Updated Duplex with
For Sale
$515,000
Pending
2415 POWERS STREET, Palm Harbor, FL 34683
Two refreshed residential units offer flexible rental and multigenerational living arrangements.
Property Size1,568 SF
Days on Market649
Property Features for 2415 POWERS STREET
General Information
Standard status
Pending
Size
1,568 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$4,965
Building Details
Year Built
1982
Buildings
1
Listing Agency:
CHARLES RUTENBERG REALTY INC
(619) 955-0255
Listed By:
Amie Parcinski · License #3549251
(619) 955-0255
Source:
Exitrealty
Added: Nov 20, 2024
Changed: Aug 29
Last Checked: Aug 30 at 3:36PM
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 CHARLES RUTENBERG REALTY INC
Investment Insights
Based on property information with market context.
This 1,568-square-foot duplex, built in 1982, contains two residential units with matching layouts of two bedrooms and one bathroom. Each side includes its own garage. Recent improvements include remodeled kitchens with stainless steel appliances, updated cabinetry and countertops, renovated bathrooms, and replacement flooring throughout. Property systems have also received attention, including a new water heater, HVAC and duct cleaning, two new electrical panels, and additional electrical work.
The property has operated as a short-term rental through Airbnb and VRBO, with the business branding and rental history included in the sale. Its two-unit configuration supports continued rental use, owner occupancy of one side with the other rented, or multigenerational living.
The property has operated as a short-term rental through Airbnb and VRBO, with the business branding and rental history included in the sale. Its two-unit configuration supports continued rental use, owner occupancy of one side with the other rented, or multigenerational living.
Key Highlights
- Duplex with 2 units, each offering 2 bedrooms and 1 bathroom
- 1,568 SF building constructed in 1982
- Private garage included with each unit
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
$18,302
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
3.55%
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%
$366,040
$366.0K
Cap Rate 7%
$261,457
$261.5K
Cap Rate 9%
$203,356
$203.4K
Market Conditions
NOI Build-Up for 1,568 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%
$366,040
Cap Rate 7%
$261,457
Cap Rate 9%
$203,356
Alternative Uses
Best Use
Multifamily LT 5
$261.5K
$228.8K – $305.0K
NOI $18,302 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$206.0K
$180.3K – $240.4K
NOI $14,421 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$407.8K
$356.9K – $475.8K
NOI $28,549 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Explore this area
Business Placement
Demographics for 34683, FL
33,453
Population
15,686
Households
2.1
Avg Household Size
49
Median Age
43%
College-Educated
95%
High-School Grad
10.3 sq mi
ZIP Area
3,248
Density / Sq Mi
$90,037
Median Household Income
$53,330
Median Earnings
$1,655
Median Rent
$424,200
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 - Two refreshed residential units offer flexible rental and multigenerational living arrangements.
Where is this duplex located?
The property is located at 2415 POWERS STREET Palm Harbor, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Duplex with 2 units, each offering 2 bedrooms and 1 bathroom; 1,568 SF building constructed in 1982; Private garage included with each unit
