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The opportunity to build the investment property of your dreams.

1649 E 13th St., Tucson, AZ 85719

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City approved plans to build a new duplex, a new SFR, and a complete remodel of the existing house.

5,765 Sqft

16 Beds

8 Baths

Recently Completed Builds

Existing House

Development Pro Forma

Property Details

Development Details

Development Budget

Development Rental Assumptions

Pro Forma Income Statement Annualized

Address

City/State

Lot Size (ac)

Zoning

Building SF

Beds

Bath

Current Lease

Lease Rate

End of Lease Term

1649 E 13th St

Tucson, AZ

0.34

R-2

1,482

4

2

$1,500

4/30/2023

Bath

2

2

4

2

2

8

Bed

4

4

8

4

4

16

Plans Approved

 

SqFt

1,482

1,428

2,855

1,428

1,428

5,765

Status

Project Details

Remodel

Current Home

New Development

New Build SFR

New Build Duplex

Unit 1

Unit 2

Total

Purchase Price

Assumptions

Remodel Cost (per sf)

New-build Cost (per sf)

Development Cost

Purchase Price

Remodel of Existing Home

Construction of New SFR

Construction of Duplex

Total Investment

$450,000

$30

$175

Total

$450,000

$44,460

$249,900

$499,625

$1,243,985

Per Sf

304

30

175

175

*Development cost is based on actual developments of similar projects and includes 20% GC fee paid to contractor

Per Sf

1.35

1.75

1.65

1.65

1.65

Total

$2,000

$2,500

$4,700

$2,350

$2,350

$9,200

Rental Rates

Current Home (Remodeled)

New SFR

New Duplex

Unit 1

Unit 2

Total

Gross Rental Income

Less Operating Expenses

Vacancy

Property Taxes (reassessed est.)

Insurance

Maintenance

Property Management

Net Operating Income

Development Cap Rate

Market Cap Rate

Spread

 

5%

4%

3%

7%

8%

$110,400

($5,520)

($4,416)

($3,312)

($7,728)

($8,832)

$80,592

6.48%

5.00%

1.48%

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