Two-Unit Duplex with Fenced
For Sale
$375,000
Pending
6047 & 6049 32ND N STREET, St Petersburg, FL 33714
Two residential units provide matching two-bedroom, two-bath layouts with in-unit laundry hookups and front parking.
Property Size1,682 SF
Days on Market471
Property Features for 6047 & 6049 32ND N STREET
General Information
Standard status
Pending
Size
1,682 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,469
Amenities
in-unit laundry hookups
fully fenced backyard
Building Details
Year Built
1987
Listing Agency:
COLDWELL BANKER REALTY
(727) 324-3077
Listed By:
Brad Bess · License #3232141
(727) 324-3077
Source:
Exitrealty
Added: May 19, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:47PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This 1,682-square-foot duplex, built in 1987, contains two residential units with matching layouts. Each unit includes two bedrooms, two full bathrooms, and hookups for in-unit laundry. The property also offers a fully fenced backyard and front parking for residents or visitors.
Located at 6047 & 6049 32ND N STREET in St. Petersburg, the duplex is outside a flood zone and near shopping, dining, medical facilities, parks, schools, and public transportation. A nearby bus line adds another transportation option. The two-unit configuration and repeated floor plans provide a straightforward residential income property format.
Located at 6047 & 6049 32ND N STREET in St. Petersburg, the duplex is outside a flood zone and near shopping, dining, medical facilities, parks, schools, and public transportation. A nearby bus line adds another transportation option. The two-unit configuration and repeated floor plans provide a straightforward residential income property format.
Key Highlights
- Two residential units, each with 2 bedrooms and 2 full bathrooms
- 1,682 square feet; built in 1987
- In‑unit laundry hookups in both units
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
$19,633
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
5.24%
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%
$392,660
$392.7K
Cap Rate 7%
$280,471
$280.5K
Cap Rate 9%
$218,144
$218.1K
Market Conditions
NOI Build-Up for 1,682 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
$30.1K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$28.0K $16.67/SF
− OpEx
−$8.4K −$5.00/SF
NOI
$19.6K $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%
$392,660
Cap Rate 7%
$280,471
Cap Rate 9%
$218,144
Alternative Uses
Best Use
Multifamily LT 5
$280.5K
$245.4K – $327.2K
NOI $19,633 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$221.0K
$193.4K – $257.8K
NOI $15,470 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$437.5K
$382.8K – $510.4K
NOI $30,625 @ 7.0% cap · market cap 8.17%
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
982
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
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 residential units provide matching two-bedroom, two-bath layouts with in-unit laundry hookups and front parking.
Where is this duplex located?
The property is located at 6047 & 6049 32ND N STREET St Petersburg, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 2 full bathrooms; 1,682 square feet; built in 1987; In‑unit laundry hookups in both units
