Tenant-Occupied Two-Bedroom
For Sale
$149,500
2412 W CAMPBELL Avenue 318, Phoenix, AZ 85015
Updated condo with a current tenant, new appliances, and access to a community pool.
Property Size840 SF
Days on Market86
Property Features for 2412 W CAMPBELL Avenue 318
General Information
Standard status
Active
Size
840 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$276
Building Details
Building Size
840 SF
Year Built
1965
Listing Agency:
HomeSmart
(602) 741-4343
Listed By:
Rachel Yusupova · License #SA550147000
(602) 741-4343
Source:
Alexiabertsatos
Added: May 22
Changed: Aug 14
Last Checked: Aug 14 at 12:55PM
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.
This tenant-occupied condominium offers a two-bedroom, one-bathroom layout with updated interiors and new appliances. The residence includes access to a community pool, while the existing long-term tenancy provides an established rental arrangement for the next owner.
The property is near the 17 FWY and I-10 FWY, Grand Canyon University, Valley Metro, and downtown Phoenix. Built in 1965, it combines a residential condominium format with proximity to major transportation, education, transit, and urban destinations.
The property is near the 17 FWY and I-10 FWY, Grand Canyon University, Valley Metro, and downtown Phoenix. Built in 1965, it combines a residential condominium format with proximity to major transportation, education, transit, and urban destinations.
Key Highlights
- Tenant‑occupied condo with a long‑term tenant
- Two‑bedroom, 1‑bathroom residential layout
- Updated interior with new appliances
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
$9,797
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
6.55%
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%
$195,940
$195.9K
Cap Rate 7%
$139,957
$140.0K
Cap Rate 9%
$108,856
$108.9K
Market Conditions
NOI Build-Up for 840 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
$19.0K $22.56/SF
− Vacancy
−$1.1K −$1.35/SF
EGI
$17.8K $21.21/SF
− OpEx
−$8.0K −$9.54/SF
NOI
$9.8K $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%
$195,940
Cap Rate 7%
$139,957
Cap Rate 9%
$108,856
Alternative Uses
Best Use
Apartment 5plus
$140.0K
$122.5K – $163.3K
NOI $9,797 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$254.4K
$222.6K – $296.9K
NOI $17,811 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 85015, AZ
41,436
Population
17,889
Households
2.3
Avg Household Size
33
Median Age
25%
College-Educated
78%
High-School Grad
4.9 sq mi
ZIP Area
8,456
Density / Sq Mi
$52,585
Median Household Income
$36,456
Median Earnings
$1,227
Median Rent
$312,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with a current tenant, new appliances, and access to a community pool.
Where is this residential income property located?
The property is located at 2412 W CAMPBELL Avenue 318 Phoenix, AZ.
What is the asking price?
The asking price for this property is $149,500.
What are key features of this property?
This property features: Tenant‑occupied condo with a long‑term tenant; Two‑bedroom, 1‑bathroom residential layout; Updated interior with new appliances
