Updated Two-Bedroom
For Sale
$210,000
653 W GUADALUPE Road 2015, Mesa, AZ 85210
Split-bedroom condominium with updated finishes, included appliances, laundry equipment, balcony, and community pool access.
Property Size871 SF
Days on Market19
Property Features for 653 W GUADALUPE Road 2015
General Information
Standard status
Active
Size
871 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$464
Amenities
community pool
balcony
washer and dryer
Building Details
Building Size
871 SF
Year Built
1984
Listing Agency:
Stratton Vantage Property Management
(480) 440-6134
Listed By:
Mary C. Buchli · License #SA646127000
(480) 440-6134
Source:
Gillettegroupaz
Added: Aug 5
Changed: Aug 21
Last Checked: Aug 22 at 10:23AM
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 Stratton Vantage Property Management
Investment Insights
Based on property information with market context.
Built in 1984, this two-bedroom, two-bathroom condominium features a split-bedroom layout and a recently refreshed interior. Improvements include new paint, updated bathroom finishes, a reglazed shower, a newer roof, and a premium appliance package with stove, microwave, dishwasher, and refrigerator. A washer and dryer are also included.
The home adds outdoor space through a large balcony, while residents have access to a community pool. Its Mesa address places the property minutes from Gilbert and Chandler, with dining, shopping, and entertainment nearby. A home warranty remains in place through August 1, 2027.
The home adds outdoor space through a large balcony, while residents have access to a community pool. Its Mesa address places the property minutes from Gilbert and Chandler, with dining, shopping, and entertainment nearby. A home warranty remains in place through August 1, 2027.
Key Highlights
- 2‑bedroom, 2‑bathroom condominium with split‑bedroom floor plan
- Fresh interior paint and updated bathroom finishes
- Newer roof and premium appliance package included
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
$6,812
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
3.24%
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%
$136,240
$136.2K
Cap Rate 7%
$97,314
$97.3K
Cap Rate 9%
$75,689
$75.7K
Market Conditions
NOI Build-Up for 871 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
$13.3K $15.24/SF
− Vacancy
−$889 −$1.02/SF
EGI
$12.4K $14.22/SF
− OpEx
−$5.6K −$6.40/SF
NOI
$6.8K $7.82/SF
Area
Mesa, AZ
Vacancy
6.70%
Lease Rate
$15.24 /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%
$136,240
Cap Rate 7%
$97,314
Cap Rate 9%
$75,689
Alternative Uses
Best Use
Apartment 5plus
$97.3K
$85.2K – $113.5K
NOI $6,812 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$238.7K
$208.9K – $278.5K
NOI $16,712 @ 7.0% cap · market cap 7.96%
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
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 85210, AZ
40,351
Population
16,292
Households
2.5
Avg Household Size
32
Median Age
25%
College-Educated
84%
High-School Grad
6.7 sq mi
ZIP Area
6,023
Density / Sq Mi
$59,680
Median Household Income
$38,479
Median Earnings
$1,383
Median Rent
$301,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Split-bedroom condominium with updated finishes, included appliances, laundry equipment, balcony, and community pool access.
Where is this residential income property located?
The property is located at 653 W GUADALUPE Road 2015 Mesa, AZ.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom condominium with split‑bedroom floor plan; Fresh interior paint and updated bathroom finishes; Newer roof and premium appliance package included
