Updated Two-Unit
New
For Sale
$539,990
935 17TH AVE S, St Petersburg, FL 33705
Updated interiors, private fenced backyards, and washer/dryer hookups support practical two-unit residential use.
Property Size2,448 SF
Days on Market3
Property Features for 935 17TH AVE S
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
minimal deferred maintenance
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,163
Amenities
private fenced backyard
washer/dryer hookups
RV parking pad
Building Details
Building Size
2,448 SF
Year Built
1953
Buildings
1
Listing Agency:
DALTON WADE INC
Listed By:
Carissa White
Source:
Judibeck
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 8:44AM
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.
Built in 1953, this 2,448 SF duplex contains two matching 4BR/2BA residences, each measuring 1,224 SF. Improvements include an updated roof, refreshed kitchens and bathrooms, new flooring, new lighting, butcher block countertops, and washer/dryer hookups in both units. Each residence also has its own fenced backyard.
The property occupies an oversized corner lot at 935 17th Ave S in St. Petersburg, with a detached concrete RV parking pad/lot providing an additional on-site feature. The location is minutes from Downtown St. Petersburg, shopping, dining, major employers, and local colleges.
The property occupies an oversized corner lot at 935 17th Ave S in St. Petersburg, with a detached concrete RV parking pad/lot providing an additional on-site feature. The location is minutes from Downtown St. Petersburg, shopping, dining, major employers, and local colleges.
Key Highlights
- Two‑unit duplex with matching 4BR/2BA layouts
- 2,448 SF total; each unit measures 1,224 SF
- Updated roof, kitchens, bathrooms, flooring, and lighting
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
$28,574
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
5.29%
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%
$571,480
$571.5K
Cap Rate 7%
$408,200
$408.2K
Cap Rate 9%
$317,489
$317.5K
Market Conditions
NOI Build-Up for 2,448 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
$43.8K $17.88/SF
− Vacancy
−$3.0K −$1.21/SF
EGI
$40.8K $16.67/SF
− OpEx
−$12.2K −$5.00/SF
NOI
$28.6K $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%
$571,480
Cap Rate 7%
$408,200
Cap Rate 9%
$317,489
Alternative Uses
Best Use
Multifamily LT 5
$408.2K
$357.2K – $476.2K
NOI $28,574 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$321.6K
$281.4K – $375.3K
NOI $22,515 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$636.7K
$557.2K – $742.9K
NOI $44,572 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 33705, FL
27,915
Population
15,171
Households
1.8
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
4,985
Density / Sq Mi
$70,783
Median Household Income
$40,370
Median Earnings
$1,457
Median Rent
$321,500
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 - Updated interiors, private fenced backyards, and washer/dryer hookups support practical two-unit residential use.
Where is this duplex located?
The property is located at 935 17TH AVE S St Petersburg, FL.
What is the asking price?
The asking price for this property is $539,990.
What are key features of this property?
This property features: Two‑unit duplex with matching 4BR/2BA layouts; 2,448 SF total; each unit measures 1,224 SF; Updated roof, kitchens, bathrooms, flooring, and lighting
