New Construction
For Sale
$414,999
370 E Corona Road, Tucson, AZ 85756
MULTI_FAMILY - Other - Tucson, AZ
Property Size1,882 SF
Lot Size0.18 Acres
Price / SF$220.51
Days on Market50
Property Features for 370 E Corona Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Tucson - R2
Parking
4
Appliances
Electric Range
Subdivision
Golden Dawn Farms
Lot features
Decorative Gravel, North/ South Exposure
Elementary school
Elvira
Middle school
Challenger
High school
Desert View
Elementary school district
Sunnyside
Middle school district
Sunnyside
High school district
Sunnyside
Directions
Valencia and South Nogales Highway West on Corona to the address.
Standard status
Active
APN
138-17-0910
Size
1,882 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORONA ADDITION SQ202852870547 LOT 1
Legal Description
CORONA ADDITION SQ202852870547 LOT 1
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Frame - Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
OMNI Homes International
(520) 474-1777
Listed By:
Evangelina R Valdez Valenzuela
(520) 270-6127
Added: Jun 23
Changed: Aug 5
Last Checked: Aug 11 at 7:06PM
MLS# 22615669
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 under-construction duplex is planned as a 1,882-square-foot residential income property with two separate units. The larger unit includes 3 bedrooms and 2 baths across 1,079 square feet, while the second offers 2 bedrooms and 1 bath within 803 square feet. Each unit has two parking spaces. Interior features include granite countertops, new stainless steel appliances, ceramic tile flooring, heat pump heating, and central air conditioning. Frame-and-stucco construction and a tile roof complete the improvements, with public water serving the property.
The 0.18-acre site is located in Tucson near I-19 and I-10, with shopping nearby. The property is zoned Tucson - R2 and carries a 2026 year-built designation.
The 0.18-acre site is located in Tucson near I-19 and I-10, with shopping nearby. The property is zoned Tucson - R2 and carries a 2026 year-built designation.
Key Highlights
- Two‑unit duplex totaling 1,882 square feet
- 3‑bedroom, 2‑bath unit measures 1,079 square feet
- 2‑bedroom, 1‑bath unit measures 803 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
$21,089
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
5.08%
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%
$421,780
$421.8K
Cap Rate 7%
$301,271
$301.3K
Cap Rate 9%
$234,322
$234.3K
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
$32.7K $17.40/SF
− Vacancy
−$2.6K −$1.39/SF
EGI
$30.1K $16.01/SF
− OpEx
−$9.0K −$4.80/SF
NOI
$21.1K $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%
$421,780
Cap Rate 7%
$301,271
Cap Rate 9%
$234,322
Alternative Uses
Best Use
Multifamily LT 5
$301.3K
$263.6K – $351.5K
NOI $21,089 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$276.3K
$241.7K – $322.3K
NOI $19,338 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$488.9K
$427.8K – $570.4K
NOI $34,223 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Explore this area
Business Placement
Demographics for 85756, AZ
35,345
Population
12,772
Households
2.8
Avg Household Size
36
Median Age
19%
College-Educated
83%
High-School Grad
93.7 sq mi
ZIP Area
377
Density / Sq Mi
$67,617
Median Household Income
$38,648
Median Earnings
$1,256
Median Rent
$210,800
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 - Under-construction duplex with two distinct floor plans, updated finishes, central air, and ceramic tile flooring throughout.
Where is this duplex located?
The property is located at 370 E Corona Road Tucson, AZ.
What is the asking price?
The asking price for this property is $414,999.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,882 square feet; 3‑bedroom, 2‑bath unit measures 1,079 square feet; 2‑bedroom, 1‑bath unit measures 803 square feet
