Residential Income Property with
For Sale
$319,500
8430 N Central Avenue C, Phoenix, AZ 85020
Updated townhome-style residence with private outdoor spaces, community recreation, and convenient freeway access.
Property Size1,350 SF
Price / SF$244.27
Days on Market96
Property Features for 8430 N Central Avenue C
General Information
Standard status
Active
Size
1,350 SF
Total Parking Spaces
2
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,441
Amenities
pool
spa
tennis court
Building Details
Building Size
1,350 SF
Year Built
1974
Listing Agency:
Redfin Corporation
(480) 918-9822
Listed By:
Gregory R Janis
(480) 918-9822
Source:
Alexiabertsatos
Added: May 20
Changed: Aug 22
Last Checked: Aug 22 at 12:02PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This residential income property is configured as a townhome with 1,308 square feet of living area, two bedrooms, and 1.5 bathrooms. Built in 1974, it includes a private courtyard entry, living and dining areas, a kitchen with black and stainless steel appliances, tile and vinyl plank flooring, and a primary bedroom with a private balcony. An attached two-car garage includes a washer and dryer. The property is offered in as-is condition.
Community amenities include a pool, spa, and tennis court. The property is located near schools, shopping, dining, downtown venues, and freeway access in North Central Phoenix.
Community amenities include a pool, spa, and tennis court. The property is located near schools, shopping, dining, downtown venues, and freeway access in North Central Phoenix.
Key Highlights
- 1,308‑square‑foot townhome‑style residential income property
- Two bedrooms and 1.5 bathrooms
- Private courtyard entry and primary‑bedroom 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
$15,256
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
4.77%
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%
$305,120
$305.1K
Cap Rate 7%
$217,943
$217.9K
Cap Rate 9%
$169,511
$169.5K
Market Conditions
NOI Build-Up for 1,308 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
$29.5K $22.56/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$27.7K $21.21/SF
− OpEx
−$12.5K −$9.54/SF
NOI
$15.3K $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%
$305,120
Cap Rate 7%
$217,943
Cap Rate 9%
$169,511
Alternative Uses
Best Use
Apartment 5plus
$217.9K
$190.7K – $254.3K
NOI $15,256 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$396.2K
$346.7K – $462.2K
NOI $27,734 @ 7.0% cap · market cap 8.68%
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
748
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated townhome-style residence with private outdoor spaces, community recreation, and convenient freeway access.
Where is this residential income property located?
The property is located at 8430 N Central Avenue C Phoenix, AZ.
What is the asking price?
The asking price for this property is $319,500.
What are key features of this property?
This property features: 1,308‑square‑foot townhome‑style residential income property; Two bedrooms and 1.5 bathrooms; Private courtyard entry and primary‑bedroom balcony
