2-Bedroom Residential Income
New
For Sale
$245,000
1331 W Baseline Road #260, Mesa, AZ 85202
Condominium features two full bathrooms, a balcony, fireplace, and access to shared recreational amenities.
Property Size1,188 SF
Price / SF$206.23
Days on Market6
Property Features for 1331 W Baseline Road #260
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$949
Building Details
Building Size
1,188 SF
Year Built
1988
Stories
3
Listing Agency:
Realty Executives Arizona Territory
(602) 430-6668
Listed By:
Mo Yaw
(602) 430-6668
Source:
Aznewhorizonrealty
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 20 at 1:38PM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This 1188-square-foot condominium at 1331 W Baseline Road #260 offers a two-bedroom, two-bathroom layout with wood-look flooring, neutral paint, and a fireplace. The kitchen includes oak cabinetry, ample counter space, and a pass-through breakfast bar connecting it with the living room. One bedroom provides direct access to the balcony. Built in 1988, the residence is part of a community with a pool, spa, and sports courts. Its Mesa, AZ address places the property along W Baseline Road.
Key Highlights
- 1188‑square‑foot condominium with two bedrooms and two full bathrooms
- Kitchen includes oak cabinetry, ample counter space, and a breakfast bar pass‑through
- Living area features wood‑look flooring, neutral paint, and a fireplace
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
3.79%
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 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.6K
$284.9K – $379.9K
NOI $22,795 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Condominium features two full bathrooms, a balcony, fireplace, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 1331 W Baseline Road #260 Mesa, AZ.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1188‑square‑foot condominium with two bedrooms and two full bathrooms; Kitchen includes oak cabinetry, ample counter space, and a breakfast bar pass‑through; Living area features wood‑look flooring, neutral paint, and a fireplace
