Updated Two-Unit
For Sale
$499,500
6219 2nd Ave S, St Petersburg, FL 33707
Block construction, refreshed interiors, and a shared landscaped yard support flexible residential use.
Property Size1,714 SF
Price / SF$291.42
Days on Market48
Property Features for 6219 2nd Ave S
General Information
Standard status
Active
Size
1,714 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,674
Building Details
Buildings
1
Construction
block
Listing Agency:
INSTA REAL ESTATE SOLUTIONS
(813) 586-0654
Listed By:
Charles Rountree, P.A. · License #3361271
(813) 586-0654
Source:
Exprealty
Added: Jun 27
Changed: Aug 12
Last Checked: Aug 12 at 10:37AM
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 INSTA REAL ESTATE SOLUTIONS
Investment Insights
Based on property information with market context.
Located at 6219 2nd Ave S in St Petersburg, this block-construction duplex contains two updated residential units. Each apartment offers two bedrooms and one bathroom, with approximately 857 square feet per unit and 1,714 square feet of total living area. A shared yard with low-maintenance landscaping provides common outdoor space.
The property is in the Pasadena Bear Creek neighborhood, near the Central Avenue business district, beaches, downtown attractions, parks, dining, and major commuting routes. The property has a satisfactory 4-point inspection and a clean no-flood history in a non-flood zone.
The property is in the Pasadena Bear Creek neighborhood, near the Central Avenue business district, beaches, downtown attractions, parks, dining, and major commuting routes. The property has a satisfactory 4-point inspection and a clean no-flood history in a non-flood zone.
Key Highlights
- Two‑unit duplex with 1,714 square feet of total living space
- Each unit includes 2 bedrooms, 1 bathroom, and approximately 857 square feet
- Block construction with updated interiors 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
$20,007
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
4.01%
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%
$400,140
$400.1K
Cap Rate 7%
$285,814
$285.8K
Cap Rate 9%
$222,300
$222.3K
Market Conditions
NOI Build-Up for 1,714 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
$30.6K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.6K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.0K $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%
$400,140
Cap Rate 7%
$285,814
Cap Rate 9%
$222,300
Alternative Uses
Best Use
Multifamily LT 5
$285.8K
$250.1K – $333.5K
NOI $20,007 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$225.2K
$197.1K – $262.7K
NOI $15,764 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$445.8K
$390.1K – $520.1K
NOI $31,208 @ 7.0% cap · market cap 6.25%
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
1,079
Businesses Nearby
Explore this area
Business Placement
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
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 - Block construction, refreshed interiors, and a shared landscaped yard support flexible residential use.
Where is this duplex located?
The property is located at 6219 2nd Ave S St Petersburg, FL.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,714 square feet of total living space; Each unit includes 2 bedrooms, 1 bathroom, and approximately 857 square feet; Block construction with updated interiors in both units
