Duplex with Detached
For Sale
$309,900
Pending
1727 22ND N AVENUE, St Petersburg, FL 33713
Two residential structures offer multi-family zoning, separate electrical meters, and rear alley access with on-site parking.
Property Size1,499 SF
Days on Market728
Property Features for 1727 22ND N AVENUE
General Information
Standard status
Pending
Size
1,499 SF
Property subtype
Multi Family
Zoning
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$453
Building Details
Year Built
1939
Buildings
2
Listing Agency:
FUTURE HOME REALTY INC
(727) 692-6275
Listed By:
Mark Murphy · License #671039
(727) 692-6275
Source:
Exitrealty
Added: Sep 4, 2024
Changed: Aug 31
Last Checked: Aug 31 at 4:19PM
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 FUTURE HOME REALTY INC
Investment Insights
Based on property information with market context.
This duplex property includes a 939-square-foot, two-bedroom, one-bathroom primary home and a detached 560-square-foot, one-bedroom, one-bathroom residence. The structures provide separate living accommodations and are supported by individual electrical meters. Both roofs were replaced in 2022.
Built in 1939, the main home retains period details including oak flooring, cove ceilings, original-glass windows, and a roof-mounted gargoyle. The property is located a few blocks from the interstate and minutes from downtown St. Petersburg. A paved rear alley provides access to the lot, which is shaded by oak trees and includes ample parking area.
Built in 1939, the main home retains period details including oak flooring, cove ceilings, original-glass windows, and a roof-mounted gargoyle. The property is located a few blocks from the interstate and minutes from downtown St. Petersburg. A paved rear alley provides access to the lot, which is shaded by oak trees and includes ample parking area.
Key Highlights
- Two residential structures totaling 1,499 SF
- Main home: 939 SF with 2 bedrooms and 1 bathroom
- Detached residence: 560 SF with 1 bedroom and 1 bathroom
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
$17,497
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
5.65%
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%
$349,940
$349.9K
Cap Rate 7%
$249,957
$250.0K
Cap Rate 9%
$194,411
$194.4K
Market Conditions
NOI Build-Up for 1,499 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
$26.8K $17.88/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$25.0K $16.67/SF
− OpEx
−$7.5K −$5.00/SF
NOI
$17.5K $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%
$349,940
Cap Rate 7%
$249,957
Cap Rate 9%
$194,411
Alternative Uses
Best Use
Multifamily LT 5
$250.0K
$218.7K – $291.6K
NOI $17,497 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$196.9K
$172.3K – $229.8K
NOI $13,786 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$389.9K
$341.2K – $454.9K
NOI $27,293 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,119
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
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 residential structures offer multi-family zoning, separate electrical meters, and rear alley access with on-site parking.
Where is this duplex located?
The property is located at 1727 22ND N AVENUE St Petersburg, FL.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two residential structures totaling 1,499 SF; Main home: 939 SF with 2 bedrooms and 1 bathroom; Detached residence: 560 SF with 1 bedroom and 1 bathroom
