Lake View Waterfront
121 BAY STREET Tarpon Springs, FL 34689
New
For Sale
$429,500
Well-maintained duplex with lake views; Unit A is vacant and move-in ready and Unit B is tenant occupied.
Property Size1,456 SF
Price / SF$294.99
Days on Market6
Property Features for 121 BAY STREET
General Information
Standard status
Active
Size
1,456 SF
Property subtype
Half Duplex
Building Details
Year Built
1953
Listing Agency:
EXIT GLOBAL REALTY
(407) 725-7180
Listed By:
Maria Lammoglia · License #3511834
Source:
Dennisrealty
Added: Jul 24
Changed: Jul 27
Last Checked: Jul 29 at 5:55AM
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 EXIT GLOBAL REALTY
Investment Insights
Based on property information with market context.
This well-maintained waterfront duplex features lake views and bright, comfortable layouts in each unit. Unit A is vacant and move-in ready, while Unit B is tenant occupied, providing immediate rental income. The property’s duplex configuration supports flexible ownership options, including owner-occupancy with rental income.
Located in the heart of Tarpon Springs, the property is minutes from the Sponge Docks and downtown Tarpon Springs, with access to shopping, restaurants, parks, beaches, and major roadways.
Located in the heart of Tarpon Springs, the property is minutes from the Sponge Docks and downtown Tarpon Springs, with access to shopping, restaurants, parks, beaches, and major roadways.
Key Highlights
- 1953‑built waterfront duplex with lake views
- Unit A is vacant and move‑in ready
- Unit B is tenant occupied, providing immediate rental income
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.0k | $17.88 |
| − Vacancy | −$1.8k | −$1.21 |
| EGI | $24.3k | $16.67 |
| − OpEx | −$7.3k | −$5.00 |
| NOI | $17.0k | $11.67 |
1,456 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$242.8K
$212.4K – $283.3K
NOI $16,995 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$191.3K
$167.4K – $223.2K
NOI $13,391 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$331.7K
$290.2K – $387.0K
NOI $23,217 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with lake views; Unit A is vacant and move-in ready and Unit B is tenant occupied.
Where is this duplex located?
The property is located at 121 BAY STREET Tarpon Springs, FL.
What is the asking price?
The asking price for this property is $429,500.
What are key features of this property?
This property features: 1953‑built waterfront duplex with lake views; Unit A is vacant and move‑in ready; Unit B is tenant occupied, providing immediate rental income
