Two-Unit Duplex with On-Site
For Sale
$495,000
802 W Roosevelt Street, Phoenix, AZ 85007
Built in 1930, the duplex offers two 2-bed, 1-bath units with on-site laundry on an R-5 zoned lot.
Property Size1,500 SF
Lot Size0.21 Acres
Price / SF$330
Days on Market37
Property Features for 802 W Roosevelt Street
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.21 Acres
Property subtype
Multi Family Home
Zoning
R-5
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,686
Building Details
Year Built
1930
Buildings
1
Units
2
Listing Agency:
ABI Multifamily
(602) 714-1353
Listed By:
Colin Kreager · License #SA693849000
(602) 714-1353
Source:
Sunhaven-realestate
Added: Jul 21
Changed: Aug 25
Last Checked: Aug 14 at 7:43AM
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 ABI Multifamily
Investment Insights
Based on property information with market context.
Built in 1930, 802 W Roosevelt St is a two-unit duplex featuring two well-maintained 2-bed, 1-bath residences. Each unit is approximately 750 square feet, and the property includes on-site laundry for added day-to-day convenience.
Located right off the Roosevelt Row Arts District in Central Phoenix’s Triangle District, the property is described as highly walkable and in a revitalized area. The remarks note proximity to Downtown Phoenix, Roosevelt Row, ASU Downtown, and easy access to the I-10 & I-17 freeways.
The duplex sits on a 0.205-acre R-5 zoned lot. It is presented as suitable for an owner-occupant, short- or mid-term rental operator, or traditional multifamily use, depending on the purchaser’s objectives.
Located right off the Roosevelt Row Arts District in Central Phoenix’s Triangle District, the property is described as highly walkable and in a revitalized area. The remarks note proximity to Downtown Phoenix, Roosevelt Row, ASU Downtown, and easy access to the I-10 & I-17 freeways.
The duplex sits on a 0.205-acre R-5 zoned lot. It is presented as suitable for an owner-occupant, short- or mid-term rental operator, or traditional multifamily use, depending on the purchaser’s objectives.
Key Highlights
- Built in 1930 duplex in Central Phoenix with 2 total units
- Two 2‑bed, 1‑bath units, each approximately 750 SF
- R‑5 zoned 0.205‑acre lot with future upside potential
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
$19,647
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
3.97%
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%
$392,940
$392.9K
Cap Rate 7%
$280,671
$280.7K
Cap Rate 9%
$218,300
$218.3K
Market Conditions
NOI Build-Up for 1,500 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
$29.7K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$28.1K $18.71/SF
− OpEx
−$8.4K −$5.61/SF
NOI
$19.6K $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%
$392,940
Cap Rate 7%
$280,671
Cap Rate 9%
$218,300
Alternative Uses
Best Use
Multifamily LT 5
$280.7K
$245.6K – $327.5K
NOI $19,647 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$249.9K
$218.7K – $291.6K
NOI $17,495 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$454.4K
$397.6K – $530.1K
NOI $31,805 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,845
Businesses Nearby
Explore this area
Business Placement
Demographics for 85007, AZ
14,442
Population
5,981
Households
2.4
Avg Household Size
36
Median Age
27%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
3,140
Density / Sq Mi
$55,833
Median Household Income
$43,375
Median Earnings
$1,079
Median Rent
$447,000
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?
Duplex - Built in 1930, the duplex offers two 2-bed, 1-bath units with on-site laundry on an R-5 zoned lot.
Where is this duplex located?
The property is located at 802 W Roosevelt Street Phoenix, AZ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Built in 1930 duplex in Central Phoenix with 2 total units; Two 2‑bed, 1‑bath units, each approximately 750 SF; R‑5 zoned 0.205‑acre lot with future upside potential
