Updated Short-Term Rental
For Sale
$250,000
2320 N 52ND Street #115, Phoenix, AZ 85008
Two-bedroom, two-bathroom condo with refreshed systems, appliances, and finishes in a 40-unit community.
Property Size810 SF
Days on Market47
Property Features for 2320 N 52ND Street #115
General Information
Standard status
Active
Size
810 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
Fireplace
Programmable Thmstat
Electric
Central Air
Refrigerator
Dishwasher
Electric Range
Patio, Porch, SRP, Tile
Building Details
Building Size
810 SF
Year Built
1983
Stories
2
Listing Agency:
Realty Executives Arizona Territory
Listed By:
Realty Executives Arizona Territory
Source:
Kw
Added: Jul 17
Changed: Aug 31
Last Checked: Aug 31 at 1:27AM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This 2br/2ba condominium, built in 1983, combines recent interior updates with practical everyday features. Improvements include an updated HVAC system and window package, brand-new appliances, and fresh interior paint. The home also includes a fireplace, central air, programmable thermostat, electric range, refrigerator, dishwasher, patio, porch, and tile finishes.
Short-term rentals are permitted, including Airbnb and VRBO. The condo is positioned on the Phoenix, Scottsdale, and Tempe border, with freeway access and proximity to ASU, Old Town Scottsdale, Sky Harbor, and Downtown Phoenix. Papago Park and Arcadia hotspots are within walking distance. The property is part of a quiet community with only 40 units and an HOA.
Short-term rentals are permitted, including Airbnb and VRBO. The condo is positioned on the Phoenix, Scottsdale, and Tempe border, with freeway access and proximity to ASU, Old Town Scottsdale, Sky Harbor, and Downtown Phoenix. Papago Park and Arcadia hotspots are within walking distance. The property is part of a quiet community with only 40 units and an HOA.
Key Highlights
- Short‑term rentals permitted, including Airbnb and VRBO
- 2br/2ba condo with fresh interior paint and brand‑new appliances
- Updated HVAC system and window 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
$8,497
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
3.40%
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%
$169,940
$169.9K
Cap Rate 7%
$121,386
$121.4K
Cap Rate 9%
$94,411
$94.4K
Market Conditions
NOI Build-Up for 810 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
$16.5K $20.40/SF
− Vacancy
−$1.1K −$1.33/SF
EGI
$15.4K $19.07/SF
− OpEx
−$7.0K −$8.58/SF
NOI
$8.5K $10.49/SF
Area
ZIP 85008
Vacancy
6.50%
Lease Rate
$20.40 /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%
$169,940
Cap Rate 7%
$121,386
Cap Rate 9%
$94,411
Alternative Uses
Best Use
Apartment 5plus
$121.4K
$106.2K – $141.6K
NOI $8,497 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$250.3K
$219.0K – $292.1K
NOI $17,523 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Two-bedroom, two-bathroom condo with refreshed systems, appliances, and finishes in a 40-unit community.
Where is this short term rental property located?
The property is located at 2320 N 52ND Street #115 Phoenix, AZ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Short‑term rentals permitted, including Airbnb and VRBO; 2br/2ba condo with fresh interior paint and brand‑new appliances; Updated HVAC system and window package
