Ground-Level Residential Income
For Sale
$265,000
205 N 74th Street #112, Mesa, AZ 85207
Two-bedroom unit with a covered patio, split bedroom layout, upgraded appliances, and community pool and spa access.
Property Size1,342 SF
Price / SF$197.47
Days on Market42
Property Features for 205 N 74th Street #112
General Information
Standard status
Active
Size
1,342 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$852
Building Details
Building Size
1,342 SF
Year Built
2001
Stories
2
Listing Agency:
Property Management Real Estate
(623) 486-5800
Listed By:
Charles P. Turner
(602) 999-0809
Source:
Aznewhorizonrealty
Added: Jul 23
Changed: Aug 30
Last Checked: Aug 31 at 5:11PM
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 Property Management Real Estate
Investment Insights
Based on property information with market context.
This ground-level residential income property at Sun Valley Villas offers 1,342 square feet with a two-bedroom, two-bath configuration. The interior includes tall ceilings, a semi-open arrangement, recessed lighting, wood-look flooring, custom gray paint, plantation shutters, and substantial natural light. The kitchen provides generous storage and an upgraded appliance package. The primary bedroom is separated from the second bedroom and opens to the rear patio; the second bedroom can function as a home office or studio. A full bathroom includes dual sinks.
The unit includes a covered rear patio and assigned carport parking. Community amenities include a pool and spa. The property is located at 205 N 74th Street #112, Mesa, AZ 85207, near shopping and access to the 202 and 60 freeways. Built in 2001.
The unit includes a covered rear patio and assigned carport parking. Community amenities include a pool and spa. The property is located at 205 N 74th Street #112, Mesa, AZ 85207, near shopping and access to the 202 and 60 freeways. Built in 2001.
Key Highlights
- 1,342‑square‑foot ground‑level unit at Sun Valley Villas
- Two‑bedroom, two‑bath layout with separated primary bedroom
- Kitchen includes generous storage and an upgraded appliance package
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
$14,001
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
5.28%
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%
$280,020
$280.0K
Cap Rate 7%
$200,014
$200.0K
Cap Rate 9%
$155,567
$155.6K
Market Conditions
NOI Build-Up for 1,342 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
$26.6K $19.80/SF
− Vacancy
−$1.1K −$0.83/SF
EGI
$25.5K $18.97/SF
− OpEx
−$11.5K −$8.54/SF
NOI
$14.0K $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%
$280,020
Cap Rate 7%
$200,014
Cap Rate 9%
$155,567
Alternative Uses
Best Use
Apartment 5plus
$200.0K
$175.0K – $233.4K
NOI $14,001 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$337.5K
$295.3K – $393.8K
NOI $23,625 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Two-bedroom unit with a covered patio, split bedroom layout, upgraded appliances, and community pool and spa access.
Where is this residential income property located?
The property is located at 205 N 74th Street #112 Mesa, AZ.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1,342‑square‑foot ground‑level unit at Sun Valley Villas; Two‑bedroom, two‑bath layout with separated primary bedroom; Kitchen includes generous storage and an upgraded appliance package
