Residential Income Property with
For Sale
$224,900
Pending
1730 W EMELITA Avenue 2034, Mesa, AZ 85202
Split-bedroom condo layout includes two full baths, a breakfast area, and access to a community pool.
Property Size954 SF
Days on Market204
Property Features for 1730 W EMELITA Avenue 2034
General Information
Standard status
Pending
Size
954 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$409
Amenities
community pool
Building Details
Building Size
954 SF
Year Built
1979
Listing Agency:
eXp Realty
Listed By:
Jason L Penrose · License #BR518159000
(602) 738-9943
Source:
Gillettegroupaz
Added: Feb 13
Changed: Aug 31
Last Checked: Sep 5 at 7:27AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1979, this two-bedroom, two-bath condominium offers a split-bedroom arrangement with the primary suite and its full bath separated from the secondary bedroom and hall bath. The interior includes an open great room, tile flooring, and a breakfast room adjoining the kitchen. A large private patio faces landscaped grounds and mature shade trees, adding outdoor living space and a quiet outlook.
The community provides a pool for resident use. The property is positioned near Fiesta Mall, Mesa Community College, shopping, dining, and the Fiesta District, with access to US-60 and Loop 101 for regional travel.
The community provides a pool for resident use. The property is positioned near Fiesta Mall, Mesa Community College, shopping, dining, and the Fiesta District, with access to US-60 and Loop 101 for regional travel.
Key Highlights
- Two‑bedroom, two‑bath condominium with split‑bedroom floor plan
- Primary suite includes a full bath; secondary bedroom is served by a full hall bath
- Open great room with tile flooring and adjacent breakfast room
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
$7,461
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
3.32%
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%
$149,220
$149.2K
Cap Rate 7%
$106,586
$106.6K
Cap Rate 9%
$82,900
$82.9K
Market Conditions
NOI Build-Up for 954 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
$14.5K $15.24/SF
− Vacancy
−$974 −$1.02/SF
EGI
$13.6K $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%
$149,220
Cap Rate 7%
$106,586
Cap Rate 9%
$82,900
Alternative Uses
Best Use
Apartment 5plus
$106.6K
$93.3K – $124.4K
NOI $7,461 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.5K
$228.8K – $305.1K
NOI $18,305 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,162
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Split-bedroom condo layout includes two full baths, a breakfast area, and access to a community pool.
Where is this residential income property located?
The property is located at 1730 W EMELITA Avenue 2034 Mesa, AZ.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with split‑bedroom floor plan; Primary suite includes a full bath; secondary bedroom is served by a full hall bath; Open great room with tile flooring and adjacent breakfast room
