Remodeled Duplex with Two
For Sale
$259,900
50375039 5037&5039 E 1st St, Tucson, AZ 85711
Updated kitchens, bathrooms, windows, plumbing, and mini-split systems serve both residences.
Property Size1,085 SF
Price / SF$239.54
Days on Market42
Property Features for 50375039 5037&5039 E 1st St
General Information
Standard status
Active
Size
1,085 SF
Property subtype
Multi-Family
Zoning
R-2
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1947
Buildings
1
Construction
masonry
Listing Agency:
Russ Lyon Sotheby's International Realty
(520) 906-0367
Listed By:
Marta Harvey · License #SA521055000
Source:
Collaborative-agents
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 7:14PM
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 Russ Lyon Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 1,085-square-foot masonry duplex contains two matching residences, each with 1 bedroom and 1 bathroom. The interiors feature 1' x 2' tile flooring throughout, along with renovated kitchens and bathrooms. Improvements also include new windows, upgraded plumbing, and two mini-split air-conditioning systems in each unit for separate climate control.
The property occupies an R-2 lot at 5037 and 5039 E 1st St in Tucson. Shopping, dining, bus lines, and a neighborhood park are located nearby. The duplex has been rented for decades under the same ownership. The R-2 designation may permit additional buildings, subject to buyer verification.
The property occupies an R-2 lot at 5037 and 5039 E 1st St in Tucson. Shopping, dining, bus lines, and a neighborhood park are located nearby. The duplex has been rented for decades under the same ownership. The R-2 designation may permit additional buildings, subject to buyer verification.
Key Highlights
- Two matching 1‑bedroom, 1‑bathroom units
- 1,085‑square‑foot masonry duplex built in 1947
- 1' x 2' tile flooring installed throughout both residences
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
$12,158
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
4.68%
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%
$243,160
$243.2K
Cap Rate 7%
$173,686
$173.7K
Cap Rate 9%
$135,089
$135.1K
Market Conditions
NOI Build-Up for 1,085 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
$18.9K $17.40/SF
− Vacancy
−$1.5K −$1.39/SF
EGI
$17.4K $16.01/SF
− OpEx
−$5.2K −$4.80/SF
NOI
$12.2K $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%
$243,160
Cap Rate 7%
$173,686
Cap Rate 9%
$135,089
Alternative Uses
Best Use
Multifamily LT 5
$173.7K
$152.0K – $202.6K
NOI $12,158 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$159.3K
$139.4K – $185.8K
NOI $11,149 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$281.9K
$246.6K – $328.8K
NOI $19,730 @ 7.0% cap · market cap 7.59%
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
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 85711, AZ
41,518
Population
19,774
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
4,828
Density / Sq Mi
$52,358
Median Household Income
$35,130
Median Earnings
$1,001
Median Rent
$248,600
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 - Updated kitchens, bathrooms, windows, plumbing, and mini-split systems serve both residences.
Where is this duplex located?
The property is located at 50375039 5037&5039 E 1st St Tucson, AZ.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two matching 1‑bedroom, 1‑bathroom units; 1,085‑square‑foot masonry duplex built in 1947; 1' x 2' tile flooring installed throughout both residences
