Updated Duplex with Bonus
For Sale
$285,000
2226 /2228 13th Ave W, Bradenton, FL 34205
Separately metered units feature private laundry hookups, remodeled baths, and updated HVAC systems.
Property Size1,248 SF
Price / SF$228.37
Days on Market22
Property Features for 2226 /2228 13th Ave W
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1952
Year Renovated
2023
Buildings
1
Listing Agency:
MICHAEL SAUNDERS & COMPANY
(941) 920-2247
Listed By:
Cathy Palmer · License #3324046
Source:
Susannelosso
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 30 at 8:14PM
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 MICHAEL SAUNDERS & COMPANY
Investment Insights
Based on property information with market context.
This 1,248-square-foot duplex contains two one-bedroom, one-bath units, with a bonus room included in one side. The units have separate electric and gas metering, along with private washer and dryer hookups. Property improvements include remodeled bathrooms completed in 2023, updated HVAC systems, exterior repainting in May 2026, and a shingle hip roof installed in 2005.
The property is in the Wares Creek area of West Bradenton, with access to downtown Bradenton, Village of the Arts, shopping, restaurants, and parks. Gulf beaches are also a short drive away. The site is designated flood zone X.
The property is in the Wares Creek area of West Bradenton, with access to downtown Bradenton, Village of the Arts, shopping, restaurants, and parks. Gulf beaches are also a short drive away. The site is designated flood zone X.
Key Highlights
- Two‑unit property totaling 1,248 SF, with one bedroom and one bath per unit
- One unit includes a bonus room
- Separate electric and gas meters for each side
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
$16,394
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
5.75%
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%
$327,880
$327.9K
Cap Rate 7%
$234,200
$234.2K
Cap Rate 9%
$182,156
$182.2K
Market Conditions
NOI Build-Up for 1,248 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
$24.7K $19.80/SF
− Vacancy
−$1.3K −$1.03/SF
EGI
$23.4K $18.77/SF
− OpEx
−$7.0K −$5.63/SF
NOI
$16.4K $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%
$327,880
Cap Rate 7%
$234,200
Cap Rate 9%
$182,156
Alternative Uses
Best Use
Multifamily LT 5
$234.2K
$204.9K – $273.2K
NOI $16,394 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$215.7K
$188.8K – $251.7K
NOI $15,101 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$367.0K
$321.1K – $428.2K
NOI $25,690 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
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 - Separately metered units feature private laundry hookups, remodeled baths, and updated HVAC systems.
Where is this duplex located?
The property is located at 2226 /2228 13th Ave W Bradenton, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit property totaling 1,248 SF, with one bedroom and one bath per unit; One unit includes a bonus room; Separate electric and gas meters for each side
