Renovated Income
For Sale
$144,999
Pending
1860 MASSACHUSETTS Avenue NE, St Petersburg, FL 33703
Residential, ST PETERSBURG, FL
Property Size610 SF
Lot Size3.08 Acres
Days on Market766
Property Features for 1860 MASSACHUSETTS Avenue NE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Pets allowed
Cats OK, Dogs OK
Interior features
Thermostat, Walk-In Closet(s)
Exterior features
Balcony
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
REGENCY CONDO THE
Directions
Turn left onto Overlook Dr NE then left onto Chancellor St NE continue to right onto Chancellor Cir NE
Standard status
Pending
APN
04-31-17-74075-000-2140
Size
610 SF
Lot size
3.08 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
REGENCY CONDO, THE UNIT 214
Tax Annual Amount
367
Legal Description
REGENCY CONDO, THE UNIT 214
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Water front features
Lake Front
Water front
1
Amenities
pool
common leisure lounge with restroom
secure bicycle storage
high-tech security system
laundry facilities on every floor
Building Details
Year built
1974
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Listing Agency:
BEYCOME OF FLORIDA LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Added: Jul 24, 2024
Changed: Aug 20
Last Checked: Aug 28 at 5:06AM
MLS# O6226609
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 610-square-foot condominium includes one bedroom and one bathroom, with a walk-in closet, tiled bathroom shower, storage vanity, ceramic tile flooring, central air, electric heat, and a private balcony. The residence also includes a dishwasher, disposal, microwave, range, and refrigerator. Constructed in 1974 with block materials, the building is served by public water and public sewer.
Community features include a lakefront pool, shared lounge with restroom, secure bicycle storage, building-wide camera security, elevator service, and laundry facilities on every floor. One reserved parking space accompanies the unit, with additional parking available. Association services include water, sewer, trash, building insurance, flood insurance, and maintenance. The community is open to all ages, and leasing does not require a prior ownership period. A Phase I milestone structural inspection has passed, and a structural integrity reserve study is complete.
Community features include a lakefront pool, shared lounge with restroom, secure bicycle storage, building-wide camera security, elevator service, and laundry facilities on every floor. One reserved parking space accompanies the unit, with additional parking available. Association services include water, sewer, trash, building insurance, flood insurance, and maintenance. The community is open to all ages, and leasing does not require a prior ownership period. A Phase I milestone structural inspection has passed, and a structural integrity reserve study is complete.
Key Highlights
- 610 square feet with one bedroom and one bathroom
- Lakefront community with pool overlooking the lake
- One reserved assigned parking space plus additional parking
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
$5,610
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
3.87%
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%
$112,200
$112.2K
Cap Rate 7%
$80,143
$80.1K
Cap Rate 9%
$62,333
$62.3K
Market Conditions
NOI Build-Up for 610 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
$11.0K $18.00/SF
− Vacancy
−$780 −$1.28/SF
EGI
$10.2K $16.72/SF
− OpEx
−$4.6K −$7.52/SF
NOI
$5.6K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$112,200
Cap Rate 7%
$80,143
Cap Rate 9%
$62,333
Alternative Uses
Best Use
Apartment 5plus
$80.1K
$70.1K – $93.5K
NOI $5,610 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.7K
$138.8K – $185.1K
NOI $11,107 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
162
Businesses Nearby
Explore this area
Business Placement
Demographics for 33703, FL
23,948
Population
12,331
Households
1.9
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
4,790
Density / Sq Mi
$96,795
Median Household Income
$56,760
Median Earnings
$1,569
Median Rent
$395,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Lakefront condominium with a balcony, reserved parking, elevator access, and on-site laundry facilities.
Where is this residential income property located?
The property is located at 1860 MASSACHUSETTS Avenue NE St Petersburg, FL.
What is the asking price?
The asking price for this property is $144,999.
What are key features of this property?
This property features: 610 square feet with one bedroom and one bathroom; Lakefront community with pool overlooking the lake; One reserved assigned parking space plus additional parking
