Two-Unit Duplex with
For Sale
$469,000
850 22nd Ave N, St Petersburg, FL 33704
Two residential units feature hardwood floors, updated bathrooms, a covered porch, and shared on-site laundry.
Property Size1,216 SF
Price / SF$385.69
Days on Market36
Property Features for 850 22nd Ave N
General Information
Standard status
Active
Size
1,216 SF
Total Parking Spaces
4
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,090
Amenities
hardwood floors
covered front porch
on-site laundry
Listing Agency:
HECKLER REALTY GROUP LLC
(727) 253-1251
Listed By:
Michelle Schnyders · License #3549184
(727) 253-1251
Source:
Exprealty
Added: Jul 20
Changed: Aug 24
Last Checked: Aug 23 at 5:08AM
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 HECKLER REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This 1,216-square-foot duplex contains two 1-bedroom, 1-bathroom units, each with hardwood flooring, spacious bedrooms, updated bathrooms with walk-in showers, and comfortable living areas. A covered front porch provides shared outdoor space, while the property also includes a shared laundry area and off-street paver parking for up to four vehicles accessed from the rear alley. Each unit has a separate electric meter, and the building uses one shared water meter.
Crescent Lake Park is one block away and includes tennis and pickleball courts, a dog park, playgrounds, walking trails, and open green space. Downtown St. Petersburg, the Gulf beaches, I-275, and the Gandy Bridge are within easy reach, connecting the property with restaurants, museums, waterfront parks, shopping, nightlife, and the broader Tampa Bay area.
Crescent Lake Park is one block away and includes tennis and pickleball courts, a dog park, playgrounds, walking trails, and open green space. Downtown St. Petersburg, the Gulf beaches, I-275, and the Gandy Bridge are within easy reach, connecting the property with restaurants, museums, waterfront parks, shopping, nightlife, and the broader Tampa Bay area.
Key Highlights
- 1,216 SF duplex with two 1‑bedroom, 1‑bathroom units
- Hardwood floors and updated bathrooms with walk‑in showers in both units
- Covered front porch and shared on‑site laundry area
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
$14,194
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
3.03%
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%
$283,880
$283.9K
Cap Rate 7%
$202,771
$202.8K
Cap Rate 9%
$157,711
$157.7K
Market Conditions
NOI Build-Up for 1,216 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
$21.7K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.3K $16.67/SF
− OpEx
−$6.1K −$5.00/SF
NOI
$14.2K $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%
$283,880
Cap Rate 7%
$202,771
Cap Rate 9%
$157,711
Alternative Uses
Best Use
Multifamily LT 5
$202.8K
$177.4K – $236.6K
NOI $14,194 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$159.8K
$139.8K – $186.4K
NOI $11,184 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$316.3K
$276.8K – $369.0K
NOI $22,140 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,339
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 residential units feature hardwood floors, updated bathrooms, a covered porch, and shared on-site laundry.
Where is this duplex located?
The property is located at 850 22nd Ave N St Petersburg, FL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 1,216 SF duplex with two 1‑bedroom, 1‑bathroom units; Hardwood floors and updated bathrooms with walk‑in showers in both units; Covered front porch and shared on‑site laundry area
