Turnkey Duplex Investment
For Sale
$624,990
2832 MIRIAM STREET S, St Petersburg, FL 33711
Fully renovated duplex with two updated 2-bedroom, 1-bath units, including permitted plumbing, electrical, and HVAC improvements.
Property Size2,100 SF
Price / SF$297.61
Days on Market62
Property Features for 2832 MIRIAM STREET S
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
0.16 acres, Dimensions: 69x100
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 34-31-16-34272-002-0020, Public Survey Range: 16, Public Survey Section: 34, Annual Amount: $4,635.66, Tax Block: B, Tax Book Number: 48-1, Legal Description: GULFPORT HARBOR 1ST ADD BLK B, LOT 2, Lot: 2, Year: 2025
Central Air
Central
Listing ID: MFRO6423590, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-07-08, 58 days on market, Special Conditions: None
4 total bedrooms
Built in 1960, Living area: 2100, Living area units: Square Feet, Construction Materials: Block
Subdivision: GULFPORT HARBOR 1ST ADD, MLS Area (Major): 33711 - St Pete/Gulfport, County/Parish: Pinellas
2 total bathrooms
Public, Water Source: Public
Block
Allowed: Yes
Road Surface: Gravel
Storage
Building Details
Year Built
1960
Listing Agency:
BLUE LIGHTHOUSE REALTY INC
(855) 550-0528
Listed By:
Jorge Zea · License #3015804
(786) 268-9772
Source:
Miharaandassociates
Added: Jul 8
Changed: Sep 6
Last Checked: Sep 7 at 8:11AM
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 BLUE LIGHTHOUSE REALTY INC
Investment Insights
Based on property information with market context.
This turnkey duplex offers two spacious 2-bedroom, 1-bathroom units, completely renovated with permitted improvements including plumbing, electrical, and HVAC. Each unit features updated kitchen finishes with contemporary cabinetry, stone countertops, and stainless steel appliances, along with stylish fixtures. Luxury waterproof LVP flooring runs throughout both residences for durability and low-maintenance living.
The property is located on a quiet residential street and is described as being just minutes from Gulfport’s waterfront district, with access to restaurants, boutique shops, art galleries, parks, marinas, beaches, and downtown St. Petersburg.
As a residential income property, it provides an owner-occupant option for rental income while also serving as an investment offering built around modernized, move-in-ready interiors.
The property is located on a quiet residential street and is described as being just minutes from Gulfport’s waterfront district, with access to restaurants, boutique shops, art galleries, parks, marinas, beaches, and downtown St. Petersburg.
As a residential income property, it provides an owner-occupant option for rental income while also serving as an investment offering built around modernized, move-in-ready interiors.
Key Highlights
- Fully renovated duplex built in 1960 with two updated 2‑bedroom, 1‑bath units
- Permitted improvements include plumbing, electrical, and HVAC upgrades
- Each unit features updated kitchens with contemporary cabinetry, stone countertops, and stainless steel appliances
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
$24,512
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
3.92%
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%
$490,240
$490.2K
Cap Rate 7%
$350,171
$350.2K
Cap Rate 9%
$272,356
$272.4K
Market Conditions
NOI Build-Up for 2,100 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
$37.5K $17.88/SF
− Vacancy
−$2.5K −$1.21/SF
EGI
$35.0K $16.67/SF
− OpEx
−$10.5K −$5.00/SF
NOI
$24.5K $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%
$490,240
Cap Rate 7%
$350,171
Cap Rate 9%
$272,356
Alternative Uses
Best Use
Multifamily LT 5
$350.2K
$306.4K – $408.5K
NOI $24,512 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$275.9K
$241.4K – $321.9K
NOI $19,314 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$546.2K
$478.0K – $637.3K
NOI $38,236 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 33711, FL
20,121
Population
9,522
Households
2.1
Avg Household Size
41
Median Age
32%
College-Educated
96%
High-School Grad
4.7 sq mi
ZIP Area
4,281
Density / Sq Mi
$68,295
Median Household Income
$27,156
Median Earnings
$1,819
Median Rent
$253,100
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 - Fully renovated duplex with two updated 2-bedroom, 1-bath units, including permitted plumbing, electrical, and HVAC improvements.
Where is this duplex located?
The property is located at 2832 MIRIAM STREET S St Petersburg, FL.
What is the asking price?
The asking price for this property is $624,990.
What are key features of this property?
This property features: Fully renovated duplex built in 1960 with two updated 2‑bedroom, 1‑bath units; Permitted improvements include plumbing, electrical, and HVAC upgrades; Each unit features updated kitchens with contemporary cabinetry, stone countertops, and stainless steel appliances
