Two-Unit Duplex With Private
For Sale
$399,000
2834 & 2836 FREEMONT TERRACE S, St Petersburg, FL 33712
Renovated two-unit duplex with private driveway parking for each unit and fenced side and rear yards.
Property Size1,304 SF
Price / SF$305.98
Days on Market61
Property Features for 2834 & 2836 FREEMONT TERRACE S
General Information
Standard status
Active
Size
1,304 SF
Property subtype
Duplex
Building Details
Year Built
1959
Listing Agency:
AGILE GROUP REALTY
(813) 569-6294
Listed By:
Kyle Gruber · License #3382111
(904) 687-7876
Source:
Endlesssummerrealty
Added: Jul 9
Changed: Sep 6
Last Checked: Sep 7 at 8:16AM
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 AGILE GROUP REALTY
Investment Insights
Based on property information with market context.
This two-unit duplex offers two separate residences with recent upgrades throughout and a roof replacement completed in 2023. Unit one has been refreshed with new flooring, new paint, stainless steel appliances, updated cabinetry, new windows and doors, a new bathroom vanity, and new carpet. Unit two also features new flooring and paint, new windows and doors, stainless steel appliances, and an updated bathroom.
Each unit includes its own private driveway parking. The fenced side and rear yards add privacy and usable outdoor space.
A vacancy in one unit is expected as of 7/31, creating flexibility for buyers looking to occupy one unit while renting the other, or renting both units.
Each unit includes its own private driveway parking. The fenced side and rear yards add privacy and usable outdoor space.
A vacancy in one unit is expected as of 7/31, creating flexibility for buyers looking to occupy one unit while renting the other, or renting both units.
Key Highlights
- Renovated 1959‑built two‑unit duplex with updates in both units
- Unit 1 refreshed with new flooring, new paint, stainless steel appliances, updated cabinetry, new windows and doors, and updated bathroom vanity
- Unit 2 updated with new flooring and paint, stainless steel appliances, new windows and doors, and an updated bathroom
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
$15,221
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
3.81%
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%
$304,420
$304.4K
Cap Rate 7%
$217,443
$217.4K
Cap Rate 9%
$169,122
$169.1K
Market Conditions
NOI Build-Up for 1,304 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
$23.3K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$21.7K $16.67/SF
− OpEx
−$6.5K −$5.00/SF
NOI
$15.2K $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%
$304,420
Cap Rate 7%
$217,443
Cap Rate 9%
$169,122
Alternative Uses
Best Use
Multifamily LT 5
$217.4K
$190.3K – $253.7K
NOI $15,221 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$171.3K
$149.9K – $199.9K
NOI $11,993 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$339.2K
$296.8K – $395.7K
NOI $23,743 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 33712, FL
26,395
Population
13,055
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
4,124
Density / Sq Mi
$57,729
Median Household Income
$39,589
Median Earnings
$1,440
Median Rent
$300,600
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 - Renovated two-unit duplex with private driveway parking for each unit and fenced side and rear yards.
Where is this duplex located?
The property is located at 2834 & 2836 FREEMONT TERRACE S St Petersburg, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Renovated 1959‑built two‑unit duplex with updates in both units; Unit 1 refreshed with new flooring, new paint, stainless steel appliances, updated cabinetry, new windows and doors, and updated bathroom vanity; Unit 2 updated with new flooring and paint, stainless steel appliances, new windows and doors, and an updated bathroom
