Remodeled Two-Unit
For Sale
$315,000
2112 E 18th St, Tucson, AZ 85719
Updated duplex with separate living spaces and flexible occupancy options near parks, shopping, dining, and daily services.
Property Size1,250 SF
Price / SF$252
Days on Market22
Property Features for 2112 E 18th St
General Information
Standard status
Active
Size
1,250 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA approx 750 sq ft, 1 x 1BR/1BA approx 500 sq ft
Multifamily Units
2
Building Details
Year Built
1949
Listing Agency:
Realty Executives Arizona Territory
(520) 490-0367
Listed By:
Valerie Lovio
Source:
Wowrealestate
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 8:01PM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
Built in 1949, this duplex at 2112 E 18th St in Tucson includes two independent residential units totaling approximately 1,250 square feet. The larger residence offers 2 bedrooms and 1 bathroom across approximately 750 square feet, while the second includes 1 bedroom and 1 bathroom within approximately 500 square feet. Both units have undergone recent remodeling, providing separate living arrangements within the property.
The property is near Reid Park and El Con Mall, with shopping, dining, and everyday conveniences in the surrounding area. Its two-unit configuration supports separate occupancy and provides flexibility for residential rental use, short-term rental use, or an owner-occupant arrangement with another unit on the property.
The property is near Reid Park and El Con Mall, with shopping, dining, and everyday conveniences in the surrounding area. Its two-unit configuration supports separate occupancy and provides flexibility for residential rental use, short-term rental use, or an owner-occupant arrangement with another unit on the property.
Key Highlights
- Two‑unit duplex totaling approximately 1,250 square feet
- 2‑bedroom, 1‑bathroom unit with approximately 750 sq ft
- 1‑bedroom, 1‑bathroom unit with approximately 500 sq ft
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
$14,007
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
4.45%
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%
$280,140
$280.1K
Cap Rate 7%
$200,100
$200.1K
Cap Rate 9%
$155,633
$155.6K
Market Conditions
NOI Build-Up for 1,250 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
$21.8K $17.40/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$20.0K $16.01/SF
− OpEx
−$6.0K −$4.80/SF
NOI
$14.0K $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%
$280,140
Cap Rate 7%
$200,100
Cap Rate 9%
$155,633
Alternative Uses
Best Use
Multifamily LT 5
$200.1K
$175.1K – $233.5K
NOI $14,007 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$183.5K
$160.6K – $214.1K
NOI $12,844 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$324.7K
$284.1K – $378.8K
NOI $22,730 @ 7.0% cap · market cap 7.22%
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
767
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex with separate living spaces and flexible occupancy options near parks, shopping, dining, and daily services.
Where is this duplex located?
The property is located at 2112 E 18th St Tucson, AZ.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑unit duplex totaling approximately 1,250 square feet; 2‑bedroom, 1‑bathroom unit with approximately 750 sq ft; 1‑bedroom, 1‑bathroom unit with approximately 500 sq ft
