Updated Duplex with Private
For Sale
$289,000
624 N Columbus Blvd, Tucson, AZ 85711
Two-unit property with renovated interiors, tile flooring, separate outdoor space, and on-site parking.
Property Size1,244 SF
Price / SF$232.32
Days on Market63
Property Features for 624 N Columbus Blvd
General Information
Standard status
Active
Size
1,244 SF
Property subtype
Multi-Family
Amenities
updated kitchens
updated bathrooms
updated windows
tile floors
private backyard
Building Details
Year Built
1948
Tenancy
Multi
Listing Agency:
Tierra Antigua Realty
Listed By:
Carlos Taplin
(520) 869-5585
Source:
Findahomeaz
Added: Jul 17
Changed: Sep 9
Last Checked: Sep 16 at 9:44PM
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 Tierra Antigua Realty
Investment Insights
Based on property information with market context.
This 1,244-square-foot duplex includes two units, each with updated kitchens, bathrooms, and windows. Tile flooring runs throughout both units, and each has its own private backyard and on-site parking.
The property is located at 624 N Columbus Blvd in central Tucson, approximately a 10-minute drive from the University. The two-unit configuration supports an owner-occupant arrangement with one unit available for rent, as described in the property information.
The property is located at 624 N Columbus Blvd in central Tucson, approximately a 10-minute drive from the University. The two-unit configuration supports an owner-occupant arrangement with one unit available for rent, as described in the property information.
Key Highlights
- 1,244‑square‑foot duplex in central Tucson
- Both units feature updated kitchens, bathrooms, and windows
- Tile floors throughout both units
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
$13,940
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
4.82%
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%
$278,800
$278.8K
Cap Rate 7%
$199,143
$199.1K
Cap Rate 9%
$154,889
$154.9K
Market Conditions
NOI Build-Up for 1,244 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
$21.6K $17.40/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$19.9K $16.01/SF
− OpEx
−$6.0K −$4.80/SF
NOI
$13.9K $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%
$278,800
Cap Rate 7%
$199,143
Cap Rate 9%
$154,889
Alternative Uses
Best Use
Multifamily LT 5
$199.1K
$174.3K – $232.3K
NOI $13,940 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$182.6K
$159.8K – $213.0K
NOI $12,782 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$323.2K
$282.8K – $377.0K
NOI $22,621 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,057
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with renovated interiors, tile flooring, separate outdoor space, and on-site parking.
Where is this duplex located?
The property is located at 624 N Columbus Blvd Tucson, AZ.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,244‑square‑foot duplex in central Tucson; Both units feature updated kitchens, bathrooms, and windows; Tile floors throughout both units
