Duplex with Fenced
For Sale
Under Contract
$249,000
1339-1345 N Howard Boulevard, Tucson, AZ 85716
Residential Income, Southwestern, Tucson, AZ
Property Size1,224 SF
Lot Size0.21 Acres
Price / SF$203.43
Days on Market27
Property Features for 1339-1345 N Howard Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
2
Interior features
Beamed Ceilings
Fencing
Chain Link
Appliances
Gas Range, Refrigerator
Subdivision
Jones Addition
Lot features
East/ West Exposure, Subdivided
Elementary school
Wright
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
From Speedway/Country Club, go East on Speedway to Howard. Make a left and follow Howard to the property on your left.
Standard status
Active Under Contract
APN
122-17-3190
Size
1,224 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:001010010 /Jones S75' N150' Lot 10 Blk 6
Legal Description
From Parcel:001010010 /Jones S75' N150' Lot 10 Blk 6
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
AC cooling
ceiling fans
wood beam ceilings
ceramic tile flooring
stove
refrigerator
microwave
stack washer/dryer
fenced backyard
off-street parking
Building Details
Year built
1947
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Burnt Adobe, Brick
Roof type
Rolled Hot Mop
Architectural style
Other
Listing Agency:
Grijalva Realty Corp.
(520) 325-1574
Listed By:
Eduardo A Garcia · License #25632
(520) 300-1937
Added: Aug 11
Changed: Aug 19
Last Checked: Sep 6 at 4:06AM
MLS# 22619559
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 1,224-square-foot duplex contains two occupied units at 1339-1345 N Howard Boulevard in Tucson. Built in 1947, the property features burnt adobe construction, ceramic tile flooring, beamed ceilings, central air conditioning, forced-air heating, and rolled hot-mop roofing. Each residence includes a gas range, refrigerator, microwave, and stackable washer and dryer, along with a fenced backyard and off-street parking.
The 0.21-acre property is zoned Tucson - R2 and served by public water. Both units have separate gas and electric expenses paid by the tenants. The property is approximately a 10-minute drive from the University of Arizona. Showings are available with an accepted offer, and the occupied units should not be disturbed.
The 0.21-acre property is zoned Tucson - R2 and served by public water. Both units have separate gas and electric expenses paid by the tenants. The property is approximately a 10-minute drive from the University of Arizona. Showings are available with an accepted offer, and the occupied units should not be disturbed.
Key Highlights
- Two‑unit duplex totaling 1,224 Square Feet
- 0.21‑acre lot zoned Tucson - R2
- Built in 1947 with burnt adobe construction
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
Property Profile
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 - Occupied two-unit property with central air, ceramic tile flooring, and separate fenced outdoor areas.
Where is this duplex located?
The property is located at 1339-1345 N Howard Boulevard 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; 0.21‑acre lot zoned Tucson - R2; Built in 1947 with burnt adobe construction
