Duplex with Private Fenced
New
For Sale
$419,000
173 38TH AVE SE, St Petersburg, FL 33705
Each residence has its own laundry room, storage area, and covered front patio.
Property Size1,560 SF
Days on Market5
Property Features for 173 38TH AVE SE
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,315
Amenities
private laundry room with washer/dryer & storage area
covered front patio
individual fenced backyards
Building Details
Building Size
1,560 SF
Year Built
1959
Listing Agency:
LUCAS GROUP REALTY INC
Listed By:
Karen Lucas · License #3048825
(727) 385-8869
Source:
Judibeck
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 11:32PM
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 LUCAS GROUP REALTY INC
Investment Insights
Based on property information with market context.
This 1,560-square-foot duplex, built in 1959, contains two residences, each configured with two bedrooms and one bathroom. Both units have updated interiors, a private laundry room with washer and dryer, a storage area, and a covered front patio. Each side also has its own fenced backyard. A roof was installed in 2026, and both water heaters were replaced in 2021; the exterior has been painted.
The property is in Coquina Key, just south of Downtown St. Petersburg. One residence is leased through November 30, 2026, while the other is vacant. The two-unit setup accommodates continued leasing of both residences or owner occupancy in one unit while the other is rented.
The property is in Coquina Key, just south of Downtown St. Petersburg. One residence is leased through November 30, 2026, while the other is vacant. The two-unit setup accommodates continued leasing of both residences or owner occupancy in one unit while the other is rented.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,560 SF duplex built in 1959
- Roof installed in 2026; both water heaters replaced in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,209
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,180
$364.2K
Cap Rate 7%
$260,129
$260.1K
Cap Rate 9%
$202,322
$202.3K
Market Conditions
NOI Build-Up for 1,560 SF
Gross rent
$27.9K $17.88/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$26.0K $16.67/SF
− OpEx
−$7.8K −$5.00/SF
NOI
$18.2K $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 Rate 5%
$364,180
Cap Rate 7%
$260,129
Cap Rate 9%
$202,322
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.5K
NOI $18,209 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$205.0K
$179.3K – $239.1K
NOI $14,347 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$405.8K
$355.1K – $473.4K
NOI $28,404 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own laundry room, storage area, and covered front patio.
Where is this duplex located?
The property is located at 173 38TH AVE SE St Petersburg, FL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,560 SF duplex built in 1959; Roof installed in 2026; both water heaters replaced in 2021
