Two-Unit Residential
1629 PALM Way, Largo, FL 33771
For Sale
$379,000
Residential Income, LARGO, FL
Property Size1,650 SF
Lot Size0.15 Acres
Price / SF$229.70
Days on Market26
Property Features for 1629 PALM Way
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Interior features
Appliances
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
APONE REALTY
Listed By:
Phyllis Apone · License FL #626271
(727) 455-1706
Added: Oct 21
Changed: Nov 14
Last Checked: Nov 15 at 2:06AM
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 block-construction duplex contains 1,650 square feet on a 0.15-acre parcel. Each residence has three bedrooms, one bathroom, and washer-and-dryer hookups. Ceramic tile flooring, central air conditioning, and electric heat serve the property. A new roof was installed in 2025.
Unit A is vacant and includes an updated bathroom, a new range, and a refrigerator purchased one year ago. Its water heater is six years old. Unit B also has an updated bathroom; its water heater is two years old, and the lease runs through April 30, 2027. Tenants are responsible for electricity and trash. The property is zoned R-4 and has public water and sewer.
Unit A is vacant and includes an updated bathroom, a new range, and a refrigerator purchased one year ago. Its water heater is six years old. Unit B also has an updated bathroom; its water heater is two years old, and the lease runs through April 30, 2027. Tenants are responsible for electricity and trash. The property is zoned R-4 and has public water and sewer.
Key Highlights
- Two residences, each with 3 bedrooms, 1 bathroom, and washer‑and‑dryer hookups
- 1,650 square feet on a 0.15‑acre parcel
- New 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
$255.8K
$223.8K – $298.5K
NOI $17,907 @ 7.0% cap · market cap 4.72%
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
$145,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Largo, FL
Properties on Market for Duplexes in Largo
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, one bathroom, and washer-and-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 residences, each with 3 bedrooms, 1 bathroom, and washer‑and‑dryer hookups; 1,650 square feet on a 0.15‑acre parcel; New roof installed in 2025
