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$362,000

For Sale - Active
1385 W University Ave Unit 278, Flagstaff, AZ 86001
2 Beds
2 Baths
906 Square Feet
0.02 Acres Lot
Built in 1995
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Jun 20, 2025 at 03:33AM

Investment Summary


Monthly Cash Flow
-$481
Cap Rate
4.1%
Cash-on-Cash Return
-6.9%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-2.7%

Property Description


0.02 Acres Lot
Built in 1995
For Sale - Active
Units n/a

Updated 2nd floor 2BR 2BA Arbors unit overlooking open area with trees, smell the pines, you feel like you are in Flagstaff! Vaulted ceilings. Great location just west of NAU. On bus routes. Newer appliances, washer and dryer. Split plan for easy living. Minutes to downtown and all that Flagstaff has to offer. These units are great rental properties are a very convenient lock and leave summer getaway to get out of the HEAT! One covered parking space, #177, included. There is a clubhouse, business center, hot tub, BBQ grill and fitness center as part of the complex.

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Location


Property Details


Parking

  • Description: Parking Lot
  • Details: Assigned
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: Arbors Condominium
  • HOA Fee: $246/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 11264158
  • Lot Size: 906 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1995

Tax Information

  • Annual Tax: $1,310

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Ceiling
  • Cooling: Other

Location

  • County: Coconino

Listing Details


Listed by:
Karl Stauffer
RealtyONEGroup Mountain Desert
(602) 316-2355

Source:
Arizona Regional Multiple Listing Service (ARMLS)
MLS#: 6854046
Arizona Regional Multiple Listing Service (ARMLS)

Investment Summary


Monthly Cash Flow
-$481
Cap Rate
4.1%
Cash-on-Cash Return
-6.9%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-2.7%

Purchase Details

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Purchase price:
$362,000
Amount financed:
-$289,600
Down payment:
$72,400
Closing costs:
$10,860
Rehab costs:
$0
Initial cash invested:
$83,260
Square feet:
906
Cost per square foot:
$400
Monthly rent per square foot:
$2.54

Financing Details

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Loan amount:
$289,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,713
Property tax:
$109
Insurance:
$161
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,983

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,300 $27,600
Vacancy loss: (6%)
6% -$138 -$1,656
Operating income:
$2,162 $25,944

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$109-$1,310
Insurance: (7%)
7%-$161-$1,932
Property management: (8%)
8%-$184-$2,208
Repairs & maintenance: (5%)
5%-$115-$1,380
Capital expenditures: (5%)
5%-$115-$1,380
HOA fees: (11%)
11%-$246-$2,952
Total operating expenses: (40%)
40%-$930-$11,162

Cash Flow


Monthly Yearly
Net operating income:
$1,232 $14,784
Mortgage payments:
-$1,713 -$20,556
Cash flow:
$481 $5,772