Four-Unit Duplex
For Sale
$599,000
8723 & 8724 N 48TH ST, Tampa, FL 33617
1973-built duplex portfolio with four total units, tenant-paid water and trash, fenced yards, and two assigned parking spaces per unit.
Property Size1,656 SF
Days on Market46
Property Features for 8723 & 8724 N 48TH ST
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$6,642
Amenities
dedicated laundry room
fully fenced private yard
Building Details
Building Size
1,656 SF
Year Built
1973
Buildings
2
Construction
block
Tenancy
Multi
Listing Agency:
DALTON WADE INC
(813) 410-2890
Listed By:
Vivian Resnick · License #3285942
Source:
Judibeck
Added: Jun 26
Changed: Aug 8
Last Checked: Aug 10 at 9:44AM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
This four-unit duplex portfolio includes two block-construction duplex buildings on two separate parcels. Each duplex has its own tax parcel ID, providing flexibility for future refinancing, resale, or long-term portfolio management. Built in 1973, the units share a consistent floorplan with two bedrooms and one bath, along with a dedicated laundry room, fully fenced private yard space, and two assigned parking spaces per unit.
Tenants pay their own utilities, including water and trash, and each duplex is separately metered for water. The combination of tenant-paid utilities and separate metering is designed to keep operating expenses predictable. Most units are currently leased, supporting an immediate stabilized occupancy profile.
The properties are described as well maintained and not located in a flood zone. Showings are by appointment only and tenants should not be disturbed.
Tenants pay their own utilities, including water and trash, and each duplex is separately metered for water. The combination of tenant-paid utilities and separate metering is designed to keep operating expenses predictable. Most units are currently leased, supporting an immediate stabilized occupancy profile.
The properties are described as well maintained and not located in a flood zone. Showings are by appointment only and tenants should not be disturbed.
Key Highlights
- Two block‑construction duplexes on two separate parcels, each with its own tax parcel ID
- Four total units with a consistent two‑bedroom, one‑bath layout
- Dedicated laundry room in each unit
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
$19,330
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
3.23%
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%
$386,600
$386.6K
Cap Rate 7%
$276,143
$276.1K
Cap Rate 9%
$214,778
$214.8K
Market Conditions
NOI Build-Up for 1,656 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
$29.6K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.6K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $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%
$386,600
Cap Rate 7%
$276,143
Cap Rate 9%
$214,778
Alternative Uses
Best Use
Multifamily LT 5
$276.1K
$241.6K – $322.2K
NOI $19,330 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$256.7K
$224.7K – $299.5K
NOI $17,972 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$385.8K
$337.6K – $450.1K
NOI $27,006 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 33617, FL
48,267
Population
21,912
Households
2.2
Avg Household Size
33
Median Age
29%
College-Educated
89%
High-School Grad
8.8 sq mi
ZIP Area
5,485
Density / Sq Mi
$48,651
Median Household Income
$33,710
Median Earnings
$1,337
Median Rent
$267,200
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 - 1973-built duplex portfolio with four total units, tenant-paid water and trash, fenced yards, and two assigned parking spaces per unit.
Where is this duplex located?
The property is located at 8723 & 8724 N 48TH ST Tampa, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two block‑construction duplexes on two separate parcels, each with its own tax parcel ID; Four total units with a consistent two‑bedroom, one‑bath layout; Dedicated laundry room in each unit
