2004 Duplex with Two 3BR
For Sale
Contact for pricing
8251 West Mystery Drive, Arizona City, AZ 85123
Two 3-bedroom, 2-bath units offer garages, laundry hookups, and large living spaces within a 2004-built duplex.
Property Size1,920 SF
Price / SF$160.94
Days on Market68
Property Features for 8251 West Mystery Drive
General Information
Standard status
Active
Size
1,920 SF
Class
C
Property subtype
Multifamily
Zoning
Multi Family
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$20,340
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
2004
Year Renovated
2020
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Keller Williams Arizona Realty
Listed By:
Rick Horst · License #SA640657000
Source:
Crexi
Added: Jun 16
Changed: Aug 12
Last Checked: Aug 21 at 11:59AM
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 Keller Williams Arizona Realty
Investment Insights
Based on property information with market context.
This 2004-built duplex features two separate 3-bedroom, 2-bath units. Each unit includes a large living room, an eat-in kitchen, and laundry provisions, along with ceiling fans. The property also offers complete appliance packages for the units, including refrigerators, ranges, and dishwashers, and includes laundry hook-ups. Residents have access to garages, and the property provides plenty of parking, along with large backyards for each unit.
Recent improvements include a new roof installed in 2021. Unit A was refurbished in 2023, and Unit B received new A/C in July 2025. The duplex is presented as a residential income property and is currently configured as two well-defined living spaces.
For buyers seeking a straightforward residential income setup, the property’s two-unit layout, in-unit appliances, and garage/parking amenities support tenant convenience. The duplex configuration and ongoing exterior and mechanical updates provide a practical foundation for managing a two-family rental from one asset.
Recent improvements include a new roof installed in 2021. Unit A was refurbished in 2023, and Unit B received new A/C in July 2025. The duplex is presented as a residential income property and is currently configured as two well-defined living spaces.
For buyers seeking a straightforward residential income setup, the property’s two-unit layout, in-unit appliances, and garage/parking amenities support tenant convenience. The duplex configuration and ongoing exterior and mechanical updates provide a practical foundation for managing a two-family rental from one asset.
Key Highlights
- 2004‑built duplex with two 3‑bedroom, 2‑bath units
- New roof installed in 2021
- Unit B new A/C installed July 2025
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
$16,487
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
5.34%
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%
$329,740
$329.7K
Cap Rate 7%
$235,529
$235.5K
Cap Rate 9%
$183,189
$183.2K
Market Conditions
NOI Build-Up for 1,920 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
$26.5K $13.80/SF
− Vacancy
−$2.9K −$1.53/SF
EGI
$23.6K $12.27/SF
− OpEx
−$7.1K −$3.68/SF
NOI
$16.5K $8.59/SF
Area
Pinal County, AZ
Vacancy
11.11%
Lease Rate
$13.80 /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%
$329,740
Cap Rate 7%
$235,529
Cap Rate 9%
$183,189
Alternative Uses
Best Use
Multifamily LT 5
$235.5K
$206.1K – $274.8K
NOI $16,487 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$215.8K
$188.8K – $251.8K
NOI $15,106 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$530.8K
$464.5K – $619.3K
NOI $37,156 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 85123, AZ
9,965
Population
4,294
Households
2.3
Avg Household Size
44
Median Age
12%
College-Educated
85%
High-School Grad
33.7 sq mi
ZIP Area
296
Density / Sq Mi
$60,610
Median Household Income
$46,944
Median Earnings
$975
Median Rent
$226,000
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 - Two 3-bedroom, 2-bath units offer garages, laundry hookups, and large living spaces within a 2004-built duplex.
Where is this duplex located?
The property is located at 8251 West Mystery Drive Arizona City, AZ.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: 2004‑built duplex with two 3‑bedroom, 2‑bath units; New roof installed in 2021; Unit B new A/C installed July 2025
