Renovated Residential Income
For Sale
$250,000
5401 E VAN BUREN Street #2072, Phoenix, AZ 85008
One-bedroom-plus-den unit with a private covered patio and updated systems.
Property Size911 SF
Days on Market349
Property Features for 5401 E VAN BUREN Street #2072
General Information
Standard status
Active
Size
911 SF
Property subtype
Apartment
Units
Unit Mix
1 x 1BR+den
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
pool
spa
misted cabanas
fitness center
clubhouse
BBQ areas
lagoon-style courtyard
Central Air
Electric
Dryer
Washer
Refrigerator
Built-in Microwave
Dishwasher
SRP, Tile
Building Details
Building Size
911 SF
Year Built
1999
Stories
3
Listing Agency:
Realty ONE Group
Listed By:
Realty ONE Group
Source:
Kw
Added: Oct 5, 2025
Changed: Sep 17
Last Checked: Sep 16 at 8:36PM
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 Realty ONE Group
Investment Insights
Based on property information with market context.
This residential income property is a 1-bedroom-plus-den unit in a community built in 1999. Interior improvements include fresh paint and trim, light cabinetry, new appliances, a renovated kitchen, and a new HVAC system and water heater. The residence also includes central air, electric service, a washer, dryer, refrigerator, built-in microwave, and dishwasher. A private covered patio extends the living area outdoors.
Community amenities include a pool, spa, misted cabanas, fitness center, clubhouse, BBQ areas, and a lagoon-style courtyard. The property sits near the Papago Mountains with access to the 202, ASU, Sky Harbor, Tempe, Scottsdale, downtown Phoenix, parks, trails, shopping, and dining.
Community amenities include a pool, spa, misted cabanas, fitness center, clubhouse, BBQ areas, and a lagoon-style courtyard. The property sits near the Papago Mountains with access to the 202, ASU, Sky Harbor, Tempe, Scottsdale, downtown Phoenix, parks, trails, shopping, and dining.
Key Highlights
- 1‑bedroom‑plus‑den residential income property
- Renovated kitchen with light cabinetry and new appliances
- New HVAC system and water heater
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
$9,557
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
3.82%
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%
$191,140
$191.1K
Cap Rate 7%
$136,529
$136.5K
Cap Rate 9%
$106,189
$106.2K
Market Conditions
NOI Build-Up for 911 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
$18.6K $20.40/SF
− Vacancy
−$1.2K −$1.33/SF
EGI
$17.4K $19.07/SF
− OpEx
−$7.8K −$8.58/SF
NOI
$9.6K $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%
$191,140
Cap Rate 7%
$136,529
Cap Rate 9%
$106,189
Alternative Uses
Best Use
Apartment 5plus
$136.5K
$119.5K – $159.3K
NOI $9,557 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.5K
$246.4K – $328.5K
NOI $19,708 @ 7.0% cap · market cap 7.88%
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 - One-bedroom-plus-den unit with a private covered patio and updated systems.
Where is this residential income property located?
The property is located at 5401 E VAN BUREN Street #2072 Phoenix, AZ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1‑bedroom‑plus‑den residential income property; Renovated kitchen with light cabinetry and new appliances; New HVAC system and water heater
