Renovated Duplex with Screened
New
For Sale
$464,000
4805 21ST STREET W, Bradenton, FL 34207
Two residential units offer a practical income-producing configuration with updated interiors and private outdoor areas.
Property Size1,696 SF
Price / SF$273.58
Days on Market7
Property Features for 4805 21ST STREET W
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
screened porch
Building Details
Year Built
1967
Listing Agency:
PAPPAS REALTY & MANAGEMENT CO
(727) 447-6852
Listed By:
Vangie Pappas · License #3138078
Source:
Endlesssummerrealty
Added: Aug 10
Changed: Aug 16
Last Checked: Aug 16 at 6:09AM
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 PAPPAS REALTY & MANAGEMENT CO
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each with 3 bedrooms and 1 bath, for a combined 1,696 square feet. Both units were renovated in 2024, and each includes a separate screened porch. The property was built in 1967 and is located in Bradenton, Florida.
The two-unit layout provides distinct living spaces within a single multifamily property, with the bedroom-and-bathroom configuration repeated in each unit.
The two-unit layout provides distinct living spaces within a single multifamily property, with the bedroom-and-bathroom configuration repeated in each unit.
Key Highlights
- Two‑unit duplex configuration
- Each unit includes 3 bedrooms and 1 bath
- Both units renovated in 2024
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
$22,280
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
4.80%
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%
$445,600
$445.6K
Cap Rate 7%
$318,286
$318.3K
Cap Rate 9%
$247,556
$247.6K
Market Conditions
NOI Build-Up for 1,696 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
$33.6K $19.80/SF
− Vacancy
−$1.8K −$1.03/SF
EGI
$31.8K $18.77/SF
− OpEx
−$9.5K −$5.63/SF
NOI
$22.3K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /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%
$445,600
Cap Rate 7%
$318,286
Cap Rate 9%
$247,556
Alternative Uses
Best Use
Multifamily LT 5
$318.3K
$278.5K – $371.3K
NOI $22,280 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$293.2K
$256.5K – $342.0K
NOI $20,521 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$498.7K
$436.4K – $581.9K
NOI $34,912 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 34207, FL
35,281
Population
19,411
Households
1.8
Avg Household Size
45
Median Age
16%
College-Educated
84%
High-School Grad
6.2 sq mi
ZIP Area
5,690
Density / Sq Mi
$49,162
Median Household Income
$33,035
Median Earnings
$1,270
Median Rent
$122,100
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 residential units offer a practical income-producing configuration with updated interiors and private outdoor areas.
Where is this duplex located?
The property is located at 4805 21ST STREET W Bradenton, FL.
What is the asking price?
The asking price for this property is $464,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Each unit includes 3 bedrooms and 1 bath; Both units renovated in 2024
