4-Bedroom Duplex with Separate
For Sale
Under Contract
$400,000
102 E Elm Street, Tucson, AZ 85705
Residential Income, Contemporary, Modern, Tucson, AZ
Property Size1,870 SF
Lot Size0.16 Acres
Price / SF$213.90
Days on Market120
Property Features for 102 E Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
6
Parking features
RV
Window features
Skylight(s), Double Pane Windows
Interior features
Built-in Features
Appliances
Electric Range, Dishwasher, Disposal, Refrigerator
Subdivision
Bronx Park Addition
Lot features
Decorative Gravel, Corner Lot, North/ South Exposure, Subdivided
Elementary school
Cragin
Middle school
Doolen
High school
Tucson
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Grant Rd & Stone Ave Head south on N Stone Ave, Turn left onto E Elm St. The property will be on the right.
Standard status
Active Under Contract
APN
115-07-152B
Size
1,870 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Bronx Park Lot 1 Blk 48
Legal Description
Bronx Park Lot 1 Blk 48
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
fireplace
carports
laundry room
yard
Building Details
Year built
1980
Number of units
2
Flooring type
Tile - Ceramic, Vinyl
Building materials
Frame - Stucco
Roof type
Shingle
Architectural style
Contemporary, Modern
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 314-3255
Listed By:
Michael Martinez
Added: Apr 25
Changed: Aug 19
Last Checked: Aug 22 at 11:06AM
MLS# 22610793
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 property is a contemporary, modern 4-bedroom duplex on a fully fenced corner lot. The duplex provides two separate units, and each unit includes 2 bedrooms, 1 bathroom, and a full laundry room. Interior features noted include a living room with recessed lighting and a fireplace, along with custom closets in the bedrooms. Each unit also has a kitchen with quartz counters, ample cabinetry, stainless steel appliances, a pantry, and a layout designed for comfortable everyday living.
Located in Tucson, AZ 85705 in an R2 zoning area, the home is set up for straightforward separate occupancy. The property includes carports for secure parking and outdoor space, with each unit having its own yard. The arrangement of yards and shared fencing supports practical separation between tenants or households.
For owner-occupants or investors seeking flexibility, the separately metered setup supports independent utility responsibility for each unit. The presence of in-unit laundry rooms, private outdoor space, and carports can be attractive to tenants who value convenience and day-to-day functionality. With two self-contained units and distinct amenities, this duplex can suit buyers looking for a manageable residential income configuration.
Located in Tucson, AZ 85705 in an R2 zoning area, the home is set up for straightforward separate occupancy. The property includes carports for secure parking and outdoor space, with each unit having its own yard. The arrangement of yards and shared fencing supports practical separation between tenants or households.
For owner-occupants or investors seeking flexibility, the separately metered setup supports independent utility responsibility for each unit. The presence of in-unit laundry rooms, private outdoor space, and carports can be attractive to tenants who value convenience and day-to-day functionality. With two self-contained units and distinct amenities, this duplex can suit buyers looking for a manageable residential income configuration.
Key Highlights
- Duplex with 4 total bedrooms (2 bedrooms per unit) and 1 bathroom per unit
- Fully‑fenced corner lot with separately metered units
- Each unit includes a full laundry room and a dedicated yard
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
Yes
Fenced yard
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 - Fully fenced corner lot duplex with separately metered units, in-unit laundry, and private yards for flexible occupancy.
Where is this duplex located?
The property is located at 102 E Elm Street 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: Duplex with 4 total bedrooms (2 bedrooms per unit) and 1 bathroom per unit; Fully‑fenced corner lot with separately metered units; Each unit includes a full laundry room and a dedicated yard
