Duplex with Rear
For Sale
$515,000
245 115TH AVE, Treasure Island, FL 33706
Two separate residences offer distinct living spaces, with a carport and additional paved parking on site.
Property Size1,488 SF
Days on Market13
Property Features for 245 115TH AVE
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,338
Building Details
Building Size
1,488 SF
Year Built
1960
Buildings
2
Listing Agency:
COASTAL PROPERTIES GROUP INTERNATIONAL
Listed By:
Kendra Fountain · License #3440645
(727) 420-6791
Source:
Judibeck
Added: Oct 16
Changed: Oct 25
Last Checked: Oct 27 at 12:44AM
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 COASTAL PROPERTIES GROUP INTERNATIONAL
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Investment Insights
Based on property information with market context.
This Treasure Island duplex consists of two separate homes on one lot. The front residence has 2 bedrooms and 1 bathroom, while the rear home provides 1 bedroom and 1 bathroom. Together, the property contains 1,488 square feet of building area and dates to 1960. A carport and an additional parking pad serve the property, with space also described for a boat trailer or beach equipment.
The property is near the beach in Treasure Island. The two-home configuration can accommodate separate occupants, including rental use, or provide space for guests or extended household members.
The property is near the beach in Treasure Island. The two-home configuration can accommodate separate occupants, including rental use, or provide space for guests or extended household members.
Key Highlights
- Two separate homes on one lot: a 2‑bedroom, 1‑bath front residence and a 1‑bedroom, 1‑bath rear residence
- 1,488 square feet of building area
- Built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,369
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$347,380
$347.4K
Cap Rate 7%
$248,129
$248.1K
Cap Rate 9%
$192,989
$193.0K
Market Conditions
NOI Build-Up for 1,488 SF
Gross rent
$26.6K $17.88/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$24.8K $16.67/SF
− OpEx
−$7.4K −$5.00/SF
NOI
$17.4K $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%
$347,380
Cap Rate 7%
$248,129
Cap Rate 9%
$192,989
Alternative Uses
Best Use
Multifamily LT 5
$248.1K
$217.1K – $289.5K
NOI $17,369 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$195.5K
$171.1K – $228.1K
NOI $13,685 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$387.0K
$338.7K – $451.6K
NOI $27,093 @ 7.0% cap · market cap 5.26%
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
660
Businesses Nearby
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Business Placement
Demographics for 33706, FL
15,309
Population
14,199
Households
1.1
Avg Household Size
60
Median Age
54%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,138
Density / Sq Mi
$97,364
Median Household Income
$80,504
Median Earnings
$1,646
Median Rent
$616,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer distinct living spaces, with a carport and additional paved parking on site.
Where is this duplex located?
The property is located at 245 115TH AVE Treasure Island, 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: Two separate homes on one lot: a 2‑bedroom, 1‑bath front residence and a 1‑bedroom, 1‑bath rear residence; 1,488 square feet of building area; Built in 1960
