2-Bedroom Residential Income
New
For Sale
$384,500
4848 N 36th St #130, Phoenix, AZ 85018
Condominium with private patio, attached garage, and access to pool, spa, clubhouse, and wine room amenities.
Property Size1,025 SF
Price / SF$375.12
Days on Market6
Property Features for 4848 N 36th St #130
General Information
Standard status
Active
Size
1,025 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
pool
spa
clubhouse
wine room
gated community
Building Details
Year Built
1994
Listing Agency:
Exp Realty
(623) 986-6650
Listed By:
Jeremy Jennings
(623) 986-6650
Source:
Theazliving
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 30 at 4:16PM
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 Exp Realty
Investment Insights
Based on property information with market context.
This 1,025-square-foot condominium, built in 1994, includes two bedrooms and two bathrooms. Interior features include a living room fireplace, stainless steel kitchen appliances, generous cabinetry, and a pantry. The primary bedroom has an ensuite bathroom with dual sinks and a walk-in closet. A private patio and attached one-car garage add functional outdoor and parking space.
Community amenities include a pool, spa, clubhouse, wine room, and personal wine vault. The property is within a gated community, with the HOA covering the roof, grounds, trash, and common-area maintenance. Located in Arcadia Lite near the Biltmore, the residence is close to shopping, restaurants, coffee shops, and walkable dining options.
Community amenities include a pool, spa, clubhouse, wine room, and personal wine vault. The property is within a gated community, with the HOA covering the roof, grounds, trash, and common-area maintenance. Located in Arcadia Lite near the Biltmore, the residence is close to shopping, restaurants, coffee shops, and walkable dining options.
Key Highlights
- Two‑bedroom, two‑bath condominium measuring 1,025 square feet
- Built in 1994 with living room fireplace and stainless steel kitchen appliances
- Primary bedroom includes ensuite bath, dual sinks, and walk‑in closet
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
$11,955
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
3.11%
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%
$239,100
$239.1K
Cap Rate 7%
$170,786
$170.8K
Cap Rate 9%
$132,833
$132.8K
Market Conditions
NOI Build-Up for 1,025 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
$23.1K $22.56/SF
− Vacancy
−$1.4K −$1.35/SF
EGI
$21.7K $21.21/SF
− OpEx
−$9.8K −$9.54/SF
NOI
$12.0K $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%
$239,100
Cap Rate 7%
$170,786
Cap Rate 9%
$132,833
Alternative Uses
Best Use
Apartment 5plus
$170.8K
$149.4K – $199.3K
NOI $11,955 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.5K
$271.7K – $362.2K
NOI $21,734 @ 7.0% cap · market cap 5.65%
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
2,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 85018, AZ
37,944
Population
19,487
Households
1.9
Avg Household Size
40
Median Age
57%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
2,513
Density / Sq Mi
$87,637
Median Household Income
$58,555
Median Earnings
$1,411
Median Rent
$805,800
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condominium with private patio, attached garage, and access to pool, spa, clubhouse, and wine room amenities.
Where is this residential income property located?
The property is located at 4848 N 36th St #130 Phoenix, AZ.
What is the asking price?
The asking price for this property is $384,500.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium measuring 1,025 square feet; Built in 1994 with living room fireplace and stainless steel kitchen appliances; Primary bedroom includes ensuite bath, dual sinks, and walk‑in closet
