Side-by-Side
For Sale
$329,990
3417 N 29TH STREET, Tampa, FL 33605
Both residences are occupied and have separate electric meters, with outdoor areas and off-street parking.
Property Size1,674 SF
Price / SF$197.13
Days on Market8
Property Features for 3417 N 29TH STREET
General Information
Standard status
Active
Size
1,674 SF
Property subtype
Half Duplex
Building Details
Year Built
1987
Listing Agency:
KELLER WILLIAMS REALTY SMART 1
(863) 508-3000
Listed By:
David Small · License #3319175
(407) 601-8351
Source:
Endlesssummerrealty
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 1 at 11:11AM
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 KELLER WILLIAMS REALTY SMART 1
Investment Insights
Based on property information with market context.
Built in 1987, this 1,674-square-foot duplex contains two side-by-side units, each with 2 bedrooms and 1 bathroom. One unit has vinyl flooring with tile in the kitchen; the other has tile throughout. Both residences include ceiling fans and fresh paint. The property has a new roof dated 2026, and the air-conditioning systems were replaced in 2023 for Unit A and 2022 for Unit B.
Outdoor features include side patios, backyard areas, vinyl fencing, a driveway, and off-street parking. Separate electric meters serve the units, and the property is Section 8 eligible. It is located in Tampa near Historic Ybor City and Downtown, with access to major highways and roadways, restaurants, shopping, entertainment, and parks.
Outdoor features include side patios, backyard areas, vinyl fencing, a driveway, and off-street parking. Separate electric meters serve the units, and the property is Section 8 eligible. It is located in Tampa near Historic Ybor City and Downtown, with access to major highways and roadways, restaurants, shopping, entertainment, and parks.
Key Highlights
- Two occupied 2‑bedroom, 1‑bath units in a side‑by‑side layout
- 1,674 square feet; built in 1987
- New roof dated 2026; Unit A AC replaced in 2023 and Unit B AC in 2022
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
$19,540
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
5.92%
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%
$390,800
$390.8K
Cap Rate 7%
$279,143
$279.1K
Cap Rate 9%
$217,111
$217.1K
Market Conditions
NOI Build-Up for 1,674 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
$29.9K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.9K $16.67/SF
− OpEx
−$8.4K −$5.00/SF
NOI
$19.5K $11.67/SF
Area
Tampa, 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%
$390,800
Cap Rate 7%
$279,143
Cap Rate 9%
$217,111
Alternative Uses
Best Use
Multifamily LT 5
$279.1K
$244.3K – $325.7K
NOI $19,540 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$259.5K
$227.1K – $302.8K
NOI $18,167 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$390.0K
$341.3K – $455.0K
NOI $27,300 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 33605, FL
18,243
Population
8,994
Households
2
Avg Household Size
36
Median Age
21%
College-Educated
79%
High-School Grad
7.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$36,790
Median Household Income
$35,889
Median Earnings
$1,122
Median Rent
$235,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and have separate electric meters, with outdoor areas and off-street parking.
Where is this duplex located?
The property is located at 3417 N 29TH STREET Tampa, FL.
What is the asking price?
The asking price for this property is $329,990.
What are key features of this property?
This property features: Two occupied 2‑bedroom, 1‑bath units in a side‑by‑side layout; 1,674 square feet; built in 1987; New roof dated 2026; Unit A AC replaced in 2023 and Unit B AC in 2022
