Updated Duplex with Fenced
New
For Sale
$359,000
1324 59TH AVENUE E, Bradenton, FL 34203
Two separately entered rental units feature updated kitchens, refreshed baths, tile flooring, and laundry hookups.
Property Size1,458 SF
Price / SF$246.23
Days on Market7
Property Features for 1324 59TH AVENUE E
General Information
Standard status
Active
Size
1,458 SF
Property subtype
Duplex
Building Details
Year Built
1974
Listing Agency:
LESLIE WELLS REALTY, INC.
(941) 776-5571
Listed By:
Jennifer Flores, PLLC · License #3452103
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 4
Changed: Sep 9
Last Checked: Sep 10 at 7:08AM
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 LESLIE WELLS REALTY, INC.
Investment Insights
Based on property information with market context.
This 1974 duplex contains two 2-bedroom, 1-bathroom residences within 1,458 square feet. Each unit has a private entrance, tile flooring throughout, an updated kitchen, and a refreshed bathroom, with one bath older than the other. Laundry closets with washer and dryer hookups are positioned outside the rear doors. A 2018 roof, fenced backyard, driveway parking, and additional off-street parking support practical long-term operation.
The property is located at 1324 59th Ave E in Bradenton, Florida. Both units have long-term tenants in place, providing an established rental setup for an owner seeking a two-unit residential income property.
The property is located at 1324 59th Ave E in Bradenton, Florida. Both units have long-term tenants in place, providing an established rental setup for an owner seeking a two-unit residential income property.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units within 1,458 square feet
- Long‑term tenants occupy both units
- Updated kitchens, refreshed bathrooms, and tile flooring throughout
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
$19,153
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
5.34%
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%
$383,060
$383.1K
Cap Rate 7%
$273,614
$273.6K
Cap Rate 9%
$212,811
$212.8K
Market Conditions
NOI Build-Up for 1,458 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
$28.9K $19.80/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$27.4K $18.77/SF
− OpEx
−$8.2K −$5.63/SF
NOI
$19.2K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /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%
$383,060
Cap Rate 7%
$273,614
Cap Rate 9%
$212,811
Alternative Uses
Best Use
Multifamily LT 5
$273.6K
$239.4K – $319.2K
NOI $19,153 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$252.0K
$220.5K – $294.0K
NOI $17,641 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$428.8K
$375.2K – $500.2K
NOI $30,013 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered rental units feature updated kitchens, refreshed baths, tile flooring, and laundry hookups.
Where is this duplex located?
The property is located at 1324 59TH AVENUE E Bradenton, FL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units within 1,458 square feet; Long‑term tenants occupy both units; Updated kitchens, refreshed bathrooms, and tile flooring throughout
