Garden-Level Two-Bedroom Condo with Covered
For Sale
$240,000
950 E Mingus Avenue 412, Cottonwood, AZ 86326
Garden-level corner condo in a gated community with a covered patio and HOA-provided water, trash, roof, and exterior services.
Property Size982 SF
Days on Market32
Property Features for 950 E Mingus Avenue 412
General Information
Standard status
Active
Size
982 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$546
Amenities
community gym
pool
gas fireplace
covered patio
stackable washer & dryer
Building Details
Building Size
982 SF
Year Built
2000
Listing Agency:
Moonlight Property Ventures
(602) 686-3181
Listed By:
Shannon N Klinge · License #BR648700000
(602) 686-3181
Source:
Adobegr
Added: Jul 23
Changed: Aug 22
Last Checked: Aug 22 at 11:14AM
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 Moonlight Property Ventures
Investment Insights
Based on property information with market context.
Located at 950 E Mingus Avenue, Unit 412 in Cottonwood, AZ, this garden-level two-bedroom, two-bath condo is in a gated community and set up as a private corner unit with a covered patio. The layout features a split-master design with many extra closets, and the home shares only one common wall. Bathrooms and vanities are described as having been updated, and the unit includes all four kitchen appliances, plus a unit stackable washer and dryer.
Recent comfort upgrades include a newer AC system and a newer hot water heater. The home also offers fans where it counts and includes a gas fireplace for added warmth, with updated lighting and neutral paint tones.
Residents have access to a community gym and pool across the street, and the exterior has just been painted. The HOA covers water, trash, roof, exterior insurance, landscape, and maintenance. Built in 2000, the location is described as walkable to parks, the library, the post office, cafes, trails, and a rec center.
Recent comfort upgrades include a newer AC system and a newer hot water heater. The home also offers fans where it counts and includes a gas fireplace for added warmth, with updated lighting and neutral paint tones.
Residents have access to a community gym and pool across the street, and the exterior has just been painted. The HOA covers water, trash, roof, exterior insurance, landscape, and maintenance. Built in 2000, the location is described as walkable to parks, the library, the post office, cafes, trails, and a rec center.
Key Highlights
- Private corner, garden‑level condo in a gated community with covered patio
- Only 1 common wall and split‑master layout with many extra closets
- All 4 kitchen appliances included plus unit stackable washer and dryer
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
$10,467
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
4.36%
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%
$209,340
$209.3K
Cap Rate 7%
$149,529
$149.5K
Cap Rate 9%
$116,300
$116.3K
Market Conditions
NOI Build-Up for 982 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
$20.0K $20.40/SF
− Vacancy
−$1.0K −$1.02/SF
EGI
$19.0K $19.38/SF
− OpEx
−$8.6K −$8.72/SF
NOI
$10.5K $10.66/SF
Area
Yavapai County, AZ
Vacancy
5.00%
Lease Rate
$20.40 /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%
$209,340
Cap Rate 7%
$149,529
Cap Rate 9%
$116,300
Alternative Uses
Best Use
Apartment 5plus
$149.5K
$130.8K – $174.5K
NOI $10,467 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$329.0K
$287.9K – $383.8K
NOI $23,028 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
Explore this area
Business Placement
Demographics for 86326, AZ
24,465
Population
12,243
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
91%
High-School Grad
45.5 sq mi
ZIP Area
538
Density / Sq Mi
$58,250
Median Household Income
$36,479
Median Earnings
$1,102
Median Rent
$312,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Garden-level corner condo in a gated community with a covered patio and HOA-provided water, trash, roof, and exterior services.
Where is this residential income property located?
The property is located at 950 E Mingus Avenue 412 Cottonwood, AZ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Private corner, garden‑level condo in a gated community with covered patio; Only 1 common wall and split‑master layout with many extra closets; All 4 kitchen appliances included plus unit stackable washer and dryer
