Corner-Lot
For Sale
$375,000
3451 Tomahawk Dr, Lake Havasu City, AZ 86406
MULTI_FAMILY - Lake Havasu City, AZ
Property Size1,925 SF
Lot Size0.27 Acres
Price / SF$194.81
Days on Market143
Property Features for 3451 Tomahawk Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
L-R-2 Two-Family Residential
Bedrooms
4
Rooms
Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 1
Subdivision
Lake Havasu City
Directions
Hwy 95 to Oro Grande Blvd to Thunderbolt Ave to Tomahawk Dr to Address on Right
Standard status
Active
APN
114-09-028
Size
1,925 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TRACT: 2256 LAKE HAVASU CITY TR 2256 BLK 4 LOT 4 SECS 17, 18, & 1 9
Tax Annual Amount
1152
Legal Description
TRACT: 2256 LAKE HAVASU CITY TR 2256 BLK 4 LOT 4 SECS 17, 18, & 1 9
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1972
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Wood Frame, Block, Slump Block
Roof type
Shingle
Listing Agency:
Rogue Realty
(847) 704-0694
Listed By:
Carrie Stryjewski · License #BR678608000
(847) 704-0694
Added: Mar 22
Changed: Aug 7
Last Checked: Aug 11 at 5:06AM
MLS# 1040005
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.
Built in 1972, this duplex contains two occupied units, each measuring approximately 963 square feet. Both units include an approximately 400-square-foot, 20-by-20-foot two-car garage. The property sits on a 0.27-acre corner lot and offers a practical residential income configuration with month-to-month tenancies.
Building features include wood frame, block, and slump block construction, shingle roofing, vinyl and carpet flooring, central and electric heating, and electric cooling with central air. Public water and public sewer serve the property, with electricity available. The duplex is located on Tomahawk Dr in Lake Havasu City, Arizona.
Building features include wood frame, block, and slump block construction, shingle roofing, vinyl and carpet flooring, central and electric heating, and electric cooling with central air. Public water and public sewer serve the property, with electricity available. The duplex is located on Tomahawk Dr in Lake Havasu City, Arizona.
Key Highlights
- Two‑unit duplex built in 1972
- Each unit is approximately 963 square feet
- Each unit includes an approximately 400‑square‑foot, 20x20‑foot, 2‑car garage
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
$14,363
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
3.83%
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%
$287,260
$287.3K
Cap Rate 7%
$205,186
$205.2K
Cap Rate 9%
$159,589
$159.6K
Market Conditions
NOI Build-Up for 1,925 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
$21.9K $11.40/SF
− Vacancy
−$1.4K −$0.74/SF
EGI
$20.5K $10.66/SF
− OpEx
−$6.2K −$3.20/SF
NOI
$14.4K $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%
$287,260
Cap Rate 7%
$205,186
Cap Rate 9%
$159,589
Alternative Uses
Best Use
Multifamily LT 5
$205.2K
$179.5K – $239.4K
NOI $14,363 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$191.5K
$167.6K – $223.4K
NOI $13,404 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$429.8K
$376.1K – $501.4K
NOI $30,085 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
220
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
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Frequently Asked Questions
What type of property is this?
Duplex - 1972-built income property with two occupied units, individual garages, and public water and sewer service.
Where is this duplex located?
The property is located at 3451 Tomahawk Dr Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1972; Each unit is approximately 963 square feet; Each unit includes an approximately 400‑square‑foot, 20x20‑foot, 2‑car garage
