Ranch
For Sale
$312,000
2001 S 3rd Avenue, Tucson, AZ 85713
Residential Income, Ranch, Tucson, AZ
Property Size1,565 SF
Lot Size0.16 Acres
Price / SF$199.36
Days on Market141
Property Features for 2001 S 3rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
South Tucson - SR1
Parking
6
Parking features
RV
Fencing
Chain Link
Appliances
Gas Range, Refrigerator
Subdivision
Homeland
Lot features
Corner Lot, North/ South Exposure, Subdivided
Elementary school
Holladay
Middle school
Utterback-Magnet
High school
Pueblo
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
From 4th Av, S to 30th St, E to 3rd Av, corner of 30th and 3rd Av
Standard status
Active
APN
118-26-0820
Size
1,565 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:001010010 /Homeland Lot 13 Blk 3
Legal Description
From Parcel:001010010 /Homeland Lot 13 Blk 3
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1972
Number of units
2
Flooring type
Tile - Ceramic, Concrete
Building materials
Brick
Roof type
Built-Up
Architectural style
Ranch
Listing Agency:
Keller Williams Southern Arizona · Keller Williams Realty
(520) 615-8400
Listed By:
Kimberly Maisto · License #SA684526000
(520) 270-3939
Added: Apr 19
Changed: Aug 19
Last Checked: Sep 6 at 7:06AM
MLS# 22610197
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 single-story duplex contains 1,565 square feet on a 6,970-square-foot lot. The ranch-style property includes two adjoining units, allowing an owner to occupy one side while improving the other. Existing features include brick construction, ceramic tile and concrete flooring, central air, forced-air heating powered by natural gas, and a built-up roof. Gas range and refrigerator appliances are included, while RV parking and chain-link fencing add functional site features.
Built in 1972, the property is located at 2001 S 3rd Avenue in Tucson’s South Tucson SR1 zoning area. Shopping, local markets, schools, and parks are described as accessible nearby, with dining, grocery, and retail options along S 6th Avenue within minutes. The property also offers access to major roadways and everyday services within walking distance.
Built in 1972, the property is located at 2001 S 3rd Avenue in Tucson’s South Tucson SR1 zoning area. Shopping, local markets, schools, and parks are described as accessible nearby, with dining, grocery, and retail options along S 6th Avenue within minutes. The property also offers access to major roadways and everyday services within walking distance.
Key Highlights
- Duplex with 1,565 sq ft of building area on a 6,970 sq ft lot
- 0.16 acres in South Tucson - SR1 zoning
- Single‑story ranch design with brick construction
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
$15,481
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
4.96%
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%
$309,620
$309.6K
Cap Rate 7%
$221,157
$221.2K
Cap Rate 9%
$172,011
$172.0K
Market Conditions
NOI Build-Up for 1,565 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
$24.0K $15.36/SF
− Vacancy
−$1.9K −$1.23/SF
EGI
$22.1K $14.13/SF
− OpEx
−$6.6K −$4.24/SF
NOI
$15.5K $9.89/SF
Area
ZIP 85713
Vacancy
8.00%
Lease Rate
$15.36 /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%
$309,620
Cap Rate 7%
$221,157
Cap Rate 9%
$172,011
Alternative Uses
Best Use
Multifamily LT 5
$221.2K
$193.5K – $258.0K
NOI $15,481 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.1K
NOI $14,284 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$383.1K
$335.2K – $447.0K
NOI $26,818 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 85713, AZ
46,810
Population
19,056
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
79%
High-School Grad
23.8 sq mi
ZIP Area
1,967
Density / Sq Mi
$50,264
Median Household Income
$32,302
Median Earnings
$1,017
Median Rent
$171,700
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-unit property with one adjoining unit suited to renovation and multi-generational use.
Where is this duplex located?
The property is located at 2001 S 3rd Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $312,000.
What are key features of this property?
This property features: Duplex with 1,565 sq ft of building area on a 6,970 sq ft lot; 0.16 acres in South Tucson - SR1 zoning; Single‑story ranch design with brick construction
