Corner-Lot
New
For Sale
$204,900
1401 E 24TH Avenue, Tampa, FL 33605
MULTI_FAMILY - TAMPA, FL
Property Size1,092 SF
Lot Size0.10 Acres
Price / SF$187.64
Days on Market3
Property Features for 1401 E 24TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-50
Rooms
Dining Room
Patio and Porch features
Porch
Interior features
Living Room/Dining Room Combo
Appliances
Cooktop, Dishwasher
Subdivision
PANAMA
Lot features
Corner Lot
Directions
From mlk blvd to right on N Nebraska Ave, Left on Lake Ave , Right on N A venida Republica de Cuba to the home
Standard status
Active
APN
A-07-29-19-4UM-000005-00007.0
Size
1,092 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PANAMA LOT 7 AND N 1/2 OF CLOSED ALLEY LESS WLY 8 FT FOR 14TH ST R/W BLOCK 5
Tax Annual Amount
2110
Legal Description
PANAMA LOT 7 AND N 1/2 OF CLOSED ALLEY LESS WLY 8 FT FOR 14TH ST R/W BLOCK 5
Utilities
Sewer type
Public Sewer
Heating system
Space Heater
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Flooring type
Laminate
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Brett Garcia
(916) 612-6072
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 3:06PM
MLS# G5116452
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 contains 1092 square feet on a 0.1-acre corner lot and was built in 1945. The property includes a living room and dining room combination, a separate dining room, laminate flooring, vinyl siding, a shingle roof, and a porch. Interior equipment includes a cooktop and dishwasher, while cooling is provided by window or wall/window units and heating by a space heater.
The property is located at 1401 E 24TH Avenue in Tampa, Florida, within Hillsborough County and the 33605 postal area. It is zoned RS-50 and served by public water and public sewer.
The property is located at 1401 E 24TH Avenue in Tampa, Florida, within Hillsborough County and the 33605 postal area. It is zoned RS-50 and served by public water and public sewer.
Key Highlights
- Duplex on a 0.1‑acre corner lot
- 1092 square feet; built in 1945
- RS‑50 zoning
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
$12,746
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
6.22%
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%
$254,920
$254.9K
Cap Rate 7%
$182,086
$182.1K
Cap Rate 9%
$141,622
$141.6K
Market Conditions
NOI Build-Up for 1,092 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
$19.5K $17.88/SF
− Vacancy
−$1.3K −$1.21/SF
EGI
$18.2K $16.67/SF
− OpEx
−$5.5K −$5.00/SF
NOI
$12.7K $11.67/SF
Area
Tampa, 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%
$254,920
Cap Rate 7%
$182,086
Cap Rate 9%
$141,622
Alternative Uses
Best Use
Multifamily LT 5
$182.1K
$159.3K – $212.4K
NOI $12,746 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$169.3K
$148.1K – $197.5K
NOI $11,851 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$254.4K
$222.6K – $296.8K
NOI $17,808 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 33605, FL
18,243
Population
8,994
Households
2
Avg Household Size
36
Median Age
21%
College-Educated
79%
High-School Grad
7.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$36,790
Median Household Income
$35,889
Median Earnings
$1,122
Median Rent
$235,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a combined living and dining area, porch, and public water and sewer.
Where is this duplex located?
The property is located at 1401 E 24TH Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $204,900.
What are key features of this property?
This property features: Duplex on a 0.1‑acre corner lot; 1092 square feet; built in 1945; RS‑50 zoning
