Duplex with Renovated
For Sale
$632,913
2315 N Center Street, Flagstaff, AZ 86004
Separate utility meters and a remodeled front residence distinguish this two-unit property.
Property Size2,162 SF
Price / SF$292.74
Days on Market44
Property Features for 2315 N Center Street
General Information
Standard status
Active
Size
2,162 SF
Property subtype
Residential Income
Lease Term
1 Year +
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,935
Building Details
Building Size
2,162 SF
Year Built
1963
Buildings
1
Listing Agency:
RE/MAX Fine Properties
(928) 774-0066
Listed By:
Heidi Monday · License #SA653686000
(928) 699-0756
Source:
Highlandmeadowsrealestate
Added: Sep 12
Changed: Oct 24
Last Checked: Oct 24 at 2:45PM
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 RE/MAX Fine Properties
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Investment Insights
Based on property information with market context.
This 2,162-square-foot duplex, built in 1963, contains two residences, each with three bedrooms and one bathroom. The front unit has been updated with new flooring, interior paint, cabinets, doors, a fully renovated bathroom, and select kitchen appliances. Both units have separate utility meters, and occupants pay their own utilities. A new sidewalk runs around the buildings.
The rear residence is rented, while the remodeled front unit is available for leasing. Both gas heaters were replaced in 2021, and the roof was updated in 2015. The property is zoned for multiple units and is near Flagstaff Medical Center, Gore, and NAU.
The rear residence is rented, while the remodeled front unit is available for leasing. Both gas heaters were replaced in 2021, and the roof was updated in 2015. The property is zoned for multiple units and is near Flagstaff Medical Center, Gore, and NAU.
Key Highlights
- Two 3‑bedroom, 1‑bath units in a 2,162‑square‑foot duplex
- Front residence updated with flooring, paint, cabinets, doors, bathroom, and select kitchen appliances
- Separate utility meters; tenants pay their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,736
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,720
$394.7K
Cap Rate 7%
$281,943
$281.9K
Cap Rate 9%
$219,289
$219.3K
Market Conditions
NOI Build-Up for 2,162 SF
Gross rent
$29.8K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$28.2K $13.04/SF
− OpEx
−$8.5K −$3.91/SF
NOI
$19.7K $9.13/SF
Area
Coconino County, AZ
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,720
Cap Rate 7%
$281,943
Cap Rate 9%
$219,289
Alternative Uses
Best Use
Multifamily LT 5
$281.9K
$246.7K – $328.9K
NOI $19,736 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$261.4K
$228.8K – $305.0K
NOI $18,300 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$597.7K
$523.0K – $697.3K
NOI $41,840 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,291
Businesses Nearby
Explore this area
Business Placement
Demographics for 86004, AZ
38,451
Population
16,550
Households
2.3
Avg Household Size
37
Median Age
44%
College-Educated
95%
High-School Grad
914.5 sq mi
ZIP Area
42
Density / Sq Mi
$77,486
Median Household Income
$42,659
Median Earnings
$1,611
Median Rent
$464,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters and a remodeled front residence distinguish this two-unit property.
Where is this duplex located?
The property is located at 2315 N Center Street Flagstaff, AZ.
What is the asking price?
The asking price for this property is $632,913.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units in a 2,162‑square‑foot duplex; Front residence updated with flooring, paint, cabinets, doors, bathroom, and select kitchen appliances; Separate utility meters; tenants pay their own utilities
