Ground-Floor
For Sale
$208,000
202 E RUTH Avenue 2, Phoenix, AZ 85020
Renovated interiors include granite counters, stainless steel appliances, and vinyl plank flooring.
Property Size952 SF
Price / SF$218.49
Days on Market251
Property Features for 202 E RUTH Avenue 2
General Information
Standard status
Active
Size
952 SF
Total Parking Spaces
1
Property subtype
Apartment
Site & Location
Neighborhood
North Mountain
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$455
Building Details
Building Size
952 SF
Year Built
1982
Year Renovated
2021
Listing Agency:
Pak Home Realty
Listed By:
Mark C Colbert
(480) 925-9204
Source:
Arizonaproperrealestate
Added: Feb 19
Changed: Oct 26
Last Checked: Oct 26 at 2:36PM
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 Pak Home Realty
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Investment Insights
Based on property information with market context.
This 952-square-foot, ground-floor condominium in Phoenix has two bedrooms and two bathrooms. Renovated in 2021, the unit features white shaker kitchen cabinets, granite countertops, a custom backsplash, and stainless steel appliances. Vinyl plank flooring extends throughout, and updates include lighting, ceiling fans, window coverings, bathroom vanities, and plumbing fixtures. The living room connects to a separate dining area, while a shelved storage closet adds space for belongings.
The property was built in 1982. Parking includes one assigned space, with additional street parking available.
The property was built in 1982. Parking includes one assigned space, with additional street parking available.
Key Highlights
- 952‑square‑foot condominium with two bedrooms and two bathrooms
- Renovated in 2021
- Ground‑floor unit with separate living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,104
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$222,080
$222.1K
Cap Rate 7%
$158,629
$158.6K
Cap Rate 9%
$123,378
$123.4K
Market Conditions
NOI Build-Up for 952 SF
Gross rent
$21.5K $22.56/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$20.2K $21.21/SF
− OpEx
−$9.1K −$9.54/SF
NOI
$11.1K $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%
$222,080
Cap Rate 7%
$158,629
Cap Rate 9%
$123,378
Alternative Uses
Best Use
Apartment 5plus
$158.6K
$138.8K – $185.1K
NOI $11,104 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.4K
$252.3K – $336.4K
NOI $20,186 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,866
Businesses Nearby
Explore this area
Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated interiors include granite counters, stainless steel appliances, and vinyl plank flooring.
Where is this residential income property located?
The property is located at 202 E RUTH Avenue 2 Phoenix, AZ.
What is the asking price?
The asking price for this property is $208,000.
What are key features of this property?
This property features: 952‑square‑foot condominium with two bedrooms and two bathrooms; Renovated in 2021; Ground‑floor unit with separate living and dining areas
