Four-Unit Multifamily
New
For Sale
$700,000
373 5TH NW, Largo, FL 33770
Two mirrored duplexes provide single-level living, dedicated parking, and practical layouts throughout.
Property Size3,780 SF
Days on Market2
Property Features for 373 5TH NW
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Investment
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,747
Building Details
Building Size
3,780 SF
Year Built
1985
Units
4
Listing Agency:
RE/MAX Action First
Listed By:
Michelle Cline, PA
(727) 424-1108
Source:
Elliman
Added: Sep 20
Last Checked: Sep 20 at 2:49PM
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 RE/MAX Action First
Investment Insights
Based on property information with market context.
This multifamily property comprises two separate mirrored duplexes with four total units. Each residence is single-level and includes 2 bedrooms, 2 full bathrooms, and a walk-in closet in the primary bedroom. A new roof was completed in 2026, and the property includes a termite warranty. Parking is provided by a dedicated parking pad, with additional street parking also available.
The property is located at 373 5TH NW in Largo, Florida, within walking distance of Largo Central Park. Shopping, dining, major roadways, and Gulf beaches are also identified as nearby conveniences. The location has a walk score of 72, a bike score of 73, and a transit score of 35. Built in 1985, the property offers a consistent two-bedroom, two-bath configuration across all units.
The property is located at 373 5TH NW in Largo, Florida, within walking distance of Largo Central Park. Shopping, dining, major roadways, and Gulf beaches are also identified as nearby conveniences. The location has a walk score of 72, a bike score of 73, and a transit score of 35. Built in 1985, the property offers a consistent two-bedroom, two-bath configuration across all units.
Key Highlights
- Four total units arranged as two separate mirrored duplexes
- Each unit includes 2 bedrooms and 2 full bathrooms
- Single‑level layouts with primary‑bedroom walk‑in closets
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
$44,122
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
6.30%
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%
$882,440
$882.4K
Cap Rate 7%
$630,314
$630.3K
Cap Rate 9%
$490,244
$490.2K
Market Conditions
NOI Build-Up for 3,780 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
$67.6K $17.88/SF
− Vacancy
−$4.6K −$1.21/SF
EGI
$63.0K $16.67/SF
− OpEx
−$18.9K −$5.00/SF
NOI
$44.1K $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%
$882,440
Cap Rate 7%
$630,314
Cap Rate 9%
$490,244
Alternative Uses
Best Use
Multifamily LT 5
$630.3K
$551.5K – $735.4K
NOI $44,122 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$496.6K
$434.6K – $579.4K
NOI $34,765 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$983.2K
$860.3K – $1.15M
NOI $68,825 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
881
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
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?
Multifamily property - Two mirrored duplexes provide single-level living, dedicated parking, and practical layouts throughout.
Where is this multifamily property located?
The property is located at 373 5TH NW Largo, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four total units arranged as two separate mirrored duplexes; Each unit includes 2 bedrooms and 2 full bathrooms; Single‑level layouts with primary‑bedroom walk‑in closets
