Two-Bedroom Condominium with
4211 E PALM Lane 208, Phoenix, AZ 85008
For Sale
$191,500
Updated residence combines an open layout with a covered balcony and gated community amenities.
Property Size893 SF
Price / SF$214.45
Days on Market33
Property Features for 4211 E PALM Lane 208
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
gated community
community pool
common area with greenscape
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Daniel Schaffler · License #BR647934000
(480) 340-6246
Source:
1912realty
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 8 at 2:21PM
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 Compass
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Investment Insights
Based on property information with market context.
This 893-square-foot condominium, built in 1985, has two bedrooms and two full bathrooms, each with a shower-tub combination. An open floor plan connects the living areas, with vinyl plank flooring throughout and carpet in both bedrooms. The kitchen includes granite countertops, black appliances, a pantry, and a stacked washer and dryer. Additional features include a private covered balcony with a storage closet and a new water heater.
The gated community offers a pool, landscaped common areas, and mature trees. The property is in Phoenix, with access to Downtown Phoenix, Old Town Scottsdale, Sky Harbor Airport, Loop 202, and ASU.
The gated community offers a pool, landscaped common areas, and mature trees. The property is in Phoenix, with access to Downtown Phoenix, Old Town Scottsdale, Sky Harbor Airport, Loop 202, and ASU.
Key Highlights
- 893‑square‑foot unit with two bedrooms and two full bathrooms
- Gated condominium community with a pool and landscaped shared grounds
- Granite kitchen countertops, pantry, and black appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,368
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,360
$187.4K
Cap Rate 7%
$133,829
$133.8K
Cap Rate 9%
$104,089
$104.1K
Market Conditions
NOI Build-Up for 893 SF
Gross rent
$18.2K $20.40/SF
− Vacancy
−$1.2K −$1.33/SF
EGI
$17.0K $19.07/SF
− OpEx
−$7.7K −$8.58/SF
NOI
$9.4K $10.49/SF
Area
ZIP 85008
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,360
Cap Rate 7%
$133,829
Cap Rate 9%
$104,089
Alternative Uses
Best Use
Apartment 5plus
$133.8K
$117.1K – $156.1K
NOI $9,368 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$276.0K
$241.5K – $322.0K
NOI $19,318 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
730
Businesses Nearby
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Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
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Market
Properties on Market for Residential income properties in Phoenix
Frequently Asked Questions
What type of property is this?
Residential income property - Updated residence combines an open layout with a covered balcony and gated community amenities.
Where is this residential income property located?
The property is located at 4211 E PALM Lane 208 Phoenix, AZ.
What is the asking price?
The asking price for this property is $191,500.
What are key features of this property?
This property features: 893‑square‑foot unit with two bedrooms and two full bathrooms; Gated condominium community with a pool and landscaped shared grounds; Granite kitchen countertops, pantry, and black appliances
