New Two-Unit
For Sale
$415,000
214 E Kelso St, Tucson, AZ 85705
Modern interiors, fenced front yards, and equipped eat-in kitchens support flexible residential use.
Property Size1,881 SF
Price / SF$220.63
Days on Market9
Property Features for 214 E Kelso St
General Information
Standard status
Active
Size
1,881 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Real Broker
Listed By:
Kyle Mokhtarian · License #17381
(520) 595-1120
Source:
Anthony.viewalltucsonhomes
Added: Sep 6
Changed: Sep 14
Last Checked: Sep 14 at 11:56AM
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 Real Broker
Investment Insights
Based on property information with market context.
Built in 2026, this duplex offers two residential units with contemporary interior finishes and distinct outdoor areas. Each unit includes a fenced front yard, high ceilings, wood-look tile flooring, and a neutral color scheme. Eat-in kitchens feature shaker cabinetry, recessed lighting, and dedicated counter space. Stainless steel electric ranges, over-the-range microwaves, and dishwashers are scheduled for installation at closing. Unit B adds a spacious primary suite with a private en-suite bathroom.
The property is located at 214 E Kelso St in Tucson, with dining and shopping described as just minutes away. The residence may suit investors or multi-generational households, as supported by its two-unit configuration.
The property is located at 214 E Kelso St in Tucson, with dining and shopping described as just minutes away. The residence may suit investors or multi-generational households, as supported by its two-unit configuration.
Key Highlights
- Two‑unit duplex built in 2026
- Each unit includes a fenced front yard
- High ceilings and wood‑look tile flooring throughout the interiors
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
$18,170
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
4.38%
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%
$363,400
$363.4K
Cap Rate 7%
$259,571
$259.6K
Cap Rate 9%
$201,889
$201.9K
Market Conditions
NOI Build-Up for 1,881 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
$28.2K $15.00/SF
− Vacancy
−$2.3K −$1.20/SF
EGI
$26.0K $13.80/SF
− OpEx
−$7.8K −$4.14/SF
NOI
$18.2K $9.66/SF
Area
ZIP 85705
Vacancy
8.00%
Lease Rate
$15.00 /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%
$363,400
Cap Rate 7%
$259,571
Cap Rate 9%
$201,889
Alternative Uses
Best Use
Multifamily LT 5
$259.6K
$227.1K – $302.8K
NOI $18,170 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$235.5K
$206.1K – $274.8K
NOI $16,485 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$432.8K
$378.7K – $505.0K
NOI $30,299 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 85705, AZ
56,711
Population
29,145
Households
1.9
Avg Household Size
36
Median Age
20%
College-Educated
80%
High-School Grad
13.6 sq mi
ZIP Area
4,170
Density / Sq Mi
$36,606
Median Household Income
$27,220
Median Earnings
$924
Median Rent
$113,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Modern interiors, fenced front yards, and equipped eat-in kitchens support flexible residential use.
Where is this duplex located?
The property is located at 214 E Kelso St Tucson, AZ.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2026; Each unit includes a fenced front yard; High ceilings and wood‑look tile flooring throughout the interiors
