Two-Unit Duplex with
New
For Sale
$615,000
1154 ANGLE Road, Dunedin, FL 34698
Residential Income, DUNEDIN, FL
Property Size1,820 SF
Lot Size0.25 Acres
Price / SF$337.91
Days on Market2
Property Features for 1154 ANGLE Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
Interior features
Ceiling Fans(s)
Exterior features
Awning(s)
Subdivision
PLEASANT GROVE PARK 1ST ADD
Directions
Take Main Street towards downtown Dunedin. Turn left on Emerson, then take your first left on Angle. The duplex is the 1st property on the left.
Standard status
Active
APN
26-28-15-72108-011-0140
Size
1,820 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLEASANT GROVE PARK 1ST ADD BLK K, LOT 14 & W 1/2 OF LOT 13
Tax Annual Amount
9065
Legal Description
PLEASANT GROVE PARK 1ST ADD BLK K, LOT 14 & W 1/2 OF LOT 13
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
screened-in porch
washer/dryer hookups
storage shed
Building Details
Year built
1958
Building materials
Block
Roof type
Shingle
Listing Agency:
DALTON WADE INC
(888) 668-8283
Listed By:
Nina Ibrahimbegovic · License #3303852
(727) 810-7222
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 11:06AM
MLS# TB8550111
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 1,820-square-foot duplex, built in 1958, contains two 2-bedroom, 1-bath residences. Each unit has a screened porch, washer and dryer hookups, terrazzo flooring, a dedicated carport, ceiling fans, central heating, and central air. One residence has been remodeled, while the property also includes a backyard storage shed.
Set on 0.25 acres in Dunedin, the property is near downtown restaurants and shops and steps from the Pinellas Trail. Public water and public sewer serve the building, which has block construction and a shingle roof. Both units are occupied by long-term tenants who want to remain. The property is outside a flood zone.
Set on 0.25 acres in Dunedin, the property is near downtown restaurants and shops and steps from the Pinellas Trail. Public water and public sewer serve the building, which has block construction and a shingle roof. Both units are occupied by long-term tenants who want to remain. The property is outside a flood zone.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a 1,820‑square‑foot duplex
- 0.25‑acre lot with two carports and a backyard storage shed
- One unit is completely remodeled
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
$21,244
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
3.45%
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%
$424,880
$424.9K
Cap Rate 7%
$303,486
$303.5K
Cap Rate 9%
$236,044
$236.0K
Market Conditions
NOI Build-Up for 1,820 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
$32.5K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.3K $16.67/SF
− OpEx
−$9.1K −$5.00/SF
NOI
$21.2K $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%
$424,880
Cap Rate 7%
$303,486
Cap Rate 9%
$236,044
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,244 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$239.1K
$209.2K – $279.0K
NOI $16,739 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$473.4K
$414.2K – $552.3K
NOI $33,138 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 34698, FL
38,010
Population
22,016
Households
1.7
Avg Household Size
56
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,394
Density / Sq Mi
$67,323
Median Household Income
$44,747
Median Earnings
$1,571
Median Rent
$335,800
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units feature screened porches, laundry hookups, and terrazzo flooring.
Where is this duplex located?
The property is located at 1154 ANGLE Road Dunedin, FL.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within a 1,820‑square‑foot duplex; 0.25‑acre lot with two carports and a backyard storage shed; One unit is completely remodeled
