Gated Two-Bedroom
For Sale
$114,900
6302 N 64TH Drive 12, Glendale, AZ 85301
Condominium residence with updated bedroom carpeting, newer AC, and limited shared-wall exposure.
Property Size750 SF
Days on Market93
Property Features for 6302 N 64TH Drive 12
General Information
Standard status
Active
Size
750 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$275
Building Details
Building Size
750 SF
Year Built
1985
Listing Agency:
Desert Valley Realty Investments & Property Management, LLC
(480) 266-8005
Listed By:
Orlando Bertolo
(480) 266-8005
Source:
Alexiabertsatos
Added: May 16
Changed: Aug 11
Last Checked: Aug 15 at 12:46PM
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 Desert Valley Realty Investments & Property Management, LLC
Investment Insights
Based on property information with market context.
This condominium is located within a small gated complex in Glendale, Arizona. The residence includes 2 bedrooms and 1.5 bathrooms, with only one shared wall. Brand-new carpet extends through the bedrooms, hallway, and stairs, while a newer AC unit provides an additional recent improvement.
Built in 1985, the property is situated at 6302 N 64TH Drive 12. The combination of a gated setting, limited shared-wall exposure, refreshed flooring, and updated cooling equipment defines the offering.
Built in 1985, the property is situated at 6302 N 64TH Drive 12. The combination of a gated setting, limited shared-wall exposure, refreshed flooring, and updated cooling equipment defines the offering.
Key Highlights
- 2‑bedroom, 1.5‑bathroom condominium
- Small gated complex
- Only one shared wall
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
$7,637
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
6.65%
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%
$152,740
$152.7K
Cap Rate 7%
$109,100
$109.1K
Cap Rate 9%
$84,856
$84.9K
Market Conditions
NOI Build-Up for 750 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
$14.9K $19.80/SF
− Vacancy
−$965 −$1.29/SF
EGI
$13.9K $18.51/SF
− OpEx
−$6.2K −$8.33/SF
NOI
$7.6K $10.18/SF
Area
Glendale, AZ
Vacancy
6.50%
Lease Rate
$19.80 /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%
$152,740
Cap Rate 7%
$109,100
Cap Rate 9%
$84,856
Alternative Uses
Best Use
Apartment 5plus
$109.1K
$95.5K – $127.3K
NOI $7,637 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$235.6K
$206.1K – $274.9K
NOI $16,491 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
463
Businesses Nearby
Explore this area
Business Placement
Demographics for 85301, AZ
67,380
Population
24,019
Households
2.8
Avg Household Size
30
Median Age
11%
College-Educated
71%
High-School Grad
9.3 sq mi
ZIP Area
7,245
Density / Sq Mi
$47,422
Median Household Income
$33,727
Median Earnings
$1,189
Median Rent
$218,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with updated bedroom carpeting, newer AC, and limited shared-wall exposure.
Where is this residential income property located?
The property is located at 6302 N 64TH Drive 12 Glendale, AZ.
What is the asking price?
The asking price for this property is $114,900.
What are key features of this property?
This property features: 2‑bedroom, 1.5‑bathroom condominium; Small gated complex; Only one shared wall
