Modern Duplex With Separate
For Sale
$675,000
307 S Grande Avenue, Tucson, AZ 85745
Residential Income, Contemporary, Modern, Tucson, AZ
Property Size2,238 SF
Lot Size0.20 Acres
Price / SF$301.61
Days on Market95
Property Features for 307 S Grande Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
4
Security features
Security Lighting
Patio and Porch features
Patio
Interior features
Grey-Water Lines, Walk-In Closet(s)
Exterior features
Built-in Barbecue
Fencing
Chain Link
Appliances
Double Sink, Gas Range, Lazy Susan, Water Purifier, Dishwasher, Disposal, Refrigerator
Lot features
Decorative Gravel, East/ West Exposure
Elementary school
Maxwell K-8
Middle school
Maxwell K-8
High school
Cholla
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
In Front of A Mountain on Grande between Congress & Mission. 3 blocks W of I-10. Subdivision Barrio Sin Nombre kiddy corner to Mercado district.
Subdivision
West
Standard status
Active
APN
116-21-3410
Size
2,238 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N50' S445' M/L PTN LOT 5 LYG E GRANDE AVE .18 AC SEC 14-14-13
Legal Description
N50' S445' M/L PTN LOT 5 LYG E GRANDE AVE .18 AC SEC 14-14-13
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2018
Number of units
2
Flooring type
Concrete
Building materials
Frame - Stucco, Masonry Stucco
Roof type
Shingle, Metal
Architectural style
Modern, Contemporary
Additional Structures
Gazebo
Listing Agency:
Real Broker
(602) 755-3415
Listed By:
Alicia Marie Pastore
(855) 450-0442
Added: May 29
Changed: Aug 23
Last Checked: Aug 31 at 5:06AM
MLS# 22613620
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 2018 duplex property contains a 3-bedroom, 2-bath main home and a separate 2-bedroom, 1-bath residence on one 0.2-acre lot. The 2,238-square-foot property features modern and contemporary architecture, frame and masonry stucco construction, concrete flooring, shingle and metal roofing, central air, ceiling fans, and natural gas and heat-pump heating. Interior amenities include grey-water lines, walk-in closet space, a gas range, dishwasher, refrigerator, disposal, water purifier, and double sink. Each residence contributes to a flexible setup for multigenerational living, guests, or rental use.
The property is located at 307 S Grande Avenue in Tucson, near San Agustin Mercado and The Annex. Downtown Tucson, Fourth Avenue, and the University of Arizona are a short drive away. The surrounding setting also provides access to hiking and views of “A” Mountain. Public water, patios, chain-link fencing, and a built-in barbecue complete the improvements.
The property is located at 307 S Grande Avenue in Tucson, near San Agustin Mercado and The Annex. Downtown Tucson, Fourth Avenue, and the University of Arizona are a short drive away. The surrounding setting also provides access to hiking and views of “A” Mountain. Public water, patios, chain-link fencing, and a built-in barbecue complete the improvements.
Key Highlights
- Two residences on one 0.2‑acre lot
- 3‑bedroom, 2‑bath main home plus separate 2‑bedroom, 1‑bath residence
- 2,238 square feet; built in 2018
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
$25,078
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
3.72%
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%
$501,560
$501.6K
Cap Rate 7%
$358,257
$358.3K
Cap Rate 9%
$278,644
$278.6K
Market Conditions
NOI Build-Up for 2,238 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
$38.9K $17.40/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$35.8K $16.01/SF
− OpEx
−$10.7K −$4.80/SF
NOI
$25.1K $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%
$501,560
Cap Rate 7%
$358,257
Cap Rate 9%
$278,644
Alternative Uses
Best Use
Multifamily LT 5
$358.3K
$313.5K – $418.0K
NOI $25,078 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$328.5K
$287.5K – $383.3K
NOI $22,996 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$581.4K
$508.7K – $678.3K
NOI $40,697 @ 7.0% cap · market cap 6.03%
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
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 85745, AZ
36,774
Population
17,662
Households
2.1
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
47.0 sq mi
ZIP Area
782
Density / Sq Mi
$68,608
Median Household Income
$40,353
Median Earnings
$1,128
Median Rent
$324,100
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 dwellings share one lot with patios, central air, contemporary design, and R2 zoning.
Where is this duplex located?
The property is located at 307 S Grande Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two residences on one 0.2‑acre lot; 3‑bedroom, 2‑bath main home plus separate 2‑bedroom, 1‑bath residence; 2,238 square feet; built in 2018
