Two-Bedroom
New
For Sale
$350,000
3637 E MONTEROSA Street 17, Phoenix, AZ 85018
Updated finishes, newer mechanical equipment, and a single-level layout shape this two-bedroom, two-bath home.
Property Size1,256 SF
Price / SF$278.66
Days on Market5
Property Features for 3637 E MONTEROSA Street 17
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,135
Building Details
Building Size
1,256 SF
Year Built
1970
Listing Agency:
SERHANT.
Listed By:
Stephanie Bray
(602) 989-6057
Source:
Alexiabertsatos
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 10:54PM
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 SERHANT.
Investment Insights
Based on property information with market context.
This single-level condominium contains 1,256 square feet, with two bedrooms and two bathrooms. Interior features include wood-look porcelain tile, granite countertops, stainless steel appliances, and refreshed bathroom vanities. The air-conditioning system and water heater are newer. The property was built in 1970.
The home is in Phoenix’s Arcadia Lite area, near restaurants, coffee shops, bars, parks, and the canal. The Biltmore, Old Town Scottsdale, Uptown Phoenix, and Sky Harbor Airport are also described as nearby destinations.
The home is in Phoenix’s Arcadia Lite area, near restaurants, coffee shops, bars, parks, and the canal. The Biltmore, Old Town Scottsdale, Uptown Phoenix, and Sky Harbor Airport are also described as nearby destinations.
Key Highlights
- 1,256‑square‑foot, single‑level condominium
- Two bedrooms and two bathrooms
- Wood‑look porcelain tile, granite countertops, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,649
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,980
$293.0K
Cap Rate 7%
$209,271
$209.3K
Cap Rate 9%
$162,767
$162.8K
Market Conditions
NOI Build-Up for 1,256 SF
Gross rent
$28.3K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$26.6K $21.21/SF
− OpEx
−$12.0K −$9.54/SF
NOI
$14.6K $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 Rate 5%
$292,980
Cap Rate 7%
$209,271
Cap Rate 9%
$162,767
Alternative Uses
Best Use
Apartment 5plus
$209.3K
$183.1K – $244.2K
NOI $14,649 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.5K
$332.9K – $443.9K
NOI $26,632 @ 7.0% cap · market cap 7.61%
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
1,034
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 - Updated finishes, newer mechanical equipment, and a single-level layout shape this two-bedroom, two-bath home.
Where is this residential income property located?
The property is located at 3637 E MONTEROSA Street 17 Phoenix, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,256‑square‑foot, single‑level condominium; Two bedrooms and two bathrooms; Wood‑look porcelain tile, granite countertops, and stainless steel appliances
