Two-Bedroom Condominium with Private
For Sale
$245,000
920 E DEVONSHIRE Avenue 3031, Phoenix, AZ 85014
A second-floor residence pairs elevator access with a private balcony and two-car garage.
Property Size1,024 SF
Price / SF$239.26
Days on Market136
Property Features for 920 E DEVONSHIRE Avenue 3031
General Information
Standard status
Active
Size
1,024 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Apartment
Site & Location
Neighborhood
Encanto
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$774
Amenities
gated community
pool/spa
fitness center
community room
private balcony
Building Details
Building Size
1,024 SF
Year Built
2006
Listing Agency:
Keller Williams Realty Sonoran Living
Listed By:
BVO Luxury Group · License #01428775
(833) 286-7653
Source:
Bvoluxury
Added: Jun 15
Changed: Oct 26
Last Checked: Oct 26 at 11:17AM
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 Keller Williams Realty Sonoran Living
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Investment Insights
Based on property information with market context.
This 1,184-square-foot condominium has two bedrooms and two bathrooms. The living and dining areas share a spacious open room, while the primary bedroom includes an ensuite with dual sinks and a step-in shower. A walk-in closet serves the guest bedroom, and ceiling fans are installed in both bedrooms and the living room. The unit was built in 2004 and is on the second floor beside the elevator.
A private balcony extends the living space outdoors. The gated community also offers a pool and spa, fitness center, and community room. The residence includes a private two-car garage.
A private balcony extends the living space outdoors. The gated community also offers a pool and spa, fitness center, and community room. The residence includes a private two-car garage.
Key Highlights
- 1,184‑square‑foot condominium with two bedrooms and two bathrooms
- Private two‑car garage
- Second‑floor unit located beside the elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,943
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,860
$238.9K
Cap Rate 7%
$170,614
$170.6K
Cap Rate 9%
$132,700
$132.7K
Market Conditions
NOI Build-Up for 1,024 SF
Gross rent
$23.1K $22.56/SF
− Vacancy
−$1.4K −$1.35/SF
EGI
$21.7K $21.21/SF
− OpEx
−$9.8K −$9.54/SF
NOI
$11.9K $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%
$238,860
Cap Rate 7%
$170,614
Cap Rate 9%
$132,700
Alternative Uses
Best Use
Apartment 5plus
$170.6K
$149.3K – $199.1K
NOI $11,943 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.2K
$271.4K – $361.9K
NOI $21,712 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - A second-floor residence pairs elevator access with a private balcony and two-car garage.
Where is this residential income property located?
The property is located at 920 E DEVONSHIRE Avenue 3031 Phoenix, AZ.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 1,184‑square‑foot condominium with two bedrooms and two bathrooms; Private two‑car garage; Second‑floor unit located beside the elevator
