Single-Story
For Sale
$329,900
2001 S 3rd Ave, Tucson, AZ 85713
The two-unit layout allows one unit to be occupied while improvements are made to the adjoining unit.
Property Size1,565 SF
Lot Size0.16 Acres
Price / SF$210.80
Days on Market43
Property Features for 2001 S 3rd Ave
General Information
Standard status
Active
Size
1,565 SF
Lot size
0.16 Acres
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1972
Buildings
1
Stories
1
Listing Agency:
Keller Williams Southern Arizona
(520) 270-3939
Listed By:
Kimberly Maisto
Source:
Collaborative-agents
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 30 at 8:25PM
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 Keller Williams Southern Arizona
Investment Insights
Based on property information with market context.
This one-story duplex contains 1,565 square feet across two units on a 6,970-square-foot lot. The configuration supports occupying one side while work is completed on the adjoining unit, offering flexibility for an owner-user, household arrangement, or future rental use. Built in 1972, the property presents a residential income asset with room for improvements.
Shopping, local markets, and daily necessities are within walking distance. Additional dining, grocery, and retail options are located along S 6th Avenue, while schools, parks, major roadways, and public transportation are also nearby. The property is at 2001 S 3rd Ave in Tucson, Arizona 85713.
Shopping, local markets, and daily necessities are within walking distance. Additional dining, grocery, and retail options are located along S 6th Avenue, while schools, parks, major roadways, and public transportation are also nearby. The property is at 2001 S 3rd Ave in Tucson, Arizona 85713.
Key Highlights
- 1,565‑square‑foot duplex with two units
- 6,970‑square‑foot lot
- Single‑story layout built in 1972
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
$15,481
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
4.69%
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%
$309,620
$309.6K
Cap Rate 7%
$221,157
$221.2K
Cap Rate 9%
$172,011
$172.0K
Market Conditions
NOI Build-Up for 1,565 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
$24.0K $15.36/SF
− Vacancy
−$1.9K −$1.23/SF
EGI
$22.1K $14.13/SF
− OpEx
−$6.6K −$4.24/SF
NOI
$15.5K $9.89/SF
Area
ZIP 85713
Vacancy
8.00%
Lease Rate
$15.36 /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%
$309,620
Cap Rate 7%
$221,157
Cap Rate 9%
$172,011
Alternative Uses
Best Use
Multifamily LT 5
$221.2K
$193.5K – $258.0K
NOI $15,481 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$204.1K
$178.6K – $238.1K
NOI $14,284 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$383.1K
$335.2K – $447.0K
NOI $26,818 @ 7.0% cap · market cap 8.13%
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
862
Businesses Nearby
Explore this area
Business Placement
Demographics for 85713, AZ
46,810
Population
19,056
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
79%
High-School Grad
23.8 sq mi
ZIP Area
1,967
Density / Sq Mi
$50,264
Median Household Income
$32,302
Median Earnings
$1,017
Median Rent
$171,700
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 - The two-unit layout allows one unit to be occupied while improvements are made to the adjoining unit.
Where is this duplex located?
The property is located at 2001 S 3rd Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 1,565‑square‑foot duplex with two units; 6,970‑square‑foot lot; Single‑story layout built in 1972
