Duplex with Separate
For Sale
$299,900
2211 22ND Avenue S, St Petersburg, FL 33712
Residential Income, ST PETERSBURG, FL
Property Size1,400 SF
Lot Size0.19 Acres
Price / SF$214.21
Days on Market119
Property Features for 2211 22ND Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2
Interior features
Ceiling Fans(s)
Exterior features
Sidewalk
Subdivision
MEARES G W REV MAP
Directions
Take 34th Street SOUTH; then go EAST on 22nd Ave S to the address.
Standard status
Active
APN
25-31-16-56988-000-0440
Size
1,400 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MEARE'S, G.W. REV. MAP LOT 44 (SEE S26 MAP)
Tax Annual Amount
4144
Legal Description
MEARE'S, G.W. REV. MAP LOT 44 (SEE S26 MAP)
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
enclosed front porch
private fenced backyard
washer/dryer hookup
ample rear parking space
Building Details
Year built
1926
Building materials
Block, Concrete, Frame
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY- PALM H
(727) 772-0772
Listed By:
Damary Rios · License #3398103
(727) 460-4217
Added: May 13
Changed: Sep 3
Last Checked: Sep 8 at 9:06AM
MLS# TB8507696
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 detached residences on a 0.19-acre lot. The front home measures 968 square feet and offers three bedrooms, high ceilings, substantial natural light, an enclosed front porch, ceiling fans, and a washer and dryer connection near the kitchen. Its interior was painted in 2026 and includes laminate flooring installed in 2025. The rear residence is a 432-square-foot, one-bedroom concrete block unit with a fenced backyard.
Separate addresses, electric meters, and water meters support independent occupancy or leasing of each residence. Rear parking is available on the property. The building dates to 1926 and has central heating, central air, a shingle roof, public water, and public sewer. A sidewalk provides pedestrian access, while the property is near downtown St. Petersburg, I-275, shopping, dining, entertainment, and other local amenities.
Separate addresses, electric meters, and water meters support independent occupancy or leasing of each residence. Rear parking is available on the property. The building dates to 1926 and has central heating, central air, a shingle roof, public water, and public sewer. A sidewalk provides pedestrian access, while the property is near downtown St. Petersburg, I-275, shopping, dining, entertainment, and other local amenities.
Key Highlights
- Two separate residences totaling 1,400 square feet on a 0.19‑acre lot
- Front residence measures 968 square feet with 3 bedrooms and an enclosed front porch
- Rear residence is a 432‑square‑foot, 1‑bedroom concrete block unit
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
$16,341
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
5.45%
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%
$326,820
$326.8K
Cap Rate 7%
$233,443
$233.4K
Cap Rate 9%
$181,567
$181.6K
Market Conditions
NOI Build-Up for 1,400 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
$25.0K $17.88/SF
− Vacancy
−$1.7K −$1.21/SF
EGI
$23.3K $16.67/SF
− OpEx
−$7.0K −$5.00/SF
NOI
$16.3K $11.67/SF
Area
Pinellas County, FL
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%
$326,820
Cap Rate 7%
$233,443
Cap Rate 9%
$181,567
Alternative Uses
Best Use
Multifamily LT 5
$233.4K
$204.3K – $272.4K
NOI $16,341 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$183.9K
$161.0K – $214.6K
NOI $12,876 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$364.2K
$318.6K – $424.9K
NOI $25,491 @ 7.0% cap · market cap 8.50%
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
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 33712, FL
26,395
Population
13,055
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
4,124
Density / Sq Mi
$57,729
Median Household Income
$39,589
Median Earnings
$1,440
Median Rent
$300,600
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 detached residences offer independent utility metering, private outdoor space, and flexible leasing arrangements.
Where is this duplex located?
The property is located at 2211 22ND Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two separate residences totaling 1,400 square feet on a 0.19‑acre lot; Front residence measures 968 square feet with 3 bedrooms and an enclosed front porch; Rear residence is a 432‑square‑foot, 1‑bedroom concrete block unit
