Pool-View Residential Income
For Sale
$449,000
5450 E DEER VALLEY Drive #1180, Phoenix, AZ 85054
Ground-level corner residence with a bonus den and access to fitness, recreation, and meeting amenities.
Property Size1,385 SF
Price / SF$324.19
Days on Market219
Property Features for 5450 E DEER VALLEY Drive #1180
General Information
Standard status
Active
Size
1,385 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
pool
fitness center
yoga room
game and billiards room
community lounge
executive conference room
Security System
Ceiling Fan(s)
Central Air
Electric
Dryer
Washer
Refrigerator
Built-in Microwave
Dishwasher
Disposal
Patio, Porch, APS, Foam
Building Details
Building Size
1,385 SF
Year Built
2014
Stories
4
Listing Agency:
Realty ONE Group
Listed By:
Realty ONE Group
Source:
Kw
Added: Jan 24
Changed: Aug 30
Last Checked: Aug 30 at 10:45PM
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 ground-level corner residence at Toscana offers 1,385 square feet of living space, a bonus den, and a private-facing balcony overlooking one of the community’s three pools. The unit is located in Building 10 and includes central air, ceiling fans, a security system, washer, dryer, refrigerator, built-in microwave, dishwasher, and disposal. The 2014 property also features a patio and porch.
Toscana’s shared amenities include two fitness centers, a yoga room, a game and billiards room, a community lounge, and an executive conference room. Building 10 permits 30-day rental options rather than the six-month minimum applicable elsewhere in the community. The property is located at 5450 E Deer Valley Drive in Phoenix, Arizona.
Toscana’s shared amenities include two fitness centers, a yoga room, a game and billiards room, a community lounge, and an executive conference room. Building 10 permits 30-day rental options rather than the six-month minimum applicable elsewhere in the community. The property is located at 5450 E Deer Valley Drive in Phoenix, Arizona.
Key Highlights
- 1,385‑square‑foot Athena II floor plan with bonus den
- Ground‑level corner unit overlooking one of Toscana’s three pools
- Building 10 permits 30‑day rentals instead of a six‑month minimum
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
$16,154
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
3.60%
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%
$323,080
$323.1K
Cap Rate 7%
$230,771
$230.8K
Cap Rate 9%
$179,489
$179.5K
Market Conditions
NOI Build-Up for 1,385 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
$31.2K $22.56/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$29.4K $21.21/SF
− OpEx
−$13.2K −$9.54/SF
NOI
$16.2K $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%
$323,080
Cap Rate 7%
$230,771
Cap Rate 9%
$179,489
Alternative Uses
Best Use
Apartment 5plus
$230.8K
$201.9K – $269.2K
NOI $16,154 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$419.5K
$367.1K – $489.5K
NOI $29,367 @ 7.0% cap · market cap 6.54%
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level corner residence with a bonus den and access to fitness, recreation, and meeting amenities.
Where is this residential income property located?
The property is located at 5450 E DEER VALLEY Drive #1180 Phoenix, AZ.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,385‑square‑foot Athena II floor plan with bonus den; Ground‑level corner unit overlooking one of Toscana’s three pools; Building 10 permits 30‑day rentals instead of a six‑month minimum
