Remodeled Duplex with Separate
New
For Sale
$675,000
1193 & 1195 Bass Boulevard, Dunedin, FL 34698
One residence has been updated, while the second is occupied by a long-term tenant.
Property Size1,927 SF
Price / SF$350.29
Days on Market2
Property Features for 1193 & 1195 Bass Boulevard
General Information
Standard status
Active
Size
1,927 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1954
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
Listed By:
Tiffany Spyridakos · License #3307155
(727) 641-9869
Source:
Flflourish
Added: Sep 6
Last Checked: Sep 7 at 10:55AM
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 SMITH & ASSOCIATES REAL ESTATE
Investment Insights
Based on property information with market context.
This duplex at 1193 & 1195 Bass Boulevard contains 1,927 square feet and was built in 1954. The property is configured as two separate residences, with individual electric meters supporting distinct utility management. One unit has been remodeled, while the other is occupied by a long-term tenant.
The property is located in Dunedin, near downtown shops, restaurants, breweries, the Intracoastal Waterway, waterfront parks, and the Pinellas Trail. A spacious backyard and on-site parking serve the existing residences. The property is identified as being outside a flood zone, and its zoning is described as allowing potential expansion to as many as four units, subject to buyer verification.
The property is located in Dunedin, near downtown shops, restaurants, breweries, the Intracoastal Waterway, waterfront parks, and the Pinellas Trail. A spacious backyard and on-site parking serve the existing residences. The property is identified as being outside a flood zone, and its zoning is described as allowing potential expansion to as many as four units, subject to buyer verification.
Key Highlights
- Duplex at 1193 & 1195 Bass Boulevard, Dunedin, FL 34698
- 1,927 square feet; built in 1954
- Two separate electric meters for the residences
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
$22,493
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
3.33%
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%
$449,860
$449.9K
Cap Rate 7%
$321,329
$321.3K
Cap Rate 9%
$249,922
$249.9K
Market Conditions
NOI Build-Up for 1,927 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
$34.5K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$32.1K $16.67/SF
− OpEx
−$9.6K −$5.00/SF
NOI
$22.5K $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%
$449,860
Cap Rate 7%
$321,329
Cap Rate 9%
$249,922
Alternative Uses
Best Use
Multifamily LT 5
$321.3K
$281.2K – $374.9K
NOI $22,493 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$253.2K
$221.5K – $295.4K
NOI $17,723 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$501.2K
$438.6K – $584.8K
NOI $35,086 @ 7.0% cap · market cap 5.20%
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
1,179
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
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 - One residence has been updated, while the second is occupied by a long-term tenant.
Where is this duplex located?
The property is located at 1193 & 1195 Bass Boulevard Dunedin, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Duplex at 1193 & 1195 Bass Boulevard, Dunedin, FL 34698; 1,927 square feet; built in 1954; Two separate electric meters for the residences
