Two-Suite Residential Income
For Sale
$535,000
2300 E CAMPBELL Avenue 230, Phoenix, AZ 85016
A split layout combines two primary suites with a flexible den and a private balcony.
Property Size1,377 SF
Days on Market8
Property Features for 2300 E CAMPBELL Avenue 230
General Information
Standard status
Active
Size
1,377 SF
Total Parking Spaces
2
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,439
Amenities
pool
fitness center
rooftop lounge
Building Details
Building Size
1,377 SF
Year Built
2017
Listing Agency:
HomeSmart
Listed By:
Gabriel Mellinger
(602) 781-1219
Source:
Jcluxuryresidential
Added: Sep 25
Changed: Oct 2
Last Checked: Oct 1 at 5:01PM
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 HomeSmart
Investment Insights
Based on property information with market context.
Built in 2017, this corner residence has a split floor plan with two primary suites, 2.5 baths, and a den. The kitchen is equipped with quartz counters, a large island, glass tile backsplash, stainless steel appliances, and a Bosch gas range. Sliding doors connect the living area to a private balcony. Each bedroom includes a walk-in closet and a bath with a rain shower.
The property includes two underground parking spaces and private garage storage. Building amenities include a heated pool, fitness center, and rooftop lounge.
The property includes two underground parking spaces and private garage storage. Building amenities include a heated pool, fitness center, and rooftop lounge.
Key Highlights
- Two primary suites, 2.5 baths, and a den in a split floor plan
- Kitchen features quartz counters, a large island, glass tile backsplash, stainless steel appliances, and a Bosch gas range
- Private balcony accessed through sliding doors
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
$16,061
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
3.00%
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%
$321,220
$321.2K
Cap Rate 7%
$229,443
$229.4K
Cap Rate 9%
$178,456
$178.5K
Market Conditions
NOI Build-Up for 1,377 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
$31.1K $22.56/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$29.2K $21.21/SF
− OpEx
−$13.1K −$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%
$321,220
Cap Rate 7%
$229,443
Cap Rate 9%
$178,456
Alternative Uses
Best Use
Apartment 5plus
$229.4K
$200.8K – $267.7K
NOI $16,061 @ 7.0% cap · market cap 3.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.1K
$365.0K – $486.6K
NOI $29,197 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - A split layout combines two primary suites with a flexible den and a private balcony.
Where is this residential income property located?
The property is located at 2300 E CAMPBELL Avenue 230 Phoenix, AZ.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two primary suites, 2.5 baths, and a den in a split floor plan; Kitchen features quartz counters, a large island, glass tile backsplash, stainless steel appliances, and a Bosch gas range; Private balcony accessed through sliding doors
