Renovated Duplex with Gated
For Sale
$349,000
1205 E 99TH AVENUE, Tampa, FL 33612
Two-unit property with updated interiors, a gated backyard, and recent roof and electrical improvements.
Property Size1,632 SF
Price / SF$213.85
Days on Market17
Property Features for 1205 E 99TH AVENUE
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Half Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
gated backyard
Building Details
Year Built
1974
Buildings
1
Construction
block
Listing Agency:
GINES INVESTMENT GROUP LLC
(407) 982-2223
Listed By:
Jesse Gines · License #3249558
Source:
Endlesssummerrealty
Added: Aug 1
Changed: Aug 16
Last Checked: Aug 16 at 6:26AM
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 GINES INVESTMENT GROUP LLC
Investment Insights
Based on property information with market context.
This duplex contains two separate units, each with two bedrooms and one bathroom, for a combined total of four bedrooms and two bathrooms. The property has been recently renovated and includes a gated backyard. The roof was replaced in 2021, and the electrical panel was updated in 2023.
Situated at 1205 E 99th Avenue in Tampa, the property is near Home Depot, Lowe’s, Walmart, and other major stores. The building was constructed in 1974 and has a property size of 1,632.
Situated at 1205 E 99th Avenue in Tampa, the property is near Home Depot, Lowe’s, Walmart, and other major stores. The building was constructed in 1974 and has a property size of 1,632.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 4 total bedrooms and 2 total bathrooms
- Roof replaced in 2021
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
$19,049
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
5.46%
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%
$380,980
$381.0K
Cap Rate 7%
$272,129
$272.1K
Cap Rate 9%
$211,656
$211.7K
Market Conditions
NOI Build-Up for 1,632 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
$29.2K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.2K $16.67/SF
− OpEx
−$8.2K −$5.00/SF
NOI
$19.0K $11.67/SF
Area
ZIP 33612
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%
$380,980
Cap Rate 7%
$272,129
Cap Rate 9%
$211,656
Alternative Uses
Best Use
Multifamily LT 5
$272.1K
$238.1K – $317.5K
NOI $19,049 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$253.0K
$221.4K – $295.2K
NOI $17,711 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$371.8K
$325.3K – $433.7K
NOI $26,023 @ 7.0% cap · market cap 7.46%
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
1,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
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-unit property with updated interiors, a gated backyard, and recent roof and electrical improvements.
Where is this duplex located?
The property is located at 1205 E 99TH AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 4 total bedrooms and 2 total bathrooms; Roof replaced in 2021
