One-Bedroom
For Sale
$208,000
1351 N PLEASANT Drive 1035, Chandler, AZ 85225
Neutral finishes, stainless appliances, and a covered patio with one covered parking spot in a Chandler community with resort-style amenities.
Property Size725 SF
Days on Market81
Property Features for 1351 N PLEASANT Drive 1035
General Information
Standard status
Active
Size
725 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$636
Amenities
covered patio
tennis
pool
heated spa
Building Details
Building Size
725 SF
Year Built
1984
Listing Agency:
Vega and Associates Real Estate
(602) 885-8569
Listed By:
Sam Vega · License #BR531344000
(602) 885-8569
Source:
Gillettegroupaz
Added: Jun 7
Changed: Aug 12
Last Checked: Aug 25 at 12:26PM
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 Vega and Associates Real Estate
Investment Insights
Based on property information with market context.
This modern one-bedroom, one-bath townhome features neutral tile flooring throughout and freshly painted walls. The kitchen is equipped with stainless appliances, including a brand new dishwasher, and the home also has updated ceiling fans. A north-facing covered patio provides outdoor space, and the unit includes one covered parking spot.
The community offers shared amenities including tennis, a pool, and a heated spa, along with additional community features. The townhome was built in 1984.
With its comfortable one-bedroom layout and in-home updates such as stainless appliances and ceiling fan upgrades, the property is well-suited for an occupant seeking a streamlined, low-maintenance home within an amenity-rich community.
The community offers shared amenities including tennis, a pool, and a heated spa, along with additional community features. The townhome was built in 1984.
With its comfortable one-bedroom layout and in-home updates such as stainless appliances and ceiling fan upgrades, the property is well-suited for an occupant seeking a streamlined, low-maintenance home within an amenity-rich community.
Key Highlights
- One‑bedroom, one‑bath townhome with neutral tile flooring throughout
- Freshly painted walls and updated ceiling fans
- Stainless appliances including a brand new dishwasher
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
$8,275
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
3.98%
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%
$165,500
$165.5K
Cap Rate 7%
$118,214
$118.2K
Cap Rate 9%
$91,944
$91.9K
Market Conditions
NOI Build-Up for 725 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
$15.9K $21.96/SF
− Vacancy
−$876 −$1.21/SF
EGI
$15.0K $20.75/SF
− OpEx
−$6.8K −$9.34/SF
NOI
$8.3K $11.41/SF
Area
Chandler, AZ
Vacancy
5.50%
Lease Rate
$21.96 /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%
$165,500
Cap Rate 7%
$118,214
Cap Rate 9%
$91,944
Alternative Uses
Best Use
Apartment 5plus
$118.2K
$103.4K – $137.9K
NOI $8,275 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.8K
$181.8K – $242.4K
NOI $14,546 @ 7.0% cap · market cap 6.99%
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
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 85225, AZ
73,551
Population
28,930
Households
2.5
Avg Household Size
35
Median Age
33%
College-Educated
88%
High-School Grad
12.7 sq mi
ZIP Area
5,791
Density / Sq Mi
$86,036
Median Household Income
$45,692
Median Earnings
$1,662
Median Rent
$386,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Neutral finishes, stainless appliances, and a covered patio with one covered parking spot in a Chandler community with resort-style amenities.
Where is this residential income property located?
The property is located at 1351 N PLEASANT Drive 1035 Chandler, AZ.
What is the asking price?
The asking price for this property is $208,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath townhome with neutral tile flooring throughout; Freshly painted walls and updated ceiling fans; Stainless appliances including a brand new dishwasher
