Charming Duplex Near Prescott
For Sale
$399,900
Pending
315 Garden Street, Prescott, AZ 86305
Well-maintained duplex near downtown Prescott, ideal for investment.
Property Size1,022 SF
Days on Market102
Property Features for 315 Garden Street
General Information
Standard status
Pending
Size
1,022 SF
Property subtype
Residential Income
Zoning
MF-H
Taxes and HOA fees
Annual Taxes
$675
Amenities
Ceiling Fan(s), Room Refrigeration
Natural Gas, Wall Furnace
Carpet, Tile, Vinyl
Asphalt
1.0
Storage
Building Details
Year Built
1939
Buildings
2
Listing Agency:
Realty Executives Arizona Territory
(928) 778-5790
Listed By:
Shelley L Baker · License #SA647835000
(928) 778-5790
Source:
Compass
Added: May 22
Changed: Aug 23
Last Checked: Aug 3 at 10:31AM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This well-maintained duplex, constructed in 1939, presents an investment opportunity near Prescott College and historic downtown Prescott. The property includes two move-in ready units situated on a level lot with parking. Unit A, encompassing 590 square feet, features a front porch, a full kitchen, one bedroom, a bonus room with a half bath, and a dedicated laundry room. Unit B, a 432-square-foot unit, offers a full kitchen, one bedroom, a gas fireplace, a 3/4 bath, and an in-unit stackable washer/dryer. On-site, three storage sheds provide additional space. The property is positioned to offer convenient access to the amenities of Prescott.
Key Highlights
- Steps from Prescott College and a short walk to downtown Prescott shops and restaurants.
- Move‑in ready duplex offering an affordable investment opportunity.
- Two separate units: Unit A (1 bed, bonus room, laundry), Unit B (1 bed, gas fireplace, in‑unit laundry).
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
$11,701
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
2.93%
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%
$234,020
$234.0K
Cap Rate 7%
$167,157
$167.2K
Cap Rate 9%
$130,011
$130.0K
Market Conditions
NOI Build-Up for 1,022 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
$17.8K $17.40/SF
− Vacancy
−$1.1K −$1.04/SF
EGI
$16.7K $16.36/SF
− OpEx
−$5.0K −$4.91/SF
NOI
$11.7K $11.45/SF
Area
Yavapai County, AZ
Vacancy
6.00%
Lease Rate
$17.40 /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%
$234,020
Cap Rate 7%
$167,157
Cap Rate 9%
$130,011
Alternative Uses
Best Use
Multifamily LT 5
$167.2K
$146.3K – $195.0K
NOI $11,701 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$155.6K
$136.2K – $181.6K
NOI $10,893 @ 7.0% cap · market cap 2.72%
Theoretical Best
Warehouse
$342.4K
$299.6K – $399.4K
NOI $23,966 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,931
Businesses Nearby
Explore this area
Business Placement
Demographics for 86305, AZ
19,555
Population
10,920
Households
1.8
Avg Household Size
62
Median Age
47%
College-Educated
97%
High-School Grad
588.5 sq mi
ZIP Area
33
Density / Sq Mi
$78,802
Median Household Income
$37,630
Median Earnings
$1,132
Median Rent
$627,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex near downtown Prescott, ideal for investment.
Where is this duplex located?
The property is located at 315 Garden Street Prescott, AZ.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Steps from Prescott College and a short walk to downtown Prescott shops and restaurants.; Move‑in ready duplex offering an affordable investment opportunity.; Two separate units: Unit A (1 bed, bonus room, laundry), Unit B (1 bed, gas fireplace, in‑unit laundry).
