First-Floor Condo in Gated
For Sale
$172,000
14203 N 19th Avenue #1030, Phoenix, AZ 85023
First-floor 2 bed, 2 bath condo within the gated Sungate at Moon Mountain community with ground-level access and amenities.
Property Size927 SF
Days on Market49
Property Features for 14203 N 19th Avenue #1030
General Information
Standard status
Active
Size
927 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$610
Amenities
greenbelt areas
heated swimming pool
spa
clubhouse
fitness area
BBQ gathering spaces
Building Details
Building Size
927 SF
Year Built
1981
Stories
2
Listing Agency:
Russ Lyon Sotheby's International Realty
(480) 209-2615
Listed By:
David Arustamian · License #BR662152000
(480) 209-2615
Source:
Sunhaven-realestate
Added: Jul 6
Changed: Aug 10
Last Checked: Aug 22 at 1:28PM
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 Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
Welcome to a first-floor 2 bedroom, 2 bathroom condo in the gated Sungate at Moon Mountain community. The residence offers easy ground-level access and features a lock-and-leave layout suited to full-time living or an investment use.
Residents also benefit from a well-maintained community setting with greenbelt areas and access to shared amenities, including a heated swimming pool, spa, clubhouse, fitness area, and BBQ gathering spaces. The community is positioned at the base of Moon Mountain, providing convenient access to nearby hiking trails, shopping, dining, and major freeways.
Overall, this is a condo option within an amenity-rich, gated community designed for everyday convenience and low-effort living.
Residents also benefit from a well-maintained community setting with greenbelt areas and access to shared amenities, including a heated swimming pool, spa, clubhouse, fitness area, and BBQ gathering spaces. The community is positioned at the base of Moon Mountain, providing convenient access to nearby hiking trails, shopping, dining, and major freeways.
Overall, this is a condo option within an amenity-rich, gated community designed for everyday convenience and low-effort living.
Key Highlights
- First‑floor 2 bed, 2 bath condo in the gated Sungate at Moon Mountain community
- Ground‑level access for easy entry and day‑to‑day convenience
- Year built: 1981
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
$10,812
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
6.29%
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%
$216,240
$216.2K
Cap Rate 7%
$154,457
$154.5K
Cap Rate 9%
$120,133
$120.1K
Market Conditions
NOI Build-Up for 927 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
$20.9K $22.56/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$19.7K $21.21/SF
− OpEx
−$8.8K −$9.54/SF
NOI
$10.8K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /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%
$216,240
Cap Rate 7%
$154,457
Cap Rate 9%
$120,133
Alternative Uses
Best Use
Apartment 5plus
$154.5K
$135.2K – $180.2K
NOI $10,812 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.8K
$245.7K – $327.6K
NOI $19,656 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 85023, AZ
35,241
Population
14,765
Households
2.4
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
7.4 sq mi
ZIP Area
4,762
Density / Sq Mi
$72,442
Median Household Income
$43,936
Median Earnings
$1,429
Median Rent
$359,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor 2 bed, 2 bath condo within the gated Sungate at Moon Mountain community with ground-level access and amenities.
Where is this residential income property located?
The property is located at 14203 N 19th Avenue #1030 Phoenix, AZ.
What is the asking price?
The asking price for this property is $172,000.
What are key features of this property?
This property features: First‑floor 2 bed, 2 bath condo in the gated Sungate at Moon Mountain community; Ground‑level access for easy entry and day‑to‑day convenience; Year built: 1981
