Renovated Duplex Investment
For Sale
$599,000
1920/1922 SPRINGTIME Avenue, Clearwater, FL 33755
MULTI_FAMILY - CLEARWATER, FL
Property Size1,600 SF
Lot Size0.12 Acres
Price / SF$374.38
Days on Market67
Property Features for 1920/1922 SPRINGTIME Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Window features
Blinds
Interior features
Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Thermostat
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
SUNSET POINT 2ND ADD
Lot features
City Limits, Level, Near Golf Course, Near Marina, Near Public Transit, Paved
Elementary school
Sandy Lane Elementary-PN
Middle school
Dunedin Highland Middle-PN
High school
Dunedin High-PN
Directions
W-Sunset Point Road, N-Springtime to address.
Standard status
Active
APN
03-29-15-88128-007-0460
Size
1,600 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNSET POINT 2ND ADD BLK G, LOT 46
Tax Annual Amount
7257
Legal Description
SUNSET POINT 2ND ADD BLK G, LOT 46
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Building materials
Stucco
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Tanner Tillung · License #3373651
(727) 479-4548
Added: Jun 2
Changed: Aug 1
Last Checked: Aug 7 at 1:06AM
MLS# TB8512833
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated duplex includes two units, with one side currently tenant-occupied and the other unit available for owner occupancy or lease. Interior updates include recently renovated kitchens and bathrooms, updated flooring, fresh interior and exterior paint, and modern finishes throughout. Each unit features its own washer and dryer, dedicated parking, and private outdoor space. The home is heated by electric central systems and cooled with central air, and it has a shingle roof. Built in 1972, the property also benefits from public water and public sewer services.
The duplex is located at 1920/1922 Springtime Avenue in Clearwater, FL 33755, and is described as being in an X flood zone.
Outdoors and daily living are supported by the property’s open floorplan and main-floor primary bedroom, along with solid surface counters and solid wood cabinets within the interior finishes.
The duplex is located at 1920/1922 Springtime Avenue in Clearwater, FL 33755, and is described as being in an X flood zone.
Outdoors and daily living are supported by the property’s open floorplan and main-floor primary bedroom, along with solid surface counters and solid wood cabinets within the interior finishes.
Key Highlights
- One tenant‑occupied unit and one unit available for owner occupancy or lease
- Renovated kitchens and bathrooms with updated flooring and fresh interior and exterior paint
- Newer roof and shingle roofing
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
$22,069
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
3.68%
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%
$441,380
$441.4K
Cap Rate 7%
$315,271
$315.3K
Cap Rate 9%
$245,211
$245.2K
Market Conditions
NOI Build-Up for 1,600 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
$33.6K $21.00/SF
− Vacancy
−$2.1K −$1.30/SF
EGI
$31.5K $19.70/SF
− OpEx
−$9.5K −$5.91/SF
NOI
$22.1K $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%
$441,380
Cap Rate 7%
$315,271
Cap Rate 9%
$245,211
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.8K
NOI $22,069 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$282.1K
$246.8K – $329.1K
NOI $19,747 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$448.9K
$392.8K – $523.7K
NOI $31,423 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
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 - Renovated duplex with one tenant-occupied unit, updated roof, and in-unit washer/dryer on a 0.12-acre Clearwater lot.
Where is this duplex located?
The property is located at 1920/1922 SPRINGTIME Avenue Clearwater, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: One tenant‑occupied unit and one unit available for owner occupancy or lease; Renovated kitchens and bathrooms with updated flooring and fresh interior and exterior paint; Newer roof and shingle roofing
