Duplex With Updated
New
For Sale
$685,000
332 ACROPOLIS DR, Dunedin, FL 34698
Two rental units provide in-unit laundry, updated kitchens, and brand-new AC systems.
Property Size1,990 SF
Days on Market4
Property Features for 332 ACROPOLIS DR
General Information
Standard status
Active
Size
1,990 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA + bonus room
Multifamily Units
2
Additional Details
Gross Income
$43,500
Taxes and HOA fees
Annual Taxes
$10,561
Amenities
in-unit laundry
Building Details
Building Size
1,990 SF
Year Built
1972
Tenancy
Multi
Listing Agency:
DALTON WADE INC
Listed By:
Nina Ibrahimbegovic · License #3303852
(727) 810-7222
Source:
Judibeck
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 7:19AM
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 DALTON WADE INC
Investment Insights
Based on property information with market context.
Built in 1972, this duplex contains two long-term rental units with distinct layouts. One side offers 3 bedrooms and 2 bathrooms, while the other includes 2 bedrooms, 1 bathroom, and an additional bonus room. Both residences feature updated kitchens, in-unit laundry, and brand-new AC systems. Professional management and tenants who have remained in place for years support an established operating setup.
The property is located at 332 Acropolis Dr in Dunedin, minutes from downtown Dunedin, the Pinellas Trail, and the Gulf beaches. The two-unit configuration, existing tenancy, and separate residential layouts provide a straightforward multifamily offering in a centrally located setting.
The property is located at 332 Acropolis Dr in Dunedin, minutes from downtown Dunedin, the Pinellas Trail, and the Gulf beaches. The two-unit configuration, existing tenancy, and separate residential layouts provide a straightforward multifamily offering in a centrally located setting.
Key Highlights
- Two‑unit duplex with 3‑bedroom/2‑bath and 2‑bedroom/1‑bath residences
- Additional bonus room included with the 2‑bedroom/1‑bath unit
- Updated kitchens and in‑unit laundry in both residences
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
$23,228
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
3.39%
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%
$464,560
$464.6K
Cap Rate 7%
$331,829
$331.8K
Cap Rate 9%
$258,089
$258.1K
Market Conditions
NOI Build-Up for 1,990 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
$35.6K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$33.2K $16.67/SF
− OpEx
−$10.0K −$5.00/SF
NOI
$23.2K $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%
$464,560
Cap Rate 7%
$331,829
Cap Rate 9%
$258,089
Alternative Uses
Best Use
Multifamily LT 5
$331.8K
$290.4K – $387.1K
NOI $23,228 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$261.5K
$228.8K – $305.0K
NOI $18,302 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$517.6K
$452.9K – $603.9K
NOI $36,233 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
939
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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Cap Rate, Value Estimation, Potential NOI and more
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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 rental units provide in-unit laundry, updated kitchens, and brand-new AC systems.
Where is this duplex located?
The property is located at 332 ACROPOLIS DR Dunedin, FL.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom/2‑bath and 2‑bedroom/1‑bath residences; Additional bonus room included with the 2‑bedroom/1‑bath unit; Updated kitchens and in‑unit laundry in both residences
