Remodeled Triplex With RV
New
For Sale
$699,990
15501 61ST Street N, Clearwater, FL 33760
MULTI_FAMILY - CLEARWATER, FL
Property Size2,512 SF
Lot Size0.37 Acres
Price / SF$278.66
Days on Market3
Property Features for 15501 61ST Street N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-4
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 2, Dining Room, Bathroom 1, Bedroom 6, Bedroom 3, Family Room, Bathroom 2, Bedroom 7
Parking features
RV
Pets allowed
Yes
Interior features
Ceiling Fans(s), Kitchen/Family Room Combo, Living Room/Dining Room Combo
Exterior features
Fence, Private Mailbox, Private Yard, RV Hookup, Sidewalk
Fencing
Fenced
Subdivision
MUNDAYS ADD TO FOUR PINES
Elementary school
High Point Elementary-PN
Middle school
Fitzgerald Middle-PN
High school
Pinellas Park High-PN
Directions
Take I-275 to Exit 31 for FL-688 W / Roosevelt Blvd. Head west on Roosevelt Blvd for approximately 3.5 miles. Turn right onto 150th Ave N, then turn left onto 61st St N. The property will be on your right at 15501 61st St N.
Standard status
Active
APN
32-29-16-59436-007-0050
Size
2,512 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MUNDAY'S ADD TO FOUR PINES BLK 7, LOTS 5 AND 16
Tax Annual Amount
5866
Legal Description
MUNDAY'S ADD TO FOUR PINES BLK 7, LOTS 5 AND 16
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Flooring type
Vinyl, Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Carissa White
(253) 293-4590
Added: Aug 13
Changed: Aug 15
Last Checked: Aug 15 at 2:06PM
MLS# TB8538782
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 2,512-square-foot triplex sits on a 0.37-acre double lot and comprises two concrete-block buildings. The unit mix includes one two-bedroom residence with a bonus room and two two-bedroom, one-bath units. Interior updates include tile flooring, refreshed kitchens with granite islands, and renovated bathrooms. Each residence has central air conditioning, while water and electric service are separately metered. A shingle roof was installed in 2018, followed by permitted solar panels in 2021.
The property also includes a fenced RV pad, public water and sewer, private yard space, sidewalk access, and RV parking. Completing the pad’s basic power and water connections remains part of the stated scope. The site is in unincorporated Pinellas County and is zoned R-4, with no HOA identified in the property information. US-19, St. Pete-Clearwater International Airport, downtown Clearwater, and Gulf beaches are described as minutes away.
The property also includes a fenced RV pad, public water and sewer, private yard space, sidewalk access, and RV parking. Completing the pad’s basic power and water connections remains part of the stated scope. The site is in unincorporated Pinellas County and is zoned R-4, with no HOA identified in the property information. US-19, St. Pete-Clearwater International Airport, downtown Clearwater, and Gulf beaches are described as minutes away.
Key Highlights
- 2,512 heated SF triplex on a 0.37‑acre double lot
- Three units: one 2BR with bonus room plus two 2/1 residences
- Two concrete‑block buildings with remodeled kitchens and bathrooms
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
$34,648
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
4.95%
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%
$692,960
$693.0K
Cap Rate 7%
$494,971
$495.0K
Cap Rate 9%
$384,978
$385.0K
Market Conditions
NOI Build-Up for 2,512 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
$52.8K $21.00/SF
− Vacancy
−$3.3K −$1.30/SF
EGI
$49.5K $19.70/SF
− OpEx
−$14.8K −$5.91/SF
NOI
$34.6K $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%
$692,960
Cap Rate 7%
$494,971
Cap Rate 9%
$384,978
Alternative Uses
Best Use
Multifamily LT 5
$495.0K
$433.1K – $577.5K
NOI $34,648 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$442.9K
$387.5K – $516.7K
NOI $31,003 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$704.8K
$616.7K – $822.2K
NOI $49,333 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 33760, FL
19,565
Population
8,779
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
5.6 sq mi
ZIP Area
3,494
Density / Sq Mi
$59,489
Median Household Income
$39,509
Median Earnings
$1,446
Median Rent
$245,800
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?
Triplex - Three remodeled residences occupy two concrete-block buildings with central air, separate utility meters, and a fenced RV area.
Where is this triplex located?
The property is located at 15501 61ST Street N Clearwater, FL.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: 2,512 heated SF triplex on a 0.37‑acre double lot; Three units: one 2BR with bonus room plus two 2/1 residences; Two concrete‑block buildings with remodeled kitchens and bathrooms
