4-Bedroom Duplex with
For Sale
$400,000
Pending
102 E Elm St, Tucson, AZ 85705
Separately metered units feature quartz kitchens, private yards, laundry rooms, and fireplaces.
Property Size1,870 SF
Days on Market153
Property Features for 102 E Elm St
General Information
Standard status
Pending
Size
1,870 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Realty Executives Arizona Territory
(520) 971-3475
Listed By:
Michael Martinez
Source:
Seetucsonhouses
Added: Apr 1
Changed: Aug 29
Last Checked: Aug 25 at 7:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
Built in 1980, this 1870 SF duplex contains two separately metered units, each arranged with 2 bedrooms, 1 bathroom, and a full laundry room. Both residences include living rooms with recessed lighting and fireplaces, along with kitchens fitted with quartz countertops, stainless steel appliances, ample cabinetry, and pantries. Custom closets serve the bedrooms.
The property occupies a fully fenced corner lot at 102 E Elm St in Tucson, AZ 85705. Each unit has its own yard, while on-site carports provide covered parking. The layout supports separate residential occupancy within one two-unit property.
The property occupies a fully fenced corner lot at 102 E Elm St in Tucson, AZ 85705. Each unit has its own yard, while on-site carports provide covered parking. The layout supports separate residential occupancy within one two-unit property.
Key Highlights
- 1870 SF duplex built in 1980
- Two separately metered units, each with 2 bedrooms and 1 bathroom
- Full laundry room in each unit
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
$18,064
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
4.52%
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%
$361,280
$361.3K
Cap Rate 7%
$258,057
$258.1K
Cap Rate 9%
$200,711
$200.7K
Market Conditions
NOI Build-Up for 1,870 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
$28.1K $15.00/SF
− Vacancy
−$2.2K −$1.20/SF
EGI
$25.8K $13.80/SF
− OpEx
−$7.7K −$4.14/SF
NOI
$18.1K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /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%
$361,280
Cap Rate 7%
$258,057
Cap Rate 9%
$200,711
Alternative Uses
Best Use
Multifamily LT 5
$258.1K
$225.8K – $301.1K
NOI $18,064 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$234.1K
$204.9K – $273.2K
NOI $16,389 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$430.3K
$376.5K – $502.0K
NOI $30,122 @ 7.0% cap · market cap 7.53%
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
1,157
Businesses Nearby
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
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 - Separately metered units feature quartz kitchens, private yards, laundry rooms, and fireplaces.
Where is this duplex located?
The property is located at 102 E Elm St Tucson, AZ.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1870 SF duplex built in 1980; Two separately metered units, each with 2 bedrooms and 1 bathroom; Full laundry room in each unit
