Two-Bedroom Residential Income
3655 N 5th Ave #106, Phoenix, AZ 85013
For Sale
$280,000
Mid-century condominium with an open layout, private patio, pool access, and HOA-covered utilities.
Property Size1,376 SF
Price / SF$203.49
Days on Market57
Property Features for 3655 N 5th Ave #106
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Amenities
pool
spa
private outdoor patio
Building Details
Year Built
Listing Agency:
Century 21 Flagstaff Realty
(928) 527-3300
Listed By:
Jeremy Jennings · License AZ SA684096000
(623) 986-6650
Source:
Theazliving
Added: Sep 19
Changed: Nov 12
Last Checked: Nov 12 at 7:45AM
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 Century 21 Flagstaff Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mid-century condominium at 3655 N 5th Ave #106 in Phoenix features two bedrooms, an open floor plan, and abundant natural light. The kitchen is equipped with granite countertops, a tile backsplash, and stainless steel appliances. The primary suite includes dual closets and an ensuite bathroom, while shutters add a finished interior detail. A private outdoor patio overlooks the pool area.
Community amenities include a heated pool and spa. The HOA covers electricity, air conditioning, heat, water, trash, and internet, consolidating several ongoing property services under the association. Built in 1962, the residence offers a central Phoenix setting with access to dining, entertainment, and workplaces.
Community amenities include a heated pool and spa. The HOA covers electricity, air conditioning, heat, water, trash, and internet, consolidating several ongoing property services under the association. Built in 1962, the residence offers a central Phoenix setting with access to dining, entertainment, and workplaces.
Key Highlights
- Two‑bedroom condominium with 1,376 property size
- Private patio overlooking the pool area
- Kitchen with granite counters, backsplash, and stainless appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,049
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,980
$321.0K
Cap Rate 7%
$229,271
$229.3K
Cap Rate 9%
$178,322
$178.3K
Market Conditions
NOI Build-Up for 1,376 SF
Gross rent
$31.0K $22.56/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$29.2K $21.21/SF
− OpEx
−$13.1K −$9.54/SF
NOI
$16.0K $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%
$320,980
Cap Rate 7%
$229,271
Cap Rate 9%
$178,322
Alternative Uses
Best Use
Apartment 5plus
$229.3K
$200.6K – $267.5K
NOI $16,049 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,318
Businesses Nearby
Explore this area
Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Residential income properties in Phoenix
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Residential income property - Mid-century condominium with an open layout, private patio, pool access, and HOA-covered utilities.
Where is this residential income property located?
The property is located at 3655 N 5th Ave #106 Phoenix, AZ.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑bedroom condominium with 1,376 property size; Private patio overlooking the pool area; Kitchen with granite counters, backsplash, and stainless appliances
