Residential Income Triplex
For Sale
$659,000
912 DRUID Rd E, Clearwater, FL 33756
Three separate residences offer flexible living arrangements with recent roof replacement and updated A/C systems.
Property Size2,568 SF
Days on Market60
Property Features for 912 DRUID Rd E
General Information
Standard status
Active
Size
2,568 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,808
Building Details
Building Size
2,568 SF
Year Built
1954
Tenancy
Multi
Listing Agency:
HIGH POINT REALTY INC
(727) 804-2116
Listed By:
David Kerr · License #3235605
(727) 804-2116
Source:
Elliman
Added: Jul 4
Changed: Aug 24
Last Checked: Aug 31 at 6:06PM
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 HIGH POINT REALTY INC
Investment Insights
Based on property information with market context.
This triplex property is configured with a 3BR/2BA main home and a separate two-story building containing two additional rental units. The main home includes a spacious living area, a breakfast bar, a laundry room, and a private fenced backyard. The detached building provides a 2BR/1BA apartment upstairs and a large studio apartment downstairs, with its own kitchen, bath, and laundry.
Recent improvements include a 2022 roof on the detached building and newer A/C systems for both buildings. The 3BR/2BA main home is currently leased with the lease ending soon, creating flexibility for an owner-occupant plan or continued rental income. The property is located just minutes from downtown Clearwater and approximately 10 minutes from Clearwater Beach.
Designed for buyers seeking versatile occupancy, this layout supports multiple use scenarios, including living in one unit while renting the others, or maximizing rental income across all three residences. Each unit’s kitchen and laundry access within the separate structures can support tenant convenience and operational practicality.
Recent improvements include a 2022 roof on the detached building and newer A/C systems for both buildings. The 3BR/2BA main home is currently leased with the lease ending soon, creating flexibility for an owner-occupant plan or continued rental income. The property is located just minutes from downtown Clearwater and approximately 10 minutes from Clearwater Beach.
Designed for buyers seeking versatile occupancy, this layout supports multiple use scenarios, including living in one unit while renting the others, or maximizing rental income across all three residences. Each unit’s kitchen and laundry access within the separate structures can support tenant convenience and operational practicality.
Key Highlights
- 1954‑built property with 3 separate residences: 3BR/2BA main home plus a 2BR/1BA unit and a separate studio unit
- Two‑story detached building offers 2BR/1BA apartment upstairs and a large studio downstairs, each with its own kitchen, bath, and laundry
- Recent updates include a 2022 roof on the detached building and newer A/C systems for both the main home and detached building
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
$35,420
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
5.37%
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%
$708,400
$708.4K
Cap Rate 7%
$506,000
$506.0K
Cap Rate 9%
$393,556
$393.6K
Market Conditions
NOI Build-Up for 2,568 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
$53.9K $21.00/SF
− Vacancy
−$3.3K −$1.30/SF
EGI
$50.6K $19.70/SF
− OpEx
−$15.2K −$5.91/SF
NOI
$35.4K $13.79/SF
Area
Clearwater, FL
Vacancy
6.17%
Lease Rate
$21.00 /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%
$708,400
Cap Rate 7%
$506,000
Cap Rate 9%
$393,556
Alternative Uses
Best Use
Multifamily LT 5
$506.0K
$442.8K – $590.3K
NOI $35,420 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$452.8K
$396.2K – $528.2K
NOI $31,694 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$720.5K
$630.4K – $840.6K
NOI $50,433 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,798
Businesses Nearby
Explore this area
Business Placement
Demographics for 33756, FL
31,807
Population
15,474
Households
2.1
Avg Household Size
48
Median Age
30%
College-Educated
91%
High-School Grad
7.2 sq mi
ZIP Area
4,418
Density / Sq Mi
$63,990
Median Household Income
$38,563
Median Earnings
$1,382
Median Rent
$335,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences offer flexible living arrangements with recent roof replacement and updated A/C systems.
Where is this triplex located?
The property is located at 912 DRUID Rd E Clearwater, FL.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: 1954‑built property with 3 separate residences: 3BR/2BA main home plus a 2BR/1BA unit and a separate studio unit; Two‑story detached building offers 2BR/1BA apartment upstairs and a large studio downstairs, each with its own kitchen, bath, and laundry; Recent updates include a 2022 roof on the detached building and newer A/C systems for both the main home and detached building
