Refreshed Residential Income
For Sale
$224,038
4303 E Cactus Rd #114, Phoenix, AZ 85032
Updated condominium with quartz finishes, assigned covered parking, elevator access, and views toward the clubhouse and pool area.
Property Size850 SF
Price / SF$263.57
Days on Market15
Property Features for 4303 E Cactus Rd #114
General Information
Standard status
Active
Size
850 SF
Elevators
Yes
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Amenities
pool
fitness center
clubhouse
Cactus Garden
pathway
Building Details
Year Built
1983
Listing Agency:
Compass
(480) 776-1555
Listed By:
Tucker and Oleg
(602) 688-2836
Source:
Kennethjamesrealty
Added: Sep 18
Changed: Oct 1
Last Checked: Oct 1 at 10:32AM
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
Investment Insights
Based on property information with market context.
This 850-square-foot condominium, built in 1983, has received extensive interior updates. Improvements include Taj Mahal quartz surfaces, custom cabinetry, wide-plank LVP flooring with acoustic underlayment, new baseboards, fresh paint, contemporary lighting, updated plumbing fixtures, and modern hardware. The residence also offers an outlook toward the clubhouse and pool area.
Community amenities include five pools, a fitness center, clubhouse, and additional recreational facilities. Elevator service supports convenient access, while the Cactus Garden and a pathway along Stone Creek Golf Course provide outdoor walking options. Covered assigned parking is positioned beneath the building entrance. The property is located at 4303 E Cactus Rd #114, Phoenix, AZ 85032.
Community amenities include five pools, a fitness center, clubhouse, and additional recreational facilities. Elevator service supports convenient access, while the Cactus Garden and a pathway along Stone Creek Golf Course provide outdoor walking options. Covered assigned parking is positioned beneath the building entrance. The property is located at 4303 E Cactus Rd #114, Phoenix, AZ 85032.
Key Highlights
- 850‑square‑foot condominium at 4303 E Cactus Rd #114, Phoenix, AZ 85032
- Updated with Taj Mahal quartz, custom cabinetry, LVP flooring, fresh paint, lighting, plumbing fixtures, and hardware
- Outlook toward the clubhouse and pool area
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
$8,627
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
3.85%
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%
$172,540
$172.5K
Cap Rate 7%
$123,243
$123.2K
Cap Rate 9%
$95,856
$95.9K
Market Conditions
NOI Build-Up for 850 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
$16.8K $19.80/SF
− Vacancy
−$1.1K −$1.35/SF
EGI
$15.7K $18.45/SF
− OpEx
−$7.1K −$8.30/SF
NOI
$8.6K $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 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%
$172,540
Cap Rate 7%
$123,243
Cap Rate 9%
$95,856
Alternative Uses
Best Use
Apartment 5plus
$123.2K
$107.8K – $143.8K
NOI $8,627 @ 7.0% cap · market cap 3.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$256.9K
$224.8K – $299.8K
NOI $17,985 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,500
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with quartz finishes, assigned covered parking, elevator access, and views toward the clubhouse and pool area.
Where is this residential income property located?
The property is located at 4303 E Cactus Rd #114 Phoenix, AZ.
What is the asking price?
The asking price for this property is $224,038.
What are key features of this property?
This property features: 850‑square‑foot condominium at 4303 E Cactus Rd #114, Phoenix, AZ 85032; Updated with Taj Mahal quartz, custom cabinetry, LVP flooring, fresh paint, lighting, plumbing fixtures, and hardware; Outlook toward the clubhouse and pool area
