Duplex with Separate
New
For Sale
$534,000
1646 28TH AVENUE N, St Petersburg, FL 33713
Two detached homes share one parcel, each with its own water and electrical meters and private outdoor space.
Property Size1,866 SF
Price / SF$286.17
Days on Market5
Property Features for 1646 28TH AVENUE N
General Information
Standard status
Active
Size
1,866 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1925
Buildings
2
Listing Agency:
REALTY EXPERTS
(727) 888-1000
Listed By:
Jennifer Kowalski · License #3584970
(727) 910-0333
Source:
Dennisrealty
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 8:20AM
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 REALTY EXPERTS
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Investment Insights
Based on property information with market context.
Two separate homes occupy a single parcel in St. Petersburg, with a combined area of 1,866 square feet. The front residence has three bedrooms, one bathroom and a bonus room, plus a rear composite deck. Its kitchen has updated cabinets, sink, counters and dishwasher; other features include a gas range, tankless gas water heater and kitchen-adjacent laundry. The home also has a newer electrical panel, a 2022 roof and 2018 HVAC. The rear home offers two bedrooms and one bathroom, was built in 2018 and has in-unit laundry, a covered porch and a private rear entry. Each residence has its own water and electrical meter.
Both homes have fenced, landscaped yards, walkways and parking. The rear residence is currently rented. The property is near downtown St. Petersburg, with Trader Joe’s, Coffee Pot Park and Sunken Gardens noted in the surrounding area.
Both homes have fenced, landscaped yards, walkways and parking. The rear residence is currently rented. The property is near downtown St. Petersburg, with Trader Joe’s, Coffee Pot Park and Sunken Gardens noted in the surrounding area.
Key Highlights
- Two detached homes on one parcel, totaling 1,866 square feet
- Front residence: 3 bedrooms, 1 bathroom and a bonus room
- Rear residence: 2 bedrooms, 1 bathroom; built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,781
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$435,620
$435.6K
Cap Rate 7%
$311,157
$311.2K
Cap Rate 9%
$242,011
$242.0K
Market Conditions
NOI Build-Up for 1,866 SF
Gross rent
$33.4K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$31.1K $16.67/SF
− OpEx
−$9.3K −$5.00/SF
NOI
$21.8K $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 Rate 5%
$435,620
Cap Rate 7%
$311,157
Cap Rate 9%
$242,011
Alternative Uses
Best Use
Multifamily LT 5
$311.2K
$272.3K – $363.0K
NOI $21,781 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$245.2K
$214.5K – $286.0K
NOI $17,162 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$485.4K
$424.7K – $566.3K
NOI $33,975 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
954
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two detached homes share one parcel, each with its own water and electrical meters and private outdoor space.
Where is this duplex located?
The property is located at 1646 28TH AVENUE N St Petersburg, FL.
What is the asking price?
The asking price for this property is $534,000.
What are key features of this property?
This property features: Two detached homes on one parcel, totaling 1,866 square feet; Front residence: 3 bedrooms, 1 bathroom and a bonus room; Rear residence: 2 bedrooms, 1 bathroom; built in 2018
