Duplex with Vacant
For Sale
$350,000
3602 N 54TH Street, Tampa, FL 33619
Residential Income, TAMPA, FL
Property Size2,000 SF
Lot Size0.13 Acres
Price / SF$175
Days on Market103
Property Features for 3602 N 54TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-16
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 2, Bathroom 3, Bathroom 2
Pets allowed
Yes
Exterior features
Fence
Fencing
Fenced
Appliances
Microwave, Refrigerator
Subdivision
GRANT PARK
Elementary school
Oak Park-HB
Middle school
Burnett-HB
High school
Blake-HB
Directions
From I-4, take Exit 6 and head south on US-41/N 50th St. Turn left onto E Osborne Ave, then right onto N 54th St. Continue to 3602 N 54th St. Property is located on the left.
Standard status
Active
APN
A-10-29-19-4BX-000013-00012.0
Size
2,000 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GRANT PARK LOT 12 & E 1/2 OF CLOSED ALLEY ABUTTING ON W BLOCK 13
Tax Annual Amount
3979
Legal Description
GRANT PARK LOT 12 & E 1/2 OF CLOSED ALLEY ABUTTING ON W BLOCK 13
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Number of units
2
Flooring type
Concrete, Tile, Carpet
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(727) 772-0772
Listed By:
Jona Gamboa · License #3605910
(801) 835-9272
Added: Jun 22
Changed: Oct 2
Last Checked: Oct 2 at 5:06AM
MLS# TB8520824
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.
Built in 1985, this 2,000-square-foot duplex in Tampa has one occupied unit and a second unit currently vacant. Recent work includes interior and exterior painting, wood repairs, repaired doors, and new carpet in one unit. The property also features central air, electric heat, a fenced lot, and microwave and refrigerator appliances.
The site encompasses 0.13 acres and is zoned RM-16. Public water and sewer serve the property.
The site encompasses 0.13 acres and is zoned RM-16. Public water and sewer serve the property.
Key Highlights
- 2,000‑square‑foot duplex on a 0.13‑acre lot
- One unit is occupied; the other is vacant
- RM‑16 zoning
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
6.67%
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 6.67%
Second Best
Apartment 5plus
$310.1K
$271.3K – $361.8K
NOI $21,705 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$465.9K
$407.7K – $543.6K
NOI $32,616 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
317
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Recent interior and exterior work includes new paint, wood repairs, door repairs, and carpet in one unit.
Where is this duplex located?
The property is located at 3602 N 54TH Street Tampa, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,000‑square‑foot duplex on a 0.13‑acre lot; One unit is occupied; the other is vacant; RM‑16 zoning
