Remodeled Two-Unit
For Sale
$299,000
229231 229 & 231 W Jacinto St, Tucson, AZ 85705
Updated interiors, refreshed systems, and private outdoor space support a straightforward residential income property configuration.
Property Size1,564 SF
Price / SF$191.18
Days on Market34
Property Features for 229231 229 & 231 W Jacinto St
General Information
Standard status
Active
Size
1,564 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
backyard
Building Details
Year Built
1958
Listing Agency:
Real Broker
(520) 595-1120
Listed By:
Kyle Mokhtarian
Source:
Wowrealestate
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 30 at 7:12PM
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.
This duplex contains two residential units, each with 2 bedrooms and 1 bathroom, within a combined 1,564 square feet. Interior improvements include wood-look flooring, new baseboards, shaker-style kitchen cabinetry, laminate countertops, stainless steel appliances, refreshed bathrooms, updated lighting, ceiling fans, dual-pane windows, and upgraded door hardware. Each kitchen includes a gas range and over-the-range microwave. New HVAC equipment, a new water heater, and a new roof with warranty add to the recent improvements. The property was built in 1958 and includes an easy-care backyard with room for grilling or outdoor relaxation.
Located near freeway access, restaurants, and shopping, the property is positioned for convenient access to everyday services in Tucson.
Located near freeway access, restaurants, and shopping, the property is positioned for convenient access to everyday services in Tucson.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,564 SF total property size; built in 1958
- Remodeled kitchens with shaker cabinets, laminate counters, gas ranges, and OTR microwaves
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
$15,108
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
5.05%
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%
$302,160
$302.2K
Cap Rate 7%
$215,829
$215.8K
Cap Rate 9%
$167,867
$167.9K
Market Conditions
NOI Build-Up for 1,564 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
$23.5K $15.00/SF
− Vacancy
−$1.9K −$1.20/SF
EGI
$21.6K $13.80/SF
− OpEx
−$6.5K −$4.14/SF
NOI
$15.1K $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%
$302,160
Cap Rate 7%
$215,829
Cap Rate 9%
$167,867
Alternative Uses
Best Use
Multifamily LT 5
$215.8K
$188.9K – $251.8K
NOI $15,108 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$195.8K
$171.3K – $228.5K
NOI $13,707 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$359.9K
$314.9K – $419.9K
NOI $25,193 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
69
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
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 - Updated interiors, refreshed systems, and private outdoor space support a straightforward residential income property configuration.
Where is this duplex located?
The property is located at 229231 229 & 231 W Jacinto St Tucson, AZ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,564 SF total property size; built in 1958; Remodeled kitchens with shaker cabinets, laminate counters, gas ranges, and OTR microwaves
