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    Phoenix Duplex with Rental Potential Title is generated by Realmo AI

    1331 E PUEBLO Avenue, Phoenix, AZ 85040

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    For Sale
    Under Contract
    $489,000

    MULTI_FAMILY - Phoenix, AZ

    Property size:
    3,060 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $159/SF
    Added:
    Mar 5, 2026
    Days on Market:
    72
    Last Refresh:
    May 16 at 10:06 pm

    Property Features for 1331 E PUEBLO Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R3
    Parking features
    Carport
    Appliances
    Free-Standing Range, W/D Hookup
    Standard status
    Active Under Contract
    APN
    113-26-005-H
    Size
    3,060 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CENTER GROVE TRACT MCR 18/7 LOT 19 N 147F OF W 110F EX N 25F & EX S 20F
    Tax Annual Amount
    1031

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2007
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Painted, Block
    Roof type
    Composition

    We can help!

    Listing Contact
    Gregory P Johnson
    Gregory P Johnson

    Listing agent Gregory P Johnson License #BR008487000

    Listing office United Southwest Realty 8601 E Hazelwood Street, SCOTTSDALE, AZ

    Listing date Mar 5, 2026

    MLS# 6993969 Listing URL

    Copyright © 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 4 Bed / 2 Bath layout (~1,530 SF per unit) ideal for rental income.
    • 4‑car covered parking (2 carports per unit) + extra parking.
    • Each unit has in‑unit laundry hookups.
    • Big fenced yard + patio.
    • New flooring, ceiling fans, blinds & water heater (unit 2).
    • Central A/C & heat.

    Overview

    This duplex, constructed in 2007, features a total of 3,060 square feet of living space on an 11,220 square foot lot. Each unit offers a spacious 4-bedroom, 2-bathroom layout, approximately 1,530 square feet, suitable for traditional rental, co-living arrangements, or room-by-room income strategies. Unit 2 has new flooring, ceiling fans, blinds and water heater. Each unit includes in-unit laundry hookups, central air conditioning, and heating. The property features single-level units, a large fenced yard with a patio, and covered parking for four cars, with two carports allocated to each unit, plus extra parking. The seller replaced the sewer line from Unit 2 to the city sewer in 2026.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $445.3K
    NOI $40,079 @ 9.00% cap · cautious / downside scenario
    Moderate
    $572.6K
    NOI $40,079 @ 7.00% cap · market / base-case scenario
    Aggressive
    $801.6K
    NOI $40,079 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $60.6k $19.80
    − Vacancy −$3.3k −$1.09
    EGI $57.3k $18.71
    − OpEx −$17.2k −$5.61
    NOI $40.1k $13.10
    3,060 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $572.6K
    $501.0K – $668.0K (±1% cap)
    NOI $40,079 @ 7.0% cap · market cap 8.20%
    Second Best
    Apartment 5plus
    $509.9K
    $446.1K – $594.8K (±1% cap)
    NOI $35,690 @ 7.0% cap · market cap 7.30%
    Theoretical Best
    Office A
    $926.9K
    $811.0K – $1.08M (±1% cap)
    NOI $64,883 @ 7.0% cap · market cap 13.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phoenix
    County
    Maricopa
    State
    Arizona
    Longitude
    -112.052391
    Latitude
    33.407434

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    FAQs

    What type of property is this?
    Duplex - Duplex with large units, ideal for rental income.
    Where is this duplex located?
    The property is located at 1331 E PUEBLO Avenue Phoenix, AZ.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: Large 4 Bed / 2 Bath layout (~1,530 SF per unit) ideal for rental income.; 4‑car covered parking (2 carports per unit) + extra parking.; Each unit has in‑unit laundry hookups.
    (602) 717-5115
    We can help!
    Listing Contact
    Gregory P Johnson
    Gregory P Johnson
    Real Estate License ID: BR008487000
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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