R-2 Duplex with Attached Rear
For Sale
$460,000
3025 N Olsen Avenue, Tucson, AZ 85719
Residential Income, Santa Fe, Tucson, AZ
Property Size2,013 SF
Lot Size0.20 Acres
Price / SF$228.51
Days on Market407
Property Features for 3025 N Olsen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R2
Parking
4
Window features
Double Pane Windows
Interior features
Beamed Ceilings
Appliances
Electric Range, Dishwasher, Disposal, Refrigerator
Subdivision
Campbell Ave. Acres
Lot features
Decorative Gravel, Shrubs, East/ West Exposure, Subdivided
Elementary school
Cragin
Middle school
Doolen
High school
Catalina
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
East Fort Lowell from Campbell, South Olsen Avenue to address.
Standard status
Active
APN
112-05-0720
Size
2,013 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
From Parcel:001010010 /Campbell Ave Acres S58.5' E150' Lot 7 Blk 5
Legal Description
From Parcel:001010010 /Campbell Ave Acres S58.5' E150' Lot 7 Blk 5
Utilities
Heating system
Radiant, Natural Gas, Forced Air
Cooling system
Central Air, Wall Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
laundry facilities
Building Details
Year built
1948
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Adobe, Stucco
Roof type
Rolled Hot Mop
Architectural style
Santa Fe
Listing Agency:
Tierra Antigua Realty
(520) 318-5290
Listed By:
Jason K Foster
(520) 429-2660
Added: Aug 22, 2025
Changed: Sep 15
Last Checked: Oct 2 at 6:06AM
MLS# 22522045
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 1948 Santa Fe-style duplex contains approximately 2,013 square feet across two connected residences. The front unit offers three bedrooms, two bathrooms, approximately 1,413 square feet, beamed wood ceilings, ceramic tile flooring, an updated kitchen, and a laundry closet. The attached rear unit includes one bedroom, one bathroom, approximately 600 square feet, a kitchen, and its own laundry facilities.
The 0.20-acre property is zoned Tucson - R2 and sits near the University of Arizona and midtown Tucson activities. Construction includes adobe and stucco, with public water service, a rolled hot-mop roof, radiant and forced-air heating, and wall-unit and central air-conditioning options. The site may offer potential for an additional unit or ADU, subject to buyer investigation.
The 0.20-acre property is zoned Tucson - R2 and sits near the University of Arizona and midtown Tucson activities. Construction includes adobe and stucco, with public water service, a rolled hot-mop roof, radiant and forced-air heating, and wall-unit and central air-conditioning options. The site may offer potential for an additional unit or ADU, subject to buyer investigation.
Key Highlights
- Two‑unit property with approximately 2,013 square feet
- Front unit: 3 bedrooms, 2 bathrooms, and approximately 1,413 square feet
- Attached rear unit: 1 bedroom, 1 bathroom, and approximately 600 square feet
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
$22,557
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
4.90%
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%
$451,140
$451.1K
Cap Rate 7%
$322,243
$322.2K
Cap Rate 9%
$250,633
$250.6K
Market Conditions
NOI Build-Up for 2,013 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
$35.0K $17.40/SF
− Vacancy
−$2.8K −$1.39/SF
EGI
$32.2K $16.01/SF
− OpEx
−$9.7K −$4.80/SF
NOI
$22.6K $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%
$451,140
Cap Rate 7%
$322,243
Cap Rate 9%
$250,633
Alternative Uses
Best Use
Multifamily LT 5
$322.2K
$282.0K – $376.0K
NOI $22,557 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$295.5K
$258.6K – $344.7K
NOI $20,684 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$522.9K
$457.6K – $610.1K
NOI $36,605 @ 7.0% cap · market cap 7.96%
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
1,188
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
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 - The property includes a front residence and an attached rear unit with separate kitchens and laundry facilities.
Where is this duplex located?
The property is located at 3025 N Olsen Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two‑unit property with approximately 2,013 square feet; Front unit: 3 bedrooms, 2 bathrooms, and approximately 1,413 square feet; Attached rear unit: 1 bedroom, 1 bathroom, and approximately 600 square feet
