Bungalow
New
For Sale
$240,000
219 E Palmdale Street, Tucson, AZ 85714
MULTI_FAMILY - Bungalow - Tucson, AZ
Property Size1,085 SF
Lot Size0.16 Acres
Price / SF$221.20
Days on Market7
Property Features for 219 E Palmdale Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
2
Fencing
Chain Link
Appliances
Electric Range, Disposal, Refrigerator
Subdivision
Government Hgts Sub 2 Amd
Lot features
North/ South Exposure, Subdivided
Elementary school
Van Buskirk
Middle school
Utterback-Magnet
High school
Pueblo
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Ajo and 6th, east to 4th Avenue South to Palmdale.
Standard status
Active
APN
120061730
Size
1,085 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Amended Government Heights No 2 Lot 12 BLK 13
Legal Description
Amended Government Heights No 2 Lot 12 BLK 13
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
washer and dryer
Building Details
Year built
1934
Number of units
2
Building materials
Block
Roof type
Shingle
Architectural style
Bungalow
Listing Agency:
OMNI Homes International
(520) 474-1777
Listed By:
Corie Varela · License #SA638052000
(520) 370-1224
Added: Aug 5
Last Checked: Aug 11 at 4:06PM
MLS# 22618993
Copyright © 2026 Multiple Listing Service of Southern Arizona. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1934 bungalow-style duplex includes a 1,085-square-foot main residence with two bedrooms and one bathroom, plus a separate rear unit with one bedroom and one bathroom. Both residences include a washer and dryer, individual water meters, and new electrical panels. The block construction is complemented by central air, forced-air heating, shingle roofing, chain-link fencing, and select appliances including electric ranges, disposals, and refrigerators.
The property occupies 0.16 acres in Tucson and carries Tucson - R2 zoning. One-year leases are currently in place and may transfer to the new owner. The property is positioned near the VA hospital, shopping, and I-10, providing access to nearby services and the regional freeway network.
The property occupies 0.16 acres in Tucson and carries Tucson - R2 zoning. One-year leases are currently in place and may transfer to the new owner. The property is positioned near the VA hospital, shopping, and I-10, providing access to nearby services and the regional freeway network.
Key Highlights
- 2/1 main residence paired with a 1/1 rear unit
- 1,085 SF duplex on a 0.16‑acre lot
- Individual water meters and washer/dryer units for both residences
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
$12,158
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
5.07%
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%
$243,160
$243.2K
Cap Rate 7%
$173,686
$173.7K
Cap Rate 9%
$135,089
$135.1K
Market Conditions
NOI Build-Up for 1,085 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
$18.9K $17.40/SF
− Vacancy
−$1.5K −$1.39/SF
EGI
$17.4K $16.01/SF
− OpEx
−$5.2K −$4.80/SF
NOI
$12.2K $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%
$243,160
Cap Rate 7%
$173,686
Cap Rate 9%
$135,089
Alternative Uses
Best Use
Multifamily LT 5
$173.7K
$152.0K – $202.6K
NOI $12,158 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$159.3K
$139.4K – $185.8K
NOI $11,149 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$281.9K
$246.6K – $328.8K
NOI $19,730 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
Explore this area
Business Placement
Demographics for 85714, AZ
14,232
Population
5,589
Households
2.5
Avg Household Size
38
Median Age
10%
College-Educated
69%
High-School Grad
5.6 sq mi
ZIP Area
2,541
Density / Sq Mi
$47,093
Median Household Income
$30,204
Median Earnings
$879
Median Rent
$177,100
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 - Two residences offer separate utilities, in-unit laundry, and existing one-year leases that may transfer to the purchaser.
Where is this duplex located?
The property is located at 219 E Palmdale Street Tucson, AZ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 2/1 main residence paired with a 1/1 rear unit; 1,085 SF duplex on a 0.16‑acre lot; Individual water meters and washer/dryer units for both residences
