Two-Unit Duplex Near
For Sale
$349,900
9615 N 13TH STREET, Tampa, FL 33612
Separate electric metering and landlord-paid water support a practical residential income configuration in Tampa.
Property Size1,134 SF
Price / SF$308.55
Days on Market485
Property Features for 9615 N 13TH STREET
General Information
Standard status
Active
Size
1,134 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$36,672
Taxes and HOA fees
Annual Taxes
$3,556
Building Details
Year Built
1972
Listing Agency:
YOU FIRST REALTY AND ASSOC LLC
(813) 458-6686
Listed By:
Ramez Lahham · License #3264260
(813) 458-6686
Source:
Exitrealty
Added: May 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:27PM
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 YOU FIRST REALTY AND ASSOC LLC
Investment Insights
Based on property information with market context.
This Tampa duplex contains two residential units, with each unit offering two bedrooms and one bathroom. The property was built in 1972 and has separate electric meters serving the units. Water is paid by the landlord, providing a clearly defined utility arrangement. Current operations generate rental income, although no income figure is included here.
The property is located at 9615 N 13th Street in Tampa, near I-275 and I-4. Shopping centers, Publix, and other amenities are also identified in the surrounding area. The two-unit layout, individual electric metering, and established residential configuration define the asset’s primary operating characteristics.
The property is located at 9615 N 13th Street in Tampa, near I-275 and I-4. Shopping centers, Publix, and other amenities are also identified in the surrounding area. The two-unit layout, individual electric metering, and established residential configuration define the asset’s primary operating characteristics.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Separate electric meters for the two units
- Landlord covers the water bill
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
$13,237
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
3.78%
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%
$264,740
$264.7K
Cap Rate 7%
$189,100
$189.1K
Cap Rate 9%
$147,078
$147.1K
Market Conditions
NOI Build-Up for 1,134 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
$20.3K $17.88/SF
− Vacancy
−$1.4K −$1.21/SF
EGI
$18.9K $16.67/SF
− OpEx
−$5.7K −$5.00/SF
NOI
$13.2K $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%
$264,740
Cap Rate 7%
$189,100
Cap Rate 9%
$147,078
Alternative Uses
Best Use
Multifamily LT 5
$189.1K
$165.5K – $220.6K
NOI $13,237 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$175.8K
$153.8K – $205.1K
NOI $12,307 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$258.3K
$226.0K – $301.4K
NOI $18,082 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
717
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
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 - Separate electric metering and landlord-paid water support a practical residential income configuration in Tampa.
Where is this duplex located?
The property is located at 9615 N 13TH STREET Tampa, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; Separate electric meters for the two units; Landlord covers the water bill
