Block Construction
For Sale
Under Contract
$363,500
3760 135TH Avenue, Largo, FL 33771
Residential Income, LARGO, FL
Property Size1,650 SF
Lot Size0.13 Acres
Price / SF$220.30
Days on Market109
Property Features for 3760 135TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Pets allowed
Cats OK, Dogs OK, Yes
Exterior features
Fence
Fencing
Fenced
Appliances
Range, Range Hood, Refrigerator
Subdivision
CORAL HEIGHTS SUB
Elementary school
Fuguitt Elementary-PN
Middle school
Pinellas Park Middle-PN
High school
Pinellas Park High-PN
Directions
From US-19, head west on Ulmerton Rd, turn right onto Coral Dr, then right onto 135th Ave. Property will be on your right.
Standard status
Active Under Contract
APN
01-30-15-18126-002-0120
Size
1,650 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL HEIGHTS SUB BLK B, LOT 12
Tax Annual Amount
4014
Legal Description
CORAL HEIGHTS SUB BLK B, LOT 12
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Building materials
Block
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL · Keller Williams Realty
(813) 865-0700
Listed By:
Bradley Chais · License #3135765
(813) 421-2855
Added: May 5
Changed: Aug 19
Last Checked: Aug 21 at 10:06PM
MLS# TB8505499
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story duplex contains two separate residences, each offering 2 bedrooms, 1 bathroom, a combined living and dining area, a galley kitchen, and generously sized bedrooms. Block construction, central heating and cooling, range appliances, refrigerators, and a fenced site are among the property’s physical features. One unit is occupied, while the second is vacant for a new resident or owner occupant.
The property occupies a 0.13-acre parcel in Largo and includes 1,650 square feet of building area. Public water and sewer serve the site, and the property is designated R-4. Gulf beaches are approximately 10 minutes away, with access to Indian Rocks Beach, Clearwater Beach, Ulmerton Road, and I-275. Dining and shopping are also identified in the surrounding area.
The property occupies a 0.13-acre parcel in Largo and includes 1,650 square feet of building area. Public water and sewer serve the site, and the property is designated R-4. Gulf beaches are approximately 10 minutes away, with access to Indian Rocks Beach, Clearwater Beach, Ulmerton Road, and I-275. Dining and shopping are also identified in the surrounding area.
Key Highlights
- Two‑unit duplex with 1,650 square feet of building area
- Each unit has 2 bedrooms, 1 bathroom, living and dining areas, and a galley kitchen
- One unit is occupied; the second unit is vacant
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
$19,259
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
5.30%
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%
$385,180
$385.2K
Cap Rate 7%
$275,129
$275.1K
Cap Rate 9%
$213,989
$214.0K
Market Conditions
NOI Build-Up for 1,650 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
$29.5K $17.88/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$27.5K $16.67/SF
− OpEx
−$8.3K −$5.00/SF
NOI
$19.3K $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%
$385,180
Cap Rate 7%
$275,129
Cap Rate 9%
$213,989
Alternative Uses
Best Use
Multifamily LT 5
$275.1K
$240.7K – $321.0K
NOI $19,259 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$429.2K
$375.5K – $500.7K
NOI $30,042 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Single-level two-bedroom units with central HVAC, public utilities, and fenced grounds in Largo.
Where is this duplex located?
The property is located at 3760 135TH Avenue Largo, FL.
What is the asking price?
The asking price for this property is $363,500.
What are key features of this property?
This property features: Two‑unit duplex with 1,650 square feet of building area; Each unit has 2 bedrooms, 1 bathroom, living and dining areas, and a galley kitchen; One unit is occupied; the second unit is vacant
