St. Pete Duplex
For Sale
$300,000
142 49TH N AVENUE, St Petersburg, FL 33703
Duplex near downtown St. Pete needing renovation.
Property Size1,112 SF
Lot Size0.13 Acres
Price / SF$269.78
Days on Market514
Property Features for 142 49TH N AVENUE
General Information
Standard status
Active
Size
1,112 SF
Lot size
0.13 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,045
Building Details
Year Built
1934
Listing Agency:
EQUITY PRO REALTY
(727) 442-6800
Listed By:
Matt Sharp · License #3089192
(727) 442-6800
Source:
Exitrealty
Added: Mar 18, 2025
Changed: Aug 8
Last Checked: Aug 12 at 6:43AM
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 EQUITY PRO REALTY
Investment Insights
Based on property information with market context.
This duplex, located near downtown St. Petersburg, presents an opportunity for investors. The property includes two units: a 2-bedroom, 1-bath unit with a large porch, a private yard, and two parking spots; and a 1-bedroom, 1-bath unit with a private yard and two parking spots located off the alley. Both units share a laundry room situated between them. The property experienced flooding from recent hurricanes and is awaiting renovation.
Key Highlights
- Duplex property offering potential rental income.
- Located near downtown St. Pete.
- Two units, each with a private yard.
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
$12,980
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
4.33%
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%
$259,600
$259.6K
Cap Rate 7%
$185,429
$185.4K
Cap Rate 9%
$144,222
$144.2K
Market Conditions
NOI Build-Up for 1,112 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
$19.9K $17.88/SF
− Vacancy
−$1.3K −$1.21/SF
EGI
$18.5K $16.67/SF
− OpEx
−$5.6K −$5.00/SF
NOI
$13.0K $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%
$259,600
Cap Rate 7%
$185,429
Cap Rate 9%
$144,222
Alternative Uses
Best Use
Multifamily LT 5
$185.4K
$162.3K – $216.3K
NOI $12,980 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$146.1K
$127.8K – $170.5K
NOI $10,227 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$289.2K
$253.1K – $337.5K
NOI $20,247 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Explore this area
Business Placement
Demographics for 33703, FL
23,948
Population
12,331
Households
1.9
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
4,790
Density / Sq Mi
$96,795
Median Household Income
$56,760
Median Earnings
$1,569
Median Rent
$395,200
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 - Duplex near downtown St. Pete needing renovation.
Where is this duplex located?
The property is located at 142 49TH N AVENUE St Petersburg, FL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex property offering potential rental income.; Located near downtown St. Pete.; Two units, each with a **private yard**.
