Occupied Duplex with Private
For Sale
$459,900
1109 E ROHE Street, Tarpon Springs, FL 34689
Residential Income, TARPON SPRINGS, FL
Property Size1,680 SF
Lot Size0.25 Acres
Price / SF$273.75
Days on Market135
Property Features for 1109 E ROHE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Family Room, Bedroom 3, Bathroom 2, Bedroom 1, Laundry Room, Bathroom 1, Bedroom 4
Parking features
Off Street, Driveway
Patio and Porch features
Patio, Porch
Pets allowed
Yes
Interior features
Ceiling Fans(s), High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Thermostat
Exterior features
Fence, Lighting, Sliding Doors
Fencing
Fenced
Appliances
Dishwasher, Electric Water Heater, Range, Refrigerator
Subdivision
LAKE BUTLER VILLA COS SUB
Lot features
Corner Lot, Cul-De-Sac, In County, Near Golf Course, Near Marina, Near Public Transit, Oversized Lot, Private, Paved, Unincorporated
View
City
Elementary school
Tarpon Springs Elementary-PN
Middle school
Tarpon Springs Middle-PN
High school
Tarpon Springs High-PN
Directions
norht on HWY 19, east on east on spruce north on Jasmine, west on Rohe
Standard status
Active
APN
07-27-16-47538-001-0130
Size
1,680 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE BUTLER VILLA CO'S SUB BLK 111A, LOT 13 & W 31FT OF LOT 14
Tax Annual Amount
6294
Legal Description
LAKE BUTLER VILLA CO'S SUB BLK 111A, LOT 13 & W 31FT OF LOT 14
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
laundry hookups
private porch
laundry closet
shared patio
fenced backyard
Building Details
Year built
1981
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Lance Willard LLC · License #3384517
(727) 487-1894
Added: Apr 17
Changed: Aug 19
Last Checked: Aug 29 at 11:06AM
MLS# TB8499092
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.
Located at 1109 E Rohe Street in Tarpon Springs, this 1,680-square-foot duplex contains two 2-bedroom, 1-bathroom residences. Both units are fully occupied and separately metered, with open kitchen and living areas, private porches, laundry hookups, and laundry closets. The property was built in 1981 and includes tile and carpet flooring, central air, electric heating, block and stucco construction, and shingle roofing.
The property occupies 0.25 acres within the historic city limits of Tarpon Springs. Outdoor improvements include a shared patio, fenced backyard, lighting, and a front parking pad with two spaces assigned to each unit, along with street parking. Major system details include water heaters installed in 2021, HVAC systems dating to 2018 and 2012, public water, and a septic tank. Zoning is R-4, with restaurants, shops, markets, golf courses, the Pinellas Trail, and Gulf Coast beaches nearby.
The property occupies 0.25 acres within the historic city limits of Tarpon Springs. Outdoor improvements include a shared patio, fenced backyard, lighting, and a front parking pad with two spaces assigned to each unit, along with street parking. Major system details include water heaters installed in 2021, HVAC systems dating to 2018 and 2012, public water, and a septic tank. Zoning is R-4, with restaurants, shops, markets, golf courses, the Pinellas Trail, and Gulf Coast beaches nearby.
Key Highlights
- Two fully occupied 2‑bedroom, 1‑bathroom units
- 1,680 square feet on a 0.25‑acre lot
- Separate electric metering for each 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
$19,610
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
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%
$392,200
$392.2K
Cap Rate 7%
$280,143
$280.1K
Cap Rate 9%
$217,889
$217.9K
Market Conditions
NOI Build-Up for 1,680 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
$30.0K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$28.0K $16.67/SF
− OpEx
−$8.4K −$5.00/SF
NOI
$19.6K $11.67/SF
Area
Pasco 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%
$392,200
Cap Rate 7%
$280,143
Cap Rate 9%
$217,889
Alternative Uses
Best Use
Multifamily LT 5
$280.1K
$245.1K – $326.8K
NOI $19,610 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$220.7K
$193.1K – $257.5K
NOI $15,451 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$382.7K
$334.9K – $446.5K
NOI $26,789 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Explore this area
Business Placement
Demographics for 34689, FL
27,436
Population
14,193
Households
1.9
Avg Household Size
53
Median Age
32%
College-Educated
93%
High-School Grad
10.6 sq mi
ZIP Area
2,588
Density / Sq Mi
$66,523
Median Household Income
$45,294
Median Earnings
$1,207
Median Rent
$311,500
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 separately metered residences offer open layouts, private outdoor space, and individual laundry hookups.
Where is this duplex located?
The property is located at 1109 E ROHE Street Tarpon Springs, FL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Two fully occupied 2‑bedroom, 1‑bathroom units; 1,680 square feet on a 0.25‑acre lot; Separate electric metering for each unit
