Duplex with Updated
For Sale
$385,000
1514 E NORTH BAY Street, Tampa, FL 33610
Residential Income, TAMPA, FL
Property Size1,726 SF
Lot Size0.14 Acres
Price / SF$223.06
Days on Market56
Property Features for 1514 E NORTH BAY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-50
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Dining Room
Parking features
Driveway
Window features
Blinds
Interior features
Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Thermostat
Exterior features
Fence
Fencing
Fenced
Subdivision
BONITA
Elementary school
Edison-HB
Middle school
Sligh-HB
High school
Middleton-HB
Directions
Head south on I-275 S, Take exit 46B toward FL-574/Martin Luther King Jr Blvd, Turn left onto FL-574 E/E Dr Martin Luther King Jr Blvd/E M.L.K. Jr Blvd, Turn left onto N 15th St, Turn right onto E North Bay St, Destination will be on the left.
Standard status
Active
APN
A-06-29-19-4BL-000012-00015.0
Size
1,726 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BONITA LOT 15 BLOCK 12
Tax Annual Amount
4199
Legal Description
BONITA LOT 15 BLOCK 12
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1934
Floors in Building
1
Building materials
Stucco
Roof type
Shingle
Listing Agency:
PEOPLE'S CHOICE REALTY SVC LLC
(813) 933-0677
Listed By:
Smith Desir · License #3190020
(813) 841-9930
Added: Jul 15
Changed: Sep 2
Last Checked: Sep 8 at 7:06PM
MLS# TB8529405
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 contains two separate residences, each configured with 3 bedrooms and 2 bathrooms, for a combined 1,726 square feet of heated space. The building was constructed in 1934 and includes central heating and central air conditioning, open floorplans, living and dining areas, and fenced grounds with driveway parking. Interior updates include a remodeled kitchen completed in 2022, new flooring from 2022, and replacement of the front and rear A/C units in 2022 and 2024, respectively.
Each unit has an individual water meter, while electric service is shared. The property is supplied by public water and public sewer and is zoned RS-50. Its Tampa address provides access to Downtown Tampa, Ybor City, Armature Works, Tampa Riverwalk, hospitals, shopping, dining, entertainment, I-275, and I-4. The sale is offered strictly AS-IS.
Each unit has an individual water meter, while electric service is shared. The property is supplied by public water and public sewer and is zoned RS-50. Its Tampa address provides access to Downtown Tampa, Ybor City, Armature Works, Tampa Riverwalk, hospitals, shopping, dining, entertainment, I-275, and I-4. The sale is offered strictly AS-IS.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units totaling 1,726 heated square feet
- Built in 1934 on a 0.14‑acre lot
- Front A/C replaced in 2022; back A/C replaced in 2024
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
$20,147
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
5.23%
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%
$402,940
$402.9K
Cap Rate 7%
$287,814
$287.8K
Cap Rate 9%
$223,856
$223.9K
Market Conditions
NOI Build-Up for 1,726 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
$30.9K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.8K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.1K $11.67/SF
Area
ZIP 33610
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%
$402,940
Cap Rate 7%
$287,814
Cap Rate 9%
$223,856
Alternative Uses
Best Use
Multifamily LT 5
$287.8K
$251.8K – $335.8K
NOI $20,147 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$251.0K
$219.6K – $292.8K
NOI $17,567 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$398.1K
$348.3K – $464.4K
NOI $27,866 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
Explore this area
Business Placement
Demographics for 33610, FL
45,218
Population
17,995
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
82%
High-School Grad
18.0 sq mi
ZIP Area
2,512
Density / Sq Mi
$49,765
Median Household Income
$34,773
Median Earnings
$1,307
Median Rent
$210,600
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 separately metered residences feature central systems, fenced outdoor space, and driveway parking.
Where is this duplex located?
The property is located at 1514 E NORTH BAY Street Tampa, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom units totaling 1,726 heated square feet; Built in 1934 on a 0.14‑acre lot; Front A/C replaced in 2022; back A/C replaced in 2024
