Ground-Floor Residential Income
For Sale
$235,000
3242 E CAMELBACK Road 106, Phoenix, AZ 85018
One-bedroom residence with refreshed flooring, an updated bathroom, and an open living area filled with natural light.
Property Size869 SF
Days on Market17
Property Features for 3242 E CAMELBACK Road 106
General Information
Standard status
Active
Size
869 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$929
Amenities
pool
Building Details
Building Size
869 SF
Year Built
1960
Listing Agency:
eXp Realty
Listed By:
Deborah Pacheco
(480) 620-1073
Source:
Alexiabertsatos
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 16 at 11:05PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This ground-floor one-bedroom residential income property was built in 1960 and features new flooring throughout, a recently updated bathroom, and an open living area with abundant natural light. The layout is designed around practical, low-maintenance living without excess space.
The property is positioned at 32nd Street and Camelback, within walking distance of coffee, dining, groceries, and other daily conveniences. Arcadia and the Biltmore are minutes away, while the surrounding area includes shopping, restaurants, hiking, and recreation. Community grounds include lush greenery and a sprawling pool with views of Piestewa Peak.
The property is positioned at 32nd Street and Camelback, within walking distance of coffee, dining, groceries, and other daily conveniences. Arcadia and the Biltmore are minutes away, while the surrounding area includes shopping, restaurants, hiking, and recreation. Community grounds include lush greenery and a sprawling pool with views of Piestewa Peak.
Key Highlights
- Ground‑floor one‑bedroom residence
- New flooring throughout
- Recently updated bathroom
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
$10,136
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
4.31%
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%
$202,720
$202.7K
Cap Rate 7%
$144,800
$144.8K
Cap Rate 9%
$112,622
$112.6K
Market Conditions
NOI Build-Up for 869 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
$19.6K $22.56/SF
− Vacancy
−$1.2K −$1.35/SF
EGI
$18.4K $21.21/SF
− OpEx
−$8.3K −$9.54/SF
NOI
$10.1K $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%
$202,720
Cap Rate 7%
$144,800
Cap Rate 9%
$112,622
Alternative Uses
Best Use
Apartment 5plus
$144.8K
$126.7K – $168.9K
NOI $10,136 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$263.2K
$230.3K – $307.1K
NOI $18,426 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,686
Businesses Nearby
Explore this area
Business Placement
Demographics for 85018, AZ
37,944
Population
19,487
Households
1.9
Avg Household Size
40
Median Age
57%
College-Educated
92%
High-School Grad
15.1 sq mi
ZIP Area
2,513
Density / Sq Mi
$87,637
Median Household Income
$58,555
Median Earnings
$1,411
Median Rent
$805,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with refreshed flooring, an updated bathroom, and an open living area filled with natural light.
Where is this residential income property located?
The property is located at 3242 E CAMELBACK Road 106 Phoenix, AZ.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Ground‑floor one‑bedroom residence; New flooring throughout; Recently updated bathroom
