Renovated Duplex with New
For Sale
$535,000
260 20th Ave S, St Petersburg, FL 33705
Concrete-block property with separate laundry and private outdoor space for the larger residence.
Property Size1,360 SF
Price / SF$393.38
Days on Market33
Property Features for 260 20th Ave S
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA (850 sf), 1 x 1BR/1BA (530 sf)
Multifamily Units
2
Amenities
in-unit washer/dryer
private outdoor space
Building Details
Year Built
1948
Buildings
1
Construction
concrete block
Listing Agency:
DOUGLAS ELLIMAN
(727) 743-5021
Listed By:
Fonda Sabin · License #454342
Source:
Flflourish
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 30 at 6:46PM
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 DOUGLAS ELLIMAN
Investment Insights
Based on property information with market context.
Built in 1948, this renovated concrete-block duplex contains two distinct residences. The larger apartment measures approximately 850 square feet and includes two bedrooms, two ensuite bathrooms, a kitchen, private laundry, and outdoor space. The second residence offers approximately 530 square feet with one bedroom, an ensuite bathroom, kitchen storage, private laundry, and living space.
Recent improvements include a new roof installed in 2025, new AC units in both apartments in 2023, impact windows from 2023, new hot water tanks from 2024, and new appliances from 2024. Each residence has its own washer and dryer. The property is located at 260 20TH AVE S in St. Petersburg, approximately 1 mile south of Downtown St. Petersburg and near USF St. Petersburg, Johns Hopkins All Children's Hospital, Orlando Health Bayfront Hospital, the St. Pete Innovation District, downtown waterfront parks, museums, restaurants, and Tampa Bay.
Recent improvements include a new roof installed in 2025, new AC units in both apartments in 2023, impact windows from 2023, new hot water tanks from 2024, and new appliances from 2024. Each residence has its own washer and dryer. The property is located at 260 20TH AVE S in St. Petersburg, approximately 1 mile south of Downtown St. Petersburg and near USF St. Petersburg, Johns Hopkins All Children's Hospital, Orlando Health Bayfront Hospital, the St. Pete Innovation District, downtown waterfront parks, museums, restaurants, and Tampa Bay.
Key Highlights
- Two‑unit layout with approximately 850 SF 2‑bedroom/2‑bath residence and approximately 530 SF 1‑bedroom/1‑bath residence
- New roof installed in 2025
- New AC units in both apartments, installed in 2023
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
$15,874
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
2.97%
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%
$317,480
$317.5K
Cap Rate 7%
$226,771
$226.8K
Cap Rate 9%
$176,378
$176.4K
Market Conditions
NOI Build-Up for 1,360 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
$24.3K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$22.7K $16.67/SF
− OpEx
−$6.8K −$5.00/SF
NOI
$15.9K $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 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%
$317,480
Cap Rate 7%
$226,771
Cap Rate 9%
$176,378
Alternative Uses
Best Use
Multifamily LT 5
$226.8K
$198.4K – $264.6K
NOI $15,874 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$178.7K
$156.4K – $208.5K
NOI $12,508 @ 7.0% cap · market cap 2.34%
Theoretical Best
Office A
$353.7K
$309.5K – $412.7K
NOI $24,762 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
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
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 - Concrete-block property with separate laundry and private outdoor space for the larger residence.
Where is this duplex located?
The property is located at 260 20th Ave S St Petersburg, FL.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two‑unit layout with approximately 850 SF 2‑bedroom/2‑bath residence and approximately 530 SF 1‑bedroom/1‑bath residence; New roof installed in 2025; New AC units in both apartments, installed in 2023
