Modern Duplex with Two
For Sale
$414,999
378 E Corona Road, Tucson, AZ 85756
Residential Income, Modern, Tucson, AZ
Property Size1,882 SF
Lot Size0.18 Acres
Price / SF$220.51
Days on Market103
Property Features for 378 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, Subdivided
Elementary school
Gallego
Middle school
Gallego Intermediate School
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
138-17-0930
Size
1,882 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
CORONA ADDITION SQ202852870547 LOT 3
Legal Description
CORONA ADDITION SQ202852870547 LOT 3
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
Modern
Listing Agency:
Realty Executives Arizona Territory · Realty Executives International
(520) 877-4940
Listed By:
Eddie D Watters · License #31442
(520) 237-5607
Added: Jun 22
Changed: Aug 26
Last Checked: Oct 2 at 6:06AM
MLS# 22615611
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 modern duplex is under construction with 1,882 square feet across two residential units. The floor plan includes a three-bedroom, two-bath unit and a two-bedroom, one-bath unit, giving the property a distinct two-unit configuration. Both residences feature open-concept living areas, contemporary finishes, stylish kitchens, ceramic tile flooring, central air, and heat-pump heating. The frame-and-stucco construction is complemented by tile roofing and an electric range.
Located in Tucson, Arizona, the property sits on a 0.18-acre lot and has public water service. Ample parking is included, while the R2 zoning designation is identified as Tucson - R2. The planned 2026 construction and modern architectural style provide a consistent design across both units.
Located in Tucson, Arizona, the property sits on a 0.18-acre lot and has public water service. Ample parking is included, while the R2 zoning designation is identified as Tucson - R2. The planned 2026 construction and modern architectural style provide a consistent design across both units.
Key Highlights
- Two‑unit duplex with 1,882 square feet of property size
- Unit mix includes 3 bedrooms and 2 bathrooms plus 2 bedrooms and 1 bathroom
- Under construction with 2026 year built
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
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
91
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - New construction offers contemporary finishes, open living areas, and low-maintenance ownership.
Where is this duplex located?
The property is located at 378 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 with 1,882 square feet of property size; Unit mix includes 3 bedrooms and 2 bathrooms plus 2 bedrooms and 1 bathroom; Under construction with 2026 year built
