Duplex with Private
For Sale
$475,000
638 DOGWOOD Court, Dunedin, FL 34698
Residential Income, DUNEDIN, FL
Property Size1,392 SF
Lot Size0.10 Acres
Price / SF$341.24
Days on Market76
Property Features for 638 DOGWOOD Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Dining Room, Bedroom 1
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo
Exterior features
Fence, Private Yard
Fencing
Fenced
Appliances
Range, Refrigerator
Subdivision
COLONIAL VILLAGE 3RD ADD
Elementary school
San Jose Elementary-PN
Middle school
Dunedin Highland Middle-PN
High school
Dunedin High-PN
Directions
From US 19 head west on 580 (Main St) for 4 miles. Make left onto Milwaukee Ave, then left onto Lyndhurst St, then right onto Dogwood Ct to address.
Standard status
Active
APN
34-28-15-17517-000-0530
Size
1,392 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COLONIAL VILLAGE 3RD ADD LOT 53
Tax Annual Amount
4392
Legal Description
COLONIAL VILLAGE 3RD ADD LOT 53
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(727) 772-0772
Listed By:
Gary Ubaldini · License #3007503
(727) 787-6995
Added: Jun 20
Changed: Aug 20
Last Checked: Sep 3 at 9:06AM
MLS# TB8522332
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 1,392-square-foot duplex contains two separate residences, each with two bedrooms, one bathroom, living and dining areas, a private entrance, and its own laundry room and backyard. Block and stucco construction, ceramic tile flooring, fenced grounds, public water, public sewer, and shingle roofing are among the property’s physical features. Each unit includes a range and refrigerator, while cooling is provided by wall or window units and heating by ductless systems. Built in 1970, the property sits on a 0.10-acre lot in a non-flood zone area.
The address is less than half a mile from the waterfront and Main Street Dunedin, with the Pinellas Trail nearby. TD Ballpark is approximately one-third of a mile away. The property is also within reach of Honeymoon Island State Park, Clearwater Beach, and the Sponge Docks of Tarpon Springs.
The address is less than half a mile from the waterfront and Main Street Dunedin, with the Pinellas Trail nearby. TD Ballpark is approximately one-third of a mile away. The property is also within reach of Honeymoon Island State Park, Clearwater Beach, and the Sponge Docks of Tarpon Springs.
Key Highlights
- Two‑unit duplex with 1,392 square feet of total property size
- Each residence includes 2 bedrooms, 1 bathroom, a private entrance, and a separate laundry room
- Block and stucco construction on a 0.10‑acre lot
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
$16,248
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
3.42%
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%
$324,960
$325.0K
Cap Rate 7%
$232,114
$232.1K
Cap Rate 9%
$180,533
$180.5K
Market Conditions
NOI Build-Up for 1,392 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
$24.9K $17.88/SF
− Vacancy
−$1.7K −$1.21/SF
EGI
$23.2K $16.67/SF
− OpEx
−$7.0K −$5.00/SF
NOI
$16.2K $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%
$324,960
Cap Rate 7%
$232,114
Cap Rate 9%
$180,533
Alternative Uses
Best Use
Multifamily LT 5
$232.1K
$203.1K – $270.8K
NOI $16,248 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$182.9K
$160.0K – $213.4K
NOI $12,802 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$362.1K
$316.8K – $422.4K
NOI $25,345 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,204
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
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 entered residences offer individual laundry areas, fenced outdoor space, and a coastal Dunedin setting.
Where is this duplex located?
The property is located at 638 DOGWOOD Court Dunedin, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,392 square feet of total property size; Each residence includes 2 bedrooms, 1 bathroom, a private entrance, and a separate laundry room; Block and stucco construction on a 0.10‑acre lot
