Updated Duplex With Historic
For Sale
$799,000
781 31ST Avenue N, St Petersburg, FL 33704
Residential Income, ST PETERSBURG, FL
Property Size2,631 SF
Lot Size0.07 Acres
Price / SF$303.69
Days on Market209
Property Features for 781 31ST Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 7, Bathroom 6, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 2, Bathroom 8, Bedroom 7
Interior features
Ceiling Fans(s)
Exterior features
Courtyard, Private Entrance
Fireplace
1
Basement
Unfinished, Daylight, Exterior Entry
Subdivision
SEMINARY HEIGHTS
Directions
Head north on 9th st n starting at 30th. make a right onto 31st ave n. home is on left.
Standard status
Active
APN
07-31-17-79596-000-0221
Size
2,631 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SEMINARY HEIGHTS E 43FT OF S 67FT OF LOT 22
Tax Annual Amount
6830
Legal Description
SEMINARY HEIGHTS E 43FT OF S 67FT OF LOT 22
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1925
Number of units
2
Building materials
Stucco, Frame
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Kevin Marrow · License #3437158
(740) 632-1814
Added: Feb 3
Changed: Aug 20
Last Checked: Aug 31 at 11:06AM
MLS# TB8471937
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 2,631-square-foot duplex, built in 1925, contains two spacious residences, each arranged with two bedrooms, two bathrooms, and an office. Both units include updated kitchens with all-wood cabinetry, granite countertops, and stainless steel appliances, along with in-unit laundry and large primary suites. Recent improvements include new plumbing, electrical systems, HVAC, and impact windows. The property also features central heating and cooling, a courtyard, private entrances, stucco and frame construction, and a shingle roof.
Set on 0.07 acres in St. Petersburg, the property is located minutes from downtown, dining, shopping, parks, and major corridors. Public water and public sewer serve the site. A fireplace and ceiling fans add further interior features.
Set on 0.07 acres in St. Petersburg, the property is located minutes from downtown, dining, shopping, parks, and major corridors. Public water and public sewer serve the site. A fireplace and ceiling fans add further interior features.
Key Highlights
- Two‑unit duplex with 2 bedrooms, 2 bathrooms, and an office in each residence
- 2,631 square feet on 0.07 acres
- New plumbing, electrical, HVAC, and impact windows
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
$30,710
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
3.84%
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%
$614,200
$614.2K
Cap Rate 7%
$438,714
$438.7K
Cap Rate 9%
$341,222
$341.2K
Market Conditions
NOI Build-Up for 2,631 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
$47.0K $17.88/SF
− Vacancy
−$3.2K −$1.21/SF
EGI
$43.9K $16.67/SF
− OpEx
−$13.2K −$5.00/SF
NOI
$30.7K $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%
$614,200
Cap Rate 7%
$438,714
Cap Rate 9%
$341,222
Alternative Uses
Best Use
Multifamily LT 5
$438.7K
$383.9K – $511.8K
NOI $30,710 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$345.7K
$302.5K – $403.3K
NOI $24,198 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$684.3K
$598.8K – $798.4K
NOI $47,904 @ 7.0% cap · market cap 6.00%
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
1,295
Businesses Nearby
Explore this area
Business Placement
Demographics for 33704, FL
16,031
Population
9,037
Households
1.8
Avg Household Size
46
Median Age
58%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,715
Density / Sq Mi
$102,647
Median Household Income
$63,803
Median Earnings
$1,398
Median Rent
$657,400
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-unit property with updated kitchens, in-unit laundry, and private entrances.
Where is this duplex located?
The property is located at 781 31ST Avenue N St Petersburg, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms, 2 bathrooms, and an office in each residence; 2,631 square feet on 0.07 acres; New plumbing, electrical, HVAC, and impact windows
