Two-Bedroom Residential Income
New
For Sale
$219,900
17062 N 106th Avenue, Sun City, AZ 85373
Updated kitchen, newer appliances, and HOA-supported maintenance create a simplified ownership experience.
Property Size1,401 SF
Days on Market5
Property Features for 17062 N 106th Avenue
General Information
Standard status
Active
Size
1,401 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$344
Building Details
Building Size
1,401 SF
Year Built
1974
Stories
1
Listing Agency:
Realty ONE Group
(623) 826-9346
Listed By:
Regina M Kefer
(623) 826-9346
Source:
Sunhaven-realestate
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 8 at 11:39AM
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.
Built in 1974, this two-bedroom, two-bath residential income property in Sun City features a comfortable floor plan, an updated kitchen, and newer appliances. The home is positioned for low-maintenance ownership, with the HOA covering roof repair and replacement, water, sewer, garbage, exterior pest control, common-area maintenance, and blanket insurance.
Residents have access to eight recreation centers, golf courses, pools, fitness centers, clubs, and organized activities. The property is also near shopping, dining, medical facilities, and entertainment, supporting both year-round living and seasonal use.
Residents have access to eight recreation centers, golf courses, pools, fitness centers, clubs, and organized activities. The property is also near shopping, dining, medical facilities, and entertainment, supporting both year-round living and seasonal use.
Key Highlights
- Two‑bedroom, two‑bath home built in 1974
- Updated kitchen with newer appliances
- HOA covers roof repair and replacement, water, sewer, and garbage
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
$15,812
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
7.19%
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%
$316,240
$316.2K
Cap Rate 7%
$225,886
$225.9K
Cap Rate 9%
$175,689
$175.7K
Market Conditions
NOI Build-Up for 1,401 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
$30.3K $21.60/SF
− Vacancy
−$1.5K −$1.08/SF
EGI
$28.7K $20.52/SF
− OpEx
−$12.9K −$9.23/SF
NOI
$15.8K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /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%
$316,240
Cap Rate 7%
$225,886
Cap Rate 9%
$175,689
Alternative Uses
Best Use
Apartment 5plus
$225.9K
$197.7K – $263.5K
NOI $15,812 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$433.4K
$379.2K – $505.6K
NOI $30,336 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 85373, AZ
19,629
Population
10,749
Households
1.8
Avg Household Size
64
Median Age
31%
College-Educated
95%
High-School Grad
11.3 sq mi
ZIP Area
1,737
Density / Sq Mi
$68,445
Median Household Income
$42,133
Median Earnings
$1,950
Median Rent
$317,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated kitchen, newer appliances, and HOA-supported maintenance create a simplified ownership experience.
Where is this residential income property located?
The property is located at 17062 N 106th Avenue Sun City, AZ.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath home built in 1974; Updated kitchen with newer appliances; HOA covers roof repair and replacement, water, sewer, and garbage
