Residential Income Property with
For Sale
$209,000
520 N STAPLEY Drive 205, Mesa, AZ 85203
Bright residential unit with updated appliances, two bedrooms, two full baths, covered parking, and access to extensive community amenities.
Property Size879 SF
Days on Market44
Property Features for 520 N STAPLEY Drive 205
General Information
Standard status
Active
Size
879 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$437
Amenities
private balcony
storage closet
pool
spa
clubhouse
BBQ area
mature shade trees
washer and dryer
Building Details
Building Size
879 SF
Year Built
1983
Listing Agency:
RE/MAX Fine Properties
Listed By:
Matthew McKenney · License #BR043622000
(480) 233-4921
Source:
Gillettegroupaz
Added: Jul 22
Changed: Aug 31
Last Checked: Sep 2 at 1:11AM
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 RE/MAX Fine Properties
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath unit with an open great-room arrangement and upgraded flooring across the primary living spaces. The kitchen provides substantial cabinet storage, updated stainless steel appliances, and an included refrigerator. The primary suite has a vaulted ceiling, dual closets, and its own full bath, while the second bedroom is positioned beside the guest bathroom. A washer and dryer are also included.
Outdoor features include a private balcony, dedicated storage closet, and assigned covered carport. Community amenities include a pool and spa, clubhouse, BBQ area, and mature shade trees. The property was built in 1983 and is located near shopping, dining, parks, and freeway access.
Outdoor features include a private balcony, dedicated storage closet, and assigned covered carport. Community amenities include a pool and spa, clubhouse, BBQ area, and mature shade trees. The property was built in 1983 and is located near shopping, dining, parks, and freeway access.
Key Highlights
- Two‑bedroom, two‑bath residential income property
- Updated stainless steel kitchen appliances with refrigerator included
- Primary suite includes vaulted ceiling, dual closets, and private full bath
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
$6,874
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
3.29%
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%
$137,480
$137.5K
Cap Rate 7%
$98,200
$98.2K
Cap Rate 9%
$76,378
$76.4K
Market Conditions
NOI Build-Up for 879 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
$13.4K $15.24/SF
− Vacancy
−$898 −$1.02/SF
EGI
$12.5K $14.22/SF
− OpEx
−$5.6K −$6.40/SF
NOI
$6.9K $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 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%
$137,480
Cap Rate 7%
$98,200
Cap Rate 9%
$76,378
Alternative Uses
Best Use
Apartment 5plus
$98.2K
$85.9K – $114.6K
NOI $6,874 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.9K
$210.8K – $281.1K
NOI $16,866 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 85203, AZ
37,962
Population
14,020
Households
2.7
Avg Household Size
33
Median Age
29%
College-Educated
91%
High-School Grad
9.3 sq mi
ZIP Area
4,082
Density / Sq Mi
$72,851
Median Household Income
$40,524
Median Earnings
$1,388
Median Rent
$388,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright residential unit with updated appliances, two bedrooms, two full baths, covered parking, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 520 N STAPLEY Drive 205 Mesa, AZ.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residential income property; Updated stainless steel kitchen appliances with refrigerator included; Primary suite includes vaulted ceiling, dual closets, and private full bath
