Residential Income Property with
For Sale
$180,000
200 E SOUTHERN Avenue 332, Tempe, AZ 85282
One-bedroom condo with pool access and a low-maintenance ownership profile near Mill Avenue.
Property Size622 SF
Price / SF$289.39
Days on Market90
Property Features for 200 E SOUTHERN Avenue 332
General Information
Standard status
Active
Size
622 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
private balcony
community pool
Building Details
Building Size
622 SF
Year Built
1986
Listing Agency:
Realty ONE Group
(480) 236-8760
Listed By:
Beth Rebenstorf · License #SA560450000
(480) 236-8760
Source:
Gillettegroupaz
Added: May 5
Changed: Jul 31
Last Checked: Aug 1 at 11:09AM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This 622-square-foot condominium includes one bedroom, one bathroom, and a private balcony. Built in 1986, the unit also provides access to a fenced community pool and offers a lock-and-leave ownership format described in the property remarks.
The property is located at 200 E Southern Avenue in Tempe, one block east of Mill Avenue. Restaurants, shopping, ASU, the 101 and 60 freeways, and Phoenix Sky Harbor Airport are identified as nearby or readily accessible destinations.
The property is located at 200 E Southern Avenue in Tempe, one block east of Mill Avenue. Restaurants, shopping, ASU, the 101 and 60 freeways, and Phoenix Sky Harbor Airport are identified as nearby or readily accessible destinations.
Key Highlights
- 622‑square‑foot condominium with 1 bedroom and 1 bathroom
- Private balcony included
- Access to a fenced community pool
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.3k | $26.16 |
| − Vacancy | −$944 | −$1.52 |
| EGI | $15.3k | $24.64 |
| − OpEx | −$6.9k | −$11.09 |
| NOI | $8.4k | $13.55 |
622 SF · lease $26.16/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$120.4K
$105.4K – $140.5K
NOI $8,430 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$195.6K
$171.2K – $228.2K
NOI $13,692 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Properties on Market for Residential income properties in Tempe
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condo with pool access and a low-maintenance ownership profile near Mill Avenue.
Where is this residential income property located?
The property is located at 200 E SOUTHERN Avenue 332 Tempe, AZ.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 622‑square‑foot condominium with 1 bedroom and 1 bathroom; Private balcony included; Access to a fenced community pool
