One-Bedroom
For Sale
$174,900
200 E SOUTHERN Avenue 256, Tempe, AZ 85282
The residence includes a walk-in closet, in-unit washer and dryer, and a covered patio with additional storage.
Property Size629 SF
Days on Market13
Property Features for 200 E SOUTHERN Avenue 256
General Information
Standard status
Active
Size
629 SF
Property subtype
Apartment
Site & Location
Neighborhood
Chesapeake
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$834
Amenities
pool
spa
lush grounds
covered patio
extra storage
washer & dryer
Building Details
Building Size
629 SF
Year Built
1986
Listing Agency:
RE/MAX Fine Properties
Listed By:
Cynthia Thompson · License #BR649299000
(480) 589-1946
Source:
Gillettegroupaz
Added: Oct 22
Changed: Oct 31
Last Checked: Nov 1 at 2:56PM
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 RE/MAX Fine Properties
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bathroom condominium offers an open living area, a kitchen with ample cabinetry, and a bedroom with a walk-in closet. A washer and dryer are included, and the covered patio provides additional storage. The building dates to 1986.
Community amenities include pools, a spa, and landscaped grounds. Fry’s, Walmart, a fitness center, Fate Brewing, and other dining options are nearby. The property is also described as having access to US-60, Loop 202, and light rail.
Community amenities include pools, a spa, and landscaped grounds. Fry’s, Walmart, a fitness center, Fate Brewing, and other dining options are nearby. The property is also described as having access to US-60, Loop 202, and light rail.
Key Highlights
- One bedroom and one bathroom
- Open living room and kitchen with ample cabinetry
- Walk‑in closet in the bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,525
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$170,500
$170.5K
Cap Rate 7%
$121,786
$121.8K
Cap Rate 9%
$94,722
$94.7K
Market Conditions
NOI Build-Up for 629 SF
Gross rent
$16.5K $26.16/SF
− Vacancy
−$954 −$1.52/SF
EGI
$15.5K $24.64/SF
− OpEx
−$7.0K −$11.09/SF
NOI
$8.5K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$170,500
Cap Rate 7%
$121,786
Cap Rate 9%
$94,722
Alternative Uses
Best Use
Apartment 5plus
$121.8K
$106.6K – $142.1K
NOI $8,525 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$197.8K
$173.1K – $230.8K
NOI $13,846 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 85282, AZ
52,351
Population
25,667
Households
2
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
11.1 sq mi
ZIP Area
4,716
Density / Sq Mi
$79,084
Median Household Income
$43,863
Median Earnings
$1,627
Median Rent
$370,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The residence includes a walk-in closet, in-unit washer and dryer, and a covered patio with additional storage.
Where is this residential income property located?
The property is located at 200 E SOUTHERN Avenue 256 Tempe, AZ.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: One bedroom and one bathroom; Open living room and kitchen with ample cabinetry; Walk‑in closet in the bedroom
