Renovated Triplex Near Town
For Sale
$699,999
609 E Goodwin St, Prescott, AZ 86303
Three-unit property with renovated units and month-to-month occupancy.
Property Size2,385 SF
Price / SF$293.50
Days on Market36
Property Features for 609 E Goodwin St
General Information
Standard status
Active
Size
2,385 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1990
Listing Agency:
Far West Realty
(928) 710-0728
Listed By:
Alice Kurtz
Source:
Thebergaminigroup
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 30 at 7:01PM
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 Far West Realty
Investment Insights
Based on property information with market context.
This triplex contains 2,385 square feet across three units, including a main house and two additional residences. The units have been fully renovated, and the property was built in 1990. Current tenants occupy the units on month-to-month arrangements.
Located in town with access to the square, the property also has COP approval. The three-unit configuration supports an arrangement in which an owner occupies one residence while leasing the other two, as supported by the existing layout.
Located in town with access to the square, the property also has COP approval. The three-unit configuration supports an arrangement in which an owner occupies one residence while leasing the other two, as supported by the existing layout.
Key Highlights
- Three‑unit triplex with 2,385 SF
- Fully renovated units
- Main house plus two additional units
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
$27,306
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
3.90%
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%
$546,120
$546.1K
Cap Rate 7%
$390,086
$390.1K
Cap Rate 9%
$303,400
$303.4K
Market Conditions
NOI Build-Up for 2,385 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
$41.5K $17.40/SF
− Vacancy
−$2.5K −$1.04/SF
EGI
$39.0K $16.36/SF
− OpEx
−$11.7K −$4.91/SF
NOI
$27.3K $11.45/SF
Area
Yavapai County, AZ
Vacancy
6.00%
Lease Rate
$17.40 /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%
$546,120
Cap Rate 7%
$390,086
Cap Rate 9%
$303,400
Alternative Uses
Best Use
Multifamily LT 5
$390.1K
$341.3K – $455.1K
NOI $27,306 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$363.2K
$317.8K – $423.7K
NOI $25,422 @ 7.0% cap · market cap 3.63%
Theoretical Best
Warehouse
$799.0K
$699.1K – $932.1K
NOI $55,928 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 86303, AZ
18,201
Population
12,255
Households
1.5
Avg Household Size
61
Median Age
41%
College-Educated
96%
High-School Grad
107.2 sq mi
ZIP Area
170
Density / Sq Mi
$68,656
Median Household Income
$44,428
Median Earnings
$1,309
Median Rent
$502,400
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?
Triplex - Three-unit property with renovated units and month-to-month occupancy.
Where is this triplex located?
The property is located at 609 E Goodwin St Prescott, AZ.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Three‑unit triplex with 2,385 SF; Fully renovated units; Main house plus two additional units
