2-Unit
New
For Sale
$475,000
116 N DUNCAN AVENUE, Clearwater, FL 33755
Both residences include a kitchen, laundry, and dedicated parking.
Property Size1,962 SF
Price / SF$242.10
Days on Market7
Property Features for 116 N DUNCAN AVENUE
General Information
Standard status
Active
Size
1,962 SF
Property subtype
Half Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1949
Buildings
1
Listing Agency:
Y REALTY
(813) 245-9524
Listed By:
Leanna Tillman · License #3645393
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 1 at 11:24AM
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 Y REALTY
Investment Insights
Based on property information with market context.
Built in 1949, this permitted duplex contains two independent residences, each with two bedrooms and one bathroom. One residence is occupied by a tenant, while the other is vacant. Each has its own kitchen, laundry, and parking, supporting separate household use within the same property.
The property occupies a corner lot in Clearwater at 116 N Duncan Avenue. Shopping, dining, and major roadways are identified among the nearby amenities and access points.
The property occupies a corner lot in Clearwater at 116 N Duncan Avenue. Shopping, dining, and major roadways are identified among the nearby amenities and access points.
Key Highlights
- Two permitted residences, each with 2 bedrooms and 1 bathroom
- One unit is tenant occupied; the second unit is vacant
- Separate kitchen, laundry, and parking for each residence
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
$27,062
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
5.70%
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%
$541,240
$541.2K
Cap Rate 7%
$386,600
$386.6K
Cap Rate 9%
$300,689
$300.7K
Market Conditions
NOI Build-Up for 1,962 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
$41.2K $21.00/SF
− Vacancy
−$2.5K −$1.30/SF
EGI
$38.7K $19.70/SF
− OpEx
−$11.6K −$5.91/SF
NOI
$27.1K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$541,240
Cap Rate 7%
$386,600
Cap Rate 9%
$300,689
Alternative Uses
Best Use
Multifamily LT 5
$386.6K
$338.3K – $451.0K
NOI $27,062 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$345.9K
$302.7K – $403.6K
NOI $24,215 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$550.5K
$481.7K – $642.2K
NOI $38,532 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences include a kitchen, laundry, and dedicated parking.
Where is this duplex located?
The property is located at 116 N DUNCAN AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two permitted residences, each with 2 bedrooms and 1 bathroom; One unit is tenant occupied; the second unit is vacant; Separate kitchen, laundry, and parking for each residence
