Two-Bedroom Residential
New
For Sale
$180,000
1645 W Baseline Rd #2107, Mesa, AZ 85202
A two-story layout pairs an open living area with a balcony and in-unit laundry.
Property Size960 SF
Price / SF$187.50
Days on Market3
Property Features for 1645 W Baseline Rd #2107
General Information
Standard status
Active
Size
960 SF
Property subtype
Multi-Family
Building Details
Year Built
1982
Listing Agency:
Michelle Ventures Real Estate
(602) 791-2191
Listed By:
The Crouch Group
(623) 294-9492
Source:
Crouchgroupaz
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 11:11AM
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 Michelle Ventures Real Estate
Investment Insights
Based on property information with market context.
This two-bedroom condominium is arranged over two stories, with 1.5 baths. The open living and dining area includes a breakfast bar, and the home also has a balcony and in-unit laundry. Upstairs, the primary bedroom has a full bath and walk-in closet; the second room offers flexible space. The air conditioning system is 2 years old.
The homeowners association includes water, trash, and sewer service. Community amenities include a pool and maintained grounds. The property is at 1645 W Baseline Rd #2107 in Mesa, Arizona.
The homeowners association includes water, trash, and sewer service. Community amenities include a pool and maintained grounds. The property is at 1645 W Baseline Rd #2107 in Mesa, Arizona.
Key Highlights
- Two bedrooms and 1.5 baths in a two‑story condominium
- Open living and dining area with breakfast bar
- Balcony and in‑unit laundry
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
$7,508
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
4.17%
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%
$150,160
$150.2K
Cap Rate 7%
$107,257
$107.3K
Cap Rate 9%
$83,422
$83.4K
Market Conditions
NOI Build-Up for 960 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
$14.6K $15.24/SF
− Vacancy
−$980 −$1.02/SF
EGI
$13.7K $14.22/SF
− OpEx
−$6.1K −$6.40/SF
NOI
$7.5K $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 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%
$150,160
Cap Rate 7%
$107,257
Cap Rate 9%
$83,422
Alternative Uses
Best Use
Apartment 5plus
$107.3K
$93.9K – $125.1K
NOI $7,508 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.1K
$230.3K – $307.0K
NOI $18,420 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,599
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 - A two-story layout pairs an open living area with a balcony and in-unit laundry.
Where is this residential income property located?
The property is located at 1645 W Baseline Rd #2107 Mesa, AZ.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two bedrooms and 1.5 baths in a two‑story condominium; Open living and dining area with breakfast bar; Balcony and in‑unit laundry
