Updated Residential Income
For Sale
$260,000
1331 W Baseline Rd #210, Mesa, AZ 85202
Two-bedroom, two-bath condominium with renovated interiors, private balcony, and access to Dobson Ranch amenities.
Property Size1,188 SF
Price / SF$218.86
Days on Market15
Property Features for 1331 W Baseline Rd #210
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
private balcony
fireplace
Building Details
Year Built
1983
Year Renovated
2022
Listing Agency:
Sierra Vista Realty, Inc
(480) 442-9868
Listed By:
Cook & Associates Real Estate Advisors
(480) 442-9868
Source:
Viewarizonahomesforsale
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 30 at 4:32PM
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 Sierra Vista Realty, Inc
Investment Insights
Based on property information with market context.
This 1,188-square-foot condominium offers a two-bedroom, two-bath layout in a 1983-built residential property. Interior improvements include quartz kitchen countertops installed in Jan 2026, a backsplash added in Mar 2026, LED can lighting, refreshed fixtures, and interior paint completed in Mar 2026. Both bathrooms were remodeled in 2022 with new plumbing, including a walk-in shower in the primary suite. Additional updates include smooth ceilings, new baseboards, new blinds, and a newly tiled fireplace.
The primary bedroom connects to a private balcony through a soundproof sliding glass door installed in Nov 2025. The property is located at 1331 W Baseline Rd #210 in Mesa, Arizona, with access to Dobson Ranch amenities.
The primary bedroom connects to a private balcony through a soundproof sliding glass door installed in Nov 2025. The property is located at 1331 W Baseline Rd #210 in Mesa, Arizona, with access to Dobson Ranch amenities.
Key Highlights
- 1,188 SF two‑bedroom, two‑bath condominium
- Kitchen quartz countertops installed Jan 2026
- Both bathrooms remodeled in 2022 with new plumbing
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
3.57%
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%
$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 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.6K
$284.9K – $379.9K
NOI $22,795 @ 7.0% cap · market cap 8.77%
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
1,136
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 - Two-bedroom, two-bath condominium with renovated interiors, private balcony, and access to Dobson Ranch amenities.
Where is this residential income property located?
The property is located at 1331 W Baseline Rd #210 Mesa, AZ.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,188 SF two‑bedroom, two‑bath condominium; Kitchen quartz countertops installed Jan 2026; Both bathrooms remodeled in 2022 with new plumbing
