12-Unit Duplex
For Sale
$370,000
921 E 122ND Avenue, Tampa, FL 33612
Residential Income, TAMPA, FL
Property Size1,156 SF
Lot Size0.12 Acres
Price / SF$320.07
Days on Market8
Property Features for 921 E 122ND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RDC-12
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2
Pets allowed
Yes, Cats OK, Dogs OK
Interior features
Ninguno
Subdivision
REVISED MAP OF FLOWERS AND STUART OAK GROVE SUB
Lot features
City Limits, Near Public Transit
Elementary school
Miles-HB
Middle school
Liberty-HB
High school
Freedom-HB
Directions
Head northeast on Exit 51. Use the 2nd from the left lane to turn slightly right onto the FL-582 E ramp. Use the left lane to turn slightly right onto FL-582 E/E Fowler Ave. Use the 2nd from the left lane to turn left onto N Nebraska Ave. Turn right onto E 122nd Ave
Special listing conditions
Short Sale
Standard status
Active
APN
U-07-28-19-1GS-000000-00004.2
Size
1,156 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
REVISED MAP OF FLOWERS AND STUART OAK GROVE SUB E 50 FT OF W 126.88 FT OF LOT 4
Legal Description
REVISED MAP OF FLOWERS AND STUART OAK GROVE SUB E 50 FT OF W 126.88 FT OF LOT 4
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1967
Number of units
2
Building materials
Block
Listing Agency:
FUTURE HOME REALTY INC
(813) 855-4982
Listed By:
Kristen Mendez · License #3352686
(727) 314-2696
Added: Sep 14
Changed: Sep 21
Last Checked: Sep 21 at 4:06AM
MLS# TB8546611
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 residential income property comprises six buildings containing 12 one-bedroom, one-bath units across a 0.12-acre site. The buildings were constructed in 1967 with block construction, ductless heating, and wall or window unit cooling. The property measures 1,156 square feet and includes public water and public sewer service.
Located in Tampa, the property is within ZIP Code 33612 in Hillsborough County. RCD-12 zoning and the absence of rental restrictions are identified in the property information. The configuration provides a concentrated multifamily asset with multiple residential units under common ownership.
Located in Tampa, the property is within ZIP Code 33612 in Hillsborough County. RCD-12 zoning and the absence of rental restrictions are identified in the property information. The configuration provides a concentrated multifamily asset with multiple residential units under common ownership.
Key Highlights
- Six buildings containing 12 one‑bedroom, one‑bath units
- 0.12‑acre site with 1,156 square feet of property size
- RCD‑12 zoning with no rental restrictions identified
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
$13,493
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
3.65%
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%
$269,860
$269.9K
Cap Rate 7%
$192,757
$192.8K
Cap Rate 9%
$149,922
$149.9K
Market Conditions
NOI Build-Up for 1,156 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
$20.7K $17.88/SF
− Vacancy
−$1.4K −$1.21/SF
EGI
$19.3K $16.67/SF
− OpEx
−$5.8K −$5.00/SF
NOI
$13.5K $11.67/SF
Area
ZIP 33612
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%
$269,860
Cap Rate 7%
$192,757
Cap Rate 9%
$149,922
Alternative Uses
Best Use
Multifamily LT 5
$192.8K
$168.7K – $224.9K
NOI $13,493 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$179.2K
$156.8K – $209.1K
NOI $12,546 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$263.3K
$230.4K – $307.2K
NOI $18,433 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,468
Businesses Nearby
Explore this area
Business Placement
Demographics for 33612, FL
49,452
Population
21,228
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
4,995
Density / Sq Mi
$43,919
Median Household Income
$32,724
Median Earnings
$1,259
Median Rent
$249,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Six block-level buildings provide a multi-unit residential income property with public utilities and RCD-12 zoning.
Where is this duplex located?
The property is located at 921 E 122ND Avenue Tampa, FL.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Six buildings containing 12 one‑bedroom, one‑bath units; 0.12‑acre site with 1,156 square feet of property size; RCD‑12 zoning with no rental restrictions identified
