Two-Unit Duplex with New
New
For Sale
$399,000
1626 29th Ave N, St Petersburg, FL 33713
Separate front and rear units provide flexible options for rental operation, owner occupancy, or a combination of both.
Property Size1,302 SF
Price / SF$306.45
Days on Market4
Property Features for 1626 29th Ave N
General Information
Standard status
Active
Size
1,302 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1953
Listing Agency:
Five Star Realty Of Charlotte
(941) 637-6116
Listed By:
Alan Atchley
(941) 556-9100
Source:
Atchleyrealty
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 10 at 6:36AM
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 Five Star Realty Of Charlotte
Investment Insights
Based on property information with market context.
This 1,302-square-foot duplex, built in 1953, contains two separate units with distinct layouts. The front residence includes 3 bedrooms and 1 bath, while the rear unit provides 1 bedroom and 1 bath. Recent exterior work includes new stucco.
The property is in St. Petersburg near downtown, shopping, dining, parks, and major roadways. Surrounding development includes new homes and active construction projects, adding context for the neighborhood. The two-unit configuration supports a range of occupancy arrangements, including leasing both units, living in one, or combining personal use with rental operation.
The property is in St. Petersburg near downtown, shopping, dining, parks, and major roadways. Surrounding development includes new homes and active construction projects, adding context for the neighborhood. The two-unit configuration supports a range of occupancy arrangements, including leasing both units, living in one, or combining personal use with rental operation.
Key Highlights
- Two‑unit duplex with 1,302 SF of total property size
- Front unit includes 3 bedrooms and 1 bath
- Separate rear unit offers 1 bedroom and 1 bath
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
$15,197
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
3.81%
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%
$303,940
$303.9K
Cap Rate 7%
$217,100
$217.1K
Cap Rate 9%
$168,856
$168.9K
Market Conditions
NOI Build-Up for 1,302 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
$23.3K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$21.7K $16.67/SF
− OpEx
−$6.5K −$5.00/SF
NOI
$15.2K $11.67/SF
Area
Pinellas County, 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%
$303,940
Cap Rate 7%
$217,100
Cap Rate 9%
$168,856
Alternative Uses
Best Use
Multifamily LT 5
$217.1K
$190.0K – $253.3K
NOI $15,197 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$171.1K
$149.7K – $199.6K
NOI $11,975 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$338.7K
$296.3K – $395.1K
NOI $23,706 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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
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 - Separate front and rear units provide flexible options for rental operation, owner occupancy, or a combination of both.
Where is this duplex located?
The property is located at 1626 29th Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,302 SF of total property size; Front unit includes 3 bedrooms and 1 bath; Separate rear unit offers 1 bedroom and 1 bath
