Duplex with Fenced
For Sale
$389,900
5215 31ST STREET Court E, Bradenton, FL 34203
Residential Income, BRADENTON, FL
Property Size1,440 SF
Lot Size0.22 Acres
Price / SF$270.76
Days on Market27
Property Features for 5215 31ST STREET Court E
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
PDMU
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2
Parking features
Covered
Exterior features
Fence
Fencing
Fenced
Appliances
Range, Refrigerator
Subdivision
CENTRAL GARDENS
Elementary school
Tara Elementary
Middle school
Martha B. King Middle
High school
Braden River High
Directions
From I-75 go west on SR70 four miles turn Right on 31st St Ct E to your property on your right side
Standard status
Active
APN
1686740000
Size
1,440 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 21 CENTRAL GARDENS PI#16867.4000/0
Tax Annual Amount
2979
Legal Description
LOT 21 CENTRAL GARDENS PI#16867.4000/0
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
SRQ INTERNATIONAL REALTY LLC
(941) 366-0106
Listed By:
Jaime Orjuela · License #3210113
(941) 284-5250
Added: Sep 6
Changed: Oct 2
Last Checked: Oct 2 at 9:06PM
MLS# A4705256
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 1972 block duplex contains two 2-bedroom, 1-bathroom units with 1,440 square feet of combined building area. Interior features include ceramic tile flooring, ranges, and refrigerators; central heating and air conditioning serve the building. Covered parking and a fenced yard are also present.
The property occupies 0.22 acres and is zoned PDMU. Water is supplied publicly, and the site uses a septic tank for sewer service.
The property occupies 0.22 acres and is zoned PDMU. Water is supplied publicly, and the site uses a septic tank for sewer service.
Key Highlights
- Two units, each configured with 2 bedrooms and 1 bathroom
- 1,440 square feet of building area on a 0.22‑acre lot
- Built in 1972 with block construction
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
$18,917
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
4.85%
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%
$378,340
$378.3K
Cap Rate 7%
$270,243
$270.2K
Cap Rate 9%
$210,189
$210.2K
Market Conditions
NOI Build-Up for 1,440 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
$28.5K $19.80/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$27.0K $18.77/SF
− OpEx
−$8.1K −$5.63/SF
NOI
$18.9K $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%
$378,340
Cap Rate 7%
$270,243
Cap Rate 9%
$210,189
Alternative Uses
Best Use
Multifamily LT 5
$270.2K
$236.5K – $315.3K
NOI $18,917 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$248.9K
$217.8K – $290.4K
NOI $17,424 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$423.5K
$370.5K – $494.0K
NOI $29,642 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate two-bedroom, one-bathroom residences share a single property.
Where is this duplex located?
The property is located at 5215 31ST STREET Court E Bradenton, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Two units, each configured with 2 bedrooms and 1 bathroom; 1,440 square feet of building area on a 0.22‑acre lot; Built in 1972 with block construction
