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    Flagstaff Multifamily Investment Opportunity Title is generated by Realmo AI

    1662 E Mountain View Avenue, Flagstaff, AZ 86004

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    For Sale
    $1,389,000

    MULTI_FAMILY - Flagstaff, AZ

    Property size:
    2,952 SF
    Price / SF:
    $470/SF
    Added:
    May 14, 2026
    Days on Market:
    2
    Last Refresh:
    May 15 at 3:06 pm

    Property Features for 1662 E Mountain View Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    10706014
    Size
    2,952 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SUBDIVISION: SUNNYSIDE HILL SITES LOT: 7 TRACT: A SIXTEENTH: NE QUARTER: SW SECTION: 14 TOWNSHIP: 21N RANGE: 07E
    Tax Annual Amount
    3253

    Utilities

    Utilities
    Phone Available
    Heating system
    Natural Gas

    Building Details

    Year built
    2005
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Kelly Broaddus
    Kelly Broaddus

    Listing agent Kelly Broaddus License #BR644082000

    Listing office eXp Realty 16165 N 83RD AVE. #200, Peoria, AZ

    Listing date May 14, 2026

    MLS# 204517 Listing URL

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

    HighLights

    • Two Homes on One Property: Ideal for investors or multi‑generational living.
    • Prime Flagstaff Location: Minutes from downtown and a short drive to Snowbowl, Sedona, and the Grand Canyon.
    • Turn‑Key and Fully Furnished: Ready for immediate occupancy or vacation rental use.
    • No HOA and No Rental Restrictions: Provides flexibility and control.
    • Income Potential: Currently operating as a successful vacation rental.
    • Unfinished Basements: Opportunity to expand living space.

    Overview

    This property features two homes in Flagstaff, located minutes from downtown and a short drive from Snowbowl, Sedona, and the Grand Canyon. The property is currently operating as a vacation rental, and both homes come fully furnished. The primary residence features a main-level primary bedroom, with two additional bedrooms and a bath upstairs, plus a separate laundry room. The second home mirrors the same charm, providing flexible options for multi-generational living or additional rental income. Each home includes an unfinished basement with a dirt floor, presenting an opportunity to expand and increase square footage and income potential. The property is located in a quiet neighborhood with no HOA and no rental restrictions. The property size is 2952 square feet.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $277.6K
    NOI $24,987 @ 9.00% cap · cautious / downside scenario
    Moderate
    $357.0K
    NOI $24,987 @ 7.00% cap · market / base-case scenario
    Aggressive
    $499.7K
    NOI $24,987 @ 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 Apartment 5plus

    Component $ $/SF
    Gross rent $47.8k $16.20
    − Vacancy −$2.4k −$0.81
    EGI $45.4k $15.39
    − OpEx −$20.4k −$6.93
    NOI $25.0k $8.46
    2,952 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $357.0K
    $312.3K – $416.5K (±1% cap)
    NOI $24,987 @ 7.0% cap · market cap 1.80%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $816.1K
    $714.1K – $952.1K (±1% cap)
    NOI $57,128 @ 7.0% cap · market cap 4.11%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    True North Landscaping ... Landscaping

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Flagstaff
    County
    Coconino
    State
    Arizona
    Longitude
    -111.623196
    Latitude
    35.202115

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    FAQs

    What type of property is this?
    Short term rental property - Two homes in Flagstaff, ideal for short-term rental or living.
    Where is this short term rental property located?
    The property is located at 1662 E Mountain View Avenue Flagstaff, AZ.
    What is the asking price?
    The asking price for this property is $1,389,000.
    What are key features of this property?
    This property features: Two Homes on One Property: Ideal for investors or multi‑generational living.; Prime Flagstaff Location: Minutes from downtown and a short drive to Snowbowl, Sedona, and the Grand Canyon.; Turn‑Key and Fully Furnished: Ready for immediate occupancy or vacation rental use.
    (928) 606-6749
    We can help!
    Listing Contact
    Kelly Broaddus
    Kelly Broaddus
    Real Estate License ID: BR644082000
    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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