Updated Concrete Block
New
For Sale
$439,000
3649 136th Ave, Largo, FL 33771
Two residential units offer interior laundry hookups, refreshed kitchen components, and recent air-conditioning and water-heater improvements.
Property Size1,960 SF
Price / SF$223.98
Days on Market7
Property Features for 3649 136th Ave
General Information
Standard status
Active
Size
1,960 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1972
Buildings
1
Construction
concrete block
Listing Agency:
Align Right Realty LLC
(727) 264-6800
Listed By:
Client Concierge
(941) 822-0708
Source:
Dwellingwell
Added: Sep 19
Changed: Sep 24
Last Checked: Sep 24 at 9:40AM
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 Align Right Realty LLC
Investment Insights
Based on property information with market context.
This 1960 SF concrete block duplex contains two 980 SF, 3/1 units constructed in 1972. Unit A includes interior washer/dryer hookups and a new A/C installed in 2024. Unit B is vacant for showings and has a new A/C installed in 2025, a new hot water heater, and laundry hookups located in the shed. The kitchen has been updated with new cabinets, countertops, and a refrigerator. A replacement roof was completed in 2018.
Residents are responsible for their own water, sewer, garbage, and electric service. The property is located near US Highway 19 N and Ulmerton Road in Largo, Florida.
Residents are responsible for their own water, sewer, garbage, and electric service. The property is located near US Highway 19 N and Ulmerton Road in Largo, Florida.
Key Highlights
- 1960 SF duplex with two 980 SF 3/1 units
- Concrete block construction; built in 1972
- Roof replaced in 2018
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
$22,878
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
5.21%
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%
$457,560
$457.6K
Cap Rate 7%
$326,829
$326.8K
Cap Rate 9%
$254,200
$254.2K
Market Conditions
NOI Build-Up for 1,960 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
$35.0K $17.88/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$32.7K $16.67/SF
− OpEx
−$9.8K −$5.00/SF
NOI
$22.9K $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%
$457,560
Cap Rate 7%
$326,829
Cap Rate 9%
$254,200
Alternative Uses
Best Use
Multifamily LT 5
$326.8K
$286.0K – $381.3K
NOI $22,878 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$257.5K
$225.3K – $300.4K
NOI $18,026 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,129
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer interior laundry hookups, refreshed kitchen components, and recent air-conditioning and water-heater improvements.
Where is this duplex located?
The property is located at 3649 136th Ave Largo, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 1960 SF duplex with two 980 SF 3/1 units; Concrete block construction; built in 1972; Roof replaced in 2018
