Duplex with Separate Utility
For Sale
$525,000
Pending
1508 ARIES Lane, Clearwater, FL 33755
MULTI_FAMILY - CLEARWATER, FL
Property Size2,368 SF
Lot Size0.19 Acres
Days on Market60
Property Features for 1508 ARIES Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Dining Room, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 4
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo, Thermostat, Window Treatments
Exterior features
Awning(s)
Subdivision
SKYCREST GREENS
Directions
From US Hwy 19 N, head west on Sunset Point Rd, turn right onto Highland Ave, then right onto Erin Ln. Property will be on the left.
Standard status
Pending
APN
11-29-15-82630-000-0070
Size
2,368 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SKYCREST GREENS LOT 7
Tax Annual Amount
5990
Legal Description
SKYCREST GREENS LOT 7
Utilities
Sewer type
Public Sewer
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Building materials
Concrete, Stucco
Roof type
Shingle
Listing Agency:
CAPSTONE REALTY & ASSOCIATES
(727) 301-7855
Listed By:
Joanne Pucci · License #3221041
(727) 657-7692
Added: Jun 12
Changed: Aug 4
Last Checked: Aug 10 at 8:06AM
MLS# TB8515023
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 duplex includes two separate units, each with two bedrooms and two bathrooms, plus a private washer and dryer located in the garage. Separate water and electric meters help simplify property management and reduce shared-utility complexity. Unit 1508 is vacant, and Unit 1510 is tenant-occupied. Construction includes concrete and stucco, with a shingle roof and central electric HVAC.
The property sits on a quiet cul-de-sac in a non-flood zone. Parking is provided via a driveway, and the exterior features include an awning and a porch. Utilities include public water and public sewer.
Built in 1972, the duplex offers an uncomplicated two-unit layout with in-garage laundry for each unit, supporting day-to-day rental operations for an owner or investor.
The property sits on a quiet cul-de-sac in a non-flood zone. Parking is provided via a driveway, and the exterior features include an awning and a porch. Utilities include public water and public sewer.
Built in 1972, the duplex offers an uncomplicated two-unit layout with in-garage laundry for each unit, supporting day-to-day rental operations for an owner or investor.
Key Highlights
- Two‑unit duplex with separate water and electric meters
- Unit 1508 is vacant; Unit 1510 is tenant‑occupied
- Each unit has two bedrooms, two bathrooms, and private washer/dryer in the garage
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
$32,662
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
6.22%
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%
$653,240
$653.2K
Cap Rate 7%
$466,600
$466.6K
Cap Rate 9%
$362,911
$362.9K
Market Conditions
NOI Build-Up for 2,368 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
$49.7K $21.00/SF
− Vacancy
−$3.1K −$1.30/SF
EGI
$46.7K $19.70/SF
− OpEx
−$14.0K −$5.91/SF
NOI
$32.7K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$653,240
Cap Rate 7%
$466,600
Cap Rate 9%
$362,911
Alternative Uses
Best Use
Multifamily LT 5
$466.6K
$408.3K – $544.4K
NOI $32,662 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$417.5K
$365.3K – $487.1K
NOI $29,226 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$664.4K
$581.3K – $775.1K
NOI $46,505 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
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 - Duplex with two units, private washer and dryer in the garage, and separate water and electric meters.
Where is this duplex located?
The property is located at 1508 ARIES Lane Clearwater, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex with separate water and electric meters; Unit 1508 is vacant; Unit 1510 is tenant‑occupied; Each unit has two bedrooms, two bathrooms, and private washer/dryer in the garage
