Updated Duplex with Studio
For Sale
$375,000
3684 14TH SE AVENUE, Largo, FL 33771
Two-unit property with a four-bedroom main residence and separate studio suite featuring a kitchenette.
Property Size1,452 SF
Price / SF$258.26
Days on Market474
Property Features for 3684 14TH SE AVENUE
General Information
Standard status
Active
Size
1,452 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,245
Building Details
Year Built
1959
Listing Agency:
COMPASS FLORIDA LLC
(941) 539-7253
Listed By:
Zach Steinberger · License #3438328
(941) 539-7253
Source:
Exitrealty
Added: May 15, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:33PM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This duplex includes a 1,452-square-foot main residence with four bedrooms and two bathrooms, plus a separate studio mother-in-law suite with a kitchenette. Improvements include vinyl flooring, fresh paint, selected updated windows, and newer stainless steel appliances. The property was built in 1959 with block construction.
Located in unincorporated Pinellas, the property is identified as being outside a flood zone and may legally accommodate short-term rentals such as Airbnb or VRBO. The configuration supports owner-occupancy with a separate second unit, and the property is presented with an 8%+ cap rate for investment analysis.
Located in unincorporated Pinellas, the property is identified as being outside a flood zone and may legally accommodate short-term rentals such as Airbnb or VRBO. The configuration supports owner-occupancy with a separate second unit, and the property is presented with an 8%+ cap rate for investment analysis.
Key Highlights
- 1,452 SF duplex with a four‑bedroom, two‑bathroom main residence
- Separate studio mother‑in‑law suite with kitchenette
- 8%+ cap rate stated for the property
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
$16,948
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
4.52%
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%
$338,960
$339.0K
Cap Rate 7%
$242,114
$242.1K
Cap Rate 9%
$188,311
$188.3K
Market Conditions
NOI Build-Up for 1,452 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
$26.0K $17.88/SF
− Vacancy
−$1.7K −$1.21/SF
EGI
$24.2K $16.67/SF
− OpEx
−$7.3K −$5.00/SF
NOI
$16.9K $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%
$338,960
Cap Rate 7%
$242,114
Cap Rate 9%
$188,311
Alternative Uses
Best Use
Multifamily LT 5
$242.1K
$211.9K – $282.5K
NOI $16,948 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$190.8K
$166.9K – $222.6K
NOI $13,354 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$377.7K
$330.5K – $440.6K
NOI $26,437 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
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 - Two-unit property with a four-bedroom main residence and separate studio suite featuring a kitchenette.
Where is this duplex located?
The property is located at 3684 14TH SE AVENUE Largo, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,452 SF duplex with a four‑bedroom, two‑bathroom main residence; Separate studio mother‑in‑law suite with kitchenette; 8%+ cap rate stated for the property
