Updated Residential Income
For Sale
$198,000
1927 E HAMPTON Avenue 115, Mesa, AZ 85204
The first-floor residence has a divided two-bedroom layout and an updated kitchen with stainless steel appliances.
Property Size988 SF
Days on Market165
Property Features for 1927 E HAMPTON Avenue 115
General Information
Standard status
Active
Size
988 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$398
Amenities
pool
spa
BBQ area
greenbelts
walking paths
Building Details
Building Size
988 SF
Year Built
1982
Listing Agency:
Revinre
Listed By:
Courtney Paige Holt
(623) 687-0379
Source:
Gillettegroupaz
Added: Apr 21
Changed: Sep 29
Last Checked: Oct 1 at 5:45PM
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 Revinre
Investment Insights
Based on property information with market context.
Built in 1982, this first-floor residential property is configured with two bedrooms and two bathrooms in a split floorplan. The kitchen has refreshed cabinetry, butcher-block counters, a modern sink, and matching stainless steel appliances. The primary bedroom includes a walk-in closet, while the second bedroom is positioned across the residence. A new water heater was installed in 2026, and the electrical panel was replaced in 2025. The refrigerator, washer, and dryer are included.
Community features include a pool, spa, BBQ area, greenbelts, and walking paths.
Community features include a pool, spa, BBQ area, greenbelts, and walking paths.
Key Highlights
- Two bedrooms and two bathrooms in a first‑floor residence
- Split floorplan with a walk‑in closet in the primary bedroom
- Updated kitchen with butcher‑block counters and stainless steel 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
$10,200
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
5.15%
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%
$204,000
$204.0K
Cap Rate 7%
$145,714
$145.7K
Cap Rate 9%
$113,333
$113.3K
Market Conditions
NOI Build-Up for 988 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
$19.6K $19.80/SF
− Vacancy
−$1.0K −$1.03/SF
EGI
$18.5K $18.77/SF
− OpEx
−$8.3K −$8.45/SF
NOI
$10.2K $10.32/SF
Area
ZIP 85204
Vacancy
5.20%
Lease Rate
$19.80 /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%
$204,000
Cap Rate 7%
$145,714
Cap Rate 9%
$113,333
Alternative Uses
Best Use
Apartment 5plus
$145.7K
$127.5K – $170.0K
NOI $10,200 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.1K
$287.1K – $382.7K
NOI $22,964 @ 7.0% cap · market cap 11.60%
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
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 85204, AZ
63,808
Population
24,536
Households
2.6
Avg Household Size
33
Median Age
20%
College-Educated
84%
High-School Grad
9.9 sq mi
ZIP Area
6,445
Density / Sq Mi
$69,474
Median Household Income
$40,347
Median Earnings
$1,426
Median Rent
$296,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The first-floor residence has a divided two-bedroom layout and an updated kitchen with stainless steel appliances.
Where is this residential income property located?
The property is located at 1927 E HAMPTON Avenue 115 Mesa, AZ.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms in a first‑floor residence; Split floorplan with a walk‑in closet in the primary bedroom; Updated kitchen with butcher‑block counters and stainless steel appliances
