Updated Duplex with Private
New
For Sale
$595,000
230 48TH Avenue N, St Petersburg, FL 33703
Residential Income, 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
Bathroom 2, Bedroom 3, Laundry Room, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Parking features
Driveway, Open
Window features
Blinds
Patio and Porch features
Deck
Pets allowed
Size Limit, Cats OK, Breed Restrictions, Dogs OK
Interior features
Ceiling Fans(s), Eat-in Kitchen, Open Floorplan, Thermostat, Window Treatments
Exterior features
Fence, Lighting, Private Entrance, Storage
Fencing
Fenced
Appliances
Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
HARCOURT
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
6285
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
Vinyl
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
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# TB8547986
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 updated duplex at 230 48TH Avenue N in St. Petersburg contains 1,566 square feet across two residences, each with two bedrooms, one bathroom, a living area, and an open galley kitchen. Both units include private laundry with a washer and dryer, while separate electric meters support independent utility management. The rear residence connects to a screened porch and fenced yard; the front residence also has its own enclosed outdoor area. The property provides four dedicated parking spaces and sits on a 0.19-acre lot measuring 67 feet by 127 feet.
Built in 1977, the block construction includes central heating and cooling, vinyl flooring, public water, public sewer, and a shingle roof. The property is located in Northeast St. Petersburg near grocery stores, dining, shopping, and other daily conveniences, with Downtown St. Petersburg less than 10 minutes away. The address is in Pinellas County, Florida, with ZIP Code 33703.
Built in 1977, the block construction includes central heating and cooling, vinyl flooring, public water, public sewer, and a shingle roof. The property is located in Northeast St. Petersburg near grocery stores, dining, shopping, and other daily conveniences, with Downtown St. Petersburg less than 10 minutes away. The address is in Pinellas County, Florida, with ZIP Code 33703.
Key Highlights
- 1,566‑square‑foot duplex with two 2‑bedroom, 1‑bath residences
- Each unit includes private laundry with washer and dryer
- Separate electric meters for the two residences
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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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
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
View Realmo Analytics
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 separately metered residences offer private laundry and outdoor space.
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: 1,566‑square‑foot duplex with two 2‑bedroom, 1‑bath residences; Each unit includes private laundry with washer and dryer; Separate electric meters for the two residences
