Newly Built
For Sale
$410,000
2065 W Ajo Way, Tucson, AZ 85713
Residential Income, Southwestern, Tucson, AZ
Property Size1,879 SF
Lot Size0.26 Acres
Price / SF$218.20
Days on Market56
Property Features for 2065 W Ajo Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Tucson - R1
Appliances
Electric Range, Dishwasher
Subdivision
Probasco Addition NO. 2
Lot features
North/ South Exposure
Elementary school
Lynn
Middle school
Valencia
High school
Pueblo
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Ajo Way/Mission Road, East of light on south side of street.
Standard status
Active
APN
119411550
Size
1,879 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:001010010 /Probasco No 2 Lot 12 Blk 1
Legal Description
From Parcel:001010010 /Probasco No 2 Lot 12 Blk 1
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2025
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Frame - Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Tierra Antigua Realty
(520) 544-2335
Listed By:
Jose Campillo
(520) 979-2267
Added: Jul 15
Changed: Sep 5
Last Checked: Sep 8 at 7:06AM
MLS# 22617507
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 duplex is under construction and includes 1,879 square feet across two separate residences. One unit provides 3 bedrooms and 2 bathrooms, while the second offers 2 bedrooms and 1 bathroom. Both homes feature ceramic tile flooring, frame-and-stucco construction, tile roofing, heat-pump heating, central air, and ceiling fans. Electric ranges and dishwashers are included, and each residence has separate electric and water metering.
The property occupies a 0.26-acre lot in Tucson, Arizona, with access to public water. Its location near I-10 provides a direct connection to the surrounding area, including shopping, dining, and schools. The property is designated Tucson - R1 and carries a 2025 year built designation.
The property occupies a 0.26-acre lot in Tucson, Arizona, with access to public water. Its location near I-10 provides a direct connection to the surrounding area, including shopping, dining, and schools. The property is designated Tucson - R1 and carries a 2025 year built designation.
Key Highlights
- Two‑unit duplex totaling 1,879 square feet
- 3‑bedroom, 2‑bath unit paired with a 2‑bedroom, 1‑bath unit
- Separate electric and water meters for each residence
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
$18,587
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
4.53%
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%
$371,740
$371.7K
Cap Rate 7%
$265,529
$265.5K
Cap Rate 9%
$206,522
$206.5K
Market Conditions
NOI Build-Up for 1,879 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
$28.9K $15.36/SF
− Vacancy
−$2.3K −$1.23/SF
EGI
$26.6K $14.13/SF
− OpEx
−$8.0K −$4.24/SF
NOI
$18.6K $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%
$371,740
Cap Rate 7%
$265,529
Cap Rate 9%
$206,522
Alternative Uses
Best Use
Multifamily LT 5
$265.5K
$232.3K – $309.8K
NOI $18,587 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$245.0K
$214.4K – $285.8K
NOI $17,149 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$460.0K
$402.5K – $536.7K
NOI $32,199 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
133
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 separately metered residences with distinct bedroom and bathroom layouts near I-10.
Where is this duplex located?
The property is located at 2065 W Ajo Way Tucson, AZ.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,879 square feet; 3‑bedroom, 2‑bath unit paired with a 2‑bedroom, 1‑bath unit; Separate electric and water meters for each residence
