Renovated Duplex Near
For Sale
$674,900
Pending
11295 1ST Street E, Treasure Island, FL 33706
Residential Income, TREASURE ISLAND, FL
Property Size2,204 SF
Lot Size0.12 Acres
Days on Market327
Property Features for 11295 1ST Street E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RES
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Driveway
Window features
Double Pane Windows
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Solid Wood Cabinets, Stone Counters, Walk-In Closet(s)
Exterior features
Lighting, Rain Gutters, Storage
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
ISLE OF PALMS
Elementary school
Azalea Elementary-PN
Middle school
Azalea Middle-PN
High school
Boca Ciega High-PN
Directions
Gulf Blvd to 112th Ave to Left on 1st Street - 3rd Duplex on right
Standard status
Pending
APN
23-31-15-43470-002-0190
Size
2,204 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ISLE OF PALMS BLK B, LOT 19
Tax Annual Amount
9561
Legal Description
ISLE OF PALMS BLK B, LOT 19
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
storage room
shared laundry area
Building Details
Year built
1964
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
COLDWELL BANKER REALTY
(727) 360-6927
Listed By:
Maria Mercado Herbert, PA · License #3032151
(727) 642-1151
Added: Sep 28, 2025
Changed: Aug 20
Last Checked: Aug 20 at 12:06PM
MLS# TB8432743
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 contains two two-bedroom, one-bath units with separate kitchens and living areas. A 2025 renovation added new kitchens and bathrooms, electrical wiring, plumbing, AC systems, and water heaters. Quartz counters, wood cabinetry, stainless steel appliances, contemporary bathroom fixtures, and vinyl flooring are featured throughout. The property also includes a central shared laundry area, an owner's storage room, a porch, public water and sewer service, and block construction. The building was constructed in 1964 and measures 2,204 square feet on a 0.12-acre lot.
Located at 11295 1ST Street E in Treasure Island, the property is one block from the beach. Restaurants, coffee, a convenience store, waterfront amenities, tennis and pickleball courts, dog parks, playgrounds, marinas, and boat ramps are in the surrounding area. John's Pass and downtown Treasure Island are accessible by trolley or golf cart, while downtown St. Petersburg is approximately 20 minutes away and Tampa International Airport approximately 40 minutes away.
Located at 11295 1ST Street E in Treasure Island, the property is one block from the beach. Restaurants, coffee, a convenience store, waterfront amenities, tennis and pickleball courts, dog parks, playgrounds, marinas, and boat ramps are in the surrounding area. John's Pass and downtown Treasure Island are accessible by trolley or golf cart, while downtown St. Petersburg is approximately 20 minutes away and Tampa International Airport approximately 40 minutes away.
Key Highlights
- Two‑bedroom, one‑bath duplex units with separate kitchens and living areas
- Renovated in 2025 with new electrical wiring, plumbing, AC systems, and water heaters
- 2,204 square feet on a 0.12‑acre lot
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
$25,726
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
3.81%
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%
$514,520
$514.5K
Cap Rate 7%
$367,514
$367.5K
Cap Rate 9%
$285,844
$285.8K
Market Conditions
NOI Build-Up for 2,204 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
$39.4K $17.88/SF
− Vacancy
−$2.7K −$1.21/SF
EGI
$36.8K $16.67/SF
− OpEx
−$11.0K −$5.00/SF
NOI
$25.7K $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%
$514,520
Cap Rate 7%
$367,514
Cap Rate 9%
$285,844
Alternative Uses
Best Use
Multifamily LT 5
$367.5K
$321.6K – $428.8K
NOI $25,726 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$289.6K
$253.4K – $337.8K
NOI $20,270 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$573.3K
$501.6K – $668.8K
NOI $40,129 @ 7.0% cap · market cap 5.95%
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
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
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 updated residential units with private kitchens, shared laundry, storage, and driveway parking for four to five vehicles.
Where is this duplex located?
The property is located at 11295 1ST Street E Treasure Island, FL.
What is the asking price?
The asking price for this property is $674,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bath duplex units with separate kitchens and living areas; Renovated in 2025 with new electrical wiring, plumbing, AC systems, and water heaters; 2,204 square feet on a 0.12‑acre lot
