Updated Two-Bedroom
For Sale
$289,000
2941 E Darrow St, Phoenix, AZ 85042
Gated community residence with two baths, tile flooring, granite counters, and upgraded appliances.
Property Size1,205 SF
Price / SF$239.83
Days on Market96
Property Features for 2941 E Darrow St
General Information
Standard status
Active
Size
1,205 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
South Mountain
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
pool
parks
gated entrance
Building Details
Year Built
2006
Listing Agency:
Realty One Group
(602) 957-7777
Listed By:
Cook & Associates Real Estate Advisors
(480) 442-9868
Source:
Viewarizonahomesforsale
Added: Jul 29
Changed: Oct 31
Last Checked: Nov 1 at 5:00AM
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 One Group
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Investment Insights
Based on property information with market context.
This two-story condominium offers 1,205 square feet with two bedrooms and two bathrooms. Interior improvements include fresh paint, tile flooring throughout, a new water heater, updated lighting, cherry cabinetry, granite countertops, and upgraded appliances. The home was built in 2006 and is located within a gated community.
Community amenities and services covered by the HOA include the pool, parks, gated entry, water, sewer, trash collection, exterior maintenance, blanket insurance, exterior pest control, and roof repair and replacement. The property is situated minutes from Sky Harbor Airport, shopping, dining, and hiking trails.
Community amenities and services covered by the HOA include the pool, parks, gated entry, water, sewer, trash collection, exterior maintenance, blanket insurance, exterior pest control, and roof repair and replacement. The property is situated minutes from Sky Harbor Airport, shopping, dining, and hiking trails.
Key Highlights
- Two‑story condo with 1,205 square feet, 2 bedrooms, and 2 bathrooms
- Updated interior with all‑tile flooring, fresh paint, and stylish light fixtures
- Cherry cabinetry, granite countertops, and upgraded appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,055
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
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
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 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 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.0K
$319.4K – $425.8K
NOI $25,550 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
200
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 - Gated community residence with two baths, tile flooring, granite counters, and upgraded appliances.
Where is this residential income property located?
The property is located at 2941 E Darrow St Phoenix, AZ.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two‑story condo with 1,205 square feet, 2 bedrooms, and 2 bathrooms; Updated interior with all‑tile flooring, fresh paint, and stylish light fixtures; Cherry cabinetry, granite countertops, and upgraded appliances
