Duplex with Month-to-Month
For Sale
$359,000
610 16TH Avenue S, St Petersburg, FL 33701
Residential Income, ST PETERSBURG, FL
Property Size1,152 SF
Lot Size0.11 Acres
Price / SF$311.63
Days on Market240
Property Features for 610 16TH Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Interior features
Ceiling Fans(s)
Appliances
Range, Refrigerator
Subdivision
KERR ADD
Elementary school
Campbell Park Elementary-PN
Middle school
John Hopkins Middle-PN
High school
Gibbs High-PN
Directions
4th Street south. Right on 15th Ave South. Left on 5th Street S. Right on 16th Ave S. Property on your left
Standard status
Active
APN
30-31-17-46404-004-0020
Size
1,152 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
KERR ADD BLK 4, LOT 2
Tax Annual Amount
5172
Legal Description
KERR ADD BLK 4, LOT 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
GENSTONE REALTY
(833) 396-0092
Listed By:
Adem Aydoner · License #3376995
(309) 825-3888
Added: Jan 21
Changed: Aug 29
Last Checked: Sep 18 at 8:06PM
MLS# TB8468376
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 duplex contains two tenant-occupied units within a 1,152-square-foot property on a 0.11-acre lot. Both residences are leased month to month, providing ongoing rental income and flexibility for a future owner-occupant arrangement. The property was built in 1961 and includes block construction, laminate flooring, ceiling fans, central heating, and central air conditioning. Each unit is equipped with a range and refrigerator.
Located at 610 16th Avenue S in St. Petersburg’s Bartlett Park area, the property is near Downtown St. Petersburg and the city’s restaurants, entertainment, and beaches. Public water and public sewer serve the property, with cable availability also noted. A shingle roof completes the existing improvements.
Located at 610 16th Avenue S in St. Petersburg’s Bartlett Park area, the property is near Downtown St. Petersburg and the city’s restaurants, entertainment, and beaches. Public water and public sewer serve the property, with cable availability also noted. A shingle roof completes the existing improvements.
Key Highlights
- Two tenant‑occupied units
- Month‑to‑month leases on both units
- 1,152 square feet on a 0.11‑acre lot
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
$13,447
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
3.75%
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%
$268,940
$268.9K
Cap Rate 7%
$192,100
$192.1K
Cap Rate 9%
$149,411
$149.4K
Market Conditions
NOI Build-Up for 1,152 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
$20.6K $17.88/SF
− Vacancy
−$1.4K −$1.21/SF
EGI
$19.2K $16.67/SF
− OpEx
−$5.8K −$5.00/SF
NOI
$13.4K $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%
$268,940
Cap Rate 7%
$192,100
Cap Rate 9%
$149,411
Alternative Uses
Best Use
Multifamily LT 5
$192.1K
$168.1K – $224.1K
NOI $13,447 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$151.4K
$132.4K – $176.6K
NOI $10,595 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$299.6K
$262.2K – $349.6K
NOI $20,975 @ 7.0% cap · market cap 5.84%
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
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 33701, FL
19,137
Population
13,434
Households
1.4
Avg Household Size
48
Median Age
55%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
7,088
Density / Sq Mi
$69,098
Median Household Income
$48,072
Median Earnings
$1,531
Median Rent
$590,900
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units provide current rental income with flexible lease terms for an owner-occupant or investor.
Where is this duplex located?
The property is located at 610 16TH Avenue S St Petersburg, FL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two tenant‑occupied units; Month‑to‑month leases on both units; 1,152 square feet on a 0.11‑acre lot
