Duplex With Oversize
New
For Sale
$639,000
1377 S WASHINGTON Avenue, Clearwater, FL 33756
Residential Income, CLEARWATER, FL
Property Size2,970 SF
Lot Size0.24 Acres
Price / SF$215.15
Days on Market6
Property Features for 1377 S WASHINGTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2
Parking features
Driveway, Oversize, Open
Pets allowed
Yes
Interior features
Ceiling Fans(s), Solid Surface Counters, Solid Wood Cabinets, Thermostat
Exterior features
Fence
Fencing
Fenced
Fireplace
1
Appliances
Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
LAKEVIEW HEIGHTS
Lot features
Near Public Transit, Oversized Lot, Paved
Directions
Go W on Court St, turn left onto Alt US19, right onto Kingsley St, and right onto S Washington Ave
Standard status
Active
APN
22-29-15-48978-008-0060
Size
2,970 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKEVIEW HEIGHTS BLK H, LOTS 6 AND 7
Tax Annual Amount
10281
Legal Description
LAKEVIEW HEIGHTS BLK H, LOTS 6 AND 7
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
2
Flooring type
Tile
Building materials
Block, Frame
Roof type
Shingle
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(813) 977-3500
Listed By:
Marina Navia, P.A · License #3349841
(813) 609-2378
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 1:06AM
MLS# TB8549151
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 duplex property contains 2,970 square feet on a 0.24-acre lot. The 1956 construction combines block and frame materials with tile flooring, central air conditioning, electric heat, and a shingle roof. Interior details include solid wood cabinets, solid surface counters, ceiling fans, and thermostats. The property includes five bedrooms and five bathrooms, along with a fireplace and a household appliance package featuring a range, refrigerator, microwave, washer, and dryer.
Exterior features include fencing and oversize open driveway parking. Public water and public sewer serve the property. Located at 1377 S Washington Avenue in Clearwater, Florida, the property is identified by postal code 33756.
Exterior features include fencing and oversize open driveway parking. Public water and public sewer serve the property. Located at 1377 S Washington Avenue in Clearwater, Florida, the property is identified by postal code 33756.
Key Highlights
- Duplex property with 2,970 square feet of building area
- 0.24‑acre lot at 1377 S Washington Avenue, Clearwater, FL 33756
- Five bedrooms and five bathrooms
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
$40,965
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
6.41%
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%
$819,300
$819.3K
Cap Rate 7%
$585,214
$585.2K
Cap Rate 9%
$455,167
$455.2K
Market Conditions
NOI Build-Up for 2,970 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
$62.4K $21.00/SF
− Vacancy
−$3.8K −$1.30/SF
EGI
$58.5K $19.70/SF
− OpEx
−$17.6K −$5.91/SF
NOI
$41.0K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$819,300
Cap Rate 7%
$585,214
Cap Rate 9%
$455,167
Alternative Uses
Best Use
Multifamily LT 5
$585.2K
$512.1K – $682.8K
NOI $40,965 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$523.7K
$458.2K – $610.9K
NOI $36,656 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$833.3K
$729.1K – $972.1K
NOI $58,328 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,850
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Block-and-frame construction with central air, fenced grounds, and public water and sewer service.
Where is this duplex located?
The property is located at 1377 S WASHINGTON Avenue Clearwater, FL.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Duplex property with 2,970 square feet of building area; 0.24‑acre lot at 1377 S Washington Avenue, Clearwater, FL 33756; Five bedrooms and five bathrooms
