Renovated Duplex Near Pinellas
For Sale
Under Contract
$499,000
1863 PASADENA Drive, Dunedin, FL 34698
Residential Income, DUNEDIN, FL
Property Size1,288 SF
Lot Size0.17 Acres
Price / SF$387.42
Days on Market47
Property Features for 1863 PASADENA Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Laundry Room
Parking features
Covered, Driveway
Interior features
Ceiling Fans(s), Thermostat
Exterior features
Fence, Storage
Fencing
Fenced
Appliances
Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Microwave, Range, Range Hood, Refrigerator, Washer
Subdivision
DUNEDIN ISLES 1
Elementary school
San Jose Elementary-PN
Middle school
Palm Harbor Middle-PN
High school
Dunedin High-PN
Directions
Alt 19 to Pasadena to address
Standard status
Active Under Contract
APN
22-28-15-23310-007-0020
Size
1,288 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DUNEDIN ISLES NO. 1 BLK 7, LOT 2
Tax Annual Amount
3229
Legal Description
DUNEDIN ISLES NO. 1 BLK 7, LOT 2
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
(727) 772-0772
Listed By:
Jaime Mumma · License #3175400
(727) 798-5292
Added: Aug 21
Changed: Sep 28
Last Checked: Oct 6 at 8:06PM
MLS# TB8536893
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.
Investment Insights
Based on property information with market context.
This 1,288-square-foot duplex sits on a 0.17-acre lot and has undergone a full renovation. Each unit has separate gated access to the Pinellas Trail, while the property also includes covered parking, a driveway, fenced outdoor space, storage, tile flooring, and a shingle roof. The 1958 building is served by central air, electric heat, public water, and public sewer. Air-conditioning systems and ductwork were replaced in 2024.
The property is adjacent to the Pinellas Trail and near Hammock Park, with Downtown Dunedin, the Dunedin Golf Course, and Gulf access nearby. Honeymoon Island and area beaches are a short drive away. Its two-unit configuration supports rental use or an owner-occupant arrangement with one unit available for rent.
The property is adjacent to the Pinellas Trail and near Hammock Park, with Downtown Dunedin, the Dunedin Golf Course, and Gulf access nearby. Honeymoon Island and area beaches are a short drive away. Its two-unit configuration supports rental use or an owner-occupant arrangement with one unit available for rent.
Key Highlights
- 1,288‑square‑foot duplex on a 0.17‑acre lot
- Fully renovated; A/C systems and ductwork replaced in 2024
- Private gated access to the Pinellas Trail from each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,034
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$300,680
$300.7K
Cap Rate 7%
$214,771
$214.8K
Cap Rate 9%
$167,044
$167.0K
Market Conditions
NOI Build-Up for 1,288 SF
Gross rent
$23.0K $17.88/SF
− Vacancy
−$1.6K −$1.21/SF
EGI
$21.5K $16.67/SF
− OpEx
−$6.4K −$5.00/SF
NOI
$15.0K $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%
$300,680
Cap Rate 7%
$214,771
Cap Rate 9%
$167,044
Alternative Uses
Best Use
Multifamily LT 5
$214.8K
$187.9K – $250.6K
NOI $15,034 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$169.2K
$148.1K – $197.4K
NOI $11,846 @ 7.0% cap · market cap 2.37%
Theoretical Best
Office A
$335.0K
$293.1K – $390.9K
NOI $23,451 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 34698, FL
38,010
Population
22,016
Households
1.7
Avg Household Size
56
Median Age
36%
College-Educated
95%
High-School Grad
11.2 sq mi
ZIP Area
3,394
Density / Sq Mi
$67,323
Median Household Income
$44,747
Median Earnings
$1,571
Median Rent
$335,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with gated trail access, updated mechanical systems, and public water and sewer.
Where is this duplex located?
The property is located at 1863 PASADENA Drive Dunedin, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,288‑square‑foot duplex on a 0.17‑acre lot; Fully renovated; A/C systems and ductwork replaced in 2024; Private gated access to the Pinellas Trail from each unit
