New Construction
For Sale
$425,000
5978 S Stewart Boulevard, Tucson, AZ 85706
Residential Income, Southwestern, Tucson, AZ
Property Size1,882 SF
Lot Size0.16 Acres
Price / SF$225.82
Days on Market139
Property Features for 5978 S Stewart Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Tucson - MH1
Parking
4
Appliances
Electric Range
Subdivision
Nelson Mobile Home Est. (1-9)
Lot features
Decorative Gravel, North/ South Exposure
Elementary school
Drexel
Middle school
Sierra
High school
Sunnyside
Elementary school district
Sunnyside
Middle school district
Sunnyside
High school district
Sunnyside
Directions
Get on I-10 E from W Speedway Blvd for 2 min (0.8 mi) Continue on I-10 E to Kino Pkwy/South Kino Pkwy. Take exit 263A from I-10 E 5 min (5.1 mi) Take S Campbell Ave to S Stewart Blvd.
Standard status
Active
APN
140-25-3140
Size
1,882 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
From Parcel:140250900 /Nelson Mobile Home Estates II Lot 3
Legal Description
From Parcel:140250900 /Nelson Mobile Home Estates II Lot 3
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
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
(520) 270-6127
Added: Apr 21
Changed: Sep 4
Last Checked: Sep 6 at 3:06AM
MLS# 22610399
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 2025 duplex is under construction and contains 1,882 square feet across two residential units. The larger unit offers 3 bedrooms and 2 baths within 1,079 square feet, while the second unit provides 2 bedrooms and 1 bath in 803 square feet. Each unit includes 2 parking spaces. Interior features include granite countertops, new stainless steel appliances, ceramic tile flooring, central air conditioning, and electric heating. The building uses frame-and-stucco construction with a tile roof and public water service.
The property is located at 5978 S Stewart Boulevard in Tucson, with access to the airport, I-19, and nearby shopping. Zoning is Tucson - MH1. The 0.16-acre site is configured for a duplex use and includes separate residential accommodations within the same building.
The property is located at 5978 S Stewart Boulevard in Tucson, with access to the airport, I-19, and nearby shopping. Zoning is Tucson - MH1. The 0.16-acre site is configured for a duplex use and includes separate residential accommodations within the same building.
Key Highlights
- 2025 duplex under construction with 1,882 square feet
- One 3‑bedroom, 2‑bath unit measuring 1,079 square feet
- Second unit offers 2 bedrooms, 1 bath, and 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
$18,180
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
4.28%
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%
$363,600
$363.6K
Cap Rate 7%
$259,714
$259.7K
Cap Rate 9%
$202,000
$202.0K
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
$28.2K $15.00/SF
− Vacancy
−$2.3K −$1.20/SF
EGI
$26.0K $13.80/SF
− OpEx
−$7.8K −$4.14/SF
NOI
$18.2K $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%
$363,600
Cap Rate 7%
$259,714
Cap Rate 9%
$202,000
Alternative Uses
Best Use
Multifamily LT 5
$259.7K
$227.3K – $303.0K
NOI $18,180 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$230.8K
$201.9K – $269.2K
NOI $16,153 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$389.2K
$340.5K – $454.0K
NOI $27,241 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
238
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
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-unit property with updated finishes, separate parking, and convenient access to area shopping and transportation routes.
Where is this duplex located?
The property is located at 5978 S Stewart Boulevard Tucson, AZ.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2025 duplex under construction with 1,882 square feet; One 3‑bedroom, 2‑bath unit measuring 1,079 square feet; Second unit offers 2 bedrooms, 1 bath, and 803 square feet
