Updated Residential Income
For Sale
$255,000
5401 E VAN BUREN Street 3077, Phoenix, AZ 85008
Two-bedroom residence with refreshed finishes and access to extensive community amenities.
Property Size1,042 SF
Price / SF$244.72
Days on Market113
Property Features for 5401 E VAN BUREN Street 3077
General Information
Standard status
Active
Size
1,042 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,270
Amenities
pool
spa
cabanas
lagoon
fountain
fitness center
media room
putting green
BBQ areas
Building Details
Building Size
1,042 SF
Year Built
1999
Listing Agency:
Arizona Golf & Sun Properties
Listed By:
Sherri L Plotke
(602) 691-6239
Source:
Alexiabertsatos
Added: May 28
Changed: Sep 13
Last Checked: Sep 17 at 3:51AM
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 Arizona Golf & Sun Properties
Investment Insights
Based on property information with market context.
This 2BR/2BA residential income property offers 1,042 SF with an open layout, abundant natural light, and walk-in closets in both bedrooms. Recent interior improvements include fresh paint, wood-look LVP flooring, and new carpet, while the kitchen and bathrooms feature granite countertops and backsplash finishes.
Red Rox provides two pools, a spa, cabanas, a lagoon, a fountain, a fitness center, a media room, a putting green, and BBQ areas. The property is near Arcadia, Arizona State University, Sky Harbor, Papago Park, the Phoenix Zoo, the Desert Botanical Garden, Downtown Phoenix, Old Town Scottsdale, light rail, Tempe Town Lake, Mill Avenue, and Loop 202. Rental restrictions do not apply. Built in 1999, the residence also includes free golf for two at Papago Golf Club.
Red Rox provides two pools, a spa, cabanas, a lagoon, a fountain, a fitness center, a media room, a putting green, and BBQ areas. The property is near Arcadia, Arizona State University, Sky Harbor, Papago Park, the Phoenix Zoo, the Desert Botanical Garden, Downtown Phoenix, Old Town Scottsdale, light rail, Tempe Town Lake, Mill Avenue, and Loop 202. Rental restrictions do not apply. Built in 1999, the residence also includes free golf for two at Papago Golf Club.
Key Highlights
- 1,042 SF open 2BR/2BA residence
- Recent paint, wood‑look LVP flooring, and new carpet
- Granite countertops and backsplash finishes in kitchen and baths
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
$10,931
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
4.29%
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%
$218,620
$218.6K
Cap Rate 7%
$156,157
$156.2K
Cap Rate 9%
$121,456
$121.5K
Market Conditions
NOI Build-Up for 1,042 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
$21.3K $20.40/SF
− Vacancy
−$1.4K −$1.33/SF
EGI
$19.9K $19.07/SF
− OpEx
−$8.9K −$8.58/SF
NOI
$10.9K $10.49/SF
Area
ZIP 85008
Vacancy
6.50%
Lease Rate
$20.40 /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%
$218,620
Cap Rate 7%
$156,157
Cap Rate 9%
$121,456
Alternative Uses
Best Use
Apartment 5plus
$156.2K
$136.6K – $182.2K
NOI $10,931 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.0K
$281.8K – $375.7K
NOI $22,542 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 85008, AZ
59,047
Population
24,508
Households
2.4
Avg Household Size
30
Median Age
24%
College-Educated
75%
High-School Grad
10.2 sq mi
ZIP Area
5,789
Density / Sq Mi
$61,369
Median Household Income
$36,969
Median Earnings
$1,300
Median Rent
$323,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with refreshed finishes and access to extensive community amenities.
Where is this residential income property located?
The property is located at 5401 E VAN BUREN Street 3077 Phoenix, AZ.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,042 SF open 2BR/2BA residence; Recent paint, wood‑look LVP flooring, and new carpet; Granite countertops and backsplash finishes in kitchen and baths
