Renovated Duplex with Two
For Sale
$399,900
Pending
3664 Meriden Ave, Oldsmar, FL 34677
Two updated residential units feature contemporary kitchens and refreshed baths.
Property Size1,940 SF
Days on Market129
Property Features for 3664 Meriden Ave
General Information
Standard status
Pending
Size
1,940 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,601
Building Details
Buildings
1
Listing Agency:
DALTON WADE INC
(609) 743-0650
Listed By:
Robert Bello, JR · License #285514555
(609) 743-0650
Source:
Exprealty
Added: Apr 25
Changed: Aug 30
Last Checked: Aug 30 at 8:36PM
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.
This 1,940-square-foot duplex at 3664 Meriden Ave in Oldsmar, Florida, contains two residential units, each offering two bedrooms and two bathrooms. Both interiors have been comprehensively renovated with new subfloors, luxury vinyl flooring, baseboards, lighting, ceiling fans, closet doors, texture, and paint. The kitchens include new cabinetry, quartz countertops, tile backsplashes, faucets, and stainless steel microwaves. Bathrooms were updated with new flooring, vanities, countertops, fixtures, lighting, fans, shower tile, and tub surrounds.
Exterior improvements include a new roof along with replacement windows and sliders. The property is positioned near employment hubs, retail, and commuter routes, providing access to the surrounding Oldsmar area. Projected rent is stated at $1,795 per unit and is omitted from this description under listing-copy guidelines.
Exterior improvements include a new roof along with replacement windows and sliders. The property is positioned near employment hubs, retail, and commuter routes, providing access to the surrounding Oldsmar area. Projected rent is stated at $1,795 per unit and is omitted from this description under listing-copy guidelines.
Key Highlights
- Two 2‑bedroom, 2‑bath units within a 1,940 SF duplex
- Comprehensive interior renovation across both units
- New roof, windows, and sliders
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
$22,644
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
5.66%
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%
$452,880
$452.9K
Cap Rate 7%
$323,486
$323.5K
Cap Rate 9%
$251,600
$251.6K
Market Conditions
NOI Build-Up for 1,940 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
$34.7K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$32.3K $16.67/SF
− OpEx
−$9.7K −$5.00/SF
NOI
$22.6K $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%
$452,880
Cap Rate 7%
$323,486
Cap Rate 9%
$251,600
Alternative Uses
Best Use
Multifamily LT 5
$323.5K
$283.1K – $377.4K
NOI $22,644 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$254.9K
$223.0K – $297.4K
NOI $17,842 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$504.6K
$441.5K – $588.7K
NOI $35,323 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 34677, FL
22,524
Population
10,056
Households
2.2
Avg Household Size
46
Median Age
41%
College-Educated
95%
High-School Grad
12.7 sq mi
ZIP Area
1,774
Density / Sq Mi
$85,389
Median Household Income
$46,404
Median Earnings
$1,484
Median Rent
$352,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residential units feature contemporary kitchens and refreshed baths.
Where is this duplex located?
The property is located at 3664 Meriden Ave Oldsmar, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units within a 1,940 SF duplex; Comprehensive interior renovation across both units; New roof, windows, and sliders
