Furnished Short-Term Rental
For Sale
$399,000
5450 E DEER VALLEY Drive 2189, Phoenix, AZ 85054
Furnished condominium with short-term rental allowance, resort amenities, and access to pools, fitness centers, and private clubhouses.
Property Size1,246 SF
Days on Market66
Property Features for 5450 E DEER VALLEY Drive 2189
General Information
Standard status
Active
Size
1,246 SF
Property subtype
Apartment
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,122
Amenities
three resort-style heated pools
two state-of-the-art fitness centers
three private clubhouses
24/7 guard-gated community
Building Details
Building Size
1,246 SF
Year Built
2014
Listing Agency:
Apex Residential
(480) 280-1087
Listed By:
Hayley Jamison
(480) 280-1087
Source:
Jcluxuryresidential
Added: Jun 18
Changed: Aug 16
Last Checked: Aug 22 at 11:37AM
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 Apex Residential
Investment Insights
Based on property information with market context.
This 2014 condominium offers two bedrooms and two bathrooms within Toscana of Desert Ridge, a 24/7 guard-gated community. The open living area connects to a kitchen equipped with quartz countertops, stainless steel appliances, and a built-in wine refrigerator. The primary suite includes an en-suite bathroom and private water closet. Furniture is included or available for negotiation, and the residence carries a short-term rental allowance.
Community amenities include three heated pools, two fitness centers, three private clubhouses, and dedicated resort staff. High Street, Desert Ridge Marketplace, and the JW Marriott Desert Ridge Resort & Spa are within walking distance. Two championship golf courses and the Mayo Clinic are also nearby, with Wildfire Golf Club identified as a Nick Faldo-designed course.
Community amenities include three heated pools, two fitness centers, three private clubhouses, and dedicated resort staff. High Street, Desert Ridge Marketplace, and the JW Marriott Desert Ridge Resort & Spa are within walking distance. Two championship golf courses and the Mayo Clinic are also nearby, with Wildfire Golf Club identified as a Nick Faldo-designed course.
Key Highlights
- Short‑term rental allowance in Toscana of Desert Ridge
- Two‑bedroom, two‑bathroom condominium built in 2014
- Furnished residence; furniture included or available for negotiation
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
$14,533
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
3.64%
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%
$290,660
$290.7K
Cap Rate 7%
$207,614
$207.6K
Cap Rate 9%
$161,478
$161.5K
Market Conditions
NOI Build-Up for 1,246 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
$28.1K $22.56/SF
− Vacancy
−$1.7K −$1.35/SF
EGI
$26.4K $21.21/SF
− OpEx
−$11.9K −$9.54/SF
NOI
$14.5K $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%
$290,660
Cap Rate 7%
$207,614
Cap Rate 9%
$161,478
Alternative Uses
Best Use
Apartment 5plus
$207.6K
$181.7K – $242.2K
NOI $14,533 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.4K
$330.3K – $440.3K
NOI $26,420 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 85054, AZ
8,849
Population
6,271
Households
1.4
Avg Household Size
39
Median Age
61%
College-Educated
98%
High-School Grad
8.6 sq mi
ZIP Area
1,029
Density / Sq Mi
$89,099
Median Household Income
$64,554
Median Earnings
$2,146
Median Rent
$618,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Furnished condominium with short-term rental allowance, resort amenities, and access to pools, fitness centers, and private clubhouses.
Where is this short term rental property located?
The property is located at 5450 E DEER VALLEY Drive 2189 Phoenix, AZ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Short‑term rental allowance in Toscana of Desert Ridge; Two‑bedroom, two‑bathroom condominium built in 2014; Furnished residence; furniture included or available for negotiation
