Duplex with Separate
New
For Sale
$765,000
4132 N 11th St, Phoenix, AZ 85014
New construction offers two separately metered rental units with private yards and dedicated parking.
Property Size1,947 SF
Price / SF$392.91
Days on Market1
Property Features for 4132 N 11th St
General Information
Standard status
Active
Size
1,947 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Gross Income
$61,440
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2025
Buildings
1
Listing Agency:
My Home Group Real Estate
(480) 685-2760
Listed By:
Jeremy Jennings
(623) 986-6650
Source:
Theazliving
Added: Sep 13
Last Checked: Sep 13 at 7:25AM
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 My Home Group Real Estate
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex contains approximately 1,947 square feet across two separately metered residences. The 1,102-square-foot main unit has 2 bedrooms, while the 845-square-foot second unit includes 3 bedrooms. Each residence includes modern finishes, a private yard, dedicated parking for two vehicles, and a low-maintenance design.
Both units are leased with tenants secured through August 2027, providing established occupancy for the incoming owner. Separate electric meters support independent utility management between residences. The property is near Downtown Phoenix, major hospitals, employment centers, shopping, dining, and freeway access. An identical duplex with similar leases is also available next door at 4136 N 11th St.
Both units are leased with tenants secured through August 2027, providing established occupancy for the incoming owner. Separate electric meters support independent utility management between residences. The property is near Downtown Phoenix, major hospitals, employment centers, shopping, dining, and freeway access. An identical duplex with similar leases is also available next door at 4136 N 11th St.
Key Highlights
- 2025‑built duplex totaling approximately 1,947 sq ft
- 1,102 sq ft main residence with 2 bedrooms
- 845 sq ft second unit with 3 bedrooms
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
$25,501
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
3.33%
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%
$510,020
$510.0K
Cap Rate 7%
$364,300
$364.3K
Cap Rate 9%
$283,344
$283.3K
Market Conditions
NOI Build-Up for 1,947 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
$38.6K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$36.4K $18.71/SF
− OpEx
−$10.9K −$5.61/SF
NOI
$25.5K $13.10/SF
Area
Phoenix, AZ
Vacancy
5.50%
Lease Rate
$19.80 /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%
$510,020
Cap Rate 7%
$364,300
Cap Rate 9%
$283,344
Alternative Uses
Best Use
Multifamily LT 5
$364.3K
$318.8K – $425.0K
NOI $25,501 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$324.4K
$283.9K – $378.5K
NOI $22,709 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$589.8K
$516.0K – $688.1K
NOI $41,283 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,286
Businesses Nearby
Explore this area
Business Placement
Demographics for 85014, AZ
26,381
Population
14,778
Households
1.8
Avg Household Size
37
Median Age
43%
College-Educated
90%
High-School Grad
4.0 sq mi
ZIP Area
6,595
Density / Sq Mi
$69,995
Median Household Income
$48,465
Median Earnings
$1,339
Median Rent
$447,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - New construction offers two separately metered rental units with private yards and dedicated parking.
Where is this duplex located?
The property is located at 4132 N 11th St Phoenix, AZ.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 2025‑built duplex totaling approximately 1,947 sq ft; 1,102 sq ft main residence with 2 bedrooms; 845 sq ft second unit with 3 bedrooms
