None · Tucson, AZ 85719

$475,000

4 bd · 4.0 ba · 2,043 sqft · MultiFamily public records · 86 Days on market

Built 1948 7,405 sqft lot $233/sqft · at area comps Est $499k · at est.

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.7/30.0
• ARV discount +9.7/15.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Located in the heart of Tucson, this Tri-plex presents a fantastic investment or owner-user opportunity with strong income potential and classic Southwest charm. This well-situated property offers convenient access to downtown, the University of Arizona, and major transportation corridors, making it highly desirable for tenants and residents alike. Each space is designed for comfortable living, while the overall property provides flexibility for a variety of uses. On-site parking and low-maintenance outdoor areas add to the appeal. Whether you're looking to expand your investment portfolio or secure a centrally located property with upside potential, this is an opportunity you won't want to miss.

Key facts

• 7,405 sq ft lot
• 3 parking spots
• Built 1948

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (18.4% below list).
• Recommended offer: $387k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.7% in Tucson — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#17 in AZ, #4,502 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, crime F, employment D-.
• Tucson Unified District (4403) (urban): math 14% / reading 23% proficiency, ranked #190 of 249 in AZ (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Roskruge Bilingual Magnet Middle School (math 12% / reading 27%, grade F, #752 of 1,109 statewide, top 70%, 560 students, 67% FRL); Mansfeld Middle Magnet School (math 14% / reading 26%, grade F, #127 of 218 statewide, top 60%, 817 students, 60% FRL); Tucson Magnet High School (math 16% / reading 22%, grade F, #240 of 381 statewide, top 63%, 3,162 students, 52% FRL) — zoned schools at 60% FRL track the district average.
• Market conditions: Rents rising (+1.4%/yr); 160 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 5,268 units permitted in Pima County in 2024 (996 in 5+ unit buildings).
• At $3,874/mo this rent would consume 110% of the median local household income ($42k/yr) (locally 4906% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Pima County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $146k; list at $475k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $387,400 (18.4% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.12%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (median comp): $499,260
• List price: $475,000
• Delta: -4.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
745 E 5th St	0.38mi	3/2.0 (-1)	1,821 (-11%)	4mo	$610,000	$335	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.45% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-75,162
• Equity at exit: $70,824

10-year hold

• IRR: -10.5%
• Equity multiple: 0.40×
• Total profit: $-79,555
• Equity at exit: $41,069

Cash invested: $133,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Arizona: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

5-day pay-or-quit; AZ courts known for speed; no state rent control; cities preempted by state law.

Methodology + full state rankings →

ZIP-level market 85719

• Rents YoY: 1.4%
• Active inventory: 160
• Price-to-rent: 30.7×

Monthly cashflow live

• Estimated rent: $3,874 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$247 /mo · $2,968/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $124

Break-even live

Break-even rent $3,717

Max offer price $475,000

Occupancy floor 92%

Sensitivity live

Price	-10% $393	-5% $259	+0% $124	+5% $-10	+10% $-145
Rent	-10% $-182	-5% $-29	+0% $124	+5% $277	+10% $430
Rate	-1.0pp $363	-0.5pp $245	base $124	+0.5pp $1	+1.0pp $-124

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,873
Total (3 units)			$3,874

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1124 E 10th St Unit 2 Tucson, AZ	4.0	3.0	1556	$2,400	$1.54	45d	1	0.20mi
918 E 6th St Unit 918 Tucson, AZ	4.0	2.0	2477	$2,400	$0.97	19d	1	0.24mi
912 E 6th St Tucson, AZ	4.0	2.5	2477	$2,000	$0.81	45d	1	0.24mi
916 E 6th St Tucson, AZ	3.0	2.0	1800	$1,800	$1.00	19d	1	0.25mi
428 E 9th St Tucson, AZ	5.0	4.0	2154	$3,750	$1.74	45d	1	0.44mi
350 E Congress St Tucson, AZ	3.0	1.0–3.0	930	$2,599	$2.79	3d	37	0.56mi
241 S Cherry Ave Tucson, AZ	4.0	2.0	1490	$1,995	$1.34	45d	1	0.61mi
635 Harvill Dr Unit 109 Tucson, AZ	3.0	2.5	1900	$2,500	$1.32	45d	1	0.64mi
624 E 2nd St Tucson, AZ	3.0	2.0	1813	$3,300	$1.82	45d	1	0.67mi
1017 N 1st Ave Tucson, AZ	5.0	2.0	2460	$2,900	$1.18	5d	1	0.79mi
1055 N 3rd Ave Tucson, AZ	5.0	2.0	1839	$3,250	$1.77	45d	1	0.91mi
1046 N 4th Ave Unit 2 Tucson, AZ	3.0	3.0	1600	$1,895	$1.18	45d	1	0.94mi
519 N Olsen Ave Tucson, AZ	3.0	2.0	1400	$3,500	$2.50	45d	1	0.97mi
1017 N 6th Ave Tucson, AZ	4.0	2.5	1628	$1,800	$1.11	18d	1	1.05mi
1321 N Euclid Ave Tucson, AZ	4.0	2.0	2000	$1,895	$0.95	45d	1	1.06mi
1348 N Euclid Ave Tucson, AZ	5.0	3.0	1531	$3,000	$1.96	16d	1	1.07mi
929 S 4th Ave Tucson, AZ	3.0	1.0	1795	$1,700	$0.95	45d	1	1.08mi
1201 E Drachman St Tucson, AZ	1.0–4.0	1.0–4.5	1157	$1,990	$1.72	13d	19	1.13mi
2010 E 1st St Tucson, AZ	3.0	4.0	2250	$3,600	$1.60	45d	1	1.13mi
739 N Queen Ave Unit 1 Tucson, AZ	4.0	3.0	1765	$2,995	$1.70	25d	1	1.21mi
739 N Queen Ave Unit 2 Tucson, AZ	4.0	3.0	1765	$2,995	$1.70	18d	1	1.21mi
1000 E 22nd St Tucson, AZ	2.0–6.0	2.5–6.5	1891	$1,174	$0.62	45d	53	1.24mi
1930 E Mabel St Tucson, AZ	3.0	2.0	1614	$1,975	$1.22	5d	1	1.28mi
70 W 21st St Tucson, AZ	3.0	2.0	1657	$2,295	$1.39	5d	1	1.31mi
832 E Lester St Tucson, AZ	4.0	3.0	2010	$3,000	$1.49	4d	1	1.34mi
832 E Lester St Tucson, AZ	4.0	3.0	2010	$3,000	$1.49	45d	1	1.34mi
1415 E Elm St Unit 01 Tucson, AZ	4.0	3.0	1800	$2,000	$1.11	16d	1	1.35mi
642 E Lester St Tucson, AZ	4.0	2.0	1529	$2,000	$1.31	45d	1	1.36mi
722 N Tucson Blvd Tucson, AZ	5.0	5.5	2800	$3,999	$1.43	21d	1	1.38mi
722 N Tucson Blvd Tucson, AZ	5.0	5.5	2476	$3,999	$1.62	25d	1	1.38mi
1840 N Santa Rita Ave Tucson, AZ	4.0	3.0	1881	$2,400	$1.28	25d	1	1.42mi
1415 E Lester St #2 Tucson, AZ	4.0	2.0	1800	$2,000	$1.11	25d	1	1.42mi
117 N Sawtelle Ave Tucson, AZ	3.0	2.0	1500	$2,400	$1.60	5d	1	1.43mi
1304 E Linden St Tucson, AZ	4.0	2.0	1500	$3,300	$2.20	45d	1	1.44mi
426 S Stratford Dr Tucson, AZ	5.0	3.0	1555	$3,500	$2.25	5d	1	1.46mi
1941 E Lee St Tucson, AZ	3.0	3.0	1620	$3,300	$2.04	45d	1	1.49mi
1104 E Waverly St Tucson, AZ	5.0	3.0	2671	$3,375	$1.26	45d	1	1.49mi
1036 N 13th Ave Unit A Tucson, AZ	3.0	2.0	2200	$1,650	$0.75	25d	1	1.50mi

Listing history 19 events

1. 2026-06-21
   days on market $475,000 Active 86 DOM
2. 2026-06-18
   days on market $475,000 Active 83 DOM
3. 2026-06-17
   days on market $475,000 Active 82 DOM
4. 2026-06-16
   days on market $475,000 Active 81 DOM
5. 2026-06-15
   days on market $475,000 Active 80 DOM
6. 2026-06-13
   days on market $475,000 Active 78 DOM
7. 2026-06-10
   days on market $475,000 Active 75 DOM
8. 2026-06-09
   days on market $475,000 Active 74 DOM
9. 2026-06-08
   days on market $475,000 Active 73 DOM
10. 2026-06-07
    days on market $475,000 Active 72 DOM
11. 2026-06-05
    days on market $475,000 Active 69 DOM
12. 2026-06-03
    days on market $475,000 Active 68 DOM
13. 2026-06-02
    days on market $475,000 Active 67 DOM
14. 2026-06-01
    days on market $475,000 Active 66 DOM
15. 2026-05-31
    days on market $475,000 Active 65 DOM
16. 2026-04-20
    status Active 705-char remark

    Show marketing remark (705 chars)

    Located in the heart of Tucson, this Tri-plex presents a fantastic investment or owner-user opportunity with strong income potential and classic Southwest charm. This well-situated property offers convenient access to downtown, the University of Arizona, and major transportation corridors, making it highly desirable for tenants and residents alike. Each space is designed for comfortable living, while the overall property provides flexibility for a variety of uses. On-site parking and low-maintenance outdoor areas add to the appeal. Whether you're looking to expand your investment portfolio or secure a centrally located property with upside potential, this is an opportunity you won't want to miss.

17. 2026-04-06
    historical Active Contingent 705-char remark

    Show marketing remark (705 chars)

    Located in the heart of Tucson, this Tri-plex presents a fantastic investment or owner-user opportunity with strong income potential and classic Southwest charm. This well-situated property offers convenient access to downtown, the University of Arizona, and major transportation corridors, making it highly desirable for tenants and residents alike. Each space is designed for comfortable living, while the overall property provides flexibility for a variety of uses. On-site parking and low-maintenance outdoor areas add to the appeal. Whether you're looking to expand your investment portfolio or secure a centrally located property with upside potential, this is an opportunity you won't want to miss.

18. 2026-03-27
    listed $475,000 Active 705-char remark

    Show marketing remark (705 chars)

    Located in the heart of Tucson, this Tri-plex presents a fantastic investment or owner-user opportunity with strong income potential and classic Southwest charm. This well-situated property offers convenient access to downtown, the University of Arizona, and major transportation corridors, making it highly desirable for tenants and residents alike. Each space is designed for comfortable living, while the overall property provides flexibility for a variety of uses. On-site parking and low-maintenance outdoor areas add to the appeal. Whether you're looking to expand your investment portfolio or secure a centrally located property with upside potential, this is an opportunity you won't want to miss.

19. 1988-04-01
    soldstatus $146,018

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AZ · Resets to sale price

• Current annual tax: $2,968 · $247/mo
• Projected year-2 tax: $3,135 · $261/mo
• Expected delta: +$167/yr (+$14/mo · 5.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,488
• − Mortgage interest: −$26,607
• − Property taxes: −$2,968
• − Insurance: −$2,375
• − Repairs & maintenance: −$3,719
• − Management: −$3,719
• − Depreciation: −$13,818
• Taxable loss: −$6,719
• Est. tax savings @ 24.0%: +$1,613
• After-tax cash flow: $3,103/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Tucson Unified District (4403)
• NCES district ID: 0408800
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 23% ▼ -11.00%
• Median HH income: $40,962
• Composite: 15.78/100
• National rank: #9270
• State rank: #190 of 249 in AZ

Livability — Tucson

• Score: 74/100
• State rank: #17
• US rank: #4502

Category grades

Amenities B Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tucson, AZ
• County: Pima County · 1,012,107 people
• City population: 839,336
• Metro: Tucson, AZ
• Population (ZIP): 51,833
• Household income: $42,241
• Rent vs Own: 72.1% rent · 27.9% own
• Severe rent burden: 4906.0

Population outlook (Pima County) Hauer SSP2

• Today (2025): 1,066,056 people
• By 2030: 1,086,684 · +1.9%
• By 2040: 1,117,160 · +4.8%
• By 2050: 1,149,778 · +7.9%
• By 2075: 1,271,480 · +19.3%
• By 2100: 1,321,160 · +23.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 26% Two or more races 13% Asian 6% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 20% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 77% English-only · Spanish 14% Other Indo-European 2% Chinese 2%

Political lean MEDSL · Pima

• 2024 margin: D (+15.2) · D 57.0% · R 41.8% · Other 1.2%
• 2008→2024 swing: +9.1pp toward D · 2008: 6.1pp · 2024: 15.2pp
• All cycles: 2024: D+15.2 2020: D+18.7 2016: D+13.5 2012: D+5.8 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -545.74%
• Current HPI: 279.865
• Rent YoY: ▲ 1.45%
• Metro: Tucson, AZ
• State GDP YoY: ▲ 4.54%
• F500 in state: 20

Industry mix (Fortune 500 HQ in AZ)

Industry	F500 HQs	Revenue
▸Technology	2	$13B
▸Mining / Metals	1	$23B
▸Environmental Services	1	$16B
▸Metals / Steel	1	$14B
▸Technology Distribution	1	$9B
▸Homebuilding	1	$8B

Price history

+225.3% since first listed

4 events — show timeline

• 2026-04-20 Relisted — MLSSAZ
• 2026-04-06 Contingent — MLSSAZ
• 2026-03-27 Listed $475,000 MLSSAZ
• 1988-04-01 Sold (Public Records) $146,018 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,968 · +4.2% YoY. Source: county tax records.