Ranch-Style
For Sale
$419,000
5405 S Masterson Avenue, Tucson, AZ 85706
Residential Income, Ranch, Tucson, AZ
Property Size2,152 SF
Lot Size0.22 Acres
Price / SF$194.70
Days on Market192
Property Features for 5405 S Masterson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Pima County - MU
Parking
2
Appliances
Electric Range
Subdivision
Los Ranchitos
Lot features
Decorative Gravel, North/ South Exposure
Elementary school
Los Amigos
Middle school
Challenger
High school
Desert View
Elementary school district
Sunnyside
Middle school district
Sunnyside
High school district
Sunnyside
Directions
From I-10, take the Palo Verde Rd exit and head south. Turn right onto Benson Hwy, then turn left onto S Masterson Ave. Continue to 5405 S Masterson Ave. The property will be on your left.
Standard status
Active
APN
140-09-027A
Size
2,152 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Los Ranchitos Lot 37 Exc W60.79' S132.82'
Legal Description
Los Ranchitos Lot 37 Exc W60.79' S132.82'
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Frame - Stucco, Stucco
Roof type
Tile
Architectural style
Ranch
Listing Agency:
OMNI Homes International
(520) 474-1777
Listed By:
Daniel T. Monroy
(520) 904-2614
Added: Mar 25
Changed: Sep 4
Last Checked: Oct 2 at 6:06AM
MLS# 22607893
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.
Built in 2024, this ranch-style duplex contains two separate residences within 2152 square feet. Each unit has 3 bedrooms and 2 bathrooms, with open living areas, natural light, a kitchen with cabinet storage, ceramic tile flooring, central air, and electric heating. The property also includes an electric range, tile roofing, frame-and-stucco construction, and public water service.
Set on 0.22 acres in Tucson, the property is near shopping, dining, and schools, with access to I-10 and major roadways. Pima County - MU zoning and the two-unit layout support a range of residential income and owner-occupant arrangements described for the property.
Set on 0.22 acres in Tucson, the property is near shopping, dining, and schools, with access to I-10 and major roadways. Pima County - MU zoning and the two-unit layout support a range of residential income and owner-occupant arrangements described for the property.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2152 square feet on a 0.22‑acre lot
- Built in 2024 with ranch architectural styling
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
$20,788
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
4.96%
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%
$415,760
$415.8K
Cap Rate 7%
$296,971
$297.0K
Cap Rate 9%
$230,978
$231.0K
Market Conditions
NOI Build-Up for 2,152 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
$32.3K $15.00/SF
− Vacancy
−$2.6K −$1.20/SF
EGI
$29.7K $13.80/SF
− OpEx
−$8.9K −$4.14/SF
NOI
$20.8K $9.66/SF
Area
ZIP 85706
Vacancy
8.00%
Lease Rate
$15.00 /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%
$415,760
Cap Rate 7%
$296,971
Cap Rate 9%
$230,978
Alternative Uses
Best Use
Multifamily LT 5
$297.0K
$259.9K – $346.5K
NOI $20,788 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$263.9K
$230.9K – $307.8K
NOI $18,470 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$445.0K
$389.4K – $519.2K
NOI $31,149 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 85706, AZ
54,853
Population
19,095
Households
2.9
Avg Household Size
33
Median Age
10%
College-Educated
70%
High-School Grad
13.1 sq mi
ZIP Area
4,187
Density / Sq Mi
$49,072
Median Household Income
$30,977
Median Earnings
$981
Median Rent
$169,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 three-bedroom residences feature ceramic tile, central air, and electric heating.
Where is this duplex located?
The property is located at 5405 S Masterson Avenue Tucson, AZ.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2152 square feet on a 0.22‑acre lot; Built in 2024 with ranch architectural styling
