Updated Duplex with Private
New
For Sale
$595,000
230 48TH Avenue N, St Petersburg, FL 33703
Residential, ST PETERSBURG, FL
Property Size1,566 SF
Lot Size0.19 Acres
Price / SF$379.95
Days on Market7
Property Features for 230 48TH Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4
Parking features
Open
Window features
Blinds
Patio and Porch features
Porch, Deck
Interior features
Ceiling Fans(s), Eat-in Kitchen, Open Floorplan, Solid Surface Counters, Thermostat
Exterior features
Rain Gutters
Fencing
Fenced
Appliances
Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer, Wine Refrigerator
Subdivision
HARCOURT
Lot features
Flood Zone, City Limits, Landscaped, Near Public Transit, Paved
Directions
From I-275 Take I-275 to Exit 26B - 54th Ave N / 4th St N. Head west on 54th Ave N toward 4th St N. Turn left (south) onto 4th St N. Continue south to 48th Ave N. Turn left onto 48th Ave N. 230 48th Ave N will be on the right.
Standard status
Active
APN
06-31-17-36702-004-0030
Size
1,566 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HARCOURT BLK D, LOT 3 AND E 1/2 OF LOT 2
Tax Annual Amount
6280
Legal Description
HARCOURT BLK D, LOT 3 AND E 1/2 OF LOT 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
private laundry
screened porch
fenced yard
Building Details
Year built
1977
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(727) 342-3800
Listed By:
Becky McConnell · License #3233737
(727) 410-1898
Added: Sep 12
Changed: Sep 18
Last Checked: Sep 18 at 8:06PM
MLS# TB8539628
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 1977 duplex contains 1,566 square feet across two residences, with each unit providing two bedrooms, one bathroom, a living area, and an open galley kitchen. The property includes tile and vinyl flooring, central electric heating and cooling, solid-surface counters, and private washers and dryers. A screened porch serves the rear residence, while both units have separate fenced outdoor areas. The building is constructed of block and stucco and has a shingle roof.
The property sits on a 0.19-acre lot measuring 67 feet by 127 feet in Northeast St. Petersburg. Separate electric metering and four open parking spaces support independent occupancy. Public water and sewer are available, along with cable service. Publix, Whole Foods Market, Trader Joe's, The Fresh Market, Chick-fil-A, shopping, and dining are nearby, while Downtown St. Petersburg is less than 10 minutes away.
The property sits on a 0.19-acre lot measuring 67 feet by 127 feet in Northeast St. Petersburg. Separate electric metering and four open parking spaces support independent occupancy. Public water and sewer are available, along with cable service. Publix, Whole Foods Market, Trader Joe's, The Fresh Market, Chick-fil-A, shopping, and dining are nearby, while Downtown St. Petersburg is less than 10 minutes away.
Key Highlights
- Two‑unit duplex with 1,566 square feet of total living area
- Each residence includes 2 bedrooms and 1 bathroom
- 0.19‑acre lot measuring 67' x 127'
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
$18,279
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
3.07%
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%
$365,580
$365.6K
Cap Rate 7%
$261,129
$261.1K
Cap Rate 9%
$203,100
$203.1K
Market Conditions
NOI Build-Up for 1,566 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
$28.0K $17.88/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$26.1K $16.67/SF
− OpEx
−$7.8K −$5.00/SF
NOI
$18.3K $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%
$365,580
Cap Rate 7%
$261,129
Cap Rate 9%
$203,100
Alternative Uses
Best Use
Multifamily LT 5
$261.1K
$228.5K – $304.7K
NOI $18,279 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$205.8K
$180.0K – $240.1K
NOI $14,403 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$407.3K
$356.4K – $475.2K
NOI $28,513 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 33703, FL
23,948
Population
12,331
Households
1.9
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
4,790
Density / Sq Mi
$96,795
Median Household Income
$56,760
Median Earnings
$1,569
Median Rent
$395,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 refreshed residences offer separate laundry, fenced outdoor areas, and dedicated parking.
Where is this duplex located?
The property is located at 230 48TH Avenue N St Petersburg, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,566 square feet of total living area; Each residence includes 2 bedrooms and 1 bathroom; 0.19‑acre lot measuring 67' x 127'
