plus
$202.4K
$177.1K – $236.2K
NOI $14,171 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.0K
$322.0K – $429.4K
NOI $25,762 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 85027, AZ
38,343
Population
17,458
Households
2.2
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
3,277
Density / Sq Mi
$73,255
Median Household Income
$46,338
Median Earnings
$1,488
Median Rent
$316,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with refreshed interiors, in-unit laundry, covered patio, and access to multiple community amenities.
Where is this residential income property located?
The property is located at 2929 W Yorkshire Dr #1122 Phoenix, AZ.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath condominium with approximately 1,215 square feet; Updated flooring, bathrooms, kitchen countertops, cabinetry, and stainless‑steel appliances; Open living and dining area with fireplace and breakfast bar
