Updated Two-Unit
For Sale
$449,000
601 N OSCEOLA AVE, Clearwater, FL 33755
Two separately accessed residences share an onsite laundry room and provide a flexible duplex configuration.
Property Size1,847 SF
Days on Market162
Property Features for 601 N OSCEOLA AVE
General Information
Standard status
Active
Size
1,847 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,815
Amenities
shared laundry room
Building Details
Building Size
1,847 SF
Year Built
1925
Listing Agency:
DHM REAL ESTATE GROUP LLC
(727) 793-7242
Listed By:
Nancy Burris
Source:
Judibeck
Added: Mar 3
Changed: Aug 12
Last Checked: Aug 12 at 2:56PM
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 DHM REAL ESTATE GROUP LLC
Investment Insights
Based on property information with market context.
This Clearwater duplex contains two distinct residences arranged around a central foyer. The unit mix includes a 2BR/2BA residence and a 1BR/1BA residence, with each unit also offering its own secondary entrance. A shared laundry room serves the property. Improvements were completed in 2017, including the roof, while the building dates to 1925.
Located at 601 N Osceola Ave, the property is near downtown Clearwater events and dining. The Pinellas Trail is within steps of the property, and Clearwater Beach is reachable by a short bicycle ride. A long driveway provides off-street parking, with additional street parking available.
Located at 601 N Osceola Ave, the property is near downtown Clearwater events and dining. The Pinellas Trail is within steps of the property, and Clearwater Beach is reachable by a short bicycle ride. A long driveway provides off-street parking, with additional street parking available.
Key Highlights
- Two‑unit duplex with a 2BR/2BA and a 1BR/1BA residence
- 2017 updates included the roof
- Each residence has a secondary private entrance
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
$25,476
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
5.67%
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%
$509,520
$509.5K
Cap Rate 7%
$363,943
$363.9K
Cap Rate 9%
$283,067
$283.1K
Market Conditions
NOI Build-Up for 1,847 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
$38.8K $21.00/SF
− Vacancy
−$2.4K −$1.30/SF
EGI
$36.4K $19.70/SF
− OpEx
−$10.9K −$5.91/SF
NOI
$25.5K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$509,520
Cap Rate 7%
$363,943
Cap Rate 9%
$283,067
Alternative Uses
Best Use
Multifamily LT 5
$363.9K
$318.5K – $424.6K
NOI $25,476 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$325.7K
$285.0K – $379.9K
NOI $22,796 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$518.2K
$453.4K – $604.6K
NOI $36,273 @ 7.0% cap · market cap 8.08%
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
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 33755, FL
28,360
Population
11,872
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,156
Density / Sq Mi
$59,613
Median Household Income
$36,206
Median Earnings
$1,340
Median Rent
$300,200
Median Home Value
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 separately accessed residences share an onsite laundry room and provide a flexible duplex configuration.
Where is this duplex located?
The property is located at 601 N OSCEOLA AVE Clearwater, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2BR/2BA and a 1BR/1BA residence; 2017 updates included the roof; Each residence has a secondary private entrance
