Two-Story Duplex with Shared
For Sale
$499,000
1059 5th St N, St Petersburg, FL 33701
Income-producing duplex with separate upper and lower residences, shared laundry, storage, and a fenced outdoor area.
Property Size1,820 SF
Price / SF$274.18
Days on Market75
Property Features for 1059 5th St N
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,167
Amenities
shared laundry room
shared fenced yard
Building Details
Buildings
1
Listing Agency:
REAL BROKER, LLC
(941) 400-0101
Listed By:
D.J. Bryant · License #3415242
(941) 400-0101
Source:
Exprealty
Added: Jun 4
Changed: Aug 15
Last Checked: Aug 16 at 2:25PM
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 REAL BROKER, LLC
Investment Insights
Based on property information with market context.
This two-level duplex contains 1,820 square feet across two separate residences. The upper apartment includes two bedrooms and two bathrooms, while the lower apartment provides one bedroom and one bathroom. Both units offer substantial living areas, and the property includes a communal laundry room with additional storage. A fenced shared yard serves both residences. Professional management is currently established and may remain in place.
The property is in Uptown, a few blocks from Crescent Lake, Downtown St. Pete, and the retail and dining along 4th Street. Downtown St. Pete is less than 5 minutes away, while Downtown Tampa and the Gulf Beaches are each under 30 minutes from the property.
The property is in Uptown, a few blocks from Crescent Lake, Downtown St. Pete, and the retail and dining along 4th Street. Downtown St. Pete is less than 5 minutes away, while Downtown Tampa and the Gulf Beaches are each under 30 minutes from the property.
Key Highlights
- Two residences totaling 1,820 square feet
- Upper unit includes 2 bedrooms and 2 bathrooms
- Lower unit includes 1 bedroom and 1 bathroom
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
$21,244
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
4.26%
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%
$424,880
$424.9K
Cap Rate 7%
$303,486
$303.5K
Cap Rate 9%
$236,044
$236.0K
Market Conditions
NOI Build-Up for 1,820 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
$32.5K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.3K $16.67/SF
− OpEx
−$9.1K −$5.00/SF
NOI
$21.2K $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%
$424,880
Cap Rate 7%
$303,486
Cap Rate 9%
$236,044
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,244 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$239.1K
$209.2K – $279.0K
NOI $16,739 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$473.4K
$414.2K – $552.3K
NOI $33,138 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,933
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
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 - Income-producing duplex with separate upper and lower residences, shared laundry, storage, and a fenced outdoor area.
Where is this duplex located?
The property is located at 1059 5th St N St Petersburg, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two residences totaling 1,820 square feet; Upper unit includes 2 bedrooms and 2 bathrooms; Lower unit includes 1 bedroom and 1 bathroom
