Two-Unit
2318 7TH STREET S, St Petersburg, FL 33705
For Sale
New
$289,000
Each residence has two bedrooms and one bathroom, and one unit is vacant.
Property Size1,275 SF
Price / SF$226.67
Days on Market6
Property Features for 2318 7TH STREET S
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
INSTA REAL ESTATE SOLUTIONS
Listed By:
Charles Rountree, PA · License #3361271
(813) 586-0654
Source:
Endlesssummerrealty
Added: Nov 2
Changed: Nov 6
Last Checked: Nov 6 at 9:37AM
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
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Investment Insights
Based on property information with market context.
Built in 1947, this duplex contains two residences, each with two bedrooms and one bathroom. One unit is occupied and the other is vacant. Work completed within the past five years includes updates to the roof, central air conditioning, and water heater. Tile flooring, cabinetry, fixtures, and interior and exterior paint have also been refreshed. The property is in St. Petersburg, Florida.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- One unit is occupied; the other is vacant
- Roof, central AC, and water heater updated within the last 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,882
Cap Rate
5.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,640
$297.6K
Cap Rate 7%
$212,600
$212.6K
Cap Rate 9%
$165,356
$165.4K
Market Conditions
NOI Build-Up for 1,275 SF
Gross rent
$22.8K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$21.3K $16.67/SF
− OpEx
−$6.4K −$5.00/SF
NOI
$14.9K $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 Rate 5%
$297,640
Cap Rate 7%
$212,600
Cap Rate 9%
$165,356
Alternative Uses
Best Use
Multifamily LT 5
$212.6K
$186.0K – $248.0K
NOI $14,882 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$167.5K
$146.6K – $195.4K
NOI $11,726 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$331.6K
$290.2K – $386.9K
NOI $23,215 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
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Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in St Petersburg, FL
Properties on Market for Duplexes in St Petersburg
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bathroom, and one unit is vacant.
Where is this duplex located?
The property is located at 2318 7TH STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; One unit is occupied; the other is vacant; Roof, central AC, and water heater updated within the last 5 years
