Two-Bedroom Cooperative
For Sale
$150,000
500 W CLARENDON Avenue D6, Phoenix, AZ 85013
Two-bedroom, two-bath residence in a cooperative-owned community with shared amenities and mature landscaping.
Property Size1,111 SF
Days on Market93
Property Features for 500 W CLARENDON Avenue D6
General Information
Standard status
Active
Size
1,111 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$24,035
Amenities
community clubhouse
pool
community gardens
Building Details
Building Size
1,111 SF
Year Built
1962
Construction
mid-century modern
Listing Agency:
Compass
(602) 317-4123
Listed By:
Cathy Fassero · License #BR539511000
(602) 317-4123
Source:
Alexiabertsatos
Added: May 29
Changed: Aug 23
Last Checked: Aug 28 at 4:28PM
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 two-bedroom, two-bath residence is part of a cooperative-owned, mid-century modern community constructed in 1962. The property includes access to shared community features such as a clubhouse, swimming pool, landscaped common areas, and community gardens.
The residence is in central Phoenix, with Downtown Phoenix, museums, dining, entertainment venues, and Phoenix Sky Harbor International Airport located just minutes away. The setting combines a residential community environment with convenient access to the city’s cultural, dining, and transportation destinations.
The residence is in central Phoenix, with Downtown Phoenix, museums, dining, entertainment venues, and Phoenix Sky Harbor International Airport located just minutes away. The setting combines a residential community environment with convenient access to the city’s cultural, dining, and transportation destinations.
Key Highlights
- Two‑bedroom, two‑bath residence
- Cooperative‑owned mid‑century modern community
- Built in 1962
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
$12,958
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
8.64%
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%
$259,160
$259.2K
Cap Rate 7%
$185,114
$185.1K
Cap Rate 9%
$143,978
$144.0K
Market Conditions
NOI Build-Up for 1,111 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
$25.1K $22.56/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$23.6K $21.21/SF
− OpEx
−$10.6K −$9.54/SF
NOI
$13.0K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /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%
$259,160
Cap Rate 7%
$185,114
Cap Rate 9%
$143,978
Alternative Uses
Best Use
Apartment 5plus
$185.1K
$162.0K – $216.0K
NOI $12,958 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.5K
$294.5K – $392.6K
NOI $23,557 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,318
Businesses Nearby
Explore this area
Business Placement
Demographics for 85013, AZ
21,970
Population
11,618
Households
1.9
Avg Household Size
38
Median Age
47%
College-Educated
90%
High-School Grad
3.7 sq mi
ZIP Area
5,938
Density / Sq Mi
$68,895
Median Household Income
$53,067
Median Earnings
$1,435
Median Rent
$476,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath residence in a cooperative-owned community with shared amenities and mature landscaping.
Where is this residential income property located?
The property is located at 500 W CLARENDON Avenue D6 Phoenix, AZ.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence; Cooperative‑owned mid‑century modern community; Built in 1962
