Updated Duplex with Private
For Sale
$289,000
624 N Columbus Boulevard, Tucson, AZ 85711
Residential Income, Ranch, Tucson, AZ
Property Size1,244 SF
Lot Size0.18 Acres
Price / SF$232.32
Days on Market55
Property Features for 624 N Columbus Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Tucson - R1
Parking
2
Window features
Double Pane Windows
Appliances
Electric Range, Dishwasher, Disposal, Refrigerator
Subdivision
Sahuaro Hill Annex
Lot features
Decorative Gravel, Adjacent to Alley, East/ West Exposure
View
City
Elementary school
Howell
Middle school
Alice Vail
High school
Rincon
Elementary school district
TUSD
Middle school district
TUSD
High school district
TUSD
Directions
Speedway/Columbus, South to property on East side of the street.
Standard status
Active
APN
126042540
Size
1,244 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SAHUARO HILL ANNEX LOT 15 BLK 2
Legal Description
SAHUARO HILL ANNEX LOT 15 BLK 2
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private backyard
Building Details
Year built
1948
Number of units
2
Flooring type
Carpet, Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
Tierra Antigua Realty
(520) 544-2335
Listed By:
Carlos Taplin
(520) 331-8351
Added: Jul 22
Changed: Sep 13
Last Checked: Sep 14 at 11:06PM
MLS# 22617967
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 1,244-square-foot duplex sits on a 0.18-acre parcel in central Tucson. Built in 1948 with block construction and ranch styling, the property includes two residential units with updated kitchens, bathrooms, and windows. Ceramic tile is used throughout the units, with carpet also present. Each residence has a private backyard and access to on-site parking.
The property is approximately a 10-minute drive from the University and is located in the Tucson - R1 zoning district. Building systems include forced-air natural gas heating, central air conditioning, public water, and shingle roofing. Appliances include electric ranges, dishwashers, disposals, and refrigerators.
The property is approximately a 10-minute drive from the University and is located in the Tucson - R1 zoning district. Building systems include forced-air natural gas heating, central air conditioning, public water, and shingle roofing. Appliances include electric ranges, dishwashers, disposals, and refrigerators.
Key Highlights
- 1,244‑square‑foot duplex on a 0.18‑acre parcel
- Both units have updated kitchens, bathrooms, and windows
- Private backyard assigned to each unit
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
2
Residential units
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
Check the figures for this property
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 residential units feature renovated interiors, individual outdoor space, and on-site parking in central Tucson.
Where is this duplex located?
The property is located at 624 N Columbus Boulevard 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 on a 0.18‑acre parcel; Both units have updated kitchens, bathrooms, and windows; Private backyard assigned to each unit
