Updated Residential Income
For Sale
$299,000
8805 S 48TH Street 1, Phoenix, AZ 85044
Two-bedroom residence with quartz counters, stainless appliances, private backyard, and access to four community pools.
Property Size976 SF
Days on Market10
Property Features for 8805 S 48TH Street 1
General Information
Standard status
Active
Size
976 SF
Property subtype
Apartment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,323
Amenities
private backyard
community pools
walking and biking paths
dog park
Building Details
Building Size
976 SF
Year Built
1985
Listing Agency:
Compass
(480) 201-7471
Listed By:
Victoria Parejko
(480) 201-7471
Source:
Gillettegroupaz
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 21 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 Compass
Investment Insights
Based on property information with market context.
This updated residential income property is a two-bedroom, 1.5-bath residence built in 1985. Its open interior includes quartz countertops, stainless steel appliances, tile flooring, and a defined dining area. The primary suite provides two closets, including a walk-in closet, while the private backyard features new turf. A water softener is also included.
Community amenities include four pools, walking and biking paths, and a dog park. Water, sewer, and trash are included through the HOA. The property is located near South Mountain Preserve, golf, shopping, dining, and freeway access, providing convenient access to a range of nearby recreational, retail, and transportation options.
Community amenities include four pools, walking and biking paths, and a dog park. Water, sewer, and trash are included through the HOA. The property is located near South Mountain Preserve, golf, shopping, dining, and freeway access, providing convenient access to a range of nearby recreational, retail, and transportation options.
Key Highlights
- Two‑bedroom, 1.5‑bath residence built in 1985
- Quartz countertops, stainless steel appliances, and tile flooring
- Primary suite includes two closets, including a walk‑in closet
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
$11,384
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
3.81%
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%
$227,680
$227.7K
Cap Rate 7%
$162,629
$162.6K
Cap Rate 9%
$126,489
$126.5K
Market Conditions
NOI Build-Up for 976 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
$22.0K $22.56/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$20.7K $21.21/SF
− OpEx
−$9.3K −$9.54/SF
NOI
$11.4K $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 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%
$227,680
Cap Rate 7%
$162,629
Cap Rate 9%
$126,489
Alternative Uses
Best Use
Apartment 5plus
$162.6K
$142.3K – $189.7K
NOI $11,384 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$295.6K
$258.7K – $344.9K
NOI $20,695 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 85044, AZ
39,559
Population
18,817
Households
2.1
Avg Household Size
41
Median Age
50%
College-Educated
97%
High-School Grad
16.5 sq mi
ZIP Area
2,398
Density / Sq Mi
$96,374
Median Household Income
$58,220
Median Earnings
$1,798
Median Rent
$437,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with quartz counters, stainless appliances, private backyard, and access to four community pools.
Where is this residential income property located?
The property is located at 8805 S 48TH Street 1 Phoenix, AZ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath residence built in 1985; Quartz countertops, stainless steel appliances, and tile flooring; Primary suite includes two closets, including a walk‑in closet
