Updated Two-Bedroom
New
For Sale
$515,000
5450 E Deer Valley Dr #3009, Phoenix, AZ 85054
Third-floor corner residence with refreshed interiors, covered balcony, and access to resort-style community amenities.
Property Size1,464 SF
Price / SF$351.78
Days on Market3
Property Features for 5450 E Deer Valley Dr #3009
General Information
Standard status
Active
Size
1,464 SF
Elevators
Yes
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
secure building access
enclosed lobby
pools
fitness facilities
clubhouses
landscaped common areas
Building Details
Year Built
2008
Listing Agency:
RE/MAX A Bar Z Realty
(520) 466-5350
Listed By:
Thompson Shepherd Group
(480) 418-1838
Source:
Thompsonshepherdgroup
Added: Sep 15
Last Checked: Sep 16 at 5:42PM
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 RE/MAX A Bar Z Realty
Investment Insights
Based on property information with market context.
This residential income property is a 1,464-square-foot condominium at Toscana at Desert Ridge, completed in 2008. The third-floor corner layout includes two bedrooms, two bathrooms, an open living and dining arrangement, and an updated kitchen. Renovated bathrooms, contemporary flooring, plantation shutters, upgraded lighting, and a covered balcony with mountain views add to the interior and exterior features. The primary bath includes a freestanding tub and separate walk-in shower.
Community amenities include controlled building entry, an enclosed lobby, elevator service, underground parking, pools, fitness facilities, clubhouses, and landscaped common areas. The property is located at 5450 E Deer Valley Dr #3009 in Phoenix, with access to High Street, Desert Ridge Marketplace, Loop 101, and SR 51.
Community amenities include controlled building entry, an enclosed lobby, elevator service, underground parking, pools, fitness facilities, clubhouses, and landscaped common areas. The property is located at 5450 E Deer Valley Dr #3009 in Phoenix, with access to High Street, Desert Ridge Marketplace, Loop 101, and SR 51.
Key Highlights
- 1,464‑square‑foot condominium at Toscana at Desert Ridge
- Third‑floor corner unit with 2 bedrooms and 2 bathrooms
- Updated kitchen, renovated bathrooms, modern flooring, and upgraded lighting
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
$17,075
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
3.32%
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%
$341,500
$341.5K
Cap Rate 7%
$243,929
$243.9K
Cap Rate 9%
$189,722
$189.7K
Market Conditions
NOI Build-Up for 1,464 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
$33.0K $22.56/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$31.0K $21.21/SF
− OpEx
−$14.0K −$9.54/SF
NOI
$17.1K $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%
$341,500
Cap Rate 7%
$243,929
Cap Rate 9%
$189,722
Alternative Uses
Best Use
Apartment 5plus
$243.9K
$213.4K – $284.6K
NOI $17,075 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$443.5K
$388.0K – $517.4K
NOI $31,042 @ 7.0% cap · market cap 6.03%
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
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor corner residence with refreshed interiors, covered balcony, and access to resort-style community amenities.
Where is this residential income property located?
The property is located at 5450 E Deer Valley Dr #3009 Phoenix, AZ.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 1,464‑square‑foot condominium at Toscana at Desert Ridge; Third‑floor corner unit with 2 bedrooms and 2 bathrooms; Updated kitchen, renovated bathrooms, modern flooring, and upgraded lighting
