Residential Income Property with Mountain
For Sale
$419,000
5450 E Deer Valley Drive 2206, Phoenix, AZ 85054
Second-floor condominium with two bedrooms, two bathrooms, northern exposure, private patio, and access to extensive community amenities.
Property Size1,468 SF
Price / SF$285.42
Days on Market38
Property Features for 5450 E Deer Valley Drive 2206
General Information
Standard status
Active
Size
1,468 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,180
Amenities
three heated pools
fitness center
multiple clubhouses
tennis courts
media room
business center
outdoor grilling areas
secure underground parking
guard-gated
Building Details
Building Size
1,468 SF
Year Built
2008
Listing Agency:
Real Broker
(714) 418-8110
Listed By:
Cristina A Pulido
(714) 418-8110
Source:
Luxuryhomesdesertmountain
Added: Jul 16
Changed: Aug 13
Last Checked: Aug 22 at 11:45AM
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 Real Broker
Investment Insights
Based on property information with market context.
This residential income property is a second-floor condominium with 1,468 square feet, two bedrooms, and two bathrooms. Northern exposure and views toward McDowell Mountain extend across the primary suite, living room, and private patio. The interior features an open layout, cherry shaker cabinetry, stainless steel appliances, and a dedicated indoor laundry and storage room. The 2008 residence also includes elevator access and secure underground parking.
Located within the guard-gated Toscana at Desert Ridge, the community provides three heated pools, a fitness center, clubhouses, tennis courts, a media room, business center, outdoor grilling areas, and direct elevator access to each floor. High Street, Desert Ridge Marketplace, and CityNorth are nearby, with access to Loop 101, SR-51, Mayo Clinic, golf courses, and Scottsdale.
Located within the guard-gated Toscana at Desert Ridge, the community provides three heated pools, a fitness center, clubhouses, tennis courts, a media room, business center, outdoor grilling areas, and direct elevator access to each floor. High Street, Desert Ridge Marketplace, and CityNorth are nearby, with access to Loop 101, SR-51, Mayo Clinic, golf courses, and Scottsdale.
Key Highlights
- 1,468‑square‑foot second‑floor condominium with 2 bedrooms and 2 bathrooms
- McDowell Mountain views from the primary suite, living room, and private patio
- Northern exposure with open living areas and a dedicated indoor laundry and storage room
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
$17,122
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
4.09%
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%
$342,440
$342.4K
Cap Rate 7%
$244,600
$244.6K
Cap Rate 9%
$190,244
$190.2K
Market Conditions
NOI Build-Up for 1,468 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
$33.1K $22.56/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$31.1K $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%
$342,440
Cap Rate 7%
$244,600
Cap Rate 9%
$190,244
Alternative Uses
Best Use
Apartment 5plus
$244.6K
$214.0K – $285.4K
NOI $17,122 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$444.7K
$389.1K – $518.8K
NOI $31,127 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with two bedrooms, two bathrooms, northern exposure, private patio, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 5450 E Deer Valley Drive 2206 Phoenix, AZ.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 1,468‑square‑foot second‑floor condominium with 2 bedrooms and 2 bathrooms; McDowell Mountain views from the primary suite, living room, and private patio; Northern exposure with open living areas and a dedicated indoor laundry and storage room
