Arizona Duplex Homes for Sale

Gearing up to buy or sell a duplex home soon in Arizona? Call Patrick O'Sullivan at (602) 842-5050. Your Arizona realty team is here to help navigate the Arizona real estate market.

Duplex Homes for sale in Arizona

Arizona has a prolific real estate market in all of its major cities and surrounding areas. There has been an explosion of growth in Arizona in recent years due to so many perks being offered to residents. Some include quality of life, job opportunities, and housing options. Duplexes have a large portion of the real estate market in Arizona.

What is a Duplex?

A duplex is a multi-family property containing two units under one roof. They often resemble townhomes, but duplexes are just two units.

Arizona Duplex Real Estate Market

Arizona has a lot of options when it comes to purchasing a duplex in any major city or surrounding area. Prices for Arizona duplexes range from $60,000 to $3 million, depending on the size and age of the property. There are also plenty of opportunities to purchase a vacant lot that is ready for construction.

Duplexes Throughout Arizona

As with most major cities, you can easily find duplexes in places like Pheonix, Tempe, and Goodyear, but there are plenty of smaller cities and towns if big city life isn’t for you. While there will naturally be more opportunities for housing and jobs in the bigger cities, Arizona as a whole is a great place to relocate.

Why Buy a Duplex?

If you’re in the market for purchasing your first home or a new home, consider purchasing a duplex. Given that there are many budget-friendly options, a duplex is a sound investment that can get you in the door of real estate investing. Especially in Arizona, where there is a wide range of prices for duplexes, there is a property for every budget. As a homeowner, purchasing a duplex can be around the same price as a single-family home but can have several perks. Not only can you supplement your mortgage by having some rental income, but you can also get different mortgage options that provide interest rate savings and sometimes even relieve the need for a down payment. If you’re not keen on the idea of becoming a landlord, you can always rent out one unit to family and live in the other. If you’re ready to take on the role of a property manager, you can find a tenant to take over that space. Owning a duplex affords you some options that single-family homeowners don’t have. You have the option to rent it to whomever you like, you can help out friends and family comfortably in times of need, or you can rent out both units and be well on your way to becoming a seasoned pro. Having a duplex allows you a bit more freedom. Suppose you have a family member who needs a little more care and help in their daily life. A duplex would be an ideal solution for you because it allows you to be close yet maintain your privacy with separate units. Regardless of why you’re in the market for a duplex, there are plenty of great reasons to consider purchasing one. If you’re looking for a duplex in Arizona, you’ll want to take a look at some of the fantastic options on the market.

Financing a Duplex

Househunting is always the most exciting part of purchasing a new home, but educating yourself on the process of financing a duplex can take a little bit of research and work. Buying a single-family home is a bit more straightforward, but the benefit of buying a duplex in Arizona is that you have a few more options. If you have cash on hand to purchase a duplex outright, then you don’t have to worry about which financing route you’re going to take. However, most buyers are going to need a mortgage to get their new home, and there are a few different ways to get to your destination.

Suppose you’re ready to be a landlord and you’re looking to purchase your duplex as an investment property. In that case, you will need to seek out a traditional mortgage through your bank or lender. Since investment properties are a higher risk, you’ll likely need top-notch credit and a sizable down payment to qualify for traditional financing. One of the perks is using the estimated future rental income towards your chances for approval.

If you plan to live in one of the units and rent out the other, you can apply for an owner-occupier mortgage. This loan is through the FHA, and it offers buyers many incentives for taking advantage of it. The FHA doesn’t require a large down payment, and it has more relaxed rules for approval. Given the name, you must reside in one of the units to qualify for this mortgage.

The last option for financing a duplex in Arizona is the VA mortgage. If you are a current or former member of the US military, you can apply for a VA loan. The loan doesn’t require a down payment and offers low-interest rates, and it also is more relaxed in terms of requirements. To qualify for this loan, you must reside in one of the units.

Why Buy & Sell Duplex Homes With getMULTIfamily.com

GetMultiFamily.com is the best way to purchase or sell a multi-family home in Arizona. Our network of buyers, sellers, and clients makes your transaction seamless and stress-free. Our team specializes in the multi-family home market and can help you buy or sell your Arizona duplex today. The Cap Core Real Estate Group helps all our clients find their dream property. Launched by Patrick O’Sullivan, the impressive Cap Core team is ready to handle all your real estate needs. With his previous experience as the real estate advisor for U-Haul, Patrick knows what it takes to be successful and provide an excellent customer experience. He’s also award-winning, having received the Agent of the Year and the CCMI (Certified Commercial Investment Member) designation. If you’re looking for your next Arizona investment property with a multi-family home, trust the GetMultiFamily.com team today.

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