Two-Unit Duplex with Assigned
For Sale
$290,000
3602 N 54th St, Tampa, FL 33619
Income-producing duplex with two-bedroom units, central air conditioning, public utilities, and durable metal roofing.
Property Size2,000 SF
Price / SF$145
Days on Market57
Property Features for 3602 N 54th St
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Residential Income
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,979
Building Details
Year Built
1985
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(801) 835-9272
Listed By:
Jona Gamboa · License #3605910
(801) 835-9272
Source:
Exprealty
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 16 at 9:33AM
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- PALM HARBOR
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,000 heated square feet arranged as two 2-bedroom, 1.5-bath units. Built in 1985, the property includes central air conditioning, tile, carpet, and concrete flooring, along with a metal roof and assigned parking.
Public water and sewer services support the property, with access to major roadways, shopping, dining, parks, schools, and other local amenities.
Public water and sewer services support the property, with access to major roadways, shopping, dining, parks, schools, and other local amenities.
Key Highlights
- Two 2‑bedroom, 1.5‑bath units
- Approximately 2,000 heated square feet
- Built in 1985 with a metal roof
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
$23,345
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
8.05%
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%
$466,900
$466.9K
Cap Rate 7%
$333,500
$333.5K
Cap Rate 9%
$259,389
$259.4K
Market Conditions
NOI Build-Up for 2,000 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
$35.8K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$33.3K $16.67/SF
− OpEx
−$10.0K −$5.00/SF
NOI
$23.3K $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%
$466,900
Cap Rate 7%
$333,500
Cap Rate 9%
$259,389
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.8K – $389.1K
NOI $23,345 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$310.1K
$271.3K – $361.8K
NOI $21,705 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$465.9K
$407.7K – $543.6K
NOI $32,616 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
319
Businesses Nearby
Explore this area
Business Placement
Demographics for 33619, FL
39,881
Population
15,360
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
83%
High-School Grad
27.5 sq mi
ZIP Area
1,450
Density / Sq Mi
$63,193
Median Household Income
$38,448
Median Earnings
$1,618
Median Rent
$220,300
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 - Income-producing duplex with two-bedroom units, central air conditioning, public utilities, and durable metal roofing.
Where is this duplex located?
The property is located at 3602 N 54th St Tampa, FL.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1.5‑bath units; Approximately 2,000 heated square feet; Built in 1985 with a metal roof
