Ground-Floor Residential Income
For Sale
$140,000
1440 N Idaho Rd #1051, Apache Junction, AZ 85119
One-bedroom unit with tile floors, built-in appliances, and access to community amenities.
Property Size630 SF
Price / SF$222.22
Days on Market8
Property Features for 1440 N Idaho Rd #1051
General Information
Standard status
Active
Size
630 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
pool
spa
large laundry
Building Details
Year Built
1989
Listing Agency:
1St Dream Realty
(602) 909-6513
Listed By:
Brandon Howe Team
(602) 909-6513
Source:
Howerealtygroup
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 7:36AM
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 1St Dream Realty
Investment Insights
Based on property information with market context.
This ground-level residential income property contains one bedroom and one bathroom within a practical apartment layout. The interior features tile flooring, neutral finishes, and plentiful natural light. The kitchen includes flat-panel cabinets, generous work surfaces, and built-in appliances. The bedroom connects directly to the bathroom and includes a walk-in closet.
Community amenities include a pool, spa, and large laundry facility. The property is located at 1440 N Idaho Rd #1051 in Apache Junction, Arizona. Built in 1989, the unit offers a straightforward residential configuration with shared amenities and low-maintenance interior finishes.
Community amenities include a pool, spa, and large laundry facility. The property is located at 1440 N Idaho Rd #1051 in Apache Junction, Arizona. Built in 1989, the unit offers a straightforward residential configuration with shared amenities and low-maintenance interior finishes.
Key Highlights
- Ground‑floor one‑bedroom, one‑bathroom apartment
- Tile flooring, neutral finishes, and abundant natural light
- Kitchen with flat‑panel cabinetry, ample counter space, and built‑in appliances
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
$4,957
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
3.54%
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%
$99,140
$99.1K
Cap Rate 7%
$70,814
$70.8K
Cap Rate 9%
$55,078
$55.1K
Market Conditions
NOI Build-Up for 630 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
$10.2K $16.20/SF
− Vacancy
−$1.2K −$1.90/SF
EGI
$9.0K $14.30/SF
− OpEx
−$4.1K −$6.44/SF
NOI
$5.0K $7.87/SF
Area
Pinal County, AZ
Vacancy
11.70%
Lease Rate
$16.20 /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%
$99,140
Cap Rate 7%
$70,814
Cap Rate 9%
$55,078
Alternative Uses
Best Use
Apartment 5plus
$70.8K
$62.0K – $82.6K
NOI $4,957 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$174.2K
$152.4K – $203.2K
NOI $12,192 @ 7.0% cap · market cap 8.71%
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
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 85119, AZ
22,069
Population
13,462
Households
1.6
Avg Household Size
56
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
482
Density / Sq Mi
$69,949
Median Household Income
$44,223
Median Earnings
$1,365
Median Rent
$259,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom unit with tile floors, built-in appliances, and access to community amenities.
Where is this residential income property located?
The property is located at 1440 N Idaho Rd #1051 Apache Junction, AZ.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: Ground‑floor one‑bedroom, one‑bathroom apartment; Tile flooring, neutral finishes, and abundant natural light; Kitchen with flat‑panel cabinetry, ample counter space, and built‑in appliances
