Duplex with Private
For Sale
$495,000
2204 54th Avenue Dr W, Bradenton, FL 34207
Two spacious residences offer private garage parking, flexible leases, and fenced outdoor areas.
Property Size2,310 SF
Price / SF$214.29
Days on Market8
Property Features for 2204 54th Avenue Dr W
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Multi-Family
Building Details
Year Built
1978
Listing Agency:
Paradisus Realty Group Co
(941) 281-4973
Listed By:
Client Concierge
(941) 822-0708
Source:
Dwellingwell
Added: Sep 4
Changed: Sep 10
Last Checked: Sep 10 at 6:50AM
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 Paradisus Realty Group Co
Investment Insights
Based on property information with market context.
This 2,310-square-foot duplex contains two generously sized residences, each with three bedrooms, two bathrooms, a dedicated washer and dryer closet, linen storage, and an eat-in kitchen with space for a full dining table. Each unit also has its own full garage. The property sits on a 12,000-square-foot lot with a fully fenced backyard.
Built in 1978 with block construction over a concrete slab, the building has a roof replaced in 2010 and two A/C units replaced within the last five years. Both residences are occupied by long-term tenants on month-to-month leases, providing lease flexibility for an investor or owner-occupant. The property is located at 2204 54th Avenue Dr W in Bradenton, Florida.
Built in 1978 with block construction over a concrete slab, the building has a roof replaced in 2010 and two A/C units replaced within the last five years. Both residences are occupied by long-term tenants on month-to-month leases, providing lease flexibility for an investor or owner-occupant. The property is located at 2204 54th Avenue Dr W in Bradenton, Florida.
Key Highlights
- 2,310‑square‑foot duplex on a 12,000‑square‑foot lot
- Each unit includes a full garage
- Both residences offer 3 bedrooms and 2 bathrooms
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
$30,345
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
6.13%
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%
$606,900
$606.9K
Cap Rate 7%
$433,500
$433.5K
Cap Rate 9%
$337,167
$337.2K
Market Conditions
NOI Build-Up for 2,310 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
$45.7K $19.80/SF
− Vacancy
−$2.4K −$1.03/SF
EGI
$43.4K $18.77/SF
− OpEx
−$13.0K −$5.63/SF
NOI
$30.3K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /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%
$606,900
Cap Rate 7%
$433,500
Cap Rate 9%
$337,167
Alternative Uses
Best Use
Multifamily LT 5
$433.5K
$379.3K – $505.8K
NOI $30,345 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$399.3K
$349.4K – $465.8K
NOI $27,950 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$679.3K
$594.4K – $792.5K
NOI $47,551 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 34207, FL
35,281
Population
19,411
Households
1.8
Avg Household Size
45
Median Age
16%
College-Educated
84%
High-School Grad
6.2 sq mi
ZIP Area
5,690
Density / Sq Mi
$49,162
Median Household Income
$33,035
Median Earnings
$1,270
Median Rent
$122,100
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 - Two spacious residences offer private garage parking, flexible leases, and fenced outdoor areas.
Where is this duplex located?
The property is located at 2204 54th Avenue Dr W Bradenton, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,310‑square‑foot duplex on a 12,000‑square‑foot lot; Each unit includes a full garage; Both residences offer 3 bedrooms and 2 bathrooms
