Updated Residential Income
For Sale
$350,000
1901 E MISSOURI Avenue 220, Phoenix, AZ 85016
The two-bedroom, two-bathroom residence features a renovated kitchen, in-unit laundry, and two assigned parking spaces.
Property Size1,265 SF
Price / SF$276.68
Days on Market84
Property Features for 1901 E MISSOURI Avenue 220
General Information
Standard status
Active
Size
1,265 SF
Total Parking Spaces
2
Property subtype
Apartment
Site & Location
Neighborhood
Camelback East
Highway Access
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,089
Building Details
Building Size
1,265 SF
Year Built
1963
Buildings
1
Listing Agency:
HomeSmart
Listed By:
Matthew B. Warren
(602) 549-1089
Source:
Inspiredrealestatelife
Added: Aug 6
Changed: Oct 26
Last Checked: Oct 26 at 2:47PM
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
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Investment Insights
Based on property information with market context.
This 1,265-square-foot residence has two bedrooms and two bathrooms, with a comprehensive interior renovation. The kitchen features 42-inch cabinets, a quartz island, a farmhouse sink, and a gas range. Other improvements include porcelain tile flooring, dual-pane windows, fresh paint, a gas water heater, and a full-size LG washer and dryer. The property was built in 1963, and the appliances were replaced one year ago. Two parking spaces are included, and HOA fees cover all utilities.
The property is in Phoenix’s Madison School District and sits just off the 51 Freeway. Pizzeria Bianco, Whole Foods, Trader Joe’s, Biltmore Fashion Park, and Camelback Mountain are among the listed nearby destinations. Sky Harbor Airport is described as a 10-minute trip.
The property is in Phoenix’s Madison School District and sits just off the 51 Freeway. Pizzeria Bianco, Whole Foods, Trader Joe’s, Biltmore Fashion Park, and Camelback Mountain are among the listed nearby destinations. Sky Harbor Airport is described as a 10-minute trip.
Key Highlights
- 1,265 square feet with two bedrooms and two bathrooms
- Renovated kitchen with 42‑inch cabinets, quartz island, farmhouse sink, and gas range
- Two parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,754
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,080
$295.1K
Cap Rate 7%
$210,771
$210.8K
Cap Rate 9%
$163,933
$163.9K
Market Conditions
NOI Build-Up for 1,265 SF
Gross rent
$28.5K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$26.8K $21.21/SF
− OpEx
−$12.1K −$9.54/SF
NOI
$14.8K $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 Rate 5%
$295,080
Cap Rate 7%
$210,771
Cap Rate 9%
$163,933
Alternative Uses
Best Use
Apartment 5plus
$210.8K
$184.4K – $245.9K
NOI $14,754 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$383.2K
$335.3K – $447.1K
NOI $26,823 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,475
Businesses Nearby
Explore this area
Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom, two-bathroom residence features a renovated kitchen, in-unit laundry, and two assigned parking spaces.
Where is this residential income property located?
The property is located at 1901 E MISSOURI Avenue 220 Phoenix, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,265 square feet with two bedrooms and two bathrooms; Renovated kitchen with 42‑inch cabinets, quartz island, farmhouse sink, and gas range; Two parking spaces included
