Two-Bedroom Residential Income
For Sale
$220,000
1331 W Baseline Rd #209, Mesa, AZ 85202
Upper-level residence with two baths, a private patio, and full-size washer and dryer included.
Property Size1,188 SF
Price / SF$185.19
Days on Market28
Property Features for 1331 W Baseline Rd #209
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
full-size washer and dryer
lakes
recreation facilities
swimming pools
sports courts
walking trails
beautifully landscaped outdoor spaces
Building Details
Year Built
1983
Listing Agency:
West Usa Realty
(602) 832-7005
Listed By:
The Carin Nguyen Real Estate Network
(602) 832-7005
Source:
Azhomesold
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 29 at 8:56AM
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 West Usa Realty
Investment Insights
Based on property information with market context.
This 1,188-square-foot upper-level residence in Dobson Bay Club includes two bedrooms and two bathrooms, with an open living area and a kitchen arranged for connection to the main living space. The primary bedroom opens directly to a private patio and includes an en-suite bathroom. A second bedroom provides additional residential space, while a full-size washer and dryer are included. Built in 1983, the property offers a low-maintenance residential setting within an established Mesa community.
Dobson Ranch amenities include lakes, swimming pools, recreation facilities, sports courts, walking trails, and landscaped outdoor areas. The residence is located at 1331 W Baseline Rd #209, Mesa, AZ 85202, with access to shopping, dining, entertainment, freeway connections, and Dobson Ranch Golf Course, which includes a driving range and clubhouse amenities.
Dobson Ranch amenities include lakes, swimming pools, recreation facilities, sports courts, walking trails, and landscaped outdoor areas. The residence is located at 1331 W Baseline Rd #209, Mesa, AZ 85202, with access to shopping, dining, entertainment, freeway connections, and Dobson Ranch Golf Course, which includes a driving range and clubhouse amenities.
Key Highlights
- 1,188‑square‑foot upper‑level residence with 2 bedrooms and 2 bathrooms
- Primary bedroom includes direct patio access and an en‑suite bathroom
- Full‑size washer and dryer included
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
$9,291
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
4.22%
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%
$185,820
$185.8K
Cap Rate 7%
$132,729
$132.7K
Cap Rate 9%
$103,233
$103.2K
Market Conditions
NOI Build-Up for 1,188 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
$18.1K $15.24/SF
− Vacancy
−$1.2K −$1.02/SF
EGI
$16.9K $14.22/SF
− OpEx
−$7.6K −$6.40/SF
NOI
$9.3K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /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%
$185,820
Cap Rate 7%
$132,729
Cap Rate 9%
$103,233
Alternative Uses
Best Use
Apartment 5plus
$132.7K
$116.1K – $154.9K
NOI $9,291 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.6K
$284.9K – $379.9K
NOI $22,795 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,136
Businesses Nearby
Explore this area
Business Placement
Demographics for 85202, AZ
39,626
Population
18,077
Households
2.2
Avg Household Size
34
Median Age
34%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
6,391
Density / Sq Mi
$66,582
Median Household Income
$42,083
Median Earnings
$1,431
Median Rent
$334,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level residence with two baths, a private patio, and full-size washer and dryer included.
Where is this residential income property located?
The property is located at 1331 W Baseline Rd #209 Mesa, AZ.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,188‑square‑foot upper‑level residence with 2 bedrooms and 2 bathrooms; Primary bedroom includes direct patio access and an en‑suite bathroom; Full‑size washer and dryer included
