Two-Unit Duplex
New
For Sale
$325,000
1636 S JEFFERSON AVENUE, Clearwater, FL 33756
Two separate residences offer a practical layout for renovation and future rental use.
Property Size1,841 SF
Price / SF$176.53
Days on Market4
Property Features for 1636 S JEFFERSON AVENUE
General Information
Standard status
Active
Size
1,841 SF
Property subtype
Duplex
Building Details
Year Built
1955
Listing Agency:
RE/MAX REALTEC GROUP INC
(727) 789-5555
Listed By:
Dean Ribble · License #617133
(727) 334-2496
Source:
Endlesssummerrealty
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 4:53PM
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 RE/MAX REALTEC GROUP INC
Investment Insights
Based on property information with market context.
Built in 1955, this duplex contains two separate residences, each with two bedrooms and one bathroom, for a total of 1,841 square feet. The property is positioned for renovation, with washer and dryer appliances excluded from the sale. Flood Zone X, no HOA, and no CDD are additional property considerations.
The home is located in Clearwater’s Monterey Heights neighborhood near shopping, restaurants, parks, recreation centers, schools, and medical facilities. Clearwater Beach is approximately 5 miles away, while Downtown St. Pete and Downtown Tampa are about 30 and 35 minutes away, respectively. The location also provides access throughout the Tampa Bay area.
The home is located in Clearwater’s Monterey Heights neighborhood near shopping, restaurants, parks, recreation centers, schools, and medical facilities. Clearwater Beach is approximately 5 miles away, while Downtown St. Pete and Downtown Tampa are about 30 and 35 minutes away, respectively. The location also provides access throughout the Tampa Bay area.
Key Highlights
- Two separate units, each with 2 bedrooms and 1 bath
- 1,841‑square‑foot duplex built in 1955
- Flood Zone X designation
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
$25,393
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
7.81%
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%
$507,860
$507.9K
Cap Rate 7%
$362,757
$362.8K
Cap Rate 9%
$282,144
$282.1K
Market Conditions
NOI Build-Up for 1,841 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
$38.7K $21.00/SF
− Vacancy
−$2.4K −$1.30/SF
EGI
$36.3K $19.70/SF
− OpEx
−$10.9K −$5.91/SF
NOI
$25.4K $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%
$507,860
Cap Rate 7%
$362,757
Cap Rate 9%
$282,144
Alternative Uses
Best Use
Multifamily LT 5
$362.8K
$317.4K – $423.2K
NOI $25,393 @ 7.0% cap · market cap 7.81%
Second Best
Apartment 5plus
$324.6K
$284.0K – $378.7K
NOI $22,722 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$516.5K
$452.0K – $602.6K
NOI $36,156 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
929
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a practical layout for renovation and future rental use.
Where is this duplex located?
The property is located at 1636 S JEFFERSON AVENUE Clearwater, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separate units, each with 2 bedrooms and 1 bath; 1,841‑square‑foot duplex built in 1955; Flood Zone X designation
