Duplex with Covered
For Sale
$240,000
Pending
4101-4103 North Fremont Avenue, Tucson, AZ 85719
Two-unit property with tile flooring, fresh paint, natural-gas service, and one vacant unit for occupancy or leasing.
Property Size1,344 SF
Days on Market67
Property Features for 4101-4103 North Fremont Avenue
General Information
Standard status
Pending
Size
1,344 SF
Property subtype
Residential Income / Duplex
Zoning
Tucson - R2
Net Operating Income
$9,142
Additional Details
Multifamily Units
2
Amenities
covered patio
Evaporative Cooling
Forced Air
Ceramic Tile
Electric Range, Gas Range, Disposal, Refrigerator
Area
Yes
Eat-In Kitchen
Living Room
Natural Gas
No
White
Stay
Double Pane Windows
Laundry Room
Built-in Features
Window Bars
Cabinet
Laminate
Built-Up
Chain Link
Covered
Building Details
Year Built
1963
Listing Agency:
OMNI Homes International
(520) 288-0028
Listed By:
Phil Le Peau · License #SA673646000
(520) 288-0028
Source:
Compass
Added: Jun 26
Changed: Aug 29
Last Checked: Aug 31 at 1:37AM
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 OMNI Homes International
Investment Insights
Based on property information with market context.
This 1,344-square-foot duplex was built in 1963 and is zoned Tucson - R2. One unit is vacant, providing flexibility for an owner occupant or a new lease while the other side remains rented. Interior features include ceramic tile, fresh paint, abundant natural light, double-pane windows, window bars, a living room, eat-in kitchen, bedroom storage, and a laundry room. The property also includes evaporative cooling, forced-air heating, natural gas, and covered outdoor space.
Located in Tucson, the property is a few minutes from restaurants, shopping destinations, and other everyday amenities. Exterior improvements include a built-up roof, chain-link fencing, and covered features.
Located in Tucson, the property is a few minutes from restaurants, shopping destinations, and other everyday amenities. Exterior improvements include a built-up roof, chain-link fencing, and covered features.
Key Highlights
- 1,344‑square‑foot duplex built in 1963
- One unit is vacant while the other side remains rented
- Tucson - R2 zoning
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
$15,060
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
6.28%
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%
$301,200
$301.2K
Cap Rate 7%
$215,143
$215.1K
Cap Rate 9%
$167,333
$167.3K
Market Conditions
NOI Build-Up for 1,344 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
$23.4K $17.40/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$21.5K $16.01/SF
− OpEx
−$6.5K −$4.80/SF
NOI
$15.1K $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%
$301,200
Cap Rate 7%
$215,143
Cap Rate 9%
$167,333
Alternative Uses
Best Use
Multifamily LT 5
$215.1K
$188.3K – $251.0K
NOI $15,060 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$197.3K
$172.6K – $230.2K
NOI $13,810 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$349.1K
$305.5K – $407.3K
NOI $24,440 @ 7.0% cap · market cap 10.18%
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
1,206
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
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 - Two-unit property with tile flooring, fresh paint, natural-gas service, and one vacant unit for occupancy or leasing.
Where is this duplex located?
The property is located at 4101-4103 North Fremont Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,344‑square‑foot duplex built in 1963; One unit is vacant while the other side remains rented; Tucson - R2 zoning
