Duplex with Enclosed
437 2ND AVE, Dunedin, FL 34698
For Sale
New
$550,000
Both residences are vacant and separately metered for water and electricity, with laundry rooms and private outdoor enclosures.
Property Size1,944 SF
Price / SF$282.92
Days on Market4
Property Features for 437 2ND AVE
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Amenities
stainless steel appliances
private enclosed porch
attached laundry room
washer/dryer included
additional storage
backyard storage shed
Building Details
Building Size
Year Built
Buildings
Listing Agency:
KELLER WILLIAMS REALTY- PALM HARBOR
Listed By:
Jaime Mumma · License #3175400
(727) 798-5292
Source:
Judibeck
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:29PM
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 KELLER WILLIAMS REALTY- PALM HARBOR
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Investment Insights
Based on property information with market context.
Built in 1984, this 1,944-square-foot duplex contains two residences, each with 2 bedrooms, 2 full bathrooms, stainless steel appliances, an enclosed porch, an attached laundry room, and additional storage. Washers and dryers are included, and water and electric service are separately metered for each unit. Both residences are vacant. The rear unit has been updated and has access to the fenced backyard; the fence layout can be changed. A storage shed and parking are also on site.
The property is in Dunedin, within walking distance of Blue Jays Stadium. Downtown Dunedin, Edgewater Drive’s waterfront, and nearby beaches are described as a short golf cart ride away. Dunedin has a 90-day minimum rental requirement.
The property is in Dunedin, within walking distance of Blue Jays Stadium. Downtown Dunedin, Edgewater Drive’s waterfront, and nearby beaches are described as a short golf cart ride away. Dunedin has a 90-day minimum rental requirement.
Key Highlights
- 1,944 heated sq. ft. duplex built in 1984
- Two units, each with 2 bedrooms and 2 full bathrooms
- Separate water and electric meters for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,691
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,820
$453.8K
Cap Rate 7%
$324,157
$324.2K
Cap Rate 9%
$252,122
$252.1K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$34.8K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$32.4K $16.67/SF
− OpEx
−$9.7K −$5.00/SF
NOI
$22.7K $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 Rate 5%
$453,820
Cap Rate 7%
$324,157
Cap Rate 9%
$252,122
Alternative Uses
Best Use
Multifamily LT 5
$324.2K
$283.6K – $378.2K
NOI $22,691 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$301.4K
$263.7K – $351.6K
NOI $21,097 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$505.6K
$442.4K – $589.9K
NOI $35,395 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
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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
$335,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Pinellas County, FL
Properties on Market for Duplexes in Pinellas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are vacant and separately metered for water and electricity, with laundry rooms and private outdoor enclosures.
Where is this duplex located?
The property is located at 437 2ND AVE Dunedin, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,944 heated sq. ft. duplex built in 1984; Two units, each with 2 bedrooms and 2 full bathrooms; Separate water and electric meters for each residence
