Concrete Block
New
For Sale
$439,000
3649 136TH Avenue, Largo, FL 33771
Residential Income, LARGO, FL
Property Size1,960 SF
Lot Size0.13 Acres
Price / SF$223.98
Days on Market7
Property Features for 3649 136TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 1, Bedroom 6, Bedroom 3, Bathroom 2
Interior features
Primary Bedroom Main Floor
Exterior features
Storage
Appliances
Range, Refrigerator
Subdivision
CORAL HEIGHTS SUB
Directions
Ulmerton Road to Coral Way, turn north to 136th Ave. N. turn right to address.
Standard status
Active
APN
01-30-15-18126-004-0230
Size
1,960 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL HEIGHTS SUB BLK D, LOT 23
Tax Annual Amount
4799
Legal Description
CORAL HEIGHTS SUB BLK D, LOT 23
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
APONE REALTY
Listed By:
Phyllis Apone, PA · License #626271
(727) 455-1706
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 23 at 6:06PM
MLS# TB8548941
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 concrete block duplex contains two 980-square-foot residences, each arranged with three bedrooms and one bathroom. The property was built in 1972 and has ceramic tile flooring, central air, electric heat, shingle roofing, and public water and sewer. Unit A includes interior washer and dryer hookups and a 2024 air-conditioning installation. Unit B is vacant and has a new hot water heater, a 2025 air-conditioning installation, and washer and dryer hookups in the shed. Its kitchen has updated cabinets and countertops along with a new refrigerator.
The property occupies 0.13 acres in Largo, near US Highway 19 N and Ulmerton Road. Each residence has its own water, sewer, garbage, and electric responsibility. R-4 zoning applies to the property.
The property occupies 0.13 acres in Largo, near US Highway 19 N and Ulmerton Road. Each residence has its own water, sewer, garbage, and electric responsibility. R-4 zoning applies to the property.
Key Highlights
- Two 980‑square‑foot residences, each with 3 bedrooms and 1 bathroom
- Concrete block construction on a 0.13‑acre lot
- Built in 1972 with a new shingle roof installed in 2018
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
$22,878
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
5.21%
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%
$457,560
$457.6K
Cap Rate 7%
$326,829
$326.8K
Cap Rate 9%
$254,200
$254.2K
Market Conditions
NOI Build-Up for 1,960 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
$35.0K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$32.7K $16.67/SF
− OpEx
−$9.8K −$5.00/SF
NOI
$22.9K $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%
$457,560
Cap Rate 7%
$326,829
Cap Rate 9%
$254,200
Alternative Uses
Best Use
Multifamily LT 5
$326.8K
$286.0K – $381.3K
NOI $22,878 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$257.5K
$225.3K – $300.4K
NOI $18,026 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 separately configured residences with updated systems, ceramic tile flooring, and public water and sewer service.
Where is this duplex located?
The property is located at 3649 136TH Avenue Largo, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two 980‑square‑foot residences, each with 3 bedrooms and 1 bathroom; Concrete block construction on a 0.13‑acre lot; Built in 1972 with a new shingle roof installed in 2018
