Duplex with Guest
New
For Sale
$499,000
3913 N LYNN AVENUE, Tampa, FL 33603
Updated two-residence property with independent access, dedicated parking, and a fenced outdoor area for the secondary living space.
Property Size1,352 SF
Price / SF$369.08
Days on Market6
Property Features for 3913 N LYNN AVENUE
General Information
Standard status
Active
Size
1,352 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
courtyard
covered patio
storage shed
washer/dryer
0.17 acres, Dimensions: 54x141, City Limits, Near Public Transit, Oversized Lot, Paved
Shingle
Public Sewer
Additional parcels description:, Parcel Number: A-12-29-18-4I7-000000-00008.0, Public Survey Range: 18, Public Survey Section: 12, Annual Amount: $4,147, Tax Block: 000000, Tax Book Number: 5-47, Legal Description: DEANE'S PERCY LOT 8, Lot: 8, Year: 2025, Zoning: RS-50
Luxury Vinyl, Tile
Gross Income: $39,600
Central Air, Mini-Split Unit(s)
Central, Electric, Heat Pump, Ductless
Inside, Laundry Closet
Listing ID: MFRTB8536799, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-07, 1 day on market, Special Conditions: None
Driveway, On Street
Blinds, Double Pane Windows
3 total bedrooms
Built in 1928, Living area: 1352, Living area units: Square Feet, Levels: One, Construction Materials: Stucco, Frame
Subdivision: DEANES PERCY, MLS Area (Major): 33603 - Tampa / Seminole Heights, County/Parish: Hillsborough
Other structures: Shed(s)
2 total bathrooms
Dog Park, Playground, Street Lights
Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
Crawlspace, Slab
Allowed: Yes
Road Responsibility: Public Maintained Road, Road Surface: Asphalt
Patio/Porch Features: Covered, Patio, Courtyard, Private Yard, Rain Gutters, Storage
Ceiling Fans(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor
Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer, Other equipment: Private Yard
Building Details
Year Built
1928
Buildings
1
Listing Agency:
COMPASS FLORIDA LLC
(813) 365-9935
Listed By:
Mike Grizzell · License #3221211
Source:
Miharaandassociates
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 4:49AM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This 1928 duplex includes a three-bedroom main residence and a private attached guest apartment. The primary home has an updated bathroom, open living and dining areas, wood-look flooring, a white-cabinet kitchen, and a sliding barn door. The apartment functions separately with its own side entrance, full kitchen, full bathroom, washer and dryer, designated parking area, and dedicated AC mini-split system.
Outdoor features include a fenced red-brick courtyard serving the apartment, an oversized fully fenced backyard, a covered patio with a ceiling fan, mature trees, and a storage shed. The property is located at 3913 N Lynn Avenue in Tampa, less than two miles from Downtown Tampa and near Armature Works, Ulele, the Tampa Riverwalk, Water Works Park, restaurants, entertainment, and cultural attractions.
Outdoor features include a fenced red-brick courtyard serving the apartment, an oversized fully fenced backyard, a covered patio with a ceiling fan, mature trees, and a storage shed. The property is located at 3913 N Lynn Avenue in Tampa, less than two miles from Downtown Tampa and near Armature Works, Ulele, the Tampa Riverwalk, Water Works Park, restaurants, entertainment, and cultural attractions.
Key Highlights
- Private attached guest apartment with full kitchen, bathroom, washer and dryer
- Independent apartment access, designated parking, and dedicated AC mini‑split system
- Three‑bedroom main residence with renovated bathroom and open living‑dining layout
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
$15,781
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
3.16%
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%
$315,620
$315.6K
Cap Rate 7%
$225,443
$225.4K
Cap Rate 9%
$175,344
$175.3K
Market Conditions
NOI Build-Up for 1,352 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
$24.2K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$22.5K $16.67/SF
− OpEx
−$6.8K −$5.00/SF
NOI
$15.8K $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%
$315,620
Cap Rate 7%
$225,443
Cap Rate 9%
$175,344
Alternative Uses
Best Use
Multifamily LT 5
$225.4K
$197.3K – $263.0K
NOI $15,781 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$209.6K
$183.4K – $244.6K
NOI $14,673 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$315.0K
$275.6K – $367.5K
NOI $22,048 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Explore this area
Business Placement
Demographics for 33603, FL
19,070
Population
9,592
Households
2
Avg Household Size
38
Median Age
39%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,651
Density / Sq Mi
$64,632
Median Household Income
$43,136
Median Earnings
$1,320
Median Rent
$344,100
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 - Updated two-residence property with independent access, dedicated parking, and a fenced outdoor area for the secondary living space.
Where is this duplex located?
The property is located at 3913 N LYNN AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Private attached guest apartment with full kitchen, bathroom, washer and dryer; Independent apartment access, designated parking, and dedicated AC mini‑split system; Three‑bedroom main residence with renovated bathroom and open living‑dining layout
