Dunedin Duplex Investment
408 3RD AVENUE Dunedin, FL 34698
408 3RD AVENUE, Dunedin, FL, 34698
$419,000
For Sale
$419,000
Income-producing duplex in Dunedin, Florida, near beaches and downtown.
Property Size1,344 SF
Price / SF$311.76
Days on Market464
Property Features for 408 3RD AVENUE
General Information
- Standard status
- Active
- Size
- 1,344 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1980
Listing Agency
KELLER WILLIAMS TAMPA PROP.
(813) 203-7353
Listed by
Justin Eskew · License #3415360
(813) 203-7353
Source
Exitrealty
Added: Apr 10, 2025 Checked: Jul 15 at 10:44 pm
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.
Investment Insights
Based on property information with market context.
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.
Key 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.
Local 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 | $24.0k | $17.88 |
| − Vacancy | −$1.6k | −$1.21 |
| EGI | $22.4k | $16.67 |
| − OpEx | −$6.7k | −$5.00 |
| NOI | $15.7k | $11.67 |
1,344 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$224.1K
$196.1K – $261.5K
NOI $15,688 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$176.6K
$154.5K – $206.0K
NOI $12,361 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$349.6K
$305.9K – $407.9K
NOI $24,471 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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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.
