Furnished Twin Multifamily
For Sale
$222,000
Pending
9414 W GREENWAY Road, Sun City, AZ 85351
Furnishings are included, with carpeted living areas and tile flooring in the kitchen and utility room.
Property Size1,204 SF
Days on Market320
Property Features for 9414 W GREENWAY Road
General Information
Standard status
Pending
Size
1,204 SF
Property subtype
Multi Family
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$731
Building Details
Year Built
1972
Listing Agency:
HomeSmart
(602) 632-4097
Listed By:
Jay Byer · License #SA676097000
(602) 632-4097
Source:
Exitrealty
Added: Oct 17, 2025
Changed: Aug 30
Last Checked: Aug 31 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 HomeSmart
Investment Insights
Based on property information with market context.
This twin-model multifamily property includes furnishings and a practical interior finish package. Carpet extends through the primary living areas, while the kitchen and utility room feature tile flooring. The residence was constructed in 1972 and is located at 9414 W Greenway Road in Sun City, Arizona.
Key Highlights
- Twin‑model multifamily property
- Furnishings included
- Carpet flooring throughout the main living areas
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
$13,588
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
6.12%
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%
$271,760
$271.8K
Cap Rate 7%
$194,114
$194.1K
Cap Rate 9%
$150,978
$151.0K
Market Conditions
NOI Build-Up for 1,204 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
$26.0K $21.60/SF
− Vacancy
−$1.3K −$1.08/SF
EGI
$24.7K $20.52/SF
− OpEx
−$11.1K −$9.23/SF
NOI
$13.6K $11.29/SF
Area
Maricopa County, AZ
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$271,760
Cap Rate 7%
$194,114
Cap Rate 9%
$150,978
Alternative Uses
Best Use
Apartment 5plus
$194.1K
$169.9K – $226.5K
NOI $13,588 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$372.4K
$325.9K – $434.5K
NOI $26,070 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 85351, AZ
29,795
Population
20,414
Households
1.5
Avg Household Size
73
Median Age
24%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
2,733
Density / Sq Mi
$50,812
Median Household Income
$29,786
Median Earnings
$1,477
Median Rent
$250,300
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?
Multifamily property - Furnishings are included, with carpeted living areas and tile flooring in the kitchen and utility room.
Where is this multifamily property located?
The property is located at 9414 W GREENWAY Road Sun City, AZ.
What is the asking price?
The asking price for this property is $222,000.
What are key features of this property?
This property features: Twin‑model multifamily property; Furnishings included; Carpet flooring throughout the main living areas
