Turnkey Income Duplex
1514 E NORTH BAY STREET Tampa, FL 33610
New
1514 E NORTH BAY STREET, Tampa, FL, 33610
$449,000
For Sale
$449,000
Well-maintained 1934 duplex with two separate 3-bed, 2-bath units and recent HVAC and interior updates.
Property Size1,726 SF
Price / SF$260.14
Days on Market5
Property Features for 1514 E NORTH BAY STREET
General Information
- Standard status
- Active
- Size
- 1,726 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1934
Listing agency
PEOPLE'S CHOICE REALTY SVC LLC
(813) 933-0677
Listed by
Smith Desir · License #3190020
Source
Miharaandassociates
Added: Jul 18 Updated: Jul 21 at 8:21AM Checked: Jul 21 at 8:21AM
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 PEOPLE'S CHOICE REALTY SVC LLC
Investment Insights
Based on property information with market context.
This income-producing duplex, built in 1934, is configured as two separate residences, each offering 3 bedrooms and 2 bathrooms. The property totals 1,726 heated square feet and sits on a 6,250-square-foot lot. Each unit has its own water meter, while electric service is shared. Both units have been rented on month-to-month leases, and the combined gross annual rental income is $52,800.
Recent improvements include replacement of the front A/C unit in 2022, replacement of the back A/C unit in 2024, a fully remodeled kitchen in 2022, and new flooring installed in 2022. The property is located at 1514 E North Bay Street in Tampa, with access to Downtown Tampa, Ybor City, Armature Works, the Tampa Riverwalk, major hospitals, shopping, dining, entertainment, and Interstates 275 and I-4. Property is being sold strictly AS-IS, and the listing realtor has an ownership interest in the property.
Recent improvements include replacement of the front A/C unit in 2022, replacement of the back A/C unit in 2024, a fully remodeled kitchen in 2022, and new flooring installed in 2022. The property is located at 1514 E North Bay Street in Tampa, with access to Downtown Tampa, Ybor City, Armature Works, the Tampa Riverwalk, major hospitals, shopping, dining, entertainment, and Interstates 275 and I-4. Property is being sold strictly AS-IS, and the listing realtor has an ownership interest in the property.
Key Highlights
- 1934‑built duplex with 2 separate units, each 3 bed / 2 bath, totaling 1,726 heated SF
- Recent rents: Unit 1 $2,000/mo and Unit 2 $2,400/mo on month‑to‑month leases for $52,800 gross annual income
- Recent improvements: front A/C replaced in 2022, back A/C replaced in 2024
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.9k | $17.88 |
| − Vacancy | −$2.1k | −$1.21 |
| EGI | $28.8k | $16.67 |
| − OpEx | −$8.6k | −$5.00 |
| NOI | $20.1k | $11.67 |
1,726 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$287.8K
$251.8K – $335.8K
NOI $20,147 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$251.0K
$219.6K – $292.8K
NOI $17,567 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$398.1K
$348.3K – $464.4K
NOI $27,866 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Boss Fashion of Tampa ...
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained 1934 duplex with two separate 3-bed, 2-bath units and recent HVAC and interior updates.
Where is this duplex located?
The property is located at 1514 E NORTH BAY STREET Tampa, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1934‑built duplex with 2 separate units, each 3 bed / 2 bath, totaling 1,726 heated SF; Recent rents: Unit 1 $2,000/mo and Unit 2 $2,400/mo on month‑to‑month leases for $52,800 gross annual income; Recent improvements: front A/C replaced in 2022, back A/C replaced in 2024
