Updated Residential Income
For Sale
$347,000
5303 N 7TH Street 220, Phoenix, AZ 85014
Three-bedroom, two-bath condominium with extensive interior improvements and access to shared recreational amenities.
Property Size1,217 SF
Days on Market138
Property Features for 5303 N 7TH Street 220
General Information
Standard status
Active
Size
1,217 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$1,404
Building Details
Building Size
1,217 SF
Year Built
1997
Listing Agency:
Real Broker
(602) 369-0229
Listed By:
Tracy van Ravensway · License #BR525948000
(602) 369-0229
Source:
Alexiabertsatos
Added: Apr 6
Changed: Aug 21
Last Checked: Aug 21 at 12:01PM
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 residential income property is a three-bedroom, two-bath condominium with a broad set of recent interior improvements. The unit has fresh paint and new carpet, while the kitchen includes professionally painted cabinetry, new appliances, a new faucet, a disposal, and a filtered drinking water system. Additional updates include a new washer and dryer, new water heater, updated light fixtures, and replacement screens for the windows and sliding door.
Built in 1997, the condominium community provides a pool, spa, fitness facility, and meeting room. The property is located in central Phoenix at 5303 N 7TH Street.
Built in 1997, the condominium community provides a pool, spa, fitness facility, and meeting room. The property is located in central Phoenix at 5303 N 7TH Street.
Key Highlights
- Three‑bedroom, two‑bath condominium
- Fresh paint and new carpet throughout
- Kitchen updated with painted cabinets, new appliances, faucet, disposal, and filtered water system
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
$14,195
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
4.09%
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%
$283,900
$283.9K
Cap Rate 7%
$202,786
$202.8K
Cap Rate 9%
$157,722
$157.7K
Market Conditions
NOI Build-Up for 1,217 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
$27.5K $22.56/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$25.8K $21.21/SF
− OpEx
−$11.6K −$9.54/SF
NOI
$14.2K $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%
$283,900
Cap Rate 7%
$202,786
Cap Rate 9%
$157,722
Alternative Uses
Best Use
Apartment 5plus
$202.8K
$177.4K – $236.6K
NOI $14,195 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.6K
$322.6K – $430.1K
NOI $25,805 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom, two-bath condominium with extensive interior improvements and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 5303 N 7TH Street 220 Phoenix, AZ.
What is the asking price?
The asking price for this property is $347,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condominium; Fresh paint and new carpet throughout; Kitchen updated with painted cabinets, new appliances, faucet, disposal, and filtered water system
