Updated Residential Income
For Sale
$219,900
1734 W TUCKEY Lane 11, Phoenix, AZ 85015
Remodeled condo unit with stainless appliances, stackable laundry, community pool access, and an enclosed garage.
Property Size1,080 SF
Price / SF$203.61
Days on Market182
Property Features for 1734 W TUCKEY Lane 11
General Information
Standard status
Active
Size
1,080 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$455
Amenities
pool
Building Details
Building Size
1,080 SF
Year Built
1964
Listing Agency:
HomeSmart
Listed By:
Mark Evan Chaney
(602) 679-7188
Source:
Alexiabertsatos
Added: Mar 20
Changed: Sep 14
Last Checked: Sep 17 at 12:28AM
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 HomeSmart
Investment Insights
Based on property information with market context.
This updated residential income property is a 1,080-square-foot condominium unit with two bedrooms and one and a half bathrooms. The remodeled interior includes stainless steel appliances, coordinated granite countertops, tile flooring, and a stackable washer and dryer. A one-car enclosed garage is positioned in the alley behind the complex, while the community pool is located nearby.
Built in 1964, the property is located at 1734 W Tuckey Lane 11 in Phoenix, Arizona. The condominium layout and included improvements provide a defined residential asset with dedicated garage parking and access to a shared recreational amenity.
Built in 1964, the property is located at 1734 W Tuckey Lane 11 in Phoenix, Arizona. The condominium layout and included improvements provide a defined residential asset with dedicated garage parking and access to a shared recreational amenity.
Key Highlights
- 2 bedrooms and 1.5 bathrooms in a 1,080‑square‑foot condo unit
- Remodeled interior with stainless steel appliances and granite countertops
- Tile flooring throughout the condominium
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
$12,597
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
5.73%
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%
$251,940
$251.9K
Cap Rate 7%
$179,957
$180.0K
Cap Rate 9%
$139,967
$140.0K
Market Conditions
NOI Build-Up for 1,080 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
$24.4K $22.56/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$22.9K $21.21/SF
− OpEx
−$10.3K −$9.54/SF
NOI
$12.6K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /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%
$251,940
Cap Rate 7%
$179,957
Cap Rate 9%
$139,967
Alternative Uses
Best Use
Apartment 5plus
$180.0K
$157.5K – $210.0K
NOI $12,597 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$327.1K
$286.3K – $381.7K
NOI $22,900 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled condo unit with stainless appliances, stackable laundry, community pool access, and an enclosed garage.
Where is this residential income property located?
The property is located at 1734 W TUCKEY Lane 11 Phoenix, 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: 2 bedrooms and 1.5 bathrooms in a 1,080‑square‑foot condo unit; Remodeled interior with stainless steel appliances and granite countertops; Tile flooring throughout the condominium
