Residential Income Property with
For Sale
$185,000
Pending
520 N STAPLEY Drive 292, Mesa, AZ 85203
The residence has two bedrooms, two full baths, an assigned covered carport, and shared recreation amenities.
Property Size879 SF
Days on Market84
Property Features for 520 N STAPLEY Drive 292
General Information
Standard status
Pending
Size
879 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$368
Amenities
washer/dryer
private balcony
storage closet
pool
spa
clubhouse
BBQ area
mature shade trees
Building Details
Building Size
879 SF
Year Built
1983
Listing Agency:
My Home Group Real Estate
Listed By:
Elizabeth Mankin
(602) 882-2797
Source:
Inspiredrealestatelife
Added: Aug 11
Changed: Nov 2
Last Checked: Oct 30 at 12:56AM
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 My Home Group Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 879-square-foot residence, built in 1983, has a great-room layout with an open kitchen and living area. The kitchen includes stainless steel appliances, ample cabinetry, and a refrigerator. The primary bedroom has a vaulted ceiling, two closets, and a private full bath; a second bedroom is served by a separate full bath. Flooring has been upgraded in the main living areas, and a washer and dryer are included. A private balcony and large storage closet add usable space, while an assigned covered carport provides parking.
Community features include a pool, spa, clubhouse, barbecue area, and mature shade trees. Shopping, dining, parks, and freeway access are nearby.
Community features include a pool, spa, clubhouse, barbecue area, and mature shade trees. Shopping, dining, parks, and freeway access are nearby.
Key Highlights
- 879‑square‑foot residence built in 1983
- Two bedrooms and two full baths
- Private balcony with a large storage closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,874
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
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
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 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 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$240.9K
$210.8K – $281.1K
NOI $16,866 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
Frequently Asked Questions
What type of property is this?
Residential income property - The residence has two bedrooms, two full baths, an assigned covered carport, and shared recreation amenities.
Where is this residential income property located?
The property is located at 520 N STAPLEY Drive 292 Mesa, AZ.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 879‑square‑foot residence built in 1983; Two bedrooms and two full baths; Private balcony with a large storage closet
