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    Renovated Duplex with Strong Income Title is generated by Realmo AI

    1015 58th Ave Dr E, Bradenton, FL 34203

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    Fully occupied duplex generating $43,200 gross annual income.

    Type:Multifamily
    Property size:
    1,988 SF
    Price / SF:
    $198/SF
    Added:
    Feb 26, 2026
    Days on Market:
    93
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 1015 58th Ave Dr E

    General Information

    Standard status
    Active
    Size
    1,988 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    Brian Mcbride
    Brian Mcbride

    Listing agent Brian Mcbride License #bk3014081

    Listing office Mcbride Kelly & Associates Llc

    Listing date Feb 26, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mcbride Kelly & Associates Llc

    HighLights

    • Strong in‑place cash flow with an estimated NOI of $30,770 and a ~7.8% in‑place cap rate.
    • Two remodeled, fully occupied 3BR/2BA units providing immediate income.
    • Tenant‑paid utilities create an efficient expense structure.
    • New roof installed in 2023 limits near‑term capital expenditure risk.
    • Priced under $400K, representing a compelling entry point for investors.
    • Suitable for various investment strategies including 1031 exchange, portfolio expansion, or future owner‑occupancy.

    Overview

    This stabilized multifamily asset features two identical, renovated units, each with 3 bedrooms and 2 bathrooms. The property is fully occupied and generates $43,200 in gross annual scheduled income. The estimated net operating income is approximately $30,770, reflecting a cap rate of approximately 7.8%. Both units are currently leased and performing, with rents at $1,800 per month per unit under standard residential leases. Tenants are responsible for water and utilities. A new roof was installed in 2023. The property is suitable for investors seeking stabilized yield in a multifamily asset, with potential exit and financing strategies including DSCR debt, long-term hold, or future owner-occupancy. It is also suitable for 1031 exchange, portfolio expansion, or house-hack strategy. The property size is 1988 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $39.4k $19.80
    − Vacancy −$2.1k −$1.03
    EGI $37.3k $18.77
    − OpEx −$11.2k −$5.63
    NOI $26.1k $13.14
    1,988 SF · lease $19.80/SF/yr · vacancy 5.22% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $373.1K
    $326.4K – $435.3K (±1% cap)
    NOI $26,115 @ 7.0% cap · market cap 6.61%
    Second Best
    Apartment 5plus
    $343.6K
    $300.7K – $400.9K (±1% cap)
    NOI $24,054 @ 7.0% cap · market cap 6.09%
    Theoretical Best
    Office A
    $584.6K
    $511.5K – $682.1K (±1% cap)
    NOI $40,923 @ 7.0% cap · market cap 10.36%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bradenton
    County
    Manatee
    State
    Florida
    Longitude
    -82.5530416
    Latitude
    27.4377557

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    FAQs

    What type of property is this?
    Duplex - Fully occupied duplex generating $43,200 gross annual income.
    Where is this duplex located?
    The property is located at 1015 58th Ave Dr E Bradenton, FL.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Strong in‑place cash flow with an estimated NOI of $30,770 and a ~7.8% in‑place cap rate.; Two remodeled, fully occupied 3BR/2BA units providing immediate income.; Tenant‑paid utilities create an efficient expense structure.
    (813) 493-0507 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Mcbride
    Brian Mcbride
    Real Estate License ID: bk3014081
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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