Furnished Residential Income
For Sale
$199,500
205 N 74TH Street 236, Mesa, AZ 85207
Second-story residence includes private outdoor space and secure storage.
Property Size771 SF
Days on Market256
Property Features for 205 N 74TH Street 236
General Information
Standard status
Active
Size
771 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$592
Amenities
heated pools
hot tubs
club house
wood burning fireplace
private patio
covered patio
secure storage closet
washer/dryer stackable
Building Details
Building Size
771 SF
Year Built
1988
Listing Agency:
Keller Williams Integrity First
(480) 861-4338
Listed By:
Mary Newton · License #SA583867000
(480) 861-4338
Source:
Lostdutchmanrealty
Added: Dec 19, 2025
Changed: Aug 31
Last Checked: Aug 30 at 11:24PM
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 Keller Williams Integrity First
Investment Insights
Based on property information with market context.
This fully furnished second-story residential income property offers a one-bedroom, one-bath layout with practical interior and exterior features. The kitchen has an open-concept arrangement, updated appliances, and under-mount lighting. A vaulted-ceiling family room opens to a private patio with a large secure storage closet and wood-burning fireplace. The bedroom includes a full walk-in closet and access to a covered private patio. The bathroom features a tub/shower combination and a high-rise toilet installed in 2024. Carpet was installed in 2018, and a stackable washer/dryer from 2022 remains included.
Sunvalley Villas provides two heated pools, two hot tubs, and a clubhouse. The property is near dining and shopping, with access to the 202 loop and US 60. One reserved covered parking space is included.
Sunvalley Villas provides two heated pools, two hot tubs, and a clubhouse. The property is near dining and shopping, with access to the 202 loop and US 60. One reserved covered parking space is included.
Key Highlights
- Fully furnished 1 bedroom, 1 bath second‑story residence
- Private patio, covered bedroom patio, wood‑burning fireplace, and secure storage closet
- Kitchen includes updated appliances and under‑mount lighting
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
$8,044
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
4.03%
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%
$160,880
$160.9K
Cap Rate 7%
$114,914
$114.9K
Cap Rate 9%
$89,378
$89.4K
Market Conditions
NOI Build-Up for 771 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
$15.3K $19.80/SF
− Vacancy
−$641 −$0.83/SF
EGI
$14.6K $18.97/SF
− OpEx
−$6.6K −$8.54/SF
NOI
$8.0K $10.43/SF
Area
ZIP 85207
Vacancy
4.20%
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%
$160,880
Cap Rate 7%
$114,914
Cap Rate 9%
$89,378
Alternative Uses
Best Use
Apartment 5plus
$114.9K
$100.6K – $134.1K
NOI $8,044 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$193.9K
$169.7K – $226.2K
NOI $13,573 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 85207, AZ
50,108
Population
22,747
Households
2.2
Avg Household Size
45
Median Age
36%
College-Educated
92%
High-School Grad
29.4 sq mi
ZIP Area
1,704
Density / Sq Mi
$99,439
Median Household Income
$50,509
Median Earnings
$1,595
Median Rent
$460,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-story residence includes private outdoor space and secure storage.
Where is this residential income property located?
The property is located at 205 N 74TH Street 236 Mesa, AZ.
What is the asking price?
The asking price for this property is $199,500.
What are key features of this property?
This property features: Fully furnished 1 bedroom, 1 bath second‑story residence; Private patio, covered bedroom patio, wood‑burning fireplace, and secure storage closet; Kitchen includes updated appliances and under‑mount lighting
