Residential Income
For Sale
$210,000
Pending
10110 N 97TH Drive A, Peoria, AZ 85345
Move-in ready duplex in Sun Air Estates with an updated kitchen, abundant natural light, and a patio overlooking open backyard views.
Property Size1,025 SF
Days on Market182
Property Features for 10110 N 97TH Drive A
General Information
Standard status
Pending
Size
1,025 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$527
Amenities
backyard
patio
Building Details
Year Built
1973
Listing Agency:
Century 21 Toma Partners
(602) 954-2000
Listed By:
Aaron Le · License #SA695412000
(623) 986-2952
Source:
Exitrealty
Added: Mar 12
Changed: Aug 10
Last Checked: Jul 23 at 5:35AM
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 Century 21 Toma Partners
Investment Insights
Based on property information with market context.
This very clean and well cared for duplex in the Sun Air Estates community offers a comfortable layout with plenty of natural light throughout. The kitchen has been updated and provides a functional space with plenty of cabinet space while maintaining the home’s charm. The property is move-in ready and has been well maintained over the years.
Outside, the backyard stands out with no homes directly behind, creating open views and room to enjoy Arizona sunsets from the patio in the evenings. The home is conveniently located near shopping, dining, golf, and everyday amenities.
Overall, the residence pairs thoughtful interior updates with a relaxed outdoor setting, making it an appealing option for buyers seeking a well-kept income property in a cared-for community.
Outside, the backyard stands out with no homes directly behind, creating open views and room to enjoy Arizona sunsets from the patio in the evenings. The home is conveniently located near shopping, dining, golf, and everyday amenities.
Overall, the residence pairs thoughtful interior updates with a relaxed outdoor setting, making it an appealing option for buyers seeking a well-kept income property in a cared-for community.
Key Highlights
- Duplex home in Sun Air Estates, built in 1973
- Updated kitchen with ample cabinet space
- Move‑in ready and well maintained with abundant natural light
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
$12,345
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
5.88%
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%
$246,900
$246.9K
Cap Rate 7%
$176,357
$176.4K
Cap Rate 9%
$137,167
$137.2K
Market Conditions
NOI Build-Up for 1,025 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
$19.1K $18.60/SF
− Vacancy
−$1.4K −$1.40/SF
EGI
$17.6K $17.21/SF
− OpEx
−$5.3K −$5.16/SF
NOI
$12.3K $12.04/SF
Area
Peoria, AZ
Vacancy
7.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$246,900
Cap Rate 7%
$176,357
Cap Rate 9%
$137,167
Alternative Uses
Best Use
Multifamily LT 5
$176.4K
$154.3K – $205.8K
NOI $12,345 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$164.1K
$143.6K – $191.5K
NOI $11,489 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$252.4K
$220.8K – $294.4K
NOI $17,665 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Explore this area
Business Placement
Demographics for 85345, AZ
61,024
Population
24,273
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
87%
High-School Grad
12.7 sq mi
ZIP Area
4,805
Density / Sq Mi
$64,563
Median Household Income
$40,280
Median Earnings
$1,563
Median Rent
$278,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Move-in ready duplex in Sun Air Estates with an updated kitchen, abundant natural light, and a patio overlooking open backyard views.
Where is this duplex located?
The property is located at 10110 N 97TH Drive A Peoria, AZ.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Duplex home in Sun Air Estates, built in 1973; Updated kitchen with ample cabinet space; Move‑in ready and well maintained with abundant natural light
