Coastal Quadplex With
For Sale
Under Contract
$875,000
411 PLEASANT Street, Clearwater, FL 33755
Residential Income, CLEARWATER, FL
Property Size3,134 SF
Lot Size0.13 Acres
Price / SF$279.20
Days on Market112
Property Features for 411 PLEASANT Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
25
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 5, Bedroom 15, Bathroom 2, Bedroom 14, Bedroom 21, Bedroom 24, Bedroom 18, Bedroom 16, Bedroom 9, Bedroom 23, Bedroom 13, Bedroom 12, Bedroom 8, Bedroom 22, Bathroom 5, Bedroom 11, Bedroom 25, Bedroom 17, Bedroom 19, Bedroom 2, Bedroom 3, Bedroom 7, Bedroom 20, Bathroom 4, Bathroom 1, Bedroom 10
Pets allowed
Yes
Pool private
1
Interior features
Ceiling Fans(s)
Exterior features
Courtyard
Appliances
Dryer, Washer
Subdivision
NORTH SHORE PARK
Directions
Take US19 towards Clearwater Beach exit...follow GPS...property is on pleasant st left side
Standard status
Active Under Contract
APN
04-29-15-61488-006-0010
Size
3,134 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH SHORE PARK BLK 6, LOT 1
Tax Annual Amount
5213
Legal Description
NORTH SHORE PARK BLK 6, LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Water source
Public
Amenities
community pool
Building Details
Year built
1951
Floors in Building
1
Flooring type
Laminate, Vinyl
Building materials
Block, Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(727) 845-4321
Listed By:
Michael Constantine · License #3278539
(727) 415-0922
Added: Jun 3
Changed: Sep 12
Last Checked: Sep 22 at 8:06PM
MLS# W7886599
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.
This 3,134-square-foot quadplex was built in 1951 and includes multiple apartment layouts, with three one-bedroom, one-bath residences, one two-bedroom, one-bath residence, and an efficiency apartment. The property has a private pool, courtyard, ceiling fans, electric central heating, vinyl and laminate flooring, and washer and dryer appliances. Block and stucco construction, a shingle roof, public water, and public sewer complete the core improvements.
The property is located in Clearwater, approximately 5–10 minutes from Clearwater Beach. Shopping, dining, entertainment, and tourist attractions are also identified nearby. The parcel encompasses 0.13 acres and is served by public utilities.
The property is located in Clearwater, approximately 5–10 minutes from Clearwater Beach. Shopping, dining, entertainment, and tourist attractions are also identified nearby. The parcel encompasses 0.13 acres and is served by public utilities.
Key Highlights
- 3,134‑square‑foot quadplex on a 0.13‑acre parcel
- Five‑apartment configuration with three 1‑bedroom units, one 2‑bedroom unit, and one efficiency apartment
- Private pool and courtyard
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
$43,227
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
4.94%
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%
$864,540
$864.5K
Cap Rate 7%
$617,529
$617.5K
Cap Rate 9%
$480,300
$480.3K
Market Conditions
NOI Build-Up for 3,134 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
$65.8K $21.00/SF
− Vacancy
−$4.1K −$1.30/SF
EGI
$61.8K $19.70/SF
− OpEx
−$18.5K −$5.91/SF
NOI
$43.2K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$864,540
Cap Rate 7%
$617,529
Cap Rate 9%
$480,300
Alternative Uses
Best Use
Multifamily LT 5
$617.5K
$540.3K – $720.5K
NOI $43,227 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$552.6K
$483.5K – $644.7K
NOI $38,680 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$879.3K
$769.4K – $1.03M
NOI $61,549 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Private pool, courtyard space, and in-unit laundry support resident convenience near Clearwater Beach.
Where is this quadplex located?
The property is located at 411 PLEASANT Street Clearwater, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 3,134‑square‑foot quadplex on a 0.13‑acre parcel; Five‑apartment configuration with three 1‑bedroom units, one 2‑bedroom unit, and one efficiency apartment; Private pool and courtyard
