Three-Bedroom Residential Income
7557 N DREAMY DRAW Drive 251, Phoenix, AZ 85020
For Sale
$365,000
An updated kitchen, two patios and a split-bedroom layout complement the spacious primary suite.
Property Size1,321 SF
Price / SF$276.31
Days on Market52
Property Features for 7557 N DREAMY DRAW Drive 251
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
pool
spa
Building Details
Building Size
Year Built
Listing Agency:
The Brokery
Listed By:
Denise L Sharp · License AZ SA036390000
(602) 703-8277
Source:
Bvoluxury
Added: Sep 19
Changed: Nov 9
Last Checked: Nov 8 at 2:43PM
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 The Brokery
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Investment Insights
Based on property information with market context.
This 1,321-square-foot residence, built in 1984, has three bedrooms and two full bathrooms. Its split-bedroom arrangement includes a spacious primary suite with room for an office or reading area, while the other two bedrooms have walk-in closets. The kitchen and appliances have been updated, and two patios provide outdoor space.
The home is in the Pointe Squaw Peak resort community, with a mountainside pool and spa nearby. Mountain views and access to hiking trails are part of the surrounding desert setting. Shopping, dining and Sky Harbor Airport are also nearby.
The home is in the Pointe Squaw Peak resort community, with a mountainside pool and spa nearby. Mountain views and access to hiking trails are part of the surrounding desert setting. Shopping, dining and Sky Harbor Airport are also nearby.
Key Highlights
- 1,321‑square‑foot residence with three bedrooms and two full bathrooms
- Split layout; two secondary bedrooms feature walk‑in closets
- Primary suite includes space for an office or reading nook
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,408
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,160
$308.2K
Cap Rate 7%
$220,114
$220.1K
Cap Rate 9%
$171,200
$171.2K
Market Conditions
NOI Build-Up for 1,321 SF
Gross rent
$29.8K $22.56/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$28.0K $21.21/SF
− OpEx
−$12.6K −$9.54/SF
NOI
$15.4K $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 Rate 5%
$308,160
Cap Rate 7%
$220,114
Cap Rate 9%
$171,200
Alternative Uses
Best Use
Apartment 5plus
$220.1K
$192.6K – $256.8K
NOI $15,408 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$400.1K
$350.1K – $466.8K
NOI $28,010 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
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Business Placement
Demographics for 85020, AZ
34,534
Population
18,231
Households
1.9
Avg Household Size
43
Median Age
43%
College-Educated
90%
High-School Grad
8.8 sq mi
ZIP Area
3,924
Density / Sq Mi
$78,412
Median Household Income
$48,230
Median Earnings
$1,389
Median Rent
$400,800
Median Home Value
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Market
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Frequently Asked Questions
What type of property is this?
Residential income property - An updated kitchen, two patios and a split-bedroom layout complement the spacious primary suite.
Where is this residential income property located?
The property is located at 7557 N DREAMY DRAW Drive 251 Phoenix, AZ.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1,321‑square‑foot residence with three bedrooms and two full bathrooms; Split layout; two secondary bedrooms feature walk‑in closets; Primary suite includes space for an office or reading nook
