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    Duplex with Separate Utilities Title is generated by Realmo AI

    118 LAKE AVENUE SE, Largo, FL 33771

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    For Sale
    $419,000

    Duplex - LARGO, FL

    Type:Duplex
    Property size:
    1,718 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $243/SF
    Added:
    Apr 22, 2026
    Days on Market:
    43
    Last Refresh:
    Jun 3 at 3:06 pm

    Property Features for 118 LAKE AVENUE SE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    5
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Pets allowed
    Cats OK, Dogs OK
    Interior features
    Eat-in Kitchen
    Exterior features
    Private Entrance, Private Mailbox
    Appliances
    Range, Refrigerator
    Standard status
    Active
    APN
    36-29-15-48168-000-0240
    Size
    1,718 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5696.16

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1973
    Number of units
    2
    Flooring type
    Laminate, Tile, Tile - Ceramic
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Renny Bryden
    Renny Bryden

    Listing agent Renny Bryden License #520469

    Listing office CHARLES RUTENBERG REALTY INC 1545 S Belcher Rd, Clearwater, FL

    Listing date Apr 22, 2026

    MLS# TB8499836 Listing URL

    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.

    HighLights

    • Excellent condition duplex with long‑term tenants.
    • Separate utilities for each unit.
    • Large lot maintained by tenants.
    • Potential to increase rents by $200/month per unit.
    • Freshly painted one‑story block building with tile floors.
    • 4 Point inspections completed April 24, 2024.

    Overview

    This duplex presents in excellent condition with a freshly painted one-story block exterior and tile flooring throughout. The property is configured for separate living arrangements, with separate water meters and electric meters, as well as separate water heaters, separate HVAC systems, and washer and dryer hookup provisions for each unit. On the residential side, the current tenants have deep tenure, with tenants in place for more than 10 years and one tenant reporting 28 years in unit #B.

    The home sits on a huge lot of approximately 70 by 203, giving tenants space to maintain the yard and helping support an owner/operator’s preference for outdoor usability. Plenty of parking is available, and the tenant experience appears well-established. 4-point inspections were completed on April 24, 2024 and are attached in the MLS.

    Each unit is on a yearly lease with an early termination clause that requires 30 days written notice and a $300 relocation payment, with additional details as described in the listing remarks. The current rents are described as discounted, and the seller notes potential for increases of $200 per month per unit to reach market rates, or $400 total per month, for an additional $4,800 per year. This makes the property particularly attractive to buyers who value long-term occupancy while retaining upside through rent optimization.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Largo
    County
    Pinellas
    State
    Florida
    Longitude
    -82.756413
    Latitude
    27.915387

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    FAQs

    What type of property is this?
    Duplex - Well-maintained one-story duplex offering separate electric and water service, ideal for income-oriented buyers seeking stability.
    Where is this duplex located?
    The property is located at 118 LAKE AVENUE SE Largo, FL.
    What is the asking price?
    The asking price for this property is $419,000.
    What are key features of this property?
    This property features: Excellent condition duplex with long‑term tenants.; Separate utilities for each unit.; Large lot maintained by tenants.
    (727) 492-9502
    We can help!
    Listing Contact
    Renny Bryden
    Renny Bryden
    Real Estate License ID: 520469
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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