Furnished Remodeled Residential Income
For Sale
$199,995
3619 E MONTEROSA Street 209, Phoenix, AZ 85018
Furnished residential property with updated interiors, in-unit laundry, and access to a gated community pool.
Property Size622 SF
Days on Market42
Property Features for 3619 E MONTEROSA Street 209
General Information
Standard status
Active
Size
622 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,148
Amenities
pool
gated complex
Building Details
Building Size
622 SF
Year Built
1979
Listing Agency:
Gentry Real Estate
Listed By:
Jonah Reinholz · License #SA691597000
(480) 734-0333
Source:
Alexiabertsatos
Added: Jul 24
Changed: Aug 26
Last Checked: Sep 2 at 12:56AM
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 Gentry Real Estate
Investment Insights
Based on property information with market context.
This furnished residential income property is a remodeled condominium in a gated complex in Phoenix’s Arcadia area. The interior includes a renovated kitchen with stainless steel appliances, granite countertops, and contemporary light fixtures, along with a spacious bedroom and bathroom. A new in-unit washer and dryer add everyday convenience.
Community amenities include a pool within the gated property. The building was constructed in 1979, and the property is located at 3619 E Monterosa Street, Unit 209, Phoenix, AZ 85018. The residence is offered with its furnishings in place, providing a completed interior setup for the next owner or occupant.
Community amenities include a pool within the gated property. The building was constructed in 1979, and the property is located at 3619 E Monterosa Street, Unit 209, Phoenix, AZ 85018. The residence is offered with its furnishings in place, providing a completed interior setup for the next owner or occupant.
Key Highlights
- Furnished remodeled condominium in Arcadia
- Updated kitchen with stainless appliances and granite countertops
- New in‑unit washer and dryer
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
$7,255
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
3.63%
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%
$145,100
$145.1K
Cap Rate 7%
$103,643
$103.6K
Cap Rate 9%
$80,611
$80.6K
Market Conditions
NOI Build-Up for 622 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
$14.0K $22.56/SF
− Vacancy
−$842 −$1.35/SF
EGI
$13.2K $21.21/SF
− OpEx
−$5.9K −$9.54/SF
NOI
$7.3K $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%
$145,100
Cap Rate 7%
$103,643
Cap Rate 9%
$80,611
Alternative Uses
Best Use
Apartment 5plus
$103.6K
$90.7K – $120.9K
NOI $7,255 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$188.4K
$164.9K – $219.8K
NOI $13,189 @ 7.0% cap · market cap 6.59%
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
1,034
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 - Furnished residential property with updated interiors, in-unit laundry, and access to a gated community pool.
Where is this residential income property located?
The property is located at 3619 E MONTEROSA Street 209 Phoenix, AZ.
What is the asking price?
The asking price for this property is $199,995.
What are key features of this property?
This property features: Furnished remodeled condominium in Arcadia; Updated kitchen with stainless appliances and granite countertops; New in‑unit washer and dryer
