Two-Unit Duplex with Fenced
For Sale
$249,000
Pending
1339-1345 N Howard Blvd, Tucson, AZ 85716
Both units offer private outdoor space, appliances, cooling, and off-street parking.
Property Size1,224 SF
Days on Market23
Property Features for 1339-1345 N Howard Blvd
General Information
Standard status
Pending
Size
1,224 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
AC cooling
ceiling fans
wood beam ceilings
ceramic tile flooring
stove
refrigerator
microwave
stack washer and dryer
fenced backyard
off-street parking
Building Details
Year Built
1947
Buildings
1
Tenancy
Multi
Listing Agency:
Grijalva Realty Corp.
(520) 325-1574
Listed By:
Eduardo A Garcia · License #25632
Source:
Exploretucsonproperties
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 25 at 6:13AM
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 Grijalva Realty Corp.
Investment Insights
Based on property information with market context.
Built in 1947, this duplex contains two occupied units totaling 1,224 square feet. Each residence includes AC cooling, ceiling fans, wood beam ceilings, and ceramic tile flooring. Kitchens are outfitted with a stove, refrigerator, and microwave, while stackable washer and dryer units are provided in both residences. Fenced backyard areas and off-street parking serve each unit.
The property is located at 1339-1345 N Howard Blvd in Tucson, Arizona, with the University of Arizona approximately a 10-minute drive away. Tenants pay their own gas and electric costs. Showings are available with an accepted offer.
The property is located at 1339-1345 N Howard Blvd in Tucson, Arizona, with the University of Arizona approximately a 10-minute drive away. Tenants pay their own gas and electric costs. Showings are available with an accepted offer.
Key Highlights
- Two‑unit duplex totaling 1,224 square feet
- Built in 1947
- AC cooling and ceiling fans in both units
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
$13,716
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
5.51%
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%
$274,320
$274.3K
Cap Rate 7%
$195,943
$195.9K
Cap Rate 9%
$152,400
$152.4K
Market Conditions
NOI Build-Up for 1,224 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
$21.3K $17.40/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$19.6K $16.01/SF
− OpEx
−$5.9K −$4.80/SF
NOI
$13.7K $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%
$274,320
Cap Rate 7%
$195,943
Cap Rate 9%
$152,400
Alternative Uses
Best Use
Multifamily LT 5
$195.9K
$171.5K – $228.6K
NOI $13,716 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$179.7K
$157.2K – $209.6K
NOI $12,577 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$318.0K
$278.2K – $371.0K
NOI $22,258 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 85716, AZ
31,521
Population
19,025
Households
1.7
Avg Household Size
39
Median Age
42%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
4,378
Density / Sq Mi
$47,009
Median Household Income
$33,367
Median Earnings
$1,021
Median Rent
$300,900
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 - Both units offer private outdoor space, appliances, cooling, and off-street parking.
Where is this duplex located?
The property is located at 1339-1345 N Howard Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,224 square feet; Built in 1947; AC cooling and ceiling fans in both units
