Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Dunedin Duplex Investment Opportunity Title is generated by Realmo AI

    408 3RD AVENUE, Dunedin, FL 34698

    View on Map
    Claim this Listing
    For Sale
    $419,000

    Income-producing duplex in Dunedin, Florida, near beaches and downtown.

    Type:Multi Family
    Property size:
    1,344 SF
    Price / SF:
    $311/SF
    Added:
    Apr 9, 2025
    Days on Market:
    420
    Last Refresh:
    May 28 at 12:24 pm

    Property Features for 408 3RD AVENUE

    General Information

    Standard status
    Active
    Size
    1,344 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1980

    We can help!

    Listing Contact
    Justin Eskew

    Listing agent Justin Eskew License #3415360

    Listing office KELLER WILLIAMS TAMPA PROP.

    Listing date Apr 9, 2025

    Source Exitrealty

    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 KELLER WILLIAMS TAMPA PROP.

    HighLights

    • Cash‑flowing duplex in desirable Dunedin, FL, offering immediate rental income potential.
    • Two units, each with 2 bedrooms and 1 bathroom, totaling 1,344 sqft.
    • Separately metered for electricity, water, and sewer, simplifying management.
    • New roof (2020) and HVAC (2021), reducing near‑term maintenance costs.
    • Located in flood zone "X" and evacuation zone "D".
    • Close proximity to Clearwater & St Pete beaches, Blue Jays spring training, and downtown Dunedin.

    Overview

    Located in Dunedin, Florida, this duplex presents an investment opportunity. The 1,344 square foot property consists of two units, each featuring two bedrooms and one bathroom. Each unit is separately metered for electricity, water, and sewer. Situated in flood zone "X" and evacuation zone "D." One unit is currently vacant and was previously rented for $1,595. The other unit is occupied and rented for $1,595, with the lease expiring on January 31, 2026. According to Pinellas County property appraiser records, the roof was replaced in 2020, and the HVAC system was replaced in 2021. The property is located close to beaches, the Blue Jays spring training complex, and downtown Dunedin.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency 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
    Dunedin
    County
    Pinellas
    State
    Florida
    Longitude
    -82.778009
    Latitude
    28.005771

    Nearby Similar for Sale

    • $950,000
      3,600 SF

      Dunedin Light Industrial Investment

      Leased light industrial asset with income and growth potential.
      620 UNION STREET, DUNEDIN, FL 34698
      View Details
    • $394,000
      1,575 SF

      Dunedin Medical Office Condo

      Medical office condo in Dunedin, ample parking, diverse tenants.
      2323 CURLEW ROAD, DUNEDIN, FL 34698
      View Details
    • $262,500
      1,050 SF

      Medical Office Condo For Sale

      Medical office condo in Dunedin, Florida, available for purchase.
      2323 CURLEW ROAD, DUNEDIN, FL 34698
      View Details
    • $3,750,000
      6,437 SF

      Waterfront Multifamily Investment Opportunity

      Income-producing waterfront property with redevelopment potential in Dunedin, Florida.
      439 CAUSEWAY BOULEVARD, DUNEDIN, FL 34698
      View Details
    • $250,000
      1,050 SF

      Medical Office Condo For Sale

      Medical office condo in Dunedin, near US19.
      2323 CURLEW ROAD, DUNEDIN, FL 34698
      View Details
    • $4,125,000

      Dunedin Vintage Carriage House Opportunity

      Unique vintage carriage house near downtown Dunedin and intracoastal waterway.
      1040 BROADWAY, DUNEDIN, FL 34698
      View Details
    • $515,000
      1,288 SF

      Renovated Duplex in Coastal Dunedin

      Fully renovated duplex in desirable location with income potential.
      1863 PASADENA DRIVE, DUNEDIN, FL 34698
      View Details
    • $3,625,000
      4,236 SF

      Downtown Dunedin Commercial Opportunity

      Two-story building in downtown Dunedin near shops and restaurants.
      220 SCOTLAND STREET, DUNEDIN, FL 34698
      View Details
    • $18,000,000
      39,616 SF

      Dunedin Mixed-Use Development Opportunity

      Beachside mixed-use development with townhomes, hotel, and retail space.
      265 CAUSEWAY BOULEVARD, DUNEDIN, FL 34698
      View Details
    • $950,000
      3,600 SF

      Dunedin Light Industrial Investment

      Leased industrial asset with contractual rent increases in Dunedin, Florida.
      620 UNION St, Dunedin, FL 34698
      View Details
    • $660,000
      1,624 SF

      Dunedin Duplex Near Waterfront

      Desirable duplex near waterfront, shops, and restaurants in Dunedin.
      442 LYNDHURST STREET, DUNEDIN, FL 34698
      View Details
    • $1,199,500
      2,357 SF

      Dunedin Triplex Under Construction

      Renovated triplex in Dunedin, close to downtown and beaches.
      79 PATRICIA AVENUE, DUNEDIN, FL 34698
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-producing duplex in Dunedin, Florida, near beaches and downtown.
    Where is this duplex located?
    The property is located at 408 3RD AVENUE Dunedin, 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: Cash‑flowing duplex in desirable Dunedin, FL, offering immediate rental income potential.; Two units, each with 2 bedrooms and 1 bathroom, totaling 1,344 sqft.; Separately metered for electricity, water, and sewer, simplifying management.
    (813) 203-7353
    We can help!
    Listing Contact
    Justin Eskew
    Real Estate License ID: 3415360
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    408 3RD AVENUE, DUNEDIN, FL 34698
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!