Duplex With Detached
For Sale
$329,999
2156 17th Ave S, St Petersburg, FL 33712
Two separate residences include a vacant main home and a detached apartment on a non-flood-zone lot.
Property Size1,481 SF
Price / SF$222.82
Days on Market49
Property Features for 2156 17th Ave S
General Information
Standard status
Active
Size
1,481 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$20,340
Building Details
Year Built
1925
Listing Agency:
INSTA REAL ESTATE SOLUTIONS
(813) 586-0654
Listed By:
Charles Rountree, P.A. · License #3361271
Source:
Fulcrum-residential
Added: Jul 14
Changed: Aug 30
Last Checked: Aug 30 at 7:54PM
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 INSTA REAL ESTATE SOLUTIONS
Investment Insights
Based on property information with market context.
This duplex property combines a three-bedroom, one-bathroom main residence with a detached one-bedroom, one-bathroom apartment. The main home is vacant and move-in ready, while the separate apartment provides additional income-producing space. Total living area is approximately 1,481 square feet, including about 1,106 square feet in the primary residence and 375 square feet in the apartment.
Built in 1925, the property received a new roof in March 2026. Both units are described as well-maintained and ready for use, and a satisfactory 4-point inspection is included. The site has a clean no-flood history and is located in a non-flood zone. Its St. Petersburg address provides access to downtown attractions, parks, dining, beaches, and major commuting routes.
Built in 1925, the property received a new roof in March 2026. Both units are described as well-maintained and ready for use, and a satisfactory 4-point inspection is included. The site has a clean no-flood history and is located in a non-flood zone. Its St. Petersburg address provides access to downtown attractions, parks, dining, beaches, and major commuting routes.
Key Highlights
- Two‑unit configuration with a 3‑bedroom main residence and detached 1‑bedroom apartment
- Approximately 1,481 SF of total living space
- Main residence measures approximately 1,106 SF; detached apartment measures 375 SF
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
$17,287
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
5.24%
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%
$345,740
$345.7K
Cap Rate 7%
$246,957
$247.0K
Cap Rate 9%
$192,078
$192.1K
Market Conditions
NOI Build-Up for 1,481 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
$26.5K $17.88/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$24.7K $16.67/SF
− OpEx
−$7.4K −$5.00/SF
NOI
$17.3K $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%
$345,740
Cap Rate 7%
$246,957
Cap Rate 9%
$192,078
Alternative Uses
Best Use
Multifamily LT 5
$247.0K
$216.1K – $288.1K
NOI $17,287 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$194.6K
$170.3K – $227.0K
NOI $13,621 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$385.2K
$337.1K – $449.4K
NOI $26,965 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 33712, FL
26,395
Population
13,055
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
4,124
Density / Sq Mi
$57,729
Median Household Income
$39,589
Median Earnings
$1,440
Median Rent
$300,600
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 separate residences include a vacant main home and a detached apartment on a non-flood-zone lot.
Where is this duplex located?
The property is located at 2156 17th Ave S St Petersburg, FL.
What is the asking price?
The asking price for this property is $329,999.
What are key features of this property?
This property features: Two‑unit configuration with a 3‑bedroom main residence and detached 1‑bedroom apartment; Approximately 1,481 SF of total living space; Main residence measures approximately 1,106 SF; detached apartment measures 375 SF
