Duplex with 2025
New
For Sale
$379,000
1629 PALM Way, Largo, FL 33771
Residential Income, LARGO, FL
Property Size1,650 SF
Lot Size0.15 Acres
Price / SF$229.70
Days on Market7
Property Features for 1629 PALM Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3
Pets allowed
Yes
Interior features
Primary Bedroom Main Floor
Appliances
Range, Refrigerator
Subdivision
CORAL HEIGHTS SUB
Directions
Ulmerton Road to Coral Way, turn north, drive to 141st Ave. N, turn left, then turn right on Palm Way to address.
Standard status
Active
APN
01-30-15-18126-011-0030
Size
1,650 SF
Lot size
0.15 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL HEIGHTS SUB BLK K, LOT 3
Tax Annual Amount
4923
Legal Description
CORAL HEIGHTS SUB BLK K, LOT 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
W/D hookup
Building Details
Year built
1972
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
APONE REALTY
Listed By:
Phyllis Apone
(727) 455-1706
Added: Oct 21
Changed: Oct 27
Last Checked: Oct 27 at 9:06PM
MLS# TB8559526
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1972, this 1,650-square-foot block duplex has two three-bedroom, one-bathroom units, each with washer/dryer hookups. The property occupies a 0.15-acre lot and has R-4 zoning. A new shingle roof was installed in 2025.
Unit A is vacant and has an updated bathroom, a new range, a refrigerator that is one year old and a six-year-old water heater. Unit B also has an updated bathroom; its water heater is two years old, and its lease runs through April 30, 2027. Tenants pay electricity and trash. Public water and sewer serve the property.
Unit A is vacant and has an updated bathroom, a new range, a refrigerator that is one year old and a six-year-old water heater. Unit B also has an updated bathroom; its water heater is two years old, and its lease runs through April 30, 2027. Tenants pay electricity and trash. Public water and sewer serve the property.
Key Highlights
- Two units, each with 3 bedrooms and 1 bathroom
- 1,650 square feet on a 0.15‑acre lot
- New shingle roof installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,259
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,180
$385.2K
Cap Rate 7%
$275,129
$275.1K
Cap Rate 9%
$213,989
$214.0K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$29.5K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.5K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $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 Rate 5%
$385,180
Cap Rate 7%
$275,129
Cap Rate 9%
$213,989
Alternative Uses
Best Use
Multifamily LT 5
$275.1K
$240.7K – $321.0K
NOI $19,259 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$429.2K
$375.5K – $500.7K
NOI $30,042 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,298
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms, one bathroom and washer/dryer connections.
Where is this duplex located?
The property is located at 1629 PALM Way Largo, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 bathroom; 1,650 square feet on a 0.15‑acre lot; New shingle roof installed in 2025
