823 W Clay Ave, Flagstaff, AZ, 86001
About This Home
Exceptional redevelopment opportunity in the heart of Old Town Flagstaff. Positioned on a Highway Commercial-zoned parcel in a high-demand location near NAU, established residential neighborhoods, and key transportation corridors, this property presents a rare opportunity for developers, investors, and builders seeking future density potential in a rapidly evolving area. The primary value lies in the land, zoning flexibility, and ongoing entitlement efforts. Sellers are currently pursuing entitlement pathways that may allow for preservation of the existing residence while adding 5 townhomes, or alternatively redevelopment of the site for up to 8 townhomes (buyer to independently verify zoning, density, entitlements, permitted uses, and municipal approvals). See additional comments... Situated within the area impacted by Flagstaff's continued growth and the evolving Downtown Mile corridor, the property benefits from strong connectivity, proximity to Northern Arizona University, nearby employment centers, and increasing housing demand. The location also offers convenient access to Butler Avenue, Milton Road, and Route 66, supporting both residential and mixed-use potential. The existing 6-bedroom structure is present on site and may provide interim utility; however, the opportunity is best suited for buyers focused on redevelopment, entitlement completion, land value, and long-term investment potential. Opportunities for commercially zoned infill parcels with potential higher-density outcomes in central Flagstaff are increasingly limited, making this a compelling acquisition for those seeking a strategic development position in one of Northern Arizona's strongest markets.
Getting Around
Very Walkable
Good Transit
Biker's ParadiseSchools
Construction
Condition
- Property condition: New Construction
- New construction: Yes
- Year built: 1935
Materials
- Roof: Asphalt
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Laundry features: Laundry Room
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 3
Features
- Eat-in Kitchen,Pantry
- Flooring: Ceramic Tile,Wood
Heating & Cooling
- Heating features: Natural Gas
- Cooling features: Central Air
Interior Area
- Total structure area: 2,422
- Total interior livable area: 2,422 sqft
Property
Details
- Parcel number: 10302004
Features
- Levels: Multi/Split
- Topography of land: Level
Lot
- Lot size: 0.30 Acres
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Lightning
- Winter Weather
- Inland Flooding
- Wildfire
- Cold Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Coconino County and Arizona
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,500 | $54,000 |
| Home Insurance | $179 | $2,148 |
| Property Taxes | $289 | $3,468 |
| Electricity | $256 | $3,077 |
| Total | $5,224 | $62,688 |
Income You'd Need if You Spent...
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-01 | Listed for sale | $890,000 |
| 2026-05-01 | Sold | $645,000 |
| 2025-01-18 | Listing removed | $675,000 |
| 2023-07-27 | Listed for sale | $675,000 |
| 2022-01-01 | Listing removed | -- |
| 2021-12-01 | Price change | $699,000 |
| 2021-11-04 | Price change | $724,000 |
| 2021-07-15 | Listed for sale | $795,000 |
| 2021-05-17 | Listing removed | -- |
| 2020-10-16 | Listed for sale | $799,000 |
| 2014-02-28 | Sold | $225,000 |
| 1996-11-26 | Sold | $155,900 |
| 1996-05-24 | Sold | $100,000 |
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