Duplex with Vaulted
For Sale
$736,900
418 Narvaezi St, Venice, FL 34285
Two individually configured units offer flexible occupancy, rental, or personal-use arrangements near Venice Island amenities.
Property Size2,199 SF
Price / SF$335.11
Days on Market31
Property Features for 418 Narvaezi St
General Information
Standard status
Active
Size
2,199 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
patio
air conditioning
Building Details
Year Built
1990
Buildings
1
Listing Agency:
HOMECOIN.COM
(888) 400-2513
Listed By:
Jonathan Minerick · License #B.1003079.CORP
Source:
Susannelosso
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 29 at 11:02AM
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 HOMECOIN.COM
Investment Insights
Based on property information with market context.
Located at 418 Narvaezi St in Venice, this 1990-built duplex presents two matching units, each with 2 bedrooms, 2 baths, a vaulted living-room ceiling, and an upstairs loft. Window blinds are installed throughout, while new AC units were added in 2024 and 2025. Each side includes a front paver patio and a rear concrete patio.
The property is on Venice Island, five blocks from Venice Beach and three blocks from historic downtown Venice, sports courts, and Centennial Park. The Venice Theatre is four blocks away, with Caspersen Beach, Sharkey’s, and the Venice Pier also nearby. The property has no HOA, deed, or lease restrictions. Supported use possibilities include year-round vacation rentals, occupying one unit while renting the other, or combining the units into a larger island residence. The rear area can accommodate a 7 x 14 foot lap pool.
The property is on Venice Island, five blocks from Venice Beach and three blocks from historic downtown Venice, sports courts, and Centennial Park. The Venice Theatre is four blocks away, with Caspersen Beach, Sharkey’s, and the Venice Pier also nearby. The property has no HOA, deed, or lease restrictions. Supported use possibilities include year-round vacation rentals, occupying one unit while renting the other, or combining the units into a larger island residence. The rear area can accommodate a 7 x 14 foot lap pool.
Key Highlights
- Duplex with two 2‑bedroom, 2‑bath units, each featuring a vaulted living room and upstairs loft
- New AC units installed in 2024 and 2025
- Front paver patios and rear concrete patios serve both units
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
$22,473
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
3.05%
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%
$449,460
$449.5K
Cap Rate 7%
$321,043
$321.0K
Cap Rate 9%
$249,700
$249.7K
Market Conditions
NOI Build-Up for 2,199 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
$35.6K $16.20/SF
− Vacancy
−$3.5K −$1.60/SF
EGI
$32.1K $14.60/SF
− OpEx
−$9.6K −$4.38/SF
NOI
$22.5K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /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%
$449,460
Cap Rate 7%
$321,043
Cap Rate 9%
$249,700
Alternative Uses
Best Use
Multifamily LT 5
$321.0K
$280.9K – $374.6K
NOI $22,473 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$286.1K
$250.3K – $333.8K
NOI $20,026 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$625.0K
$546.9K – $729.1K
NOI $43,748 @ 7.0% cap · market cap 5.94%
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
1,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 34285, FL
18,971
Population
16,081
Households
1.2
Avg Household Size
70
Median Age
40%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
2,286
Density / Sq Mi
$67,712
Median Household Income
$37,959
Median Earnings
$1,485
Median Rent
$295,400
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 individually configured units offer flexible occupancy, rental, or personal-use arrangements near Venice Island amenities.
Where is this duplex located?
The property is located at 418 Narvaezi St Venice, FL.
What is the asking price?
The asking price for this property is $736,900.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 2‑bath units, each featuring a vaulted living room and upstairs loft; New AC units installed in 2024 and 2025; Front paver patios and rear concrete patios serve both units
