One-Story Duplex with Block
For Sale
$325,000
303305 303 & 305 E Palmdale St, Tucson, AZ 85714
Leased two-unit property featuring gas appliances and a shingle roof.
Property Size1,709 SF
Price / SF$190.17
Days on Market13
Property Features for 303305 303 & 305 E Palmdale St
General Information
Standard status
Active
Size
1,709 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1961
Buildings
1
Stories
1
Construction
block
Listing Agency:
Realty Executives Arizona Territory
(520) 990-0310
Listed By:
Connie J Jackson-Slye
Source:
Collaborative-agents
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 30 at 6:59PM
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.
This one-story duplex contains 1,709 square feet and was built in 1961. The structure uses block construction and has a shingle roof, with gas appliances serving the units.
Both sides are currently leased, including one tenancy that has continued for more than 30 years. The property is identified as a duplex and is located in Tucson, Arizona.
Both sides are currently leased, including one tenancy that has continued for more than 30 years. The property is identified as a duplex and is located in Tucson, Arizona.
Key Highlights
- 1,709‑square‑foot duplex built in 1961
- One‑story block construction
- Currently leased on both sides
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
$19,150
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
5.89%
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%
$383,000
$383.0K
Cap Rate 7%
$273,571
$273.6K
Cap Rate 9%
$212,778
$212.8K
Market Conditions
NOI Build-Up for 1,709 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
$29.7K $17.40/SF
− Vacancy
−$2.4K −$1.39/SF
EGI
$27.4K $16.01/SF
− OpEx
−$8.2K −$4.80/SF
NOI
$19.2K $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%
$383,000
Cap Rate 7%
$273,571
Cap Rate 9%
$212,778
Alternative Uses
Best Use
Multifamily LT 5
$273.6K
$239.4K – $319.2K
NOI $19,150 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$250.9K
$219.5K – $292.7K
NOI $17,560 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$444.0K
$388.5K – $518.0K
NOI $31,077 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
786
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 - Leased two-unit property featuring gas appliances and a shingle roof.
Where is this duplex located?
The property is located at 303305 303 & 305 E Palmdale St Tucson, AZ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,709‑square‑foot duplex built in 1961; One‑story block construction; Currently leased on both sides
