Duplex with Two
For Sale
Under Contract
$450,000
8703 NAVAJO Avenue, Tampa, FL 33637
MULTI_FAMILY - TAMPA, FL
Property Size1,300 SF
Lot Size0.22 Acres
Price / SF$346.15
Days on Market99
Property Features for 8703 NAVAJO Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RSC-6
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Family Room, Bedroom 4, Laundry Room, Bedroom 3, Bathroom 2, Bedroom 2
Window features
Window Treatments
Interior features
Kitchen/Family Room Combo, Stone Counters
Exterior features
Lighting
Subdivision
DAVIS TERRACE
Directions
From I-75, take Exit 266 for Fletcher Ave and head west. Turn right onto Morris Bridge Rd, then left onto Harney Rd. Continue to Navajo Ave and turn right. Property will be on your left at 8703 Navajo Ave.
Standard status
Active Under Contract
APN
U-13-28-19-1IL-000000-00020.0
Size
1,300 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DAVIS TERRACE LOT 20
Tax Annual Amount
4440
Legal Description
DAVIS TERRACE LOT 20
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Well
Building Details
Year built
1969
Floors in Building
1
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS RLTY NEW TAMPA · Keller Williams Realty
(813) 994-4422
Listed By:
Cristina Montoya · License #3373649
(973) 652-2908
Added: May 11
Changed: Aug 17
Last Checked: Aug 17 at 8:06PM
MLS# TB8507396
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 includes two residential units in a block and stucco building built in 1969. The property sits on a 0.22-acre lot with a total size of 1,300 square feet. Both units have central heating and central air conditioning, and the interior features include kitchen/family room combo layouts with stone counters. Exterior features include lighting.
Improvements have been made to support long-term maintenance planning, including a new shingle roof in 2017, interior renovations in 2022, and updated plumbing in 2024. Utilities are serviced by well water and a septic tank. The property is zoned RSC-6.
Overall, the configuration and renovation history make this duplex a practical option for buyers looking to own rental housing under one roof while benefiting from completed capital updates.
Improvements have been made to support long-term maintenance planning, including a new shingle roof in 2017, interior renovations in 2022, and updated plumbing in 2024. Utilities are serviced by well water and a septic tank. The property is zoned RSC-6.
Overall, the configuration and renovation history make this duplex a practical option for buyers looking to own rental housing under one roof while benefiting from completed capital updates.
Key Highlights
- Duplex building on a 0.22‑acre lot with 1,300 SF total
- Shingle roof replaced in 2017
- Interior renovations completed in 2022
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
$15,174
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
3.37%
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%
$303,480
$303.5K
Cap Rate 7%
$216,771
$216.8K
Cap Rate 9%
$168,600
$168.6K
Market Conditions
NOI Build-Up for 1,300 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
$23.2K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$21.7K $16.67/SF
− OpEx
−$6.5K −$5.00/SF
NOI
$15.2K $11.67/SF
Area
Tampa, 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%
$303,480
Cap Rate 7%
$216,771
Cap Rate 9%
$168,600
Alternative Uses
Best Use
Multifamily LT 5
$216.8K
$189.7K – $252.9K
NOI $15,174 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$201.5K
$176.4K – $235.1K
NOI $14,108 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$302.9K
$265.0K – $353.3K
NOI $21,200 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 33637, FL
18,070
Population
8,402
Households
2.2
Avg Household Size
34
Median Age
35%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,317
Density / Sq Mi
$60,526
Median Household Income
$40,997
Median Earnings
$1,531
Median Rent
$213,800
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 - Duplex zoned RSC-6 featuring central HVAC, well water, and septic service, with interior finishes updated in recent years.
Where is this duplex located?
The property is located at 8703 NAVAJO Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Duplex building on a 0.22‑acre lot with 1,300 SF total; Shingle roof replaced in 2017; Interior renovations completed in 2022
