New-Construction
For Sale
$429,900
3468 S 9th Ave, Tucson, AZ 85713
Two residences with independent electric and water metering support separate occupancy and leasing arrangements.
Property Size1,882 SF
Price / SF$228.43
Days on Market87
Property Features for 3468 S 9th Ave
General Information
Standard status
Active
Size
1,882 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$803
Listing Agency:
Tierra Antigua Realty
(520) 979-2267
Listed By:
Jose Campillo
(520) 979-2267
Source:
Exprealty
Added: May 27
Changed: Aug 20
Last Checked: Aug 21 at 10:36AM
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 Tierra Antigua Realty
Investment Insights
Based on property information with market context.
This newly built duplex at 3468 S 9th Ave in Tucson, AZ contains 1,882 square feet across two residences. The larger unit offers three bedrooms and two bathrooms, while the second includes two bedrooms and one bathroom. Each residence has its own electric meter and water meter, providing distinct utility service for the units.
The configuration accommodates an owner-occupant who wants a separate residence on the property, as well as an investor seeking to lease both units. The two-unit layout also allows the residences to be managed as distinct living spaces while sharing the overall duplex structure.
The configuration accommodates an owner-occupant who wants a separate residence on the property, as well as an investor seeking to lease both units. The two-unit layout also allows the residences to be managed as distinct living spaces while sharing the overall duplex structure.
Key Highlights
- New construction duplex with 1,882 square feet
- Unit mix includes a 3‑bedroom, 2‑bath residence and a 2‑bedroom, 1‑bath residence
- Separate electric meter assigned to each unit
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
$18,616
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
4.33%
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%
$372,320
$372.3K
Cap Rate 7%
$265,943
$265.9K
Cap Rate 9%
$206,844
$206.8K
Market Conditions
NOI Build-Up for 1,882 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
$28.9K $15.36/SF
− Vacancy
−$2.3K −$1.23/SF
EGI
$26.6K $14.13/SF
− OpEx
−$8.0K −$4.24/SF
NOI
$18.6K $9.89/SF
Area
ZIP 85713
Vacancy
8.00%
Lease Rate
$15.36 /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%
$372,320
Cap Rate 7%
$265,943
Cap Rate 9%
$206,844
Alternative Uses
Best Use
Multifamily LT 5
$265.9K
$232.7K – $310.3K
NOI $18,616 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$245.4K
$214.7K – $286.3K
NOI $17,177 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$460.7K
$403.1K – $537.5K
NOI $32,250 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,276
Businesses Nearby
Explore this area
Business Placement
Demographics for 85713, AZ
46,810
Population
19,056
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
79%
High-School Grad
23.8 sq mi
ZIP Area
1,967
Density / Sq Mi
$50,264
Median Household Income
$32,302
Median Earnings
$1,017
Median Rent
$171,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences with independent electric and water metering support separate occupancy and leasing arrangements.
Where is this duplex located?
The property is located at 3468 S 9th Ave Tucson, AZ.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: New construction duplex with 1,882 square feet; Unit mix includes a 3‑bedroom, 2‑bath residence and a 2‑bedroom, 1‑bath residence; Separate electric meter assigned to each unit
