Renovated Duplex with Separate
For Sale
$590,000
506 N MACDILL AVE, Tampa, FL 33609
Two-home duplex with individual laundry facilities, flexible occupancy, and updated cooling systems.
Property Size1,698 SF
Days on Market55
Property Features for 506 N MACDILL AVE
General Information
Standard status
Active
Size
1,698 SF
Property subtype
Duplex
Site & Location
Neighborhood
Oakford Park Neighborhood Association, Inc.
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,702
Building Details
Building Size
1,698 SF
Year Built
1950
Buildings
2
Tenancy
Single
Listing Agency:
RE/MAX ALLIANCE GROUP
Listed By:
Yingyi Xu · License #3218790
(813) 579-7379
Source:
Judibeck
Added: Sep 2
Changed: Oct 25
Last Checked: Oct 24 at 10:34PM
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 RE/MAX ALLIANCE GROUP
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Investment Insights
Based on property information with market context.
Built in 1950, this duplex is configured as two separate residences. The front home offers three bedrooms and two bathrooms, while the rear home provides one bedroom and one bathroom. The front residence was renovated this year and includes central air conditioning. Improvements to the rear home were completed two years ago, including a new roof and split-system air conditioning.
Each residence has its own washer and dryer, while the properties share electric and water meters. The front home is currently vacant, and the rear home is occupied by a tenant. The residences may be used by one household or operated separately. The property is located on N MacDill Ave in Tampa, Florida, near Michelle Elementary, Wilson Middle, and Plant High School.
Each residence has its own washer and dryer, while the properties share electric and water meters. The front home is currently vacant, and the rear home is occupied by a tenant. The residences may be used by one household or operated separately. The property is located on N MacDill Ave in Tampa, Florida, near Michelle Elementary, Wilson Middle, and Plant High School.
Key Highlights
- Two separate residences: a 3‑bedroom, 2‑bath front home and a 1‑bedroom, 1‑bath rear home
- Front residence renovated this year with central AC
- Rear residence renovated 2 years ago with a new roof and split ACs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,820
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,400
$396.4K
Cap Rate 7%
$283,143
$283.1K
Cap Rate 9%
$220,222
$220.2K
Market Conditions
NOI Build-Up for 1,698 SF
Gross rent
$30.4K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$28.3K $16.67/SF
− OpEx
−$8.5K −$5.00/SF
NOI
$19.8K $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 Rate 5%
$396,400
Cap Rate 7%
$283,143
Cap Rate 9%
$220,222
Alternative Uses
Best Use
Multifamily LT 5
$283.1K
$247.8K – $330.3K
NOI $19,820 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$263.3K
$230.4K – $307.1K
NOI $18,428 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$395.6K
$346.1K – $461.5K
NOI $27,691 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,403
Businesses Nearby
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Business Placement
Demographics for 33609, FL
17,902
Population
9,169
Households
2
Avg Household Size
38
Median Age
63%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
4,476
Density / Sq Mi
$105,083
Median Household Income
$66,567
Median Earnings
$1,818
Median Rent
$526,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-home duplex with individual laundry facilities, flexible occupancy, and updated cooling systems.
Where is this duplex located?
The property is located at 506 N MACDILL AVE Tampa, FL.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two separate residences: a 3‑bedroom, 2‑bath front home and a 1‑bedroom, 1‑bath rear home; Front residence renovated this year with central AC; Rear residence renovated 2 years ago with a new roof and split ACs
