Block-Construction
New
For Sale
$425,000
11231 126TH AVENUE, Largo, FL 33778
Two-unit block-construction property with private garages, updated electrical, tankless water heaters, and no HOA.
Property Size1,707 SF
Price / SF$248.97
Days on Market3
Property Features for 11231 126TH AVENUE
General Information
Standard status
Active
Size
1,707 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
0.18 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 09-30-15-64739-008-0020, Public Survey Range: 15, Public Survey Section: 09, Annual Amount: $6,088, Tax Block: H, Tax Book Number: 69-18, Legal Description: ORANGEWOOD ESTATES SUB SECTION 2 BLK H, LOT 2, Lot: 2, Year: 2025
Carpet, Tile
2 spaces
Central Air
Central
In Garage
Listing ID: MFRTB8544515, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-01, 1 day on market, Special Conditions: None
4 total bedrooms
Built in 1976, Living area: 1707, Living area units: Square Feet, Levels: One, Construction Materials: Block, Brick
Subdivision: ORANGEWOOD ESTATES SUB SEC 2, MLS Area (Major): 33778 - Largo/Seminole, County/Parish: Pinellas
2 total bathrooms
BB/HS Internet Available, Public, Sewer Connected, Water Source: Public
Slab
Allowed: Yes
Road Surface: Asphalt, Paved
Patio/Porch Features: Rear Porch, Dog Run, Fence
Ceiling Fans(s), Eat-in Kitchen, Thermostat
Dishwasher, Range, Refrigerator, Tankless Water Heater
Building Details
Year Built
1976
Buildings
1
Construction
block construction
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(727) 772-0772
Listed By:
Gary Ubaldini · License #3007503
(727) 420-1765
Source:
Miharaandassociates
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:23PM
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 KELLER WILLIAMS REALTY- PALM HARBOR
Investment Insights
Based on property information with market context.
Built in 1976, this 1,707-square-foot duplex contains two separate units, each with 2 bedrooms, 1 bath, and a 1-car garage. Both residences have tile flooring in the main living areas and are described as move-in ready. The property is constructed with block materials and includes spacious backyards, an expansive driveway, updated electrical, and tankless water heaters. The roof was installed in 2020, and Unit A’s A/C was replaced in 2025.
The property sits at 11231 126th Avenue in Largo, within Pinellas County. It is outside a high-risk Special Flood Hazard Area and is described as high and dry. Shopping, dining, parks, recreation, the Florida Botanical Gardens, Walsingham Park, the Pinellas Trail, and Gulf beaches are identified in the surrounding Largo and Seminole areas.
Largo regulates short-term vacation rentals through registration, zoning, licensing, inspection, occupancy, parking, and other requirements. Any buyer considering that use should independently confirm eligibility and applicable regulations with the city.
The property sits at 11231 126th Avenue in Largo, within Pinellas County. It is outside a high-risk Special Flood Hazard Area and is described as high and dry. Shopping, dining, parks, recreation, the Florida Botanical Gardens, Walsingham Park, the Pinellas Trail, and Gulf beaches are identified in the surrounding Largo and Seminole areas.
Largo regulates short-term vacation rentals through registration, zoning, licensing, inspection, occupancy, parking, and other requirements. Any buyer considering that use should independently confirm eligibility and applicable regulations with the city.
Key Highlights
- Two units, each with 2 bedrooms, 1 bath, and a 1‑car garage
- 1,707 SF duplex built in 1976
- Roof installed in 2020; Unit A A/C replaced in 2025
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
$19,925
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
4.69%
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%
$398,500
$398.5K
Cap Rate 7%
$284,643
$284.6K
Cap Rate 9%
$221,389
$221.4K
Market Conditions
NOI Build-Up for 1,707 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
$30.5K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.5K $16.67/SF
− OpEx
−$8.5K −$5.00/SF
NOI
$19.9K $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%
$398,500
Cap Rate 7%
$284,643
Cap Rate 9%
$221,389
Alternative Uses
Best Use
Multifamily LT 5
$284.6K
$249.1K – $332.1K
NOI $19,925 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$224.3K
$196.2K – $261.7K
NOI $15,699 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$444.0K
$388.5K – $518.0K
NOI $31,080 @ 7.0% cap · market cap 7.31%
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
768
Businesses Nearby
Explore this area
Business Placement
Demographics for 33778, FL
15,068
Population
8,130
Households
1.9
Avg Household Size
51
Median Age
26%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
3,965
Density / Sq Mi
$63,633
Median Household Income
$40,198
Median Earnings
$1,697
Median Rent
$267,800
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-unit block-construction property with private garages, updated electrical, tankless water heaters, and no HOA.
Where is this duplex located?
The property is located at 11231 126TH AVENUE 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 units, each with 2 bedrooms, 1 bath, and a 1‑car garage; 1,707 SF duplex built in 1976; Roof installed in 2020; Unit A A/C replaced in 2025
