Residential Income Property with
New
For Sale
$250,000
2929 W Yorkshire Dr #1120, Phoenix, AZ 85027
Bottom-floor two-bedroom, two-bathroom condo with tile flooring, included appliances, a fireplace, and private outdoor storage.
Property Size872 SF
Price / SF$286.70
Days on Market5
Property Features for 2929 W Yorkshire Dr #1120
General Information
Standard status
Active
Size
872 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
gated community
pool
spa
clubhouse
fireplace
ceiling fans
private patio
storage unit
refrigerator included
washer and dryer included
Building Details
Year Built
1999
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Tucker and Oleg
(602) 688-2836
Source:
Kennethjamesrealty
Added: Sep 13
Changed: Sep 15
Last Checked: Sep 16 at 6:39PM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
This bottom-floor condominium offers a two-bedroom, two-bathroom layout with 872 of property size and a 1999 construction date. The interior features tile flooring throughout, a living room fireplace, ceiling fans, and a newer A/C unit. The kitchen includes electric appliances and a refrigerator, while the washer and dryer are also included. A private patio extends the usable space and includes an additional storage unit.
The home is located within a gated condominium community with several pools, spas, and clubhouse amenities. Its address at 2929 W Yorkshire Dr #1120 places the property near the I17 and 101 freeways. Ground-level positioning provides access without stairs.
The home is located within a gated condominium community with several pools, spas, and clubhouse amenities. Its address at 2929 W Yorkshire Dr #1120 places the property near the I17 and 101 freeways. Ground-level positioning provides access without stairs.
Key Highlights
- Bottom‑floor 2‑bedroom, 2‑bathroom condo
- 872 property size; built in 1999
- Tile flooring throughout with living room fireplace
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
$10,171
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
4.07%
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%
$203,420
$203.4K
Cap Rate 7%
$145,300
$145.3K
Cap Rate 9%
$113,011
$113.0K
Market Conditions
NOI Build-Up for 872 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
$19.7K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$18.5K $21.21/SF
− OpEx
−$8.3K −$9.54/SF
NOI
$10.2K $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%
$203,420
Cap Rate 7%
$145,300
Cap Rate 9%
$113,011
Alternative Uses
Best Use
Apartment 5plus
$145.3K
$127.1K – $169.5K
NOI $10,171 @ 7.0% cap · market cap 4.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.1K
$231.1K – $308.2K
NOI $18,490 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 85027, AZ
38,343
Population
17,458
Households
2.2
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
3,277
Density / Sq Mi
$73,255
Median Household Income
$46,338
Median Earnings
$1,488
Median Rent
$316,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bottom-floor two-bedroom, two-bathroom condo with tile flooring, included appliances, a fireplace, and private outdoor storage.
Where is this residential income property located?
The property is located at 2929 W Yorkshire Dr #1120 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: Bottom‑floor 2‑bedroom, 2‑bathroom condo; 872 property size; built in 1999; Tile flooring throughout with living room fireplace
