Two-Unit Duplex
For Sale
$225,000
423 W Gilmore Street, Winslow, AZ 86047
Residential Income, Winslow, AZ
Property Size1,634 SF
Lot Size0.16 Acres
Price / SF$137.70
Days on Market97
Property Features for 423 W Gilmore Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Fencing
Fenced
Appliances
Refrigerators
Directions
I40, exit N Park and head South. Turn right (west) on Gilmore.
Subdivision
20 - Winslow
Standard status
Active
APN
10314119
Size
1,634 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MAHONEY ADDN: LOTS 13 & 14,BLOCK 16 XGR-1; XGR-2
Tax Annual Amount
679
Legal Description
MAHONEY ADDN: LOTS 13 & 14,BLOCK 16 XGR-1; XGR-2
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas
Cooling system
Multi Units, Evaporative Cooling
Building Details
Year built
1935
Number of units
2
Roof type
Rolled Hot Mop, Metal
Listing Agency:
Coldwell Banker Northland · Coldwell Banker Real Estate
(928) 526-5309
Listed By:
Carla M Pavlik · License #SA113641000
(928) 699-7941
Added: Jun 19
Changed: Sep 22
Last Checked: Sep 23 at 2:06AM
MLS# 204988
Copyright © 2026 Northern Arizona Multiple Listing Service. 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 1935, this duplex contains two separate 2-bedroom, 1-bathroom residences with a combined 1,634 square feet of living area. The units are currently occupied by tenants and each includes a refrigerator. The property sits on a 0.16-acre lot with fencing, natural gas heating, and evaporative cooling provided through multiple units. Roofing consists of metal and rolled hot mop materials.
Located at 423 W Gilmore Street in Winslow, Arizona 86047, the property is within Navajo County. Natural gas is available at the property, supporting the existing heating system.
Located at 423 W Gilmore Street in Winslow, Arizona 86047, the property is within Navajo County. Natural gas is available at the property, supporting the existing heating system.
Key Highlights
- Two separate 2‑bedroom, 1‑bathroom units
- 1,634 square feet combined living area
- Both units currently occupied by tenants
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
$12,936
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
5.75%
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%
$258,720
$258.7K
Cap Rate 7%
$184,800
$184.8K
Cap Rate 9%
$143,733
$143.7K
Market Conditions
NOI Build-Up for 1,634 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
$20.0K $12.24/SF
− Vacancy
−$1.5K −$0.93/SF
EGI
$18.5K $11.31/SF
− OpEx
−$5.5K −$3.39/SF
NOI
$12.9K $7.92/SF
Area
Navajo County, AZ
Vacancy
7.60%
Lease Rate
$12.24 /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%
$258,720
Cap Rate 7%
$184,800
Cap Rate 9%
$143,733
Alternative Uses
Best Use
Multifamily LT 5
$184.8K
$161.7K – $215.6K
NOI $12,936 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$164.4K
$143.9K – $191.8K
NOI $11,509 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$444.0K
$388.5K – $518.0K
NOI $31,082 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 86047, AZ
14,168
Population
4,932
Households
2.9
Avg Household Size
36
Median Age
8%
College-Educated
81%
High-School Grad
1,676.3 sq mi
ZIP Area
8
Density / Sq Mi
$50,062
Median Household Income
$29,846
Median Earnings
$875
Median Rent
$113,700
Median Home Value
Check the figures for this property
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 - Two occupied residences offer separate layouts with fenced outdoor space and natural gas service.
Where is this duplex located?
The property is located at 423 W Gilmore Street Winslow, AZ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bathroom units; 1,634 square feet combined living area; Both units currently occupied by tenants
