Ranch-Style Multifamily
New
For Sale
$444,900
1415 E 9th Street, Tucson, AZ 85719
R2-zoned property with central air, forced-air heating, and washer and dryer equipment.
Property Size1,953 SF
Price / SF$227.80
Days on Market7
Property Features for 1415 E 9th Street
General Information
Standard status
Active
Size
1,953 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
Tucson - R2
Net Operating Income
$21,821
Amenities
Sidewalks
Central Air, Ceiling Fan(s)
Forced Air
Electric Range, Refrigerator, Dryer, Washer, Gas Water Heater
Granite Counters, High Speed Internet
Mountain(s)
Block, Chain Link
Ranch
Building Details
Building Size
1,953 SF
Year Built
1947
Listing Agency:
Long Realty
(520) 247-4459
Listed By:
John E Billings
(520) 247-4459
Source:
Evrealestate
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 6:17AM
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 Long Realty
Investment Insights
Based on property information with market context.
This multifamily property at 1415 E 9th Street features a ranch-style layout with block and chain-link exterior elements. Interior improvements include central air, ceiling fans, forced-air heating, granite countertops, and high-speed internet. The property also includes an electric range, refrigerator, washer, dryer, and gas water heater.
Built in 1947, the property is zoned Tucson - R2. Access is provided from E 9th Street near Highland Avenue, with the surrounding setting identified as including mountain features. The recorded property size is 1953.
Built in 1947, the property is zoned Tucson - R2. Access is provided from E 9th Street near Highland Avenue, with the surrounding setting identified as including mountain features. The recorded property size is 1953.
Key Highlights
- Tucson - R2 zoning
- Built in 1947
- Ranch‑style property with block and chain‑link elements
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
$20,068
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
4.51%
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%
$401,360
$401.4K
Cap Rate 7%
$286,686
$286.7K
Cap Rate 9%
$222,978
$223.0K
Market Conditions
NOI Build-Up for 1,953 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
$39.8K $20.40/SF
− Vacancy
−$3.4K −$1.72/SF
EGI
$36.5K $18.68/SF
− OpEx
−$16.4K −$8.41/SF
NOI
$20.1K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$401,360
Cap Rate 7%
$286,686
Cap Rate 9%
$222,978
Alternative Uses
Best Use
Apartment 5plus
$286.7K
$250.9K – $334.5K
NOI $20,068 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$507.3K
$443.9K – $591.9K
NOI $35,514 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,352
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R2-zoned property with central air, forced-air heating, and washer and dryer equipment.
Where is this multifamily property located?
The property is located at 1415 E 9th Street Tucson, AZ.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Tucson - R2 zoning; Built in 1947; Ranch‑style property with block and chain‑link elements
