Corner-Lot
For Sale
$199,000
1401 E 24TH Avenue, Tampa, FL 33605
Residential Income, TAMPA, FL
Property Size1,092 SF
Lot Size0.10 Acres
Price / SF$182.23
Days on Market50
Property Features for 1401 E 24TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-50
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Dining Room, Bedroom 2, Bathroom 2, Bedroom 1
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 · License #3613967
(916) 612-6072
Added: Aug 14
Changed: Oct 1
Last Checked: Oct 2 at 7:06AM
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 provides 1,092 square feet of residential space on a 0.1-acre corner lot. Built in 1945, the property includes a living room and dining room combination, two bedrooms, two bathrooms, a porch, laminate flooring, vinyl siding, and a shingle roof. Appliances include a cooktop and dishwasher. Heating is provided by a space heater, with window and wall/window cooling units serving the interior.
The property is located at 1401 E 24TH Avenue in Tampa, within Hillsborough County. RS-50 zoning applies, and both the water source and sewer service are public. The two-unit configuration and corner-lot placement define the property’s primary physical characteristics.
The property is located at 1401 E 24TH Avenue in Tampa, within Hillsborough County. RS-50 zoning applies, and both the water source and sewer service are public. The two-unit configuration and corner-lot placement define the property’s primary physical characteristics.
Key Highlights
- Duplex on a 0.1‑acre corner lot
- 1,092 square feet of residential space
- 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
6.41%
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%
$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 6.41%
Second Best
Apartment 5plus
$169.3K
$148.1K – $197.5K
NOI $11,851 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$254.4K
$222.6K – $296.8K
NOI $17,808 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
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-unit residential property with public water and sewer, porch, laminate flooring, and window cooling units.
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 $199,000.
What are key features of this property?
This property features: Duplex on a 0.1‑acre corner lot; 1,092 square feet of residential space; RS‑50 zoning
