Renovated Duplex with Detached
For Sale
$585,000
4024 N SEMINOLE AVENUE, Tampa, FL 33603
Two separate residences offer flexible living arrangements on a corner lot near restaurants, parks, shops, and neighborhood entertainment.
Property Size1,689 SF
Price / SF$346.36
Days on Market544
Property Features for 4024 N SEMINOLE AVENUE
General Information
Standard status
Active
Size
1,689 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,708
Amenities
patio
shared yard
Building Details
Year Built
1948
Buildings
2
Construction
mid-century
Listing Agency:
HOMEGROWN REALTY LLC
(813) 484-2501
Listed By:
Anthony Caracappa · License #3468018
(813) 484-2501
Source:
Exitrealty
Added: Mar 6, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:21PM
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 HOMEGROWN REALTY LLC
Investment Insights
Based on property information with market context.
This 1,689-square-foot duplex pairs a renovated three-bedroom, two-bathroom primary residence with a detached one-bedroom, one-bathroom ADU. The improvements include updated roofs, flooring, kitchens, bathrooms, appliances, landscaping, walls, and interior and exterior paint. Luxury vinyl plank flooring and abundant natural light shape the main home, while the third bedroom can also function as an office. The detached unit has its own driveway, and the shared yard includes a back patio and mango tree.
The property is located at 4024 N Seminole Avenue in Tampa’s Seminole Heights area, within walking distance of restaurants, bars, breweries, and shops in South Seminole Heights. Riverfront parks are nearby, including Rivercrest Park with more than 600 feet of riverfront access, nearly 11 acres of green space, trails, fishing docks, and a canoe launch. The lot has no flood zone designation, and major highways provide access throughout Tampa Bay.
The property is located at 4024 N Seminole Avenue in Tampa’s Seminole Heights area, within walking distance of restaurants, bars, breweries, and shops in South Seminole Heights. Riverfront parks are nearby, including Rivercrest Park with more than 600 feet of riverfront access, nearly 11 acres of green space, trails, fishing docks, and a canoe launch. The lot has no flood zone designation, and major highways provide access throughout Tampa Bay.
Key Highlights
- 1,689‑square‑foot duplex with a 3‑bedroom, 2‑bathroom main home and detached 1‑bedroom, 1‑bathroom ADU
- Fully renovated with updated roofs, kitchens, bathrooms, flooring, appliances, paint, walls, and landscaping
- Detached ADU includes its own driveway
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
$19,715
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
3.37%
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%
$394,300
$394.3K
Cap Rate 7%
$281,643
$281.6K
Cap Rate 9%
$219,056
$219.1K
Market Conditions
NOI Build-Up for 1,689 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
$30.2K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$28.2K $16.67/SF
− OpEx
−$8.4K −$5.00/SF
NOI
$19.7K $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%
$394,300
Cap Rate 7%
$281,643
Cap Rate 9%
$219,056
Alternative Uses
Best Use
Multifamily LT 5
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$261.9K
$229.1K – $305.5K
NOI $18,330 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$393.5K
$344.3K – $459.1K
NOI $27,544 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
947
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 - Two separate residences offer flexible living arrangements on a corner lot near restaurants, parks, shops, and neighborhood entertainment.
Where is this duplex located?
The property is located at 4024 N SEMINOLE AVENUE Tampa, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 1,689‑square‑foot duplex with a 3‑bedroom, 2‑bathroom main home and detached 1‑bedroom, 1‑bathroom ADU; Fully renovated with updated roofs, kitchens, bathrooms, flooring, appliances, paint, walls, and landscaping; Detached ADU includes its own driveway
