Two-Unit Duplex with
New
For Sale
$615,000
1154 ANGLE RD, Dunedin, FL 34698
Residential income property with screened porches, separate utility meters, tenant occupancy, and a backyard storage shed.
Property Size1,820 SF
Lot Size0.25 Acres
Days on Market6
Property Features for 1154 ANGLE RD
General Information
Standard status
Active
Size
1,820 SF
Total Parking Spaces
2
Lot size
0.25 Acres
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$9,064
Amenities
screened-in porch
washer and dryer hookups
storage shed
Building Details
Building Size
1,820 SF
Year Built
1958
Buildings
1
Tenancy
Multi
Listing Agency:
DALTON WADE INC
Listed By:
Nina Ibrahimbegovic · License #3303852
(727) 810-7222
Source:
Judibeck
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 24 at 4:01PM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
Built in 1958, this 1,820-square-foot duplex contains two residential units, each configured with two bedrooms and one bathroom. Both units include screened porches, washer and dryer hookups, terrazzo flooring, and an individual carport. One unit has been remodeled, while a backyard storage shed provides additional on-site storage.
The property occupies approximately a quarter-acre near downtown Dunedin and the Pinellas Trail, with restaurants and shops nearby. Long-term tenants occupy both units and have indicated they want to remain. Water and electric are separately metered, and tenants pay their own utilities. The property is not in a flood zone.
The property occupies approximately a quarter-acre near downtown Dunedin and the Pinellas Trail, with restaurants and shops nearby. Long-term tenants occupy both units and have indicated they want to remain. Water and electric are separately metered, and tenants pay their own utilities. The property is not in a flood zone.
Key Highlights
- Two 2‑bedroom, 1‑bath units within a 1,820‑square‑foot duplex
- Built in 1958 on an approximately quarter‑acre lot
- Each unit includes a screened porch, washer and dryer hookups, terrazzo flooring, and a carport
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
$21,244
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
3.45%
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%
$424,880
$424.9K
Cap Rate 7%
$303,486
$303.5K
Cap Rate 9%
$236,044
$236.0K
Market Conditions
NOI Build-Up for 1,820 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
$32.5K $17.88/SF
− Vacancy
−$2.2K −$1.21/SF
EGI
$30.3K $16.67/SF
− OpEx
−$9.1K −$5.00/SF
NOI
$21.2K $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%
$424,880
Cap Rate 7%
$303,486
Cap Rate 9%
$236,044
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.6K – $354.1K
NOI $21,244 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$239.1K
$209.2K – $279.0K
NOI $16,739 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$473.4K
$414.2K – $552.3K
NOI $33,138 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,264
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with screened porches, separate utility meters, tenant occupancy, and a backyard storage shed.
Where is this duplex located?
The property is located at 1154 ANGLE RD Dunedin, FL.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within a 1,820‑square‑foot duplex; Built in 1958 on an approximately quarter‑acre lot; Each unit includes a screened porch, washer and dryer hookups, terrazzo flooring, and a carport
