Renovated Duplex with Tenants in
For Sale
Under Contract
$325,000
703 2ND Avenue NW, Ruskin, FL 33570
Residential Income, RUSKIN, FL
Property Size2,136 SF
Lot Size0.28 Acres
Price / SF$152.15
Days on Market26
Property Features for 703 2ND Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RDC-12
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 1
Interior features
Ceiling Fans(s), Thermostat
Subdivision
RUSKIN CITY MAP OF
Directions
GPS
Standard status
Active Under Contract
APN
U-07-32-19-1V5-000000-00167.0
Size
2,136 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RUSKIN CITY MAP OF LOT 167
Tax Annual Amount
3016
Legal Description
RUSKIN CITY MAP OF LOT 167
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Building materials
Block
Roof type
Shingle
Listing Agency:
FLORIDA REALTY
(813) 681-1133
Listed By:
Jada Uludag · License #261563684
(407) 755-7337
Added: Aug 8
Changed: Aug 27
Last Checked: Sep 2 at 9:06AM
MLS# TB8537190
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 in Ruskin, Florida, contains 2,136 square feet across two updated residences. Renovations include the kitchens, bathrooms, flooring, and interior finishes. The property includes six bedrooms, four bathrooms, laundry space, ceiling fans, thermostats, central heating, and central air conditioning. Block construction, a shingle roof, and public water and sewer service complete the physical profile. Tenants are already in place.
The property occupies 0.28 acres at 703 2ND Avenue NW in Ruskin, within Hillsborough County and ZIP Code 33570. The surrounding area provides access to major roadways, shopping, dining, employment centers, schools, and everyday amenities. Zoning is RDC-12, and the home was built in 1970.
The property occupies 0.28 acres at 703 2ND Avenue NW in Ruskin, within Hillsborough County and ZIP Code 33570. The surrounding area provides access to major roadways, shopping, dining, employment centers, schools, and everyday amenities. Zoning is RDC-12, and the home was built in 1970.
Key Highlights
- Duplex with tenants already in place
- 2,136 square feet on 0.28 acres
- Six bedrooms and four 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
$24,932
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
7.67%
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%
$498,640
$498.6K
Cap Rate 7%
$356,171
$356.2K
Cap Rate 9%
$277,022
$277.0K
Market Conditions
NOI Build-Up for 2,136 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
$38.2K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$35.6K $16.67/SF
− OpEx
−$10.7K −$5.00/SF
NOI
$24.9K $11.67/SF
Area
Hillsborough 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%
$498,640
Cap Rate 7%
$356,171
Cap Rate 9%
$277,022
Alternative Uses
Best Use
Multifamily LT 5
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$280.6K
$245.6K – $327.4K
NOI $19,645 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$618.6K
$541.3K – $721.7K
NOI $43,302 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 33570, FL
33,348
Population
14,049
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
41.8 sq mi
ZIP Area
798
Density / Sq Mi
$69,048
Median Household Income
$41,333
Median Earnings
$1,217
Median Rent
$255,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences provide established occupancy, central heating, and central air conditioning.
Where is this duplex located?
The property is located at 703 2ND Avenue NW Ruskin, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Duplex with tenants already in place; 2,136 square feet on 0.28 acres; Six bedrooms and four bathrooms
