Lake Havasu City
For Sale
$498,000
3195 Arapaho Dr, Lake Havasu City, AZ 86406
MULTI_FAMILY - Lake Havasu City, AZ
Property Size2,318 SF
Lot Size0.23 Acres
Price / SF$214.84
Days on Market363
Property Features for 3195 Arapaho Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
L-R-2 Two-Family Residential
Bedrooms
5
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 4
Subdivision
Lake Havasu City
Directions
THUNDERBOLT TO ARAPAHO
Standard status
Active
APN
114-09-012
Size
2,318 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LAKE HAVASU CITY TR 2256 BLK 2 LOT 6 SECS 17, 18, & 19
Tax Annual Amount
1364
Legal Description
LAKE HAVASU CITY TR 2256 BLK 2 LOT 6 SECS 17, 18, & 19
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
dog run
deck
Building Details
Year built
1974
Number of units
2
Flooring type
Tile, Carpet, Each unit different
Building materials
Stucco
Listing Agency:
Paradise Sales & Management
(928) 846-4330
Listed By:
Martin L. Standsberry
(928) 846-4330
Added: Aug 25, 2025
Changed: Aug 3
Last Checked: Aug 22 at 8:06AM
MLS# 1036868
Copyright © 2026 Lake Havasu Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Santa Fe style duplex in Lake Havasu City, Arizona, presents an investment opportunity. Unit #2 features 3 bedrooms, 2 bathrooms, a den, a 2-car garage, a dog run, and a deck. Unit #1 includes 2 bedrooms, 1 bathroom, and a 1-car garage. The property, situated on a 0.23-acre lot, provides ample parking space. The building has 2,318 square feet of space. Both units are tenant occupied.
Key Highlights
- Santa Fe style duplex built in 1974 with stucco construction
- Both units are tenant occupied (Unit #1 and Unit #2)
- Unit #2: 3 bed, 2 bath plus den, 2‑car garage, dog run, and deck
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
$17,295
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
3.47%
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%
$345,900
$345.9K
Cap Rate 7%
$247,071
$247.1K
Cap Rate 9%
$192,167
$192.2K
Market Conditions
NOI Build-Up for 2,318 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
$26.4K $11.40/SF
− Vacancy
−$1.7K −$0.74/SF
EGI
$24.7K $10.66/SF
− OpEx
−$7.4K −$3.20/SF
NOI
$17.3K $7.46/SF
Area
Mohave County, AZ
Vacancy
6.50%
Lease Rate
$11.40 /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%
$345,900
Cap Rate 7%
$247,071
Cap Rate 9%
$192,167
Alternative Uses
Best Use
Multifamily LT 5
$247.1K
$216.2K – $288.3K
NOI $17,295 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$230.6K
$201.8K – $269.0K
NOI $16,141 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$517.5K
$452.9K – $603.8K
NOI $36,228 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 86406, AZ
24,935
Population
14,846
Households
1.7
Avg Household Size
57
Median Age
19%
College-Educated
94%
High-School Grad
244.5 sq mi
ZIP Area
102
Density / Sq Mi
$74,171
Median Household Income
$45,457
Median Earnings
$1,311
Median Rent
$434,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Santa Fe style duplex in Lake Havasu City, Arizona.
Where is this duplex located?
The property is located at 3195 Arapaho Dr Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Santa Fe style duplex built in 1974 with stucco construction; Both units are tenant occupied (Unit #1 and Unit #2); Unit #2: 3 bed, 2 bath plus den, 2‑car garage, dog run, and deck
