Updated Duplex with Fenced
New
For Sale
$359,000
1324 59TH Avenue E, Bradenton, FL 34203
Residential Income, BRADENTON, FL
Property Size1,458 SF
Lot Size0.16 Acres
Price / SF$246.23
Days on Market2
Property Features for 1324 59TH Avenue E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RSF6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2
Interior features
Ninguno, Thermostat
Subdivision
OVERSTREET PARK FIFTH ADD
Directions
south from SR 70 on 15th St. E. to 59th Ave. E. turn west on 59th, second unit on right.
Standard status
Active
APN
5819300004
Size
1,458 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THE S 70 FT OF LOT 18 OVERSTREET PARK FIFTH ADD PI#58193.0000/4
Tax Annual Amount
4368
Legal Description
THE S 70 FT OF LOT 18 OVERSTREET PARK FIFTH ADD PI#58193.0000/4
Utilities
Sewer type
Private Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
fenced backyard
laundry hookups
driveway and off-street parking
Building Details
Year built
1974
Number of units
2
Building materials
Block
Roof type
Shingle
Listing Agency:
LESLIE WELLS REALTY, INC.
(941) 776-5571
Listed By:
Jennifer Flores, PLLC
(941) 228-2555
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 5 at 1:06PM
MLS# A4705132
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,458-square-foot duplex contains two independently accessed residences, each configured with 2 bedrooms and 1 bathroom. Interior updates include modernized kitchens, refreshed bathrooms, and tile flooring throughout. Each side also has a laundry closet outside the rear entry with washer and dryer hookups. Central air, electric heat, block construction, and a shingle roof serve the property.
The 0.16-acre parcel includes a fenced backyard, driveway parking, and additional off-street parking. Both residences are occupied by long-term tenants. Built in 1974, the property received a newer roof in 2018 and is served by public water and private sewer. RSF6 zoning applies to the Bradenton property.
The 0.16-acre parcel includes a fenced backyard, driveway parking, and additional off-street parking. Both residences are occupied by long-term tenants. Built in 1974, the property received a newer roof in 2018 and is served by public water and private sewer. RSF6 zoning applies to the Bradenton property.
Key Highlights
- Duplex with 2 separate residences, each offering 2 bedrooms and 1 bathroom
- 1,458 square feet on a 0.16‑acre parcel
- 2018 roof replacement supports current building condition
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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 separately entered units offer tile flooring, laundry hookups, and driveway and off-street parking.
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: Duplex with 2 separate residences, each offering 2 bedrooms and 1 bathroom; 1,458 square feet on a 0.16‑acre parcel; 2018 roof replacement supports current building condition
