Updated Residential Income
New
For Sale
$184,400
13720 N 98th Ave #I, Sun City, AZ 85351
Condominium residence with in-unit laundry, a covered patio, and extensive interior and exterior updates.
Property Size1,141 SF
Price / SF$161.61
Days on Market3
Property Features for 13720 N 98th Ave #I
General Information
Standard status
Active
Size
1,141 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
washer/dryer in unit
covered patio
security door
8 rec centers
pools
golf courses
pickleball
Building Details
Year Built
1972
Listing Agency:
West Usa Realty
(602) 942-4200
Listed By:
Ryan Bieber
(623) 323-9559
Source:
Searcharizonahomesforsale
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 2 at 4:47PM
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 West Usa Realty
Investment Insights
Based on property information with market context.
This condominium residence was built in 1972 and offers 1,141 square feet of living space. Improvements include dual-pane Anderson windows, an Anderson front door, wood shutters, upgraded flooring, granite countertops, hi-rise toilets, and a security door. The kitchen includes an LG stove and dishwasher, while a washer and dryer are located inside the unit. A covered patio adds outdoor space.
The property is within Sun City, an active adult community with 8 recreation centers, pools, golf courses, and pickleball facilities. The residence is located at 13720 N 98th Ave, Unit I, in Sun City, Arizona.
The property is within Sun City, an active adult community with 8 recreation centers, pools, golf courses, and pickleball facilities. The residence is located at 13720 N 98th Ave, Unit I, in Sun City, Arizona.
Key Highlights
- 1,141‑square‑foot condominium residence built in 1972
- In‑unit washer and dryer
- Dual‑pane Anderson windows and Anderson front door
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
$12,877
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
6.98%
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%
$257,540
$257.5K
Cap Rate 7%
$183,957
$184.0K
Cap Rate 9%
$143,078
$143.1K
Market Conditions
NOI Build-Up for 1,141 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
$24.6K $21.60/SF
− Vacancy
−$1.2K −$1.08/SF
EGI
$23.4K $20.52/SF
− OpEx
−$10.5K −$9.23/SF
NOI
$12.9K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /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%
$257,540
Cap Rate 7%
$183,957
Cap Rate 9%
$143,078
Alternative Uses
Best Use
Apartment 5plus
$184.0K
$161.0K – $214.6K
NOI $12,877 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$352.9K
$308.8K – $411.8K
NOI $24,706 @ 7.0% cap · market cap 13.40%
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
1,356
Businesses Nearby
Explore this area
Business Placement
Demographics for 85351, AZ
29,795
Population
20,414
Households
1.5
Avg Household Size
73
Median Age
24%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
2,733
Density / Sq Mi
$50,812
Median Household Income
$29,786
Median Earnings
$1,477
Median Rent
$250,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with in-unit laundry, a covered patio, and extensive interior and exterior updates.
Where is this residential income property located?
The property is located at 13720 N 98th Ave #I Sun City, AZ.
What is the asking price?
The asking price for this property is $184,400.
What are key features of this property?
This property features: 1,141‑square‑foot condominium residence built in 1972; In‑unit washer and dryer; Dual‑pane Anderson windows and Anderson front door
