Single-Level Residential Income
For Sale
$225,000
1920 W Lindner Avenue 107, Mesa, AZ 85202
Main-floor residence with a covered patio, private primary suite, and access to community recreation amenities.
Property Size1,018 SF
Days on Market36
Property Features for 1920 W Lindner Avenue 107
General Information
Standard status
Active
Size
1,018 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$984
Amenities
pool
spa
lake
golf
Building Details
Building Size
1,018 SF
Year Built
1980
Listing Agency:
Bentley & Company Real Estate
(480) 766-3953
Listed By:
Sue Bentley
(480) 766-3953
Source:
Gillettegroupaz
Added: Jul 10
Changed: Aug 11
Last Checked: Aug 13 at 11:52AM
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 Bentley & Company Real Estate
Investment Insights
Based on property information with market context.
This single-level residential income property at 1920 W Lindner Avenue 107 in Mesa, Arizona, was built in 1980 and features two bedrooms with no interior stairs. The interior combines neutral finishes, carpeting, and tile flooring with a kitchen equipped with white shaker cabinetry, substantial counter space, a pantry, and built-in appliances. Sliding doors connect the living area to a private covered patio. The primary bedroom includes mirrored closet doors and an ensuite bathroom.
Community amenities include a pool, spa, lake, and golf facilities. The property is designated as no-pets, with service animals permitted. Its main-floor layout and outdoor patio provide practical features for residential occupancy within a community setting.
Community amenities include a pool, spa, lake, and golf facilities. The property is designated as no-pets, with service animals permitted. Its main-floor layout and outdoor patio provide practical features for residential occupancy within a community setting.
Key Highlights
- Two‑bedroom, single‑level layout with no interior stairs
- Private covered patio accessed through sliding glass doors
- Kitchen includes white shaker cabinetry, pantry, counter space, and built‑in appliances
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
$7,961
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
3.54%
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%
$159,220
$159.2K
Cap Rate 7%
$113,729
$113.7K
Cap Rate 9%
$88,456
$88.5K
Market Conditions
NOI Build-Up for 1,018 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
$15.5K $15.24/SF
− Vacancy
−$1.0K −$1.02/SF
EGI
$14.5K $14.22/SF
− OpEx
−$6.5K −$6.40/SF
NOI
$8.0K $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%
$159,220
Cap Rate 7%
$113,729
Cap Rate 9%
$88,456
Alternative Uses
Best Use
Apartment 5plus
$113.7K
$99.5K – $132.7K
NOI $7,961 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$279.0K
$244.2K – $325.6K
NOI $19,533 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,015
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 - Main-floor residence with a covered patio, private primary suite, and access to community recreation amenities.
Where is this residential income property located?
The property is located at 1920 W Lindner Avenue 107 Mesa, AZ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑bedroom, single‑level layout with no interior stairs; Private covered patio accessed through sliding glass doors; Kitchen includes white shaker cabinetry, pantry, counter space, and built‑in appliances
