First-Floor Residential Income
New
For Sale
$249,000
1406 W Emerald Avenue #113, Mesa, AZ 85202
Ground-level layout, an attached garage, and community pool access distinguish this Mesa residence.
Property Size1,148 SF
Price / SF$216.90
Days on Market4
Property Features for 1406 W Emerald Avenue #113
General Information
Standard status
Active
Size
1,148 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$739
Amenities
pool
Full Bth Master Bdrm
Double Vanity
No Interior Steps
Building Details
Building Size
1,148 SF
Year Built
2000
Stories
1
Listing Agency:
HomeSmart
(602) 230-7600
Listed By:
Mark W Daker · License #SA664333000
(602) 881-9659
Source:
Jlberrycompany
Added: Oct 29
Last Checked: Oct 29 at 2:42PM
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 HomeSmart
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Investment Insights
Based on property information with market context.
This 1,148-square-foot, first-floor residence was built in 2000 and includes an attached garage. Its open living area connects to a shaded patio. The primary suite has dual vanities, a walk-in closet, and a walk-in shower. Updates include interior paint, carpet, a kitchen sink, a stainless steel refrigerator, laundry-room vinyl plank flooring, and a water heater installed in June 2025.
The community has a pool. HOA coverage includes water, sewer, trash, and roof repair or replacement. The property is in Mesa, with access to US-60 and Loop 101 and proximity to ASU’s Tempe campus.
The community has a pool. HOA coverage includes water, sewer, trash, and roof repair or replacement. The property is in Mesa, with access to US-60 and Loop 101 and proximity to ASU’s Tempe campus.
Key Highlights
- 1,148‑square‑foot residence with an attached garage
- First‑floor unit with access to a shaded patio
- Primary suite includes dual vanities, a walk‑in closet, and a walk‑in shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,978
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$179,560
$179.6K
Cap Rate 7%
$128,257
$128.3K
Cap Rate 9%
$99,756
$99.8K
Market Conditions
NOI Build-Up for 1,148 SF
Gross rent
$17.5K $15.24/SF
− Vacancy
−$1.2K −$1.02/SF
EGI
$16.3K $14.22/SF
− OpEx
−$7.3K −$6.40/SF
NOI
$9.0K $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 Rate 5%
$179,560
Cap Rate 7%
$128,257
Cap Rate 9%
$99,756
Alternative Uses
Best Use
Apartment 5plus
$128.3K
$112.2K – $149.6K
NOI $8,978 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.7K
$275.3K – $367.1K
NOI $22,027 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
956
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level layout, an attached garage, and community pool access distinguish this Mesa residence.
Where is this residential income property located?
The property is located at 1406 W Emerald Avenue #113 Mesa, AZ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,148‑square‑foot residence with an attached garage; First‑floor unit with access to a shaded patio; Primary suite includes dual vanities, a walk‑in closet, and a walk‑in shower
