Renovated
For Sale
$325,000
703 2nd Ave NW #B, Ruskin, FL 33570
Two updated residential units are occupied by existing tenants.
Property Size2,136 SF
Price / SF$152.15
Days on Market17
Property Features for 703 2nd Ave NW #B
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1970
Buildings
1
Tenancy
Multi
Listing Agency:
Preferred Shore LLC
(941) 556-9100
Listed By:
Alan Atchley
(941) 556-9100
Source:
Atchleyrealty
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 9:09AM
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 Preferred Shore LLC
Investment Insights
Based on property information with market context.
This duplex at 703 2nd Ave NW #B in Ruskin includes 2,136 square feet across two residential units. Both units have undergone updates to the kitchens, bathrooms, flooring, and interior finishes, providing refreshed living spaces within the existing income-property configuration. The property was built in 1970 and is occupied by tenants.
Its Ruskin location offers access to major roadways, shopping, dining, employment centers, schools, and everyday amenities. The combination of two renovated units and established occupancy gives the property a defined rental-housing profile for an owner seeking a residential income asset.
Its Ruskin location offers access to major roadways, shopping, dining, employment centers, schools, and everyday amenities. The combination of two renovated units and established occupancy gives the property a defined rental-housing profile for an owner seeking a residential income asset.
Key Highlights
- 2,136‑square‑foot duplex in Ruskin
- Two residential units with tenants in place
- Renovated kitchens and bathrooms 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
$24,932
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
7.67%
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%
$498,640
$498.6K
Cap Rate 7%
$356,171
$356.2K
Cap Rate 9%
$277,022
$277.0K
Market Conditions
NOI Build-Up for 2,136 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
$38.2K $17.88/SF
− Vacancy
−$2.6K −$1.21/SF
EGI
$35.6K $16.67/SF
− OpEx
−$10.7K −$5.00/SF
NOI
$24.9K $11.67/SF
Area
Hillsborough 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%
$498,640
Cap Rate 7%
$356,171
Cap Rate 9%
$277,022
Alternative Uses
Best Use
Multifamily LT 5
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$280.6K
$245.6K – $327.4K
NOI $19,645 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$618.6K
$541.3K – $721.7K
NOI $43,302 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Explore this area
Business Placement
Demographics for 33570, FL
33,348
Population
14,049
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
41.8 sq mi
ZIP Area
798
Density / Sq Mi
$69,048
Median Household Income
$41,333
Median Earnings
$1,217
Median Rent
$255,400
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 updated residential units are occupied by existing tenants.
Where is this duplex located?
The property is located at 703 2nd Ave NW #B Ruskin, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,136‑square‑foot duplex in Ruskin; Two residential units with tenants in place; Renovated kitchens and bathrooms in both units
