Two-Unit Residential
New
For Sale
$469,000
432 Dogwood Ct, Dunedin, FL 34698
Occupied duplex with two private one-bedroom residences in Dunedin.
Property Size1,248 SF
Price / SF$375.80
Days on Market4
Property Features for 432 Dogwood Ct
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1969
Listing Agency:
Florida Lakes Realty
(407) 593-9087
Listed By:
Alan Atchley
(941) 556-9100
Source:
Atchleyrealty
Added: Sep 12
Changed: Sep 14
Last Checked: Sep 14 at 8:34AM
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 Florida Lakes Realty
Investment Insights
Based on property information with market context.
Built in 1969, this residential duplex contains 1,248 square feet arranged as two separate units. Each residence provides one bedroom and one bathroom along with its own private living space. Both units are currently occupied by tenants, providing an existing rental setup for an investor or a future owner-occupant seeking a residence with an additional income-producing unit.
The property is located at 432 Dogwood Ct in Dunedin, with access to Downtown Dunedin, local restaurants, breweries, shopping, parks, beaches, the Pinellas Trail, and the Gulf Coast. Its two-unit configuration offers flexibility for continued rental use or an owner-occupancy arrangement, subject to applicable requirements.
The property is located at 432 Dogwood Ct in Dunedin, with access to Downtown Dunedin, local restaurants, breweries, shopping, parks, beaches, the Pinellas Trail, and the Gulf Coast. Its two-unit configuration offers flexibility for continued rental use or an owner-occupancy arrangement, subject to applicable requirements.
Key Highlights
- Two separate 1‑bedroom, 1‑bathroom units
- 1,248 square feet in a 2‑unit duplex
- Built in 1969
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
$14,567
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
3.11%
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%
$291,340
$291.3K
Cap Rate 7%
$208,100
$208.1K
Cap Rate 9%
$161,856
$161.9K
Market Conditions
NOI Build-Up for 1,248 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
$22.3K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.8K $16.67/SF
− OpEx
−$6.2K −$5.00/SF
NOI
$14.6K $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%
$291,340
Cap Rate 7%
$208,100
Cap Rate 9%
$161,856
Alternative Uses
Best Use
Multifamily LT 5
$208.1K
$182.1K – $242.8K
NOI $14,567 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$164.0K
$143.5K – $191.3K
NOI $11,478 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$324.6K
$284.0K – $378.7K
NOI $22,723 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,204
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 - Occupied duplex with two private one-bedroom residences in Dunedin.
Where is this duplex located?
The property is located at 432 Dogwood Ct Dunedin, FL.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Two separate 1‑bedroom, 1‑bathroom units; 1,248 square feet in a 2‑unit duplex; Built in 1969
