Upper-Level Residential Income
For Sale
$220,000
1331 W Baseline Rd #209, Mesa, AZ 85202
Two-bedroom, two-bath home includes a private patio and full-size laundry appliances.
Property Size1,188 SF
Price / SF$185.19
Days on Market23
Property Features for 1331 W Baseline Rd #209
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
lakes
recreation facilities
swimming pools
sports courts
walking trails
landscaped outdoor spaces
washer/dryer
Building Details
Year Built
1983
Listing Agency:
The Maricopa Real Estate Company
(602) 359-5170
Listed By:
The Carin Nguyen Real Estate Network
(602) 832-7005
Source:
Azhomesold
Added: Aug 14
Changed: Sep 4
Last Checked: Sep 5 at 7:31AM
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 The Maricopa Real Estate Company
Investment Insights
Based on property information with market context.
This upper-level residence in Dobson Bay Club offers a two-bedroom, two-bath layout with an expansive living area and abundant natural light. The kitchen opens directly to the main living space, while the primary bedroom includes patio access and an en-suite bath. The second bedroom can accommodate guests or serve as a home office, and a full-size washer and dryer are included. The property was built in 1983.
Residents have access to the broader Dobson Ranch setting, which includes lakes, swimming pools, sports courts, walking trails, recreation facilities, and landscaped outdoor areas. Dobson Ranch Golf Course is minutes away and offers championship golf, a driving range, and clubhouse amenities. Shopping, dining, entertainment, and freeway access are also described as nearby.
Residents have access to the broader Dobson Ranch setting, which includes lakes, swimming pools, sports courts, walking trails, recreation facilities, and landscaped outdoor areas. Dobson Ranch Golf Course is minutes away and offers championship golf, a driving range, and clubhouse amenities. Shopping, dining, entertainment, and freeway access are also described as nearby.
Key Highlights
- Two‑bedroom, two‑bath upper‑level residence in Dobson Bay Club
- Primary bedroom includes private patio access and an en‑suite bath
- Kitchen connects directly with the main living area
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
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 home includes a private patio and full-size laundry appliances.
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: Two‑bedroom, two‑bath upper‑level residence in Dobson Bay Club; Primary bedroom includes private patio access and an en‑suite bath; Kitchen connects directly with the main living area
