Ranch Duplex Income
For Sale
Under Contract
$240,000
4101-4103 N Fremont Avenue, Tucson, AZ 85719
MULTI_FAMILY - Ranch - Tucson, AZ
Property Size1,344 SF
Lot Size0.17 Acres
Price / SF$178.57
Days on Market48
Property Features for 4101-4103 N Fremont Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
4
Window features
Double Pane Windows
Interior features
Built-in Features
Fencing
Chain Link
Appliances
Electric Range, Gas Range, Disposal, Refrigerator
Lot features
Decorative Gravel, North/ South Exposure, Subdivided
Elementary school
Rio Vista
Middle school
Amphitheater
High school
Amphitheater
Elementary school district
Amphitheater
Middle school district
Amphitheater
High school district
Amphitheater
Directions
N 1st Ave and E Limberlost Dr: Head toward N 1st Ave. Turn right onto E Limberlost Dr. Turn right onto N Fremont Ave. Home will be on the right.
Subdivision
Central
Standard status
Active Under Contract
APN
108-20-0300
Size
1,344 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W123' M/L E897.5' S60' N653' Se4 Sw4 .17 Ac Sec 19-13-14
Legal Description
W123' M/L E897.5' S60' N653' Se4 Sw4 .17 Ac Sec 19-13-14
Utilities
Heating system
Forced Air
Cooling system
Evaporative Cooling
Water source
Public
Building Details
Year built
1963
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Brick
Roof type
Built-Up
Architectural style
Ranch
Listing Agency:
OMNI Homes International
(520) 474-1777
Listed By:
Phil Le Peau
(520) 288-0028
Added: Jun 26
Changed: Jul 24
Last Checked: Aug 12 at 1:06AM
MLS# 22615959
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 ranch-style duplex offers two separate units on one lot. Each unit includes an inviting living room with abundant natural light, tile flooring, and fresh paint. The bedroom features a bi-fold closet for storage and organization, and the living space opens to a covered patio. One unit is currently vacant, allowing for straightforward access during showings and providing flexibility for an owner-occupant or tenant placement.
The property is located at 4101-4103 N Fremont Avenue in Tucson, Arizona 85719, in the R2 zoning district. The lot size is approximately 0.17 acres, and the total property size is listed as 1,344 square feet. The listing notes the seller also owns another nearby duplex at 3521-3523 E Lee, which may be available as a packaged deal.
From an operator or buyer standpoint, the configuration supports classic duplex income use with the added convenience of a vacant unit for immediate showing. The interior updates described in the listing—fresh paint and tile flooring—can help reduce near-term turnover friction, while the covered patio provides outdoor living space suited to everyday tenant enjoyment. Buyers seeking a residential income property in an R2 setting may find the duplex layout and current vacancy status particularly practical.
The property is located at 4101-4103 N Fremont Avenue in Tucson, Arizona 85719, in the R2 zoning district. The lot size is approximately 0.17 acres, and the total property size is listed as 1,344 square feet. The listing notes the seller also owns another nearby duplex at 3521-3523 E Lee, which may be available as a packaged deal.
From an operator or buyer standpoint, the configuration supports classic duplex income use with the added convenience of a vacant unit for immediate showing. The interior updates described in the listing—fresh paint and tile flooring—can help reduce near-term turnover friction, while the covered patio provides outdoor living space suited to everyday tenant enjoyment. Buyers seeking a residential income property in an R2 setting may find the duplex layout and current vacancy status particularly practical.
Key Highlights
- Ranch‑style home built in 1963 with brick construction and built‑up roof
- Forced‑air heating with evaporative cooling
- Tile - ceramic flooring and built‑in features
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
$15,060
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
6.28%
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%
$301,200
$301.2K
Cap Rate 7%
$215,143
$215.1K
Cap Rate 9%
$167,333
$167.3K
Market Conditions
NOI Build-Up for 1,344 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
$23.4K $17.40/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$21.5K $16.01/SF
− OpEx
−$6.5K −$4.80/SF
NOI
$15.1K $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%
$301,200
Cap Rate 7%
$215,143
Cap Rate 9%
$167,333
Alternative Uses
Best Use
Multifamily LT 5
$215.1K
$188.3K – $251.0K
NOI $15,060 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,810 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$349.1K
$305.5K – $407.3K
NOI $24,440 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 85719, AZ
46,242
Population
21,707
Households
2.1
Avg Household Size
27
Median Age
46%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
5,780
Density / Sq Mi
$41,086
Median Household Income
$17,430
Median Earnings
$1,051
Median Rent
$266,900
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 - Duplex in Tucson’s R2 zone with a covered patio and interior updates; one unit is currently vacant for easy showing.
Where is this duplex located?
The property is located at 4101-4103 N Fremont Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Ranch‑style home built in 1963 with brick construction and built‑up roof; Forced‑air heating with evaporative cooling; Tile - ceramic flooring and built‑in features
