Duplex with Two Separate
For Sale
$449,000
3235 EMERSON Avenue S, St Petersburg, FL 33712
MULTI_FAMILY - ST PETERSBURG, FL
Property Size1,472 SF
Lot Size0.13 Acres
Price / SF$305.03
Days on Market120
Property Features for 3235 EMERSON Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Family Room, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Interior features
Kitchen/Family Room Combo, Thermostat, Window Treatments
Exterior features
Private Entrance, Private Mailbox
Subdivision
ROOSEVELT PARK ADD
Directions
Follow gps. exit 21 from 275 S,THEN 28TH ST S TURN FAIRFIELD AVE S TURN 31ST S TURN EMERSON AVE S ON YOUR RIGHT 3235 EMERSON AVE S .
Standard status
Active
APN
23-31-16-76590-011-0130
Size
1,472 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ROOSEVELT PARK ADD BLK 11, E 1/2 OF LOT 12 & ALL OF LOT 13
Tax Annual Amount
4019
Legal Description
ROOSEVELT PARK ADD BLK 11, E 1/2 OF LOT 12 & ALL OF LOT 13
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Ductless (Heating)
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1960
Building materials
Block
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY PORTFOLIO COLLECTION
(727) 489-0800
Listed By:
Mittu Mathew · License #3512493
(727) 331-3759
Added: Apr 9
Changed: Aug 2
Last Checked: Aug 6 at 1:06PM
MLS# TB8496146
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex features two separate entrances and a configuration designed to support flexible redevelopment planning, including an approved city variance (buyer to verify with city/county). The property is built with block construction and was built in 1960. Interior features include a kitchen/family room combo, a thermostat, and window treatments.
The home is improved with public water and public sewer service, with a shingle roof. Heating is electric with ductless systems, and cooling is provided by central air along with window and wall/window units. The property includes multiple bedrooms and bathrooms, including a family room, and includes private entrance and private mailbox features.
Outside of flood risk, the property is described as located in a non-flood zone. The lot size is 0.13 acres, and the property size is 1,472 square feet.
The home is improved with public water and public sewer service, with a shingle roof. Heating is electric with ductless systems, and cooling is provided by central air along with window and wall/window units. The property includes multiple bedrooms and bathrooms, including a family room, and includes private entrance and private mailbox features.
Outside of flood risk, the property is described as located in a non-flood zone. The lot size is 0.13 acres, and the property size is 1,472 square feet.
Key Highlights
- 0.13‑acre lot and 1,472 SF duplex built in 1960
- Two separate entrances for flexible use
- Approved city variance (buyer to verify with city/county)
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
$17,182
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
3.83%
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%
$343,640
$343.6K
Cap Rate 7%
$245,457
$245.5K
Cap Rate 9%
$190,911
$190.9K
Market Conditions
NOI Build-Up for 1,472 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
$26.3K $17.88/SF
− Vacancy
−$1.8K −$1.21/SF
EGI
$24.5K $16.67/SF
− OpEx
−$7.4K −$5.00/SF
NOI
$17.2K $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%
$343,640
Cap Rate 7%
$245,457
Cap Rate 9%
$190,911
Alternative Uses
Best Use
Multifamily LT 5
$245.5K
$214.8K – $286.4K
NOI $17,182 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$193.4K
$169.2K – $225.6K
NOI $13,538 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$382.9K
$335.0K – $446.7K
NOI $26,802 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,041
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a small lot with two separate entrances and non-flood zone status.
Where is this duplex located?
The property is located at 3235 EMERSON Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 0.13‑acre lot and 1,472 SF duplex built in 1960; Two separate entrances for flexible use; Approved city variance (buyer to verify with city/county)
