Tenant-Occupied Income
For Sale
$214,900
4554 E PARADISE VILLAGE Parkway N 263, Phoenix, AZ 85032
Lease remains in place through August 2028, supporting continued occupancy for an income property owner.
Property Size685 SF
Days on Market13
Property Features for 4554 E PARADISE VILLAGE Parkway N 263
General Information
Standard status
Active
Size
685 SF
Property subtype
Apartment
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$740
Building Details
Building Size
685 SF
Year Built
1980
Tenancy
Single
Listing Agency:
Real Broker
Listed By:
Temple Blackburn · License #SA109435000
(602) 410-1313
Source:
Alexiabertsatos
Added: Sep 5
Changed: Sep 15
Last Checked: Sep 17 at 3:56AM
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 Real Broker
Investment Insights
Based on property information with market context.
This condominium, built in 1980, is configured for residential income ownership and currently has a tenant in place. The residence has vinyl plank flooring throughout with no carpet, along with a covered patio positioned on the east side of the property. These features support a straightforward, low-maintenance residential setup.
The property is located at 4554 E Paradise Village Parkway N in Phoenix and offers access to nearby amenities associated with the Paradise Valley renovation. Freeway access is also available. The existing tenant has occupied the home for more than 2 years and holds a lease through August 2028, with the possibility of remaining beyond the current term or relocating if the property is purchased for personal use.
The property is located at 4554 E Paradise Village Parkway N in Phoenix and offers access to nearby amenities associated with the Paradise Valley renovation. Freeway access is also available. The existing tenant has occupied the home for more than 2 years and holds a lease through August 2028, with the possibility of remaining beyond the current term or relocating if the property is purchased for personal use.
Key Highlights
- Tenant has occupied the condo for more than 2 years
- Lease in place until August 2028
- Vinyl plank flooring throughout with no carpet
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
$6,952
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
3.23%
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%
$139,040
$139.0K
Cap Rate 7%
$99,314
$99.3K
Cap Rate 9%
$77,244
$77.2K
Market Conditions
NOI Build-Up for 685 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
$13.6K $19.80/SF
− Vacancy
−$922 −$1.35/SF
EGI
$12.6K $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 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%
$139,040
Cap Rate 7%
$99,314
Cap Rate 9%
$77,244
Alternative Uses
Best Use
Apartment 5plus
$99.3K
$86.9K – $115.9K
NOI $6,952 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$207.1K
$181.2K – $241.6K
NOI $14,494 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,379
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lease remains in place through August 2028, supporting continued occupancy for an income property owner.
Where is this residential income property located?
The property is located at 4554 E PARADISE VILLAGE Parkway N 263 Phoenix, AZ.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Tenant has occupied the condo for more than 2 years; Lease in place until August 2028; Vinyl plank flooring throughout with no carpet
