Detached-Unit
For Sale
$360,000
3131 17TH N STREET, St Petersburg, FL 33713
Two separately fenced residences include a two-bedroom main home and a detached efficiency with outdoor storage.
Property Size1,076 SF
Price / SF$334.57
Days on Market594
Property Features for 3131 17TH N STREET
General Information
Standard status
Active
Size
1,076 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x efficiency
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,716
Building Details
Year Built
1958
Buildings
2
Construction
concrete block
Listing Agency:
BAHAM DAVIS REALTY LLC
(813) 417-8823
Listed By:
Glenn Davis, Jr. · License #3391476
(813) 417-8823
Source:
Exitrealty
Added: Jan 15, 2025
Changed: Aug 30
Last Checked: Aug 31 at 2:03PM
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 BAHAM DAVIS REALTY LLC
Investment Insights
Based on property information with market context.
This legal duplex contains 1,076 square feet across a concrete-block main residence and a detached efficiency unit. The primary unit, built in 1958, offers two bedrooms, one bathroom, a family room, and an inside utility room. The second residence includes a covered patio, metal storage building, and a utility room with washer and dryer hookups, giving each unit a distinct physical layout.
Both units received new roofs in July 2022, with roof-to-wall hurricane clips installed on each. The main residence also has a three-zone mini-split system installed in August 2024. Custom fencing separates the units on the lot. The property at 3131 17th N Street in St. Petersburg provides access to I-275, downtown St. Pete, shopping, dining, beaches, and airports.
Both units received new roofs in July 2022, with roof-to-wall hurricane clips installed on each. The main residence also has a three-zone mini-split system installed in August 2024. Custom fencing separates the units on the lot. The property at 3131 17th N Street in St. Petersburg provides access to I-275, downtown St. Pete, shopping, dining, beaches, and airports.
Key Highlights
- Legal duplex with 1,076 square feet across two separate units
- Main unit has 2 bedrooms, 1 bath, family room, and inside utility room
- Detached efficiency includes a large covered patio and metal storage building
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
$12,560
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
3.49%
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%
$251,200
$251.2K
Cap Rate 7%
$179,429
$179.4K
Cap Rate 9%
$139,556
$139.6K
Market Conditions
NOI Build-Up for 1,076 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
$19.2K $17.88/SF
− Vacancy
−$1.3K −$1.21/SF
EGI
$17.9K $16.67/SF
− OpEx
−$5.4K −$5.00/SF
NOI
$12.6K $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%
$251,200
Cap Rate 7%
$179,429
Cap Rate 9%
$139,556
Alternative Uses
Best Use
Multifamily LT 5
$179.4K
$157.0K – $209.3K
NOI $12,560 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$141.4K
$123.7K – $164.9K
NOI $9,896 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$279.9K
$244.9K – $326.5K
NOI $19,591 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 33713, FL
31,321
Population
16,192
Households
1.9
Avg Household Size
42
Median Age
35%
College-Educated
91%
High-School Grad
6.5 sq mi
ZIP Area
4,819
Density / Sq Mi
$69,704
Median Household Income
$43,282
Median Earnings
$1,387
Median Rent
$279,000
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 separately fenced residences include a two-bedroom main home and a detached efficiency with outdoor storage.
Where is this duplex located?
The property is located at 3131 17TH N STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Legal duplex with 1,076 square feet across two separate units; Main unit has 2 bedrooms, 1 bath, family room, and inside utility room; Detached efficiency includes a large covered patio and metal storage building
