Duplex with Private
For Sale
$499,000
2824 Meadow View Avenue, Largo, FL 33771
Well-maintained single-story duplex on an oversized lot with mature trees and a private yard.
Property Size1,536 SF
Price / SF$324.87
Days on Market234
Property Features for 2824 Meadow View Avenue
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1965
Stories
1
Construction
masonry
Tenancy
Multi
Listing Agency:
BIANCHI REALTY & PROPERTY MANAGEMENT INC.
(727) 595-7653
Listed By:
Brenda Bianchi · License #574181
Source:
Realtygroupfl
Added: Jan 7
Changed: Aug 28
Last Checked: Aug 29 at 10:53AM
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 BIANCHI REALTY & PROPERTY MANAGEMENT INC.
Investment Insights
Based on property information with market context.
Well-maintained, solid masonry, single-story duplex in the Lake Palms subdivision of Largo. The property sits on an oversized lot with mature trees, offering each unit a private yard setting and a comfortable, light-filled layout. An additional 600 SF storage room is located in the middle of the structure and is currently used by Unit A as storage; it may be convertible to additional living space for either unit.
The duplex has been updated from 2020 to 2023, including new plumbing and a sewer line, new bathrooms, a new water heater, new AC condensers, a new roof, and new flooring and interior updates. The units include central heating and air, and the property has been maintained with durable finishes and practical living space. Flood Zone X.
Tenants pay utilities (TE). The home is located on a quiet street and is conveniently near E Bay Drive for access to shopping, dining, medical facilities, and major commuter routes.
The duplex has been updated from 2020 to 2023, including new plumbing and a sewer line, new bathrooms, a new water heater, new AC condensers, a new roof, and new flooring and interior updates. The units include central heating and air, and the property has been maintained with durable finishes and practical living space. Flood Zone X.
Tenants pay utilities (TE). The home is located on a quiet street and is conveniently near E Bay Drive for access to shopping, dining, medical facilities, and major commuter routes.
Key Highlights
- Well‑maintained single‑story duplex built in 1965 with 2 units in the Lake Palms subdivision of Largo
- Oversized lot with mature trees and a private yard setting
- Updates (2020–2023): new plumbing and sewer line, new bathrooms, 1 new water heater, new AC condensers, and new roof
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
$17,929
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
3.59%
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%
$358,580
$358.6K
Cap Rate 7%
$256,129
$256.1K
Cap Rate 9%
$199,211
$199.2K
Market Conditions
NOI Build-Up for 1,536 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
$27.5K $17.88/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$25.6K $16.67/SF
− OpEx
−$7.7K −$5.00/SF
NOI
$17.9K $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%
$358,580
Cap Rate 7%
$256,129
Cap Rate 9%
$199,211
Alternative Uses
Best Use
Multifamily LT 5
$256.1K
$224.1K – $298.8K
NOI $17,929 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$201.8K
$176.6K – $235.5K
NOI $14,127 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$399.5K
$349.6K – $466.1K
NOI $27,967 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
922
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained single-story duplex on an oversized lot with mature trees and a private yard.
Where is this duplex located?
The property is located at 2824 Meadow View Avenue Largo, 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: Well‑maintained single‑story duplex built in 1965 with 2 units in the Lake Palms subdivision of Largo; Oversized lot with mature trees and a private yard setting; Updates (2020–2023): new plumbing and sewer line, new bathrooms, 1 new water heater, new AC condensers, and new roof
