Remodeled Duplex with Private
For Sale
Under Contract
$305,000
10123 N 11TH Street, Tampa, FL 33612
Residential Income, TAMPA, FL
Property Size1,248 SF
Lot Size0.14 Acres
Price / SF$244.39
Days on Market27
Property Features for 10123 N 11TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-50
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Family Room, Laundry Room, Bedroom 1, Dining Room, Bedroom 2, Bathroom 2
Window features
Blinds
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Thermostat
Exterior features
Fence, Lighting, Private Mailbox, Sidewalk
Fencing
Fenced
Accessibility
Accessible Elevator Installed, Accessible Approach with Ramp
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
CASTLE HEIGHTS MAP
Lot features
Corner Lot, City Limits, Near Public Transit, Oversized Lot, Sidewalk, Paved
Directions
Continue north and merge onto I-275 N, then take Exit 50 for Busch Blvd (FL-580 E). Drive east on Busch Blvd and turn left onto N 11th Street. Continue north for about 1 mile, and 10123 N 11th St, Tampa, FL 33612 will be on your right. The drive is typically about 20-25 minutes, depending on traffic.
Standard status
Active Under Contract
APN
A-18-28-19-453-Z00000-00001.0
Size
1,248 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CASTLE HEIGHTS MAP LOTS 1 AND 2 BLOCK Z
Tax Annual Amount
2311
Legal Description
CASTLE HEIGHTS MAP LOTS 1 AND 2 BLOCK Z
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
fenced yard
washer/dryer hookups
granite countertops
tile flooring
Building Details
Year built
1972
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Shingle
Listing Agency:
REALTY BLU
(813) 221-4890
Listed By:
Gabriel Molinet · License #3351376
(813) 260-0587
Added: Aug 12
Changed: Sep 4
Last Checked: Sep 7 at 8:06PM
MLS# TB8538398
Copyright © 2026 Stellar MLS. 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 1,248-square-foot duplex on a 0.14-acre lot includes two residential units, with tile flooring throughout and separate washer and dryer hookups for each unit. One unit has a remodeled kitchen with shaker cabinetry, granite countertops, and a fenced private yard. The other includes refreshed kitchen and bathroom finishes. Interior features include open-plan living areas, solid wood cabinetry, solid surface counters, ceiling fans, and central air conditioning. The block-built property also has a patio, porch, shingle roof, public water, and public sewer.
Located at 10123 N 11TH Street in Tampa, the property includes sidewalk access, exterior lighting, a private mailbox, and additional side yard area. RS-50 zoning applies. The home was built in 1972 and includes an accessible approach with ramp and an installed elevator.
Located at 10123 N 11TH Street in Tampa, the property includes sidewalk access, exterior lighting, a private mailbox, and additional side yard area. RS-50 zoning applies. The home was built in 1972 and includes an accessible approach with ramp and an installed elevator.
Key Highlights
- 1,248 square feet on a 0.14‑acre lot
- Duplex with separate washer and dryer hookups for each unit
- One unit features shaker cabinetry, granite countertops, and a fenced private yard
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
$14,567
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
4.78%
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%
$291,340
$291.3K
Cap Rate 7%
$208,100
$208.1K
Cap Rate 9%
$161,856
$161.9K
Market Conditions
NOI Build-Up for 1,248 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
$22.3K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.8K $16.67/SF
− OpEx
−$6.2K −$5.00/SF
NOI
$14.6K $11.67/SF
Area
ZIP 33612
Vacancy
6.74%
Lease Rate
$17.88 /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%
$291,340
Cap Rate 7%
$208,100
Cap Rate 9%
$161,856
Alternative Uses
Best Use
Multifamily LT 5
$208.1K
$182.1K – $242.8K
NOI $14,567 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$193.5K
$169.3K – $225.7K
NOI $13,544 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$284.3K
$248.8K – $331.7K
NOI $19,900 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with separate laundry hookups, tile flooring, and RS-50 zoning in Tampa.
Where is this duplex located?
The property is located at 10123 N 11TH Street Tampa, FL.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,248 square feet on a 0.14‑acre lot; Duplex with separate washer and dryer hookups for each unit; One unit features shaker cabinetry, granite countertops, and a fenced private yard
