Duplex with Fenced
For Sale
$275,000
1651 N Magnolia Ave, Tucson, AZ 85712
Rear storage area is enclosed by fencing for controlled access and organization.
Property Size1,537 SF
Price / SF$178.92
Days on Market38
Property Features for 1651 N Magnolia Ave
General Information
Standard status
Active
Size
1,537 SF
Additional Details
Multifamily Units
2
Amenities
fenced storage area
Building Details
Year Built
1947
Listing Agency:
SimpliHom, INC
(888) 897-7821
Listed By:
James Cecil Buchanan
Source:
Azonthemove
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 30 at 7:48PM
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 SimpliHom, INC
Investment Insights
Based on property information with market context.
This duplex was built in 1947 and includes a fenced storage area at the rear of the property. The property is located at 1651 N Magnolia Ave in Tucson, Arizona, with a reported property size of 1,537.
Key Highlights
- Duplex property
- Fenced storage area at the rear
- Built in 1947
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
$17,223
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
6.26%
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%
$344,460
$344.5K
Cap Rate 7%
$246,043
$246.0K
Cap Rate 9%
$191,367
$191.4K
Market Conditions
NOI Build-Up for 1,537 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
$26.7K $17.40/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$24.6K $16.01/SF
− OpEx
−$7.4K −$4.80/SF
NOI
$17.2K $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%
$344,460
Cap Rate 7%
$246,043
Cap Rate 9%
$191,367
Alternative Uses
Best Use
Multifamily LT 5
$246.0K
$215.3K – $287.1K
NOI $17,223 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$225.6K
$197.4K – $263.2K
NOI $15,793 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$399.3K
$349.4K – $465.8K
NOI $27,949 @ 7.0% cap · market cap 10.16%
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
2,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 85712, AZ
33,108
Population
18,215
Households
1.8
Avg Household Size
44
Median Age
37%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
4,869
Density / Sq Mi
$48,185
Median Household Income
$39,090
Median Earnings
$947
Median Rent
$250,400
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?
Duplex - Rear storage area is enclosed by fencing for controlled access and organization.
Where is this duplex located?
The property is located at 1651 N Magnolia Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Duplex property; Fenced storage area at the rear; Built in 1947
