Renovated Duplex with Private
For Sale
$345,000
Pending
9406 N HARTTS Drive, Tampa, FL 33617
Residential Income, TAMPA, FL
Property Size1,768 SF
Lot Size0.14 Acres
Days on Market16
Property Features for 9406 N HARTTS Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RS-60
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Driveway
Interior features
Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Thermostat
Appliances
Dryer, Refrigerator, Washer
Subdivision
TERRACE PARK SUB
Directions
From 275 and Busch, travel east. Turn left onto Hartts Dr, duplex is on the left.
Standard status
Pending
APN
A-21-28-19-43J-000009-00016.0
Size
1,768 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TERRACE PARK SUBDIVISION LOTS 16 AND 17 BLOCK 9
Tax Annual Amount
4673
Legal Description
TERRACE PARK SUBDIVISION LOTS 16 AND 17 BLOCK 9
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private entry
in-unit washer/dryer
central air conditioning
ceiling fans
private backyard
Building Details
Year built
1986
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
BOUTIQUE REALTY FLORIDA
(727) 228-3233
Listed By:
Jamie Klingman · License #3263898
(813) 230-7555
Added: Aug 16
Changed: Aug 24
Last Checked: Aug 31 at 7:06AM
MLS# TB8536841
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 single-story duplex contains 1,768 square feet arranged as two mirror-image residences. Each unit includes 2 bedrooms, 1 full bathroom, a private entrance, dedicated laundry, and two driveway parking spaces. Both interiors have been renovated with granite countertops, custom cabinetry, electric ranges, central air conditioning, white tile in the living and dining areas, ceiling fans, and reach-in closets. A refrigerator, washer, and dryer convey with the property. Each residence also includes private backyard space.
One unit is leased while the second is vacant and rent-ready. The property is zoned RS-60 and occupies a 0.14-acre lot with public water and public sewer. Its location is approximately 0.6 miles from Busch Gardens and under 2 miles from the University of South Florida. Moffitt Cancer Center and AdventHealth Tampa are both within about 3 miles, with access to I-275 and 56th Street supporting connections throughout the Tampa area.
One unit is leased while the second is vacant and rent-ready. The property is zoned RS-60 and occupies a 0.14-acre lot with public water and public sewer. Its location is approximately 0.6 miles from Busch Gardens and under 2 miles from the University of South Florida. Moffitt Cancer Center and AdventHealth Tampa are both within about 3 miles, with access to I-275 and 56th Street supporting connections throughout the Tampa area.
Key Highlights
- 1,768‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- One unit leased; second unit vacant and rent‑ready
- Renovated interiors with granite counters, custom cabinetry, central air, and dedicated laundry
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
$20,637
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
5.98%
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%
$412,740
$412.7K
Cap Rate 7%
$294,814
$294.8K
Cap Rate 9%
$229,300
$229.3K
Market Conditions
NOI Build-Up for 1,768 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
$31.6K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$29.5K $16.67/SF
− OpEx
−$8.8K −$5.00/SF
NOI
$20.6K $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%
$412,740
Cap Rate 7%
$294,814
Cap Rate 9%
$229,300
Alternative Uses
Best Use
Multifamily LT 5
$294.8K
$258.0K – $344.0K
NOI $20,637 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$274.1K
$239.8K – $319.8K
NOI $19,187 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$411.9K
$360.4K – $480.6K
NOI $28,833 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
826
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 - Two updated residences offer separate laundry, off-street parking, and one leased unit alongside a vacant, rent-ready unit.
Where is this duplex located?
The property is located at 9406 N HARTTS Drive Tampa, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 1,768‑square‑foot duplex with two 2‑bedroom, 1‑bath units; One unit leased; second unit vacant and rent‑ready; Renovated interiors with granite counters, custom cabinetry, central air, and dedicated laundry
