Block-Construction
New
For Sale
$425,000
11231 126TH Avenue, Largo, FL 33778
Residential Income, LARGO, FL
Property Size1,707 SF
Lot Size0.18 Acres
Price / SF$248.97
Days on Market2
Property Features for 11231 126TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 2
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen, Thermostat
Exterior features
Dog Run, Fence
Fencing
Fenced
Appliances
Dishwasher, Range, Refrigerator, Tankless Water Heater
Subdivision
ORANGEWOOD ESTATES SUB SEC 2
Directions
30522 US Hwy 19 N, Palm Harbor, head south on US Hwy 19 N. Continue south through the Curlew Rd, SR 580/Main St, Sunset Point Rd, Gulf-to-Bay Blvd, and East Bay Dr areas. Turn right (west) onto 126th Ave N and continue west. Follow 126th Ave N to 11231 126th Ave N, Largo, FL 33778. Property will be located at the destination.
Standard status
Active
APN
09-30-15-64739-008-0020
Size
1,707 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORANGEWOOD ESTATES SUB SECTION 2 BLK H, LOT 2
Tax Annual Amount
6088
Legal Description
ORANGEWOOD ESTATES SUB SECTION 2 BLK H, LOT 2
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Flooring type
Tile, Carpet
Building materials
Block, Brick
Roof type
Shingle
Additional Structures
Kennel/Dog Run
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(727) 772-0772
Listed By:
Gary Ubaldini · License #3007503
(727) 787-6995
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 9:06AM
MLS# TB8544515
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 1,707-square-foot duplex, built in 1976, contains two separate units with two bedrooms and one bathroom apiece. Each side includes a one-car garage, tile flooring in the main living areas, a kitchen with range, refrigerator, and dishwasher, central heating and air conditioning, and a tankless water heater. The block-and-brick property also features fenced backyards, a dog run, porches, and an expansive driveway. Both units are described as move-in ready.
Major improvements include a shingle roof installed in 2020, replacement of Unit A’s A/C in 2025, updated electrical, and tankless water heaters. The property sits on 0.18 acres with public water and public sewer and no HOA. It is outside a high-risk Special Flood Hazard Area. The City of Largo regulates short-term vacation rentals, with registration, zoning, licensing, inspection, occupancy, parking, and other requirements applying to qualifying uses.
Located near shopping, dining, everyday services, parks, recreation, Walsingham Park, the Florida Botanical Gardens, Pinellas Trail, and Gulf beaches, the duplex offers separate living arrangements and two garage spaces within Pinellas County.
Major improvements include a shingle roof installed in 2020, replacement of Unit A’s A/C in 2025, updated electrical, and tankless water heaters. The property sits on 0.18 acres with public water and public sewer and no HOA. It is outside a high-risk Special Flood Hazard Area. The City of Largo regulates short-term vacation rentals, with registration, zoning, licensing, inspection, occupancy, parking, and other requirements applying to qualifying uses.
Located near shopping, dining, everyday services, parks, recreation, Walsingham Park, the Florida Botanical Gardens, Pinellas Trail, and Gulf beaches, the duplex offers separate living arrangements and two garage spaces within Pinellas County.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- Each unit includes a 1‑car garage
- 1,707 square feet on a 0.18‑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
$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-bedroom units include private garages and tile-floored living areas.
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‑unit duplex with 2 bedrooms and 1 bathroom per unit; Each unit includes a 1‑car garage; 1,707 square feet on a 0.18‑acre lot
