Remodeled Duplex with Detached
New
For Sale
$549,998
4533 W FERN STREET, Tampa, FL 33614
Two updated residences occupy one property with no HOA and separate living arrangements.
Property Size1,717 SF
Price / SF$320.32
Days on Market6
Property Features for 4533 W FERN STREET
General Information
Standard status
Active
Size
1,717 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
covered back patio
0.15 acres, Dimensions: 65x101, Sidewalk, Paved
Membrane, Shingle
Public Sewer
Additional parcels description:, Parcel Number: U-32-28-18-17L-000009-00021.0, Public Survey Range: 18, Public Survey Section: 32, Annual Amount: $1,537.78, Tax Block: 9, Tax Book Number: 36-24, Legal Description: WEST PARK ESTATES UNIT NO 4 LOT 21 BLOCK 9, Lot: 21, Year: 2025, Zoning: RSC-9
Luxury Vinyl
Central Air
Central
Electric Dryer Hookup, Inside, Laundry Room, Washer Hookup
Listing ID: MFRTB8537058, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-07, 2 days on market, Special Conditions: None
ENERGY STAR Qualified Windows
Built in 1963, Living area: 1717, Living area units: Square Feet, Levels: One, Construction Materials: Block
Subdivision: WEST PARK ESTATES UNIT 4, MLS Area (Major): 33614 - Tampa, County/Parish: Hillsborough
Completed
Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected, Water Source: Public
Slab
Close Of Escrow
Road Surface: Asphalt
Patio/Porch Features: Rear Porch, Sidewalk
Kitchen/Family Room Combo, L Dining, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Thermostat
Microwave, Range, Refrigerator
Building Details
Year Built
1963
Buildings
2
Construction
block
Listing Agency:
EASY HOME SALES
(727) 201-8964
Listed By:
Jason Henning · License #3063311
Source:
Miharaandassociates
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 6:24AM
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 EASY HOME SALES
Investment Insights
Based on property information with market context.
This duplex property includes two separate remodeled block homes on one parcel. The primary residence measures approximately 1,200 square feet with 3 bedrooms, 1.5 bathrooms, a primary en-suite bathroom, bonus family room, and indoor utility room. The detached second residence offers approximately 522 square feet with 2 bedrooms, 1 bathroom, a kitchen, living room, and private entrance.
Renovations across both homes include new kitchens, waterproof luxury vinyl plank flooring, tiled showers, interior doors, trim, baseboards, textured ceilings and walls, and interior and exterior paint. Exterior features include ample parking and a large covered rear patio. The property is one block from a neighborhood park with walking trails, outdoor fitness equipment, baseball fields, and green space. No HOA restrictions allow boats, work vehicles, and recreational equipment on the property.
Renovations across both homes include new kitchens, waterproof luxury vinyl plank flooring, tiled showers, interior doors, trim, baseboards, textured ceilings and walls, and interior and exterior paint. Exterior features include ample parking and a large covered rear patio. The property is one block from a neighborhood park with walking trails, outdoor fitness equipment, baseball fields, and green space. No HOA restrictions allow boats, work vehicles, and recreational equipment on the property.
Key Highlights
- Two remodeled homes on one property, including a detached second residence
- Main home: approximately 1,200 square feet with 3 bedrooms and 1.5 bathrooms
- Detached home: approximately 522 square feet with 2 bedrooms and 1 bathroom
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
$20,042
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
3.64%
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%
$400,840
$400.8K
Cap Rate 7%
$286,314
$286.3K
Cap Rate 9%
$222,689
$222.7K
Market Conditions
NOI Build-Up for 1,717 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
$30.7K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.6K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.0K $11.67/SF
Area
ZIP 33614
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%
$400,840
Cap Rate 7%
$286,314
Cap Rate 9%
$222,689
Alternative Uses
Best Use
Multifamily LT 5
$286.3K
$250.5K – $334.0K
NOI $20,042 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$225.6K
$197.4K – $263.2K
NOI $15,791 @ 7.0% cap · market cap 2.87%
Theoretical Best
—
—
same as Best Use
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
908
Businesses Nearby
Explore this area
Business Placement
Demographics for 33614, FL
47,695
Population
19,660
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
4,917
Density / Sq Mi
$51,143
Median Household Income
$31,350
Median Earnings
$1,399
Median Rent
$295,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences occupy one property with no HOA and separate living arrangements.
Where is this duplex located?
The property is located at 4533 W FERN STREET Tampa, FL.
What is the asking price?
The asking price for this property is $549,998.
What are key features of this property?
This property features: Two remodeled homes on one property, including a detached second residence; Main home: approximately 1,200 square feet with 3 bedrooms and 1.5 bathrooms; Detached home: approximately 522 square feet with 2 bedrooms and 1 bathroom
