Two-Bedroom Residential Income
New
For Sale
$200,000
461 W HOLMES Avenue 356, Mesa, AZ 85210
The upper-level residence includes a private balcony and access to a community pool.
Property Size894 SF
Days on Market7
Property Features for 461 W HOLMES Avenue 356
General Information
Standard status
Active
Size
894 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$882
Amenities
pool
Building Details
Building Size
894 SF
Year Built
1983
Listing Agency:
Keller Williams Realty Phoenix
Listed By:
Ryan Melville · License #SA584392000
(480) 447-0937
Source:
Gillettegroupaz
Added: Oct 12
Changed: Oct 17
Last Checked: Oct 17 at 2:19AM
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 Keller Williams Realty Phoenix
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Investment Insights
Based on property information with market context.
This upper-level, two-bedroom residence features vaulted ceilings and sliding glass doors opening to a balcony. The eat-in kitchen is fitted with stainless steel appliances, granite counters, and white cabinetry. The primary bedroom has a walk-in closet and a private bathroom with an enclosed glass shower.
Built in 1983, the property is part of Circle Tree Community, which includes a pool.
Built in 1983, the property is part of Circle Tree Community, which includes a pool.
Key Highlights
- Two‑bedroom upper‑level residence
- Built in 1983
- Private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,991
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$139,820
$139.8K
Cap Rate 7%
$99,871
$99.9K
Cap Rate 9%
$77,678
$77.7K
Market Conditions
NOI Build-Up for 894 SF
Gross rent
$13.6K $15.24/SF
− Vacancy
−$913 −$1.02/SF
EGI
$12.7K $14.22/SF
− OpEx
−$5.7K −$6.40/SF
NOI
$7.0K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$139,820
Cap Rate 7%
$99,871
Cap Rate 9%
$77,678
Alternative Uses
Best Use
Apartment 5plus
$99.9K
$87.4K – $116.5K
NOI $6,991 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.1K
$214.4K – $285.9K
NOI $17,154 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 85210, AZ
40,351
Population
16,292
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
84%
High-School Grad
6.7 sq mi
ZIP Area
6,023
Density / Sq Mi
$59,680
Median Household Income
$38,479
Median Earnings
$1,383
Median Rent
$301,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The upper-level residence includes a private balcony and access to a community pool.
Where is this residential income property located?
The property is located at 461 W HOLMES Avenue 356 Mesa, AZ.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑bedroom upper‑level residence; Built in 1983; Private balcony
