Three-Unit Income
For Sale
$457,000
5910 31ST Street N, St Petersburg, FL 33714
Residential Income, ST PETERSBURG, FL
Property Size1,666 SF
Lot Size0.25 Acres
Price / SF$274.31
Days on Market283
Property Features for 5910 31ST Street N
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-4
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3
Interior features
Primary Bedroom Main Floor
Exterior features
Garden
Directions
At the corner of 58th Ave N and 31st Ave N, turn right and drive .1 miles.
Subdivision
33714 - St Pete
Standard status
Active
APN
35-30-16-00000-320-1800
Size
1,666 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 50FT OF S 462FT OF E 247.5FT OF NW 1/4 OF SW 1/4 LESS E 30FT
Tax Annual Amount
5483
Legal Description
N 50FT OF S 462FT OF E 247.5FT OF NW 1/4 OF SW 1/4 LESS E 30FT
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Number of units
3
Building materials
Stucco
Roof type
Built-Up, Shingle
Listing Agency:
RICHARD PETERS REALTY LLC
(352) 448-9712
Listed By:
Alexander Izikson · License #3590476
(781) 996-9676
Added: Dec 12, 2025
Changed: Sep 12
Last Checked: Sep 21 at 8:06AM
MLS# TB8456013
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 1,666-square-foot triplex, built in 1950, contains one two-bedroom, two-bath unit and two one-bedroom, one-bath units. The property sits on a 0.25-acre lot and includes stucco construction, central air, electric heating, public water, and public sewer. Recent cosmetic repairs were completed, and the units are described as well maintained.
Two units are occupied under leases, while the third is rented month to month. The elevated lot is identified as outside the flood zone, with space available for parking. The property is on a low-traffic street near shopping, dining, schools, entertainment, major highways, commuter routes, and Sawgrass Lake Park. Downtown St. Petersburg is approximately 10 minutes away.
Two units are occupied under leases, while the third is rented month to month. The elevated lot is identified as outside the flood zone, with space available for parking. The property is on a low-traffic street near shopping, dining, schools, entertainment, major highways, commuter routes, and Sawgrass Lake Park. Downtown St. Petersburg is approximately 10 minutes away.
Key Highlights
- Three‑unit configuration: one 2‑bed/2‑bath unit and two 1‑bed/1‑bath units
- 1,666‑square‑foot triplex on a 0.25‑acre lot
- Two units leased; one unit occupied month to month
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
$19,446
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
4.26%
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%
$388,920
$388.9K
Cap Rate 7%
$277,800
$277.8K
Cap Rate 9%
$216,067
$216.1K
Market Conditions
NOI Build-Up for 1,666 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
$29.8K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.8K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.4K $11.67/SF
Area
Pinellas County, 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 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%
$388,920
Cap Rate 7%
$277,800
Cap Rate 9%
$216,067
Alternative Uses
Best Use
Multifamily LT 5
$277.8K
$243.1K – $324.1K
NOI $19,446 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$218.9K
$191.5K – $255.4K
NOI $15,322 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$433.3K
$379.2K – $505.6K
NOI $30,334 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 33714, FL
19,905
Population
9,889
Households
2
Avg Household Size
44
Median Age
20%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
5,380
Density / Sq Mi
$47,221
Median Household Income
$36,207
Median Earnings
$1,270
Median Rent
$177,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R-4-zoned triplex with two leased units and one month-to-month tenancy.
Where is this triplex located?
The property is located at 5910 31ST Street N St Petersburg, FL.
What is the asking price?
The asking price for this property is $457,000.
What are key features of this property?
This property features: Three‑unit configuration: one 2‑bed/2‑bath unit and two 1‑bed/1‑bath units; 1,666‑square‑foot triplex on a 0.25‑acre lot; Two units leased; one unit occupied month to month
