Two-Unit Duplex
For Sale
$645,000
Pending
3597 Jamaica Blvd S, Lake Havasu City, AZ 86406
Separate residences offer tile finishes, private garages, and additional driveway and side parking.
Property Size2,854 SF
Days on Market49
Property Features for 3597 Jamaica Blvd S
General Information
Standard status
Pending
Size
2,854 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2005
Listing Agency:
eXp Realty
Listed By:
Jesse Sides · License #SA699503000
(760) 525-5136
Source:
Lakehavasuareahomesearch
Added: Jul 29
Changed: Sep 14
Last Checked: Sep 14 at 12:33PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This duplex property contains 2,854 square feet across two separate dwellings, each configured with 3 bedrooms, 2 bathrooms, and a 2-car garage. Both residences feature tile roofs and tile flooring throughout, with driveway and side parking serving the property. Constructed in 2005, the layout provides distinct living spaces within one income-producing asset.
The property is located at 3597 Jamaica Blvd S in Lake Havasu City, Arizona, across from Hacienda Mini Mart, The Spot, and Colombian Joe's coffee. Each dwelling currently has a long-term tenant in place. Interior photos date from December 2025.
The property is located at 3597 Jamaica Blvd S in Lake Havasu City, Arizona, across from Hacienda Mini Mart, The Spot, and Colombian Joe's coffee. Each dwelling currently has a long-term tenant in place. Interior photos date from December 2025.
Key Highlights
- Two separate dwellings within a 2,854‑square‑foot duplex property
- Each residence includes 3 bedrooms, 2 bathrooms, and a 2‑car garage
- Tile roofs and tile flooring throughout both dwellings
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
$21,295
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
3.30%
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%
$425,900
$425.9K
Cap Rate 7%
$304,214
$304.2K
Cap Rate 9%
$236,611
$236.6K
Market Conditions
NOI Build-Up for 2,854 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
$32.5K $11.40/SF
− Vacancy
−$2.1K −$0.74/SF
EGI
$30.4K $10.66/SF
− OpEx
−$9.1K −$3.20/SF
NOI
$21.3K $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%
$425,900
Cap Rate 7%
$304,214
Cap Rate 9%
$236,611
Alternative Uses
Best Use
Multifamily LT 5
$304.2K
$266.2K – $354.9K
NOI $21,295 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$283.9K
$248.4K – $331.2K
NOI $19,873 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$637.2K
$557.6K – $743.4K
NOI $44,605 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
118
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer tile finishes, private garages, and additional driveway and side parking.
Where is this duplex located?
The property is located at 3597 Jamaica Blvd S Lake Havasu City, AZ.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Two separate dwellings within a 2,854‑square‑foot duplex property; Each residence includes 3 bedrooms, 2 bathrooms, and a 2‑car garage; Tile roofs and tile flooring throughout both dwellings
