Top-Floor Residential Income
For Sale
$350,000
4303 E CACTUS Road 419, Phoenix, AZ 85032
Renovated condominium with updated kitchen and bathroom finishes in a landscaped community with extensive shared amenities.
Property Size1,256 SF
Days on Market236
Property Features for 4303 E CACTUS Road 419
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,437
Amenities
pool
spa
activity room
walking path
Building Details
Building Size
1,256 SF
Year Built
1983
Listing Agency:
HomeSmart
Listed By:
Patricia Corbin
(602) 538-7226
Source:
Alexiabertsatos
Added: Jan 20
Changed: Sep 3
Last Checked: Sep 12 at 9:31AM
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 HomeSmart
Investment Insights
Based on property information with market context.
This renovated condominium is located on the top floor of the Anasazi Village Condos, providing a private setting without an upstairs neighbor. Interior improvements include a designer kitchen and bathroom with modern finishes and additional updates throughout. The property was built in 1983.
Community amenities include 5 swimming pools, 5 spas, multiple activity rooms, and walking paths through the landscaped grounds. The condominium is located at 4303 E Cactus Road 410 in Phoenix, Arizona.
Community amenities include 5 swimming pools, 5 spas, multiple activity rooms, and walking paths through the landscaped grounds. The condominium is located at 4303 E Cactus Road 410 in Phoenix, Arizona.
Key Highlights
- Top‑floor condominium with no upstairs neighbor
- Renovated kitchen and bathroom with modern finishes
- 5 swimming pools and 5 spas within the community
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
$12,748
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
3.64%
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%
$254,960
$255.0K
Cap Rate 7%
$182,114
$182.1K
Cap Rate 9%
$141,644
$141.6K
Market Conditions
NOI Build-Up for 1,256 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
$24.9K $19.80/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$23.2K $18.45/SF
− OpEx
−$10.4K −$8.30/SF
NOI
$12.7K $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%
$254,960
Cap Rate 7%
$182,114
Cap Rate 9%
$141,644
Alternative Uses
Best Use
Apartment 5plus
$182.1K
$159.4K – $212.5K
NOI $12,748 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.7K
$332.2K – $442.9K
NOI $26,576 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Renovated condominium with updated kitchen and bathroom finishes in a landscaped community with extensive shared amenities.
Where is this residential income property located?
The property is located at 4303 E CACTUS Road 419 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: Top‑floor condominium with no upstairs neighbor; Renovated kitchen and bathroom with modern finishes; 5 swimming pools and 5 spas within the community
