Clearwater Triplex Investment
1965 RAINBOW Dr Clearwater, FL 33765
For Sale
$539,900
Income-producing triplex with separate units and private fenced yard.
Property Size2,380 SF
Price / SF$226.85
Days on Market97
Property Features for 1965 RAINBOW Dr
General Information
Standard status
Active
Size
2,380 SF
Property subtype
Investment
Building Details
Year Built
1953
Listing Agency:
Station Square Realty
(727) 642-8805
Listed By:
Ray Cassano · License #BK491304
(727) 642-8805
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 29 at 8:00AM
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 Station Square Realty
Investment Insights
Based on property information with market context.
This income-producing triplex is located in Clearwater, Florida. The property consists of three separately rented units situated at 1965 Rainbow Dr and 301 Aurora Ave. The combined units offer a total of 4 bedrooms and 3 bathrooms with approximately 2380 square feet. Each unit features a separate entrance and a private fenced yard. The property is located in an established residential neighborhood with convenient access to major roads, shopping, dining, and Clearwater amenities. The bike score is 70, indicating it is very bikeable. The walk score is 73, indicating it is very walkable. The transit score is 33, indicating some transit options are available.
Key Highlights
- Income‑producing triplex investment opportunity.
- Three separately rented units.
- Located in Clearwater, FL.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.0k | $21.00 |
| − Vacancy | −$3.1k | −$1.30 |
| EGI | $46.9k | $19.70 |
| − OpEx | −$14.1k | −$5.91 |
| NOI | $32.8k | $13.79 |
2,380 SF · lease $21.00/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$469.0K
$410.3K – $547.1K
NOI $32,827 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$419.6K
$367.2K – $489.6K
NOI $29,374 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$667.7K
$584.3K – $779.0K
NOI $46,741 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Income-producing triplex with separate units and private fenced yard.
Where is this triplex located?
The property is located at 1965 RAINBOW Dr Clearwater, FL.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Income‑producing triplex investment opportunity.; Three separately rented units.; Located in Clearwater, FL.
