Ground-Floor Residential Income
New
For Sale
$194,500
3845 E Greenway Rd #111, Phoenix, AZ 85032
A one-bedroom, one-bath layout includes in-unit laundry and a private patio.
Property Size691 SF
Price / SF$281.48
Days on Market4
Property Features for 3845 E Greenway Rd #111
General Information
Standard status
Active
Size
691 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Paradise Valley
Highway Access
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
HOA Fee
$198
Amenities
assigned covered parking
private patio
in-unit laundry
pool
heated spa
Building Details
Year Built
1988
Listing Agency:
Berkshire Hathaway Homeservices Arizona Properties
(480) 505-6300
Listed By:
arrt of Real Estate / Amelia Goudeau
(602) 460-5545
Source:
Arrtofrealestate
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 8:12AM
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 Berkshire Hathaway Homeservices Arizona Properties
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 691-square-foot ground-floor residence has one bedroom, one bathroom, and an open layout. The unit includes a private patio, assigned covered parking, and in-unit laundry with a washer and dryer. Residents also have access to a community pool and heated spa.
The property is on E Greenway Road in Phoenix. Nearby destinations listed include Whole Foods, Life Time, Kierland Commons, and Costco, with access to SR-51 and Loop 101 also noted. The residence was built in 1988.
The property is on E Greenway Road in Phoenix. Nearby destinations listed include Whole Foods, Life Time, Kierland Commons, and Costco, with access to SR-51 and Loop 101 also noted. The residence was built in 1988.
Key Highlights
- 691‑square‑foot residence with one bedroom and one bathroom
- Ground‑floor unit with an open layout
- Private patio and assigned covered parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,013
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$140,260
$140.3K
Cap Rate 7%
$100,186
$100.2K
Cap Rate 9%
$77,922
$77.9K
Market Conditions
NOI Build-Up for 691 SF
Gross rent
$13.7K $19.80/SF
− Vacancy
−$930 −$1.35/SF
EGI
$12.8K $18.45/SF
− OpEx
−$5.7K −$8.30/SF
NOI
$7.0K $10.15/SF
Area
ZIP 85032
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$140,260
Cap Rate 7%
$100,186
Cap Rate 9%
$77,922
Alternative Uses
Best Use
Apartment 5plus
$100.2K
$87.7K – $116.9K
NOI $7,013 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$208.9K
$182.8K – $243.7K
NOI $14,621 @ 7.0% cap · market cap 7.52%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 85032, AZ
68,710
Population
30,386
Households
2.3
Avg Household Size
38
Median Age
34%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
5,541
Density / Sq Mi
$74,331
Median Household Income
$44,790
Median Earnings
$1,492
Median Rent
$387,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom, one-bath layout includes in-unit laundry and a private patio.
Where is this residential income property located?
The property is located at 3845 E Greenway Rd #111 Phoenix, AZ.
What is the asking price?
The asking price for this property is $194,500.
What are key features of this property?
This property features: 691‑square‑foot residence with one bedroom and one bathroom; Ground‑floor unit with an open layout; Private patio and assigned covered parking
