Triplex Property with Main Home and
For Sale
Contact for pricing
Pending
747 & 749 Paul Drive, Prescott, AZ 86303
Three-unit triplex with no HOA, featuring a main 2 bed home and a duplex totaling nearly 1 acre of outdoor space.
Property Size2,594 SF
Lot Size1.00 Acre
Days on Market31
Property Features for 747 & 749 Paul Drive
General Information
Standard status
Pending
Size
2,594 SF
Lot size
1.00 Acre
Property subtype
Multifamily
Zoning
R1L10
Building Details
Year Built
1951
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
Realty ONE Group Mountain Desert
(702) 885-7756
Listed By:
Marthea Jaffe
Source:
Crexi
Added: Jul 22
Changed: Aug 14
Last Checked: Aug 13 at 4:20PM
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 Realty ONE Group Mountain Desert
Investment Insights
Based on property information with market context.
Triplex property with two structures on one parcel, offering three separate living areas. The main home is a 2 bed, 2 bath layout with 1,344 SF, and the duplex provides two 1 bed, 1 bath units with 625 SF each (total 2,594 SF). Built in 1951, the dwellings include insulated and walkable crawl space under the structure. The main home has newer HVAC with floor vents, and the duplex has vents in the ceiling. Appliances are gas and electric. A covered front porch supports outdoor living on the nearly 1-acre site, with no HOA.
Located at 747 & 749 Paul Drive in Prescott, the property is about 2 miles from Historic Downtown Prescott, Courthouse Square, and Whiskey Row. The multi-unit setup supports both owner-occupant living and rental income.
With separate living areas on a single parcel, the configuration can work for a primary resident seeking additional rental space while keeping outdoor room for everyday use and future possibilities.
Located at 747 & 749 Paul Drive in Prescott, the property is about 2 miles from Historic Downtown Prescott, Courthouse Square, and Whiskey Row. The multi-unit setup supports both owner-occupant living and rental income.
With separate living areas on a single parcel, the configuration can work for a primary resident seeking additional rental space while keeping outdoor room for everyday use and future possibilities.
Key Highlights
- Two structures with three separate living areas on one parcel
- Main home: 2 bed, 2 bath, 1,344 SF with newer HVAC and floor vents
- Duplex: two 1 bed, 1 bath units, 625 SF each (total 2,594 SF)
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
$29,699
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
4.75%
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%
$593,980
$594.0K
Cap Rate 7%
$424,271
$424.3K
Cap Rate 9%
$329,989
$330.0K
Market Conditions
NOI Build-Up for 2,594 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
$45.1K $17.40/SF
− Vacancy
−$2.7K −$1.04/SF
EGI
$42.4K $16.36/SF
− OpEx
−$12.7K −$4.91/SF
NOI
$29.7K $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%
$593,980
Cap Rate 7%
$424,271
Cap Rate 9%
$329,989
Alternative Uses
Best Use
Multifamily LT 5
$424.3K
$371.2K – $495.0K
NOI $29,699 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$395.0K
$345.6K – $460.8K
NOI $27,649 @ 7.0% cap · market cap 4.42%
Theoretical Best
Warehouse
$869.0K
$760.4K – $1.01M
NOI $60,829 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
109
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 triplex with no HOA, featuring a main 2 bed home and a duplex totaling nearly 1 acre of outdoor space.
Where is this triplex located?
The property is located at 747 & 749 Paul Drive Prescott, AZ.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Two structures with three separate living areas on one parcel; Main home: 2 bed, 2 bath, 1,344 SF with newer HVAC and floor vents; Duplex: two 1 bed, 1 bath units, 625 SF each (total 2,594 SF)
