Updated 1-Bedroom Income
For Sale
$179,900
3326 W TANGERINE Lane W, Phoenix, AZ 85051
Corner-unit condo with remodeled interiors, private patios, covered parking, and separate storage.
Property Size754 SF
Days on Market174
Property Features for 3326 W TANGERINE Lane W
General Information
Standard status
Active
Size
754 SF
Total Parking Spaces
2
Property subtype
Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$308
Amenities
private patios
security gates
laundry room
storage room
Building Details
Building Size
754 SF
Year Built
1974
Listing Agency:
Highland Real Estate
(602) 809-4378
Listed By:
Rhea Kowitz
(602) 809-4378
Source:
Alexiabertsatos
Added: Mar 1
Changed: Aug 17
Last Checked: Aug 21 at 10:07AM
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 Highland Real Estate
Investment Insights
Based on property information with market context.
This 1-bedroom, 1-bath condominium is positioned as a private corner unit within a residential income property. The interior features an open layout, tile flooring, large windows, remodeled kitchen cabinetry, granite countertops, stainless steel appliances, and an updated bathroom with a tiled surround, new fixtures, and a vanity. Two patios provide additional private outdoor space, including a large front paver patio and a covered rear patio.
The rear patio connects to an oversized laundry room with storage. The property also includes a large detached storage room and a two-car carport. Security gates protect all doors and windows. Built in 1974, the condominium is located at 3326 W TANGERINE Lane W in Phoenix, Arizona 85051.
The rear patio connects to an oversized laundry room with storage. The property also includes a large detached storage room and a two-car carport. Security gates protect all doors and windows. Built in 1974, the condominium is located at 3326 W TANGERINE Lane W in Phoenix, Arizona 85051.
Key Highlights
- 1‑bedroom, 1‑bath corner‑unit condominium
- Remodeled kitchen with granite countertops and stainless steel appliances
- Updated bathroom with tiled surround, new fixtures, and vanity
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
$8,794
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
4.89%
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%
$175,880
$175.9K
Cap Rate 7%
$125,629
$125.6K
Cap Rate 9%
$97,711
$97.7K
Market Conditions
NOI Build-Up for 754 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
$17.0K $22.56/SF
− Vacancy
−$1.0K −$1.35/SF
EGI
$16.0K $21.21/SF
− OpEx
−$7.2K −$9.54/SF
NOI
$8.8K $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%
$175,880
Cap Rate 7%
$125,629
Cap Rate 9%
$97,711
Alternative Uses
Best Use
Apartment 5plus
$125.6K
$109.9K – $146.6K
NOI $8,794 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$228.4K
$199.9K – $266.5K
NOI $15,988 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 85051, AZ
46,123
Population
16,818
Households
2.7
Avg Household Size
34
Median Age
20%
College-Educated
81%
High-School Grad
6.4 sq mi
ZIP Area
7,207
Density / Sq Mi
$63,665
Median Household Income
$38,980
Median Earnings
$1,256
Median Rent
$288,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Corner-unit condo with remodeled interiors, private patios, covered parking, and separate storage.
Where is this residential income property located?
The property is located at 3326 W TANGERINE Lane W Phoenix, AZ.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 1‑bedroom, 1‑bath corner‑unit condominium; Remodeled kitchen with granite countertops and stainless steel appliances; Updated bathroom with tiled surround, new fixtures, and vanity
