Upgraded Residential Income
For Sale
$500,000
2300 E CAMPBELL Avenue 202, Phoenix, AZ 85016
2017 residence with custom cabinetry, hardwood flooring, and access to fitness, pool, and clubhouse amenities.
Property Size1,382 SF
Days on Market33
Property Features for 2300 E CAMPBELL Avenue 202
General Information
Standard status
Active
Size
1,382 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,408
Amenities
fitness center
pool
clubhouse
roof top patio
fire pits
BBQs
gated covered parking
building security system
door key fobs
oversized patio
Building Details
Building Size
1,382 SF
Year Built
2017
Listing Agency:
Russ Lyon Sotheby's International Realty
Listed By:
Jennifer Schumacher · License #SA659792000
(480) 322-2593
Source:
Alexiabertsatos
Added: Aug 16
Changed: Sep 13
Last Checked: Sep 17 at 3:54AM
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 Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 2017, this upgraded residence combines a refined interior with practical storage and entertaining features. The kitchen includes upgraded appliances, customized cabinetry, and space for an under-counter microwave. Hardwood flooring, a newer sliding door, remote-controlled blinds, whole-house water filtration, and an oversized hot water heater add to the improvements. The primary suite includes a walk-in closet and dual vanities, while the 20 x 15 patio provides substantial outdoor space.
The property is situated in Phoenix’s Biltmore Area within a resort-style community offering a 2-story fitness center, pool, clubhouse, and rooftop patio with fire pits and BBQs. Additional community features include gated covered parking, a building security system, and door key fobs.
The property is situated in Phoenix’s Biltmore Area within a resort-style community offering a 2-story fitness center, pool, clubhouse, and rooftop patio with fire pits and BBQs. Additional community features include gated covered parking, a building security system, and door key fobs.
Key Highlights
- 2017 construction
- 20 x 15 oversized patio
- Kitchen with upgraded appliances and customized cabinetry
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
$16,119
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
3.22%
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%
$322,380
$322.4K
Cap Rate 7%
$230,271
$230.3K
Cap Rate 9%
$179,100
$179.1K
Market Conditions
NOI Build-Up for 1,382 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
$31.2K $22.56/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$29.3K $21.21/SF
− OpEx
−$13.2K −$9.54/SF
NOI
$16.1K $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 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%
$322,380
Cap Rate 7%
$230,271
Cap Rate 9%
$179,100
Alternative Uses
Best Use
Apartment 5plus
$230.3K
$201.5K – $268.7K
NOI $16,119 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,303 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 85016, AZ
37,326
Population
21,363
Households
1.7
Avg Household Size
38
Median Age
50%
College-Educated
94%
High-School Grad
8.2 sq mi
ZIP Area
4,552
Density / Sq Mi
$85,085
Median Household Income
$53,781
Median Earnings
$1,575
Median Rent
$508,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - 2017 residence with custom cabinetry, hardwood flooring, and access to fitness, pool, and clubhouse amenities.
Where is this residential income property located?
The property is located at 2300 E CAMPBELL Avenue 202 Phoenix, AZ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2017 construction; 20 x 15 oversized patio; Kitchen with upgraded appliances and customized cabinetry
