Two-Bedroom Residential Income
For Sale
$150,000
1440 N IDAHO Road 1062, Apache Junction, AZ 85119
Lower-level condominium with a step-free layout, patio storage, covered parking, and access to community amenities.
Property Size871 SF
Days on Market27
Property Features for 1440 N IDAHO Road 1062
General Information
Standard status
Active
Size
871 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$729
Amenities
heated pool
spa
community laundry
Building Details
Building Size
871 SF
Year Built
1993
Listing Agency:
Realty ONE Group
(602) 206-7586
Listed By:
Jason Spitler
(602) 206-7586
Source:
Lostdutchmanrealty
Added: Aug 5
Changed: Aug 23
Last Checked: Aug 31 at 12:21AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
Unit 1062 at Quail Creek Condominiums is a lower-level residential income property in Apache Junction, Arizona. The condominium includes two bedrooms, one and one-half baths, a great room floor plan, vinyl flooring throughout, and no interior steps. A storage room is located on the patio, and the unit includes one dedicated covered parking space.
Community features include a heated pool, spa, and laundry facilities, with grounds maintained throughout the condominium community. The property has views of Superstition Mountain. The homeowners association covers water, sewer, and trash. Built in 1993, the unit is located at 1440 N IDAHO Road 1062.
Community features include a heated pool, spa, and laundry facilities, with grounds maintained throughout the condominium community. The property has views of Superstition Mountain. The homeowners association covers water, sewer, and trash. Built in 1993, the unit is located at 1440 N IDAHO Road 1062.
Key Highlights
- Two‑bedroom, 1.5‑bath condominium with a great room floor plan
- Lower‑level unit with no interior steps
- Superstition Mountain views from Quail Creek Condominiums
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
$6,853
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
4.57%
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%
$137,060
$137.1K
Cap Rate 7%
$97,900
$97.9K
Cap Rate 9%
$76,144
$76.1K
Market Conditions
NOI Build-Up for 871 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
$14.1K $16.20/SF
− Vacancy
−$1.7K −$1.90/SF
EGI
$12.5K $14.30/SF
− OpEx
−$5.6K −$6.44/SF
NOI
$6.9K $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%
$137,060
Cap Rate 7%
$97,900
Cap Rate 9%
$76,144
Alternative Uses
Best Use
Apartment 5plus
$97.9K
$85.7K – $114.2K
NOI $6,853 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.8K
$210.7K – $280.9K
NOI $16,856 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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 - Lower-level condominium with a step-free layout, patio storage, covered parking, and access to community amenities.
Where is this residential income property located?
The property is located at 1440 N IDAHO Road 1062 Apache Junction, AZ.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath condominium with a great room floor plan; Lower‑level unit with no interior steps; Superstition Mountain views from Quail Creek Condominiums
