Two-Unit Duplex with
For Sale
$715,000
2-5010 E 32nd Ave, Tampa, FL 33603
Each residence includes three upstairs bedrooms, private fencing, and a dedicated garage.
Property Size3,800 SF
Price / SF$188.16
Days on Market40
Property Features for 2-5010 E 32nd Ave
General Information
Standard status
Active
Size
3,800 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$905
Listing Agency:
QUICKSILVER REAL ESTATE GROUP
(813) 298-5244
Listed By:
Hichem Melliti
(813) 298-5244
Source:
Exprealty
Added: Jul 8
Changed: Aug 13
Last Checked: Aug 15 at 8:44AM
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 QUICKSILVER REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
This under-construction duplex contains two townhome-style residences totaling 3,800 SF, with approximately 1,900 SF per unit. Each home is arranged with three upstairs bedrooms, including a primary suite with a walk-in closet and private bathroom featuring a large walk-in shower. Interior finishes include gray shaker cabinetry, granite countertops, backsplash detailing, stainless steel appliances, five-inch baseboards, and granite surfaces in the kitchens and bathrooms. Washer and dryer hookups are located upstairs.
Each residence has a dedicated garage, a large driveway, and a fully fenced yard. The property is located at 2-5010 E 32nd Ave in Tampa, Florida.
Each residence has a dedicated garage, a large driveway, and a fully fenced yard. The property is located at 2-5010 E 32nd Ave in Tampa, Florida.
Key Highlights
- Two‑unit duplex totaling 3,800 SF; each unit is approximately 1,900 SF
- Three upstairs bedrooms in each unit
- Dedicated garage and large driveway for each residence
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
$44,355
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
6.20%
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%
$887,100
$887.1K
Cap Rate 7%
$633,643
$633.6K
Cap Rate 9%
$492,833
$492.8K
Market Conditions
NOI Build-Up for 3,800 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
$67.9K $17.88/SF
− Vacancy
−$4.6K −$1.21/SF
EGI
$63.4K $16.67/SF
− OpEx
−$19.0K −$5.00/SF
NOI
$44.4K $11.67/SF
Area
Tampa, 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%
$887,100
Cap Rate 7%
$633,643
Cap Rate 9%
$492,833
Alternative Uses
Best Use
Multifamily LT 5
$633.6K
$554.4K – $739.3K
NOI $44,355 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$589.1K
$515.5K – $687.3K
NOI $41,240 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$885.3K
$774.6K – $1.03M
NOI $61,970 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
881
Businesses Nearby
Explore this area
Business Placement
Demographics for 33603, FL
19,070
Population
9,592
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,651
Density / Sq Mi
$64,632
Median Household Income
$43,136
Median Earnings
$1,320
Median Rent
$344,100
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 - Each residence includes three upstairs bedrooms, private fencing, and a dedicated garage.
Where is this duplex located?
The property is located at 2-5010 E 32nd Ave Tampa, FL.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,800 SF; each unit is approximately 1,900 SF; Three upstairs bedrooms in each unit; Dedicated garage and large driveway for each residence
