Detached Duplex with Carriage
For Sale
$320,000
405 E CAYUGA Street, Tampa, FL 33603
Residential Income, TAMPA, FL
Property Size1,338 SF
Lot Size0.13 Acres
Price / SF$239.16
Days on Market59
Property Features for 405 E CAYUGA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SH-RS
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 3, Family Room, Bedroom 2, Bathroom 2
Interior features
Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Open Floorplan, Walk-In Closet(s)
Exterior features
Storage
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
LESLEYS
Elementary school
Broward-HB
Middle school
Memorial-HB
High school
Hillsborough-HB
Directions
Central Avenue to Cayuga,-West on Cayuga, 1/2 block to property on left
Standard status
Active
APN
A-01-29-18-4GT-000026-00003.0
Size
1,338 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LESLEY'S PLAT W 41 FT OF LOT 3 BLOCK 26 AND N 20 FT OF CLOSED ST ABUTTING THEREON
Tax Annual Amount
7015
Legal Description
LESLEY'S PLAT W 41 FT OF LOT 3 BLOCK 26 AND N 20 FT OF CLOSED ST ABUTTING THEREON
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private laundry
off-street parking
privacy fence
storage
Building Details
Year built
1938
Floors in Building
2
Flooring type
Laminate
Building materials
Cedar, Frame
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
LOMBARDO HEIGHTS LLC
(813) 335-2626
Listed By:
Jackie De La Rosa · License #3303867
(813) 995-5558
Added: Aug 5
Changed: Oct 2
Last Checked: Oct 2 at 4:06AM
MLS# TB8536201
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 1938, this duplex comprises two detached residences on a 0.13-acre parcel. The front home contains 1 bedroom and 1 bathroom across 658 square feet; the rear carriage house has 2 bedrooms and 1 bathroom in 680 square feet. Together, the buildings provide 1,338 square feet of living area. Both residences have central heating and air conditioning, private laundry, and separate water, sewer, and electric meters. The front home includes a walk-in closet, laminate flooring, and a kitchen with a refrigerator, range, microwave, and dishwasher. Storage is located beneath the rear residence.
The carriage house has alley access and off-street parking. A fence separates the two homes. The property is in Old Seminole Heights, with restaurants, breweries, coffee shops, parks, Downtown Tampa, Armature Works, and the Tampa Riverwalk identified as nearby destinations. Zoning is SH-RS.
The carriage house has alley access and off-street parking. A fence separates the two homes. The property is in Old Seminole Heights, with restaurants, breweries, coffee shops, parks, Downtown Tampa, Armature Works, and the Tampa Riverwalk identified as nearby destinations. Zoning is SH-RS.
Key Highlights
- Two detached homes: a 658‑square‑foot, 1‑bedroom/1‑bath front residence and a 680‑square‑foot, 2‑bedroom/1‑bath carriage house
- 1,338 square feet of living area on a 0.13‑acre parcel
- Separate water, sewer, and electric meters for each residence
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
4.88%
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 4.88%
Second Best
Apartment 5plus
$207.4K
$181.5K – $242.0K
NOI $14,521 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$311.7K
$272.8K – $363.7K
NOI $21,820 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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 - Two separate homes offer independent living spaces, private laundry, and individually metered utilities.
Where is this duplex located?
The property is located at 405 E CAYUGA Street Tampa, FL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two detached homes: a 658‑square‑foot, 1‑bedroom/1‑bath front residence and a 680‑square‑foot, 2‑bedroom/1‑bath carriage house; 1,338 square feet of living area on a 0.13‑acre parcel; Separate water, sewer, and electric meters for each residence
