Residential Property with Private
For Sale
$299,000
8805 S 48TH Street 1, Phoenix, AZ 85044
An open-plan home combines updated interior finishes with a private backyard and access to shared community amenities.
Property Size976 SF
Price / SF$306.35
Days on Market82
Property Features for 8805 S 48TH Street 1
General Information
Standard status
Active
Size
976 SF
Property subtype
Apartment
Site & Location
Neighborhood
Ahwatukee Foothills
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,323
Amenities
community pools
walking and biking paths
dog park
private backyard
Building Details
Building Size
976 SF
Year Built
1985
Listing Agency:
Compass
Listed By:
Victoria Parejko
(480) 201-7471
Source:
Inspiredrealestatelife
Added: Aug 13
Changed: Oct 27
Last Checked: Oct 31 at 7:43PM
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 Compass
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Investment Insights
Based on property information with market context.
This 976-square-foot residential property in Pointe South Mountain was built in 1985 and has two bedrooms and 1.5 bathrooms. The open layout includes a dining area, tile flooring, quartz countertops, and stainless steel appliances. The primary bedroom has two closets, one of them a walk-in. Outside, the private backyard features new turf; a water softener is also installed.
Community amenities include four pools, walking and biking paths, and a dog park. HOA coverage includes water, sewer, and trash. The property is in Phoenix, with South Mountain Preserve, golf, shopping, dining, and freeway access described as minutes away.
Community amenities include four pools, walking and biking paths, and a dog park. HOA coverage includes water, sewer, and trash. The property is in Phoenix, with South Mountain Preserve, golf, shopping, dining, and freeway access described as minutes away.
Key Highlights
- 976 SF residential property built in 1985
- Two bedrooms and 1.5 bathrooms; primary bedroom has two closets, including a walk‑in
- Quartz countertops, stainless steel appliances, tile flooring, and a dedicated dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,384
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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
Frequently Asked Questions
What type of property is this?
Residential income property - An open-plan home combines updated interior finishes with a private backyard and access to shared community amenities.
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: 976 SF residential property built in 1985; Two bedrooms and 1.5 bathrooms; primary bedroom has two closets, including a walk‑in; Quartz countertops, stainless steel appliances, tile flooring, and a dedicated dining area
