Detached Duplex With Carriage
New
For Sale
$390,000
405 E CAYUGA ST, Tampa, FL 33603
Two private residences provide separate utilities, laundry, parking, and flexible rental or owner-occupant use.
Property Size1,338 SF
Days on Market7
Property Features for 405 E CAYUGA ST
General Information
Standard status
Active
Size
1,338 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,015
Building Details
Building Size
1,338 SF
Year Built
1938
Buildings
2
Listing Agency:
LOMBARDO HEIGHTS LLC
(813) 995-5558
Listed By:
Jackie De La Rosa · License #3303867
Source:
Judibeck
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 12:56PM
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 LOMBARDO HEIGHTS LLC
Investment Insights
Based on property information with market context.
This duplex includes two fully detached residences on one property, with a privacy fence separating the homes. The front residence offers 1 bedroom, 1 bathroom, and 658 square feet, along with a cedar shingle exterior, updated windows, fresh paint, shaker cabinetry, granite countertops, laminate flooring, a walk-in closet, private laundry, and kitchen appliances. The rear carriage house contains 2 bedrooms, 1 bathroom, and 680 square feet, with separate alley access, off-street parking, and storage beneath the structure.
Each residence has its own water, sewer, and electric meter, central heating and air conditioning, and private laundry. Roofs and water heaters were replaced in 2018, HVAC systems were installed in 2019 and 2020, and termite tenting was completed in 2018. The property is located at 405 E Cayuga St in Tampa’s Old Seminole Heights, near restaurants, breweries, coffee shops, parks, Downtown Tampa, Armature Works, and the Tampa Riverwalk.
Each residence has its own water, sewer, and electric meter, central heating and air conditioning, and private laundry. Roofs and water heaters were replaced in 2018, HVAC systems were installed in 2019 and 2020, and termite tenting was completed in 2018. The property is located at 405 E Cayuga St in Tampa’s Old Seminole Heights, near restaurants, breweries, coffee shops, parks, Downtown Tampa, Armature Works, and the Tampa Riverwalk.
Key Highlights
- Two detached residences: a 658‑square‑foot front home and a 680‑square‑foot rear carriage house
- Front home includes 1 bedroom, 1 bathroom, appliances, granite countertops, and private laundry
- Rear carriage house offers 2 bedrooms, 1 bathroom, alley access, off‑street parking, and under‑building storage
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
$15,618
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
4.00%
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%
$312,360
$312.4K
Cap Rate 7%
$223,114
$223.1K
Cap Rate 9%
$173,533
$173.5K
Market Conditions
NOI Build-Up for 1,338 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
$23.9K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$22.3K $16.67/SF
− OpEx
−$6.7K −$5.00/SF
NOI
$15.6K $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%
$312,360
Cap Rate 7%
$223,114
Cap Rate 9%
$173,533
Alternative Uses
Best Use
Multifamily LT 5
$223.1K
$195.2K – $260.3K
NOI $15,618 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$207.4K
$181.5K – $242.0K
NOI $14,521 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$311.7K
$272.8K – $363.7K
NOI $21,820 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,197
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 private residences provide separate utilities, laundry, parking, and flexible rental or owner-occupant use.
Where is this duplex located?
The property is located at 405 E CAYUGA ST Tampa, FL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two detached residences: a 658‑square‑foot front home and a 680‑square‑foot rear carriage house; Front home includes 1 bedroom, 1 bathroom, appliances, granite countertops, and private laundry; Rear carriage house offers 2 bedrooms, 1 bathroom, alley access, off‑street parking, and under‑building storage
