Updated Residential Income
For Sale
$350,000
7401 W ARROWHEAD CLUBHOUSE Drive 2083, Glendale, AZ 85308
Gated two-bedroom condo with an attached garage, covered balcony, private laundry, and access to pool, spa, and clubhouse amenities.
Property Size1,214 SF
Days on Market41
Property Features for 7401 W ARROWHEAD CLUBHOUSE Drive 2083
General Information
Standard status
Active
Size
1,214 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,246
Amenities
pool
spa
clubhouse
Building Details
Building Size
1,214 SF
Year Built
2002
Listing Agency:
Local Luxury Christie's International Real Estate
(512) 351-5946
Listed By:
Allison Ikeler
(512) 351-5946
Source:
Jcluxuryresidential
Added: Jul 7
Changed: Aug 12
Last Checked: Aug 15 at 12:01PM
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 Local Luxury Christie's International Real Estate
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath condominium was built in 2002 and features an open interior layout with an eat-in kitchen, breakfast bar, pantry, stainless steel appliances, ample cabinetry, and generous counter space. The home also includes a private laundry area, multiple storage closets, a covered balcony, and an attached one-car garage. Vinyl flooring and kitchen appliances were updated in 2025.
The residence is within the gated Fairways at Arrowhead community, which offers a pool, spa, and clubhouse. The property is near Arrowhead Country Club, Arrowhead Towne Center, Midwestern University, the P83 Entertainment District, golf, dining, shopping, Peoria Sports Complex, and Loop 101.
The residence is within the gated Fairways at Arrowhead community, which offers a pool, spa, and clubhouse. The property is near Arrowhead Country Club, Arrowhead Towne Center, Midwestern University, the P83 Entertainment District, golf, dining, shopping, Peoria Sports Complex, and Loop 101.
Key Highlights
- Two‑bedroom, two‑bath condominium built in 2002
- 2025 updates include vinyl flooring and stainless steel kitchen appliances
- Private attached one‑car garage and covered balcony
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
$12,361
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
3.53%
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%
$247,220
$247.2K
Cap Rate 7%
$176,586
$176.6K
Cap Rate 9%
$137,344
$137.3K
Market Conditions
NOI Build-Up for 1,214 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
$24.0K $19.80/SF
− Vacancy
−$1.6K −$1.29/SF
EGI
$22.5K $18.51/SF
− OpEx
−$10.1K −$8.33/SF
NOI
$12.4K $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%
$247,220
Cap Rate 7%
$176,586
Cap Rate 9%
$137,344
Alternative Uses
Best Use
Apartment 5plus
$176.6K
$154.5K – $206.0K
NOI $12,361 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.3K
$333.7K – $444.9K
NOI $26,693 @ 7.0% cap · market cap 7.63%
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
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 85308, AZ
66,540
Population
26,540
Households
2.5
Avg Household Size
40
Median Age
38%
College-Educated
95%
High-School Grad
16.9 sq mi
ZIP Area
3,937
Density / Sq Mi
$95,512
Median Household Income
$50,026
Median Earnings
$1,777
Median Rent
$420,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Gated two-bedroom condo with an attached garage, covered balcony, private laundry, and access to pool, spa, and clubhouse amenities.
Where is this residential income property located?
The property is located at 7401 W ARROWHEAD CLUBHOUSE Drive 2083 Glendale, AZ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium built in 2002; 2025 updates include vinyl flooring and stainless steel kitchen appliances; Private attached one‑car garage and covered balcony
