Updated Duplex with Fenced
For Sale
$425,000
906/908 LAKE PALMS Drive, Largo, FL 33771
Residential Income, LARGO, FL
Property Size1,846 SF
Lot Size0.19 Acres
Price / SF$230.23
Days on Market24
Property Features for 906/908 LAKE PALMS Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Window features
ENERGY STAR Qualified WIndows, Blinds
Pets allowed
Dogs OK
Interior features
Ceiling Fans(s), Eat-in Kitchen, Primary Bedroom Main Floor, Thermostat, Window Treatments
Exterior features
Private Entrance
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater, Exhaust Fan, Range, Range Hood, Refrigerator
Subdivision
WHITEGATES SUB
Lot features
City Limits
View
City
Directions
East on East Bay Dr., just East of Starkey Rd. Turn right on Royal Palm Dr. (south), turn left on Meadow View Ave and right on Lake Palms Dr to address on right.
Standard status
Active
APN
01-30-15-97353-000-0090
Size
1,846 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WHITEGATES SUB LOT 9
Tax Annual Amount
4170
Legal Description
WHITEGATES SUB LOT 9
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
ceiling fans
indoor laundry rooms
fully fenced backyard
Building Details
Year built
1973
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Stucco
Roof type
Shingle
Listing Agency:
COASTAL PROPERTIES GROUP INTERNATIONAL
(727) 493-1555
Listed By:
Gwen Campbell
(727) 741-4744
Added: Aug 7
Changed: Aug 26
Last Checked: Aug 30 at 8:06AM
MLS# TB8527710
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 duplex contains two independent residences totaling 1,846 square feet: one with three bedrooms and one bathroom, and another with two bedrooms and one bathroom. Both units include tile and vinyl flooring, ceiling fans, indoor laundry rooms, and private entrances. The property has central heating and cooling, public water and sewer, and a shingle roof replaced in February 2026.
Set on a 0.19-acre parcel in Largo, the property includes a fully fenced backyard and four or more dedicated parking spaces. There is no garage. The residences are positioned near parks, shopping, dining, Gulf beaches, and amenities throughout the St. Pete-Clearwater area. Existing owner agreements currently keep rents below market levels.
Set on a 0.19-acre parcel in Largo, the property includes a fully fenced backyard and four or more dedicated parking spaces. There is no garage. The residences are positioned near parks, shopping, dining, Gulf beaches, and amenities throughout the St. Pete-Clearwater area. Existing owner agreements currently keep rents below market levels.
Key Highlights
- Two‑unit layout with 3‑bedroom and 2‑bedroom residences
- 1,846 square feet across both units
- 0.19‑acre parcel with a fully fenced backyard
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
$21,547
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
5.07%
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%
$430,940
$430.9K
Cap Rate 7%
$307,814
$307.8K
Cap Rate 9%
$239,411
$239.4K
Market Conditions
NOI Build-Up for 1,846 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
$33.0K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.8K $16.67/SF
− OpEx
−$9.2K −$5.00/SF
NOI
$21.5K $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%
$430,940
Cap Rate 7%
$307,814
Cap Rate 9%
$239,411
Alternative Uses
Best Use
Multifamily LT 5
$307.8K
$269.3K – $359.1K
NOI $21,547 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$242.5K
$212.2K – $283.0K
NOI $16,978 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$480.2K
$420.1K – $560.2K
NOI $33,611 @ 7.0% cap · market cap 7.91%
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
568
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
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 separate residences offer flexible occupancy, private entrances, indoor laundry, and dedicated off-street parking.
Where is this duplex located?
The property is located at 906/908 LAKE PALMS Drive Largo, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit layout with 3‑bedroom and 2‑bedroom residences; 1,846 square feet across both units; 0.19‑acre parcel with a fully fenced backyard
