Occupied Duplex with Fenced
New
For Sale
$249,000
1339 N Howard Boulevard, Tucson, AZ 85716
MULTI_FAMILY - Other - Tucson, AZ
Property Size1,224 SF
Lot Size0.21 Acres
Price / SF$203.43
Days on Market2
Property Features for 1339 N Howard Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
2
Interior features
Beamed Ceilings
Fencing
Chain Link
Appliances
Gas Range, Refrigerator
Subdivision
Jones Addition
Lot features
East/ West Exposure, Subdivided
Elementary school
Wright
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
From Speedway/Country Club, go East on Speedway to Howard. Make a left and follow Howard to the property on your left.
Standard status
Active
APN
122-17-3190
Size
1,224 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:001010010 /Jones S75' N150' Lot 10 Blk 6
Legal Description
From Parcel:001010010 /Jones S75' N150' Lot 10 Blk 6
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
AC cooling
ceiling fans
wood beam ceilings
ceramic tile flooring
stove
refrigerator
microwave
stack washer and dryer
fenced backyard
off-street parking
Building Details
Year built
1947
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Burnt Adobe, Brick
Roof type
Rolled Hot Mop
Architectural style
Other
Listing Agency:
Grijalva Realty Corp.
(520) 325-1574
Listed By:
Eduardo A Garcia
(520) 325-1574
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 8:06PM
MLS# 22619559
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1947 duplex contains 1,224 square feet across two occupied units. Both residences feature central air conditioning, ceiling fans, beamed ceilings, ceramic tile flooring, and kitchens equipped with a gas range, refrigerator, and microwave. Each unit also includes a stacked washer and dryer, a fenced backyard, and off-street parking. Burnt adobe and brick construction, forced-air heating, public water, and a rolled hot-mop roof complete the property improvements.
Located at 1339 N Howard Boulevard in Tucson, the property sits on a 0.21-acre lot and is approximately a 10-minute drive from the University of Arizona. The property is zoned Tucson - R2. Tenants pay their own gas and electric service. Showings are available with an accepted offer, and both units are currently occupied.
Located at 1339 N Howard Boulevard in Tucson, the property sits on a 0.21-acre lot and is approximately a 10-minute drive from the University of Arizona. The property is zoned Tucson - R2. Tenants pay their own gas and electric service. Showings are available with an accepted offer, and both units are currently occupied.
Key Highlights
- Two‑unit property with 1,224 square feet on a 0.21‑acre lot
- Both units are occupied and include central air conditioning
- Each unit has a fenced backyard and off‑street parking
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
$13,716
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
5.51%
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%
$274,320
$274.3K
Cap Rate 7%
$195,943
$195.9K
Cap Rate 9%
$152,400
$152.4K
Market Conditions
NOI Build-Up for 1,224 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
$21.3K $17.40/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$19.6K $16.01/SF
− OpEx
−$5.9K −$4.80/SF
NOI
$13.7K $11.21/SF
Area
Tucson, AZ
Vacancy
8.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$274,320
Cap Rate 7%
$195,943
Cap Rate 9%
$152,400
Alternative Uses
Best Use
Multifamily LT 5
$195.9K
$171.5K – $228.6K
NOI $13,716 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$179.7K
$157.2K – $209.6K
NOI $12,577 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$318.0K
$278.2K – $371.0K
NOI $22,258 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
794
Businesses Nearby
Explore this area
Business Placement
Demographics for 85716, AZ
31,521
Population
19,025
Households
1.7
Avg Household Size
39
Median Age
42%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
4,378
Density / Sq Mi
$47,009
Median Household Income
$33,367
Median Earnings
$1,021
Median Rent
$300,900
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?
Duplex - Two occupied units offer central air, tile flooring, full kitchen appliances, laundry equipment, and separate fenced outdoor areas.
Where is this duplex located?
The property is located at 1339 N Howard Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit property with 1,224 square feet on a 0.21‑acre lot; Both units are occupied and include central air conditioning; Each unit has a fenced backyard and off‑street parking
