Two-Bedroom Residential Income
New
For Sale
$290,000
2909 E Dunbar Dr E, Phoenix, AZ 85042
End-unit layout includes an attached garage and access to shared recreation amenities in a gated community.
Property Size1,205 SF
Price / SF$240.66
Days on Market3
Property Features for 2909 E Dunbar Dr E
General Information
Standard status
Active
Size
1,205 SF
Property subtype
Multi-Family
Building Details
Year Built
2006
Listing Agency:
Grigg's Group Powered By The Altman Brothers
(480) 788-0929
Listed By:
The Garcia Group
(480) 771-2303
Source:
Beckygarcia
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 10:53AM
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 Grigg's Group Powered By The Altman Brothers
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath end-unit residence has an open floor plan, a family-room surround sound setup, and a kitchen with quartz countertops, a breakfast bar, and pantry. The primary suite features a walk-in closet, dual sinks, and a separate shower. The property includes a 1-car garage and was built in 2006; its listed size is 1,205.
Set within the gated Hunter Ridge community, the home faces green space with views toward Legacy Golf Resort. Shared amenities include two pools, heated spas, a playground, volleyball courts, and walking and biking paths. South Mountain Park & Preserve, downtown Phoenix, golf, dining, shopping, and major freeways are described as minutes away.
Set within the gated Hunter Ridge community, the home faces green space with views toward Legacy Golf Resort. Shared amenities include two pools, heated spas, a playground, volleyball courts, and walking and biking paths. South Mountain Park & Preserve, downtown Phoenix, golf, dining, shopping, and major freeways are described as minutes away.
Key Highlights
- 2‑bedroom, 2‑bath end‑unit residence
- 1‑car garage
- Built in 2006; listed property size is 1205
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
$14,055
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
4.85%
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%
$281,100
$281.1K
Cap Rate 7%
$200,786
$200.8K
Cap Rate 9%
$156,167
$156.2K
Market Conditions
NOI Build-Up for 1,205 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
$27.2K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.6K $21.21/SF
− OpEx
−$11.5K −$9.54/SF
NOI
$14.1K $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%
$281,100
Cap Rate 7%
$200,786
Cap Rate 9%
$156,167
Alternative Uses
Best Use
Apartment 5plus
$200.8K
$175.7K – $234.3K
NOI $14,055 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.0K
$319.4K – $425.8K
NOI $25,550 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
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Business Placement
Demographics for 85042, AZ
45,433
Population
16,139
Households
2.8
Avg Household Size
35
Median Age
32%
College-Educated
82%
High-School Grad
19.4 sq mi
ZIP Area
2,342
Density / Sq Mi
$86,837
Median Household Income
$46,897
Median Earnings
$1,495
Median Rent
$353,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - End-unit layout includes an attached garage and access to shared recreation amenities in a gated community.
Where is this residential income property located?
The property is located at 2909 E Dunbar Dr E Phoenix, AZ.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath end‑unit residence; 1‑car garage; Built in 2006; listed property size is 1205
