First-Floor Residential Income
For Sale
$339,000
3270 E CAMELBACK Road 114, Phoenix, AZ 85018
Two-bedroom, two-bath condominium with a private patio and access to a community pool.
Property Size1,185 SF
Days on Market20
Property Features for 3270 E CAMELBACK Road 114
General Information
Standard status
Active
Size
1,185 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,298
Amenities
community pool
Building Details
Building Size
1,185 SF
Year Built
1960
Listing Agency:
HomeSmart
Listed By:
John L Schloz
(602) 570-5905
Source:
Jcluxuryresidential
Added: Aug 29
Changed: Sep 6
Last Checked: Sep 16 at 11:41PM
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 HomeSmart
Investment Insights
Based on property information with market context.
This first-floor condominium at Martinique offers a two-bedroom, two-bath layout with a private patio and views of mature landscaping. The community also includes a pool, adding an outdoor amenity directly on the property. Built in 1960, the residence provides a residential income property configuration suited to full-time occupancy, a lock-and-leave use, or investment ownership.
The property is located at 3270 E CAMELBACK Road 114 in Phoenix, near the 32nd Street and Camelback area. Restaurants, coffee shops, shopping, and everyday conveniences are within walking distance, while hiking and recreation areas are a short drive away. Its Central Phoenix setting combines neighborhood access with on-site outdoor space.
The property is located at 3270 E CAMELBACK Road 114 in Phoenix, near the 32nd Street and Camelback area. Restaurants, coffee shops, shopping, and everyday conveniences are within walking distance, while hiking and recreation areas are a short drive away. Its Central Phoenix setting combines neighborhood access with on-site outdoor space.
Key Highlights
- Two‑bedroom, two‑bath condominium
- First‑floor residence at Martinique
- Private patio with mature landscaping
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
$13,821
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
4.08%
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%
$276,420
$276.4K
Cap Rate 7%
$197,443
$197.4K
Cap Rate 9%
$153,567
$153.6K
Market Conditions
NOI Build-Up for 1,185 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
$26.7K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.1K $21.21/SF
− OpEx
−$11.3K −$9.54/SF
NOI
$13.8K $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%
$276,420
Cap Rate 7%
$197,443
Cap Rate 9%
$153,567
Alternative Uses
Best Use
Apartment 5plus
$197.4K
$172.8K – $230.4K
NOI $13,821 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.9K
$314.1K – $418.8K
NOI $25,126 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with a private patio and access to a community pool.
Where is this residential income property located?
The property is located at 3270 E CAMELBACK Road 114 Phoenix, AZ.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium; First‑floor residence at Martinique; Private patio with mature landscaping
