Residential Income Property with
For Sale
$354,900
295 N RURAL Road 160, Chandler, AZ 85226
Condo with updated HVAC, private outdoor space, and access to extensive community amenities.
Property Size1,239 SF
Days on Market175
Property Features for 295 N RURAL Road 160
General Information
Standard status
Active
Size
1,239 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,401
Amenities
gated community
clubhouse
weight & exercise room
pool
spa
green common areas
covered patio
Building Details
Building Size
1,239 SF
Year Built
2006
Listing Agency:
RE/MAX Alliance Group
Listed By:
Jennifer Maxwell · License #SA663822000
(602) 753-6629
Source:
Jcluxuryresidential
Added: Mar 19
Changed: Sep 8
Last Checked: Sep 8 at 10:02AM
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 RE/MAX Alliance Group
Investment Insights
Based on property information with market context.
This residential income property is a condominium built in 2006, with an open interior arrangement and neutral finishes. The kitchen includes stainless steel appliances and honey oak cabinetry. The primary bedroom offers a walk-in closet and a full bathroom with dual sinks and a tub/shower combination. A new HVAC system adds a recent mechanical improvement, while the covered patio extends the living area outdoors beside landscaped green space.
The residence is located within a gated community in Chandler. Shared amenities include a clubhouse, weight and exercise room, large pool, spa, and additional landscaped common areas. The property combines a practical condominium layout with access to on-site recreational and community facilities.
The residence is located within a gated community in Chandler. Shared amenities include a clubhouse, weight and exercise room, large pool, spa, and additional landscaped common areas. The property combines a practical condominium layout with access to on-site recreational and community facilities.
Key Highlights
- Condominium built in 2006
- New HVAC system
- Kitchen with stainless steel appliances and honey oak cabinets
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
$14,142
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
3.98%
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%
$282,840
$282.8K
Cap Rate 7%
$202,029
$202.0K
Cap Rate 9%
$157,133
$157.1K
Market Conditions
NOI Build-Up for 1,239 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 $21.96/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$25.7K $20.75/SF
− OpEx
−$11.6K −$9.34/SF
NOI
$14.1K $11.41/SF
Area
Chandler, AZ
Vacancy
5.50%
Lease Rate
$21.96 /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%
$282,840
Cap Rate 7%
$202,029
Cap Rate 9%
$157,133
Alternative Uses
Best Use
Apartment 5plus
$202.0K
$176.8K – $235.7K
NOI $14,142 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.1K
$310.7K – $414.3K
NOI $24,859 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 85226, AZ
40,689
Population
17,406
Households
2.3
Avg Household Size
38
Median Age
50%
College-Educated
96%
High-School Grad
38.4 sq mi
ZIP Area
1,060
Density / Sq Mi
$103,740
Median Household Income
$58,515
Median Earnings
$1,785
Median Rent
$452,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condo with updated HVAC, private outdoor space, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 295 N RURAL Road 160 Chandler, AZ.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: Condominium built in 2006; New HVAC system; Kitchen with stainless steel appliances and honey oak cabinets
