Turnkey Duplex with Private
For Sale
$649,000
536 PATRICIA AVE, Dunedin, FL 34698
Turnkey duplex with two 3-bedroom residences, private entrances, separate laundry, and ample off-street parking.
Property Size2,388 SF
Price / SF$270.42
Days on Market103
Property Features for 536 PATRICIA AVE
General Information
Standard status
Active
Size
2,388 SF
Property subtype
Duplex
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,674
Building Details
Building Size
2,388 SF
Year Built
1960
Tenancy
Multi
Listing Agency:
PALM LIFE REALTY
Listed By:
Chiyeen Penachio · License #3572692
(727) 686-8281
Source:
Judibeck
Added: Jul 10
Changed: Oct 17
Last Checked: Oct 19 at 1:10PM
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 PALM LIFE REALTY
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Investment Insights
Based on property information with market context.
Turnkey duplex offering two spacious residences with private entrances and comfortable, well-designed layouts. The front residence features 3 bedrooms and 1 bath, while the rear residence offers 3 bedrooms and 1.5 baths. Bright open living areas are complemented by vaulted ceilings that add an airy feel throughout. One unit includes an updated kitchen with shaker cabinetry, stainless steel appliances, updated countertops, and a tile backsplash, along with a redesigned bathroom. The second residence provides a well-maintained interior with durable flooring and generous living space, suited for immediate occupancy or continued rental income.
Outside, mature shade trees and private outdoor spaces help round out the property. Separate laundry facilities are available for each residence, along with ample off-street parking and attractive exterior updates. The property is described as located in a No Flood Zone.
The duplex is currently generating approximately $58,800 in annual gross rental income.
Outside, mature shade trees and private outdoor spaces help round out the property. Separate laundry facilities are available for each residence, along with ample off-street parking and attractive exterior updates. The property is described as located in a No Flood Zone.
The duplex is currently generating approximately $58,800 in annual gross rental income.
Key Highlights
- Turnkey duplex built in 1960 with approx. 2,400± total SF, including two nearly 1,200 SF residences
- Front unit has 3 bedrooms and 1 bath with a private entrance
- Rear unit has 3 bedrooms and 1.5 baths with a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,014
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,280
$560.3K
Cap Rate 7%
$400,200
$400.2K
Cap Rate 9%
$311,267
$311.3K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$42.9K $17.88/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$40.0K $16.67/SF
− OpEx
−$12.0K −$5.00/SF
NOI
$28.0K $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%
$560,280
Cap Rate 7%
$400,200
Cap Rate 9%
$311,267
Alternative Uses
Best Use
Multifamily LT 5
$400.2K
$350.2K – $466.9K
NOI $28,014 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$315.3K
$275.9K – $367.9K
NOI $22,073 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$624.3K
$546.2K – $728.3K
NOI $43,698 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
736
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex with two 3-bedroom residences, private entrances, separate laundry, and ample off-street parking.
Where is this duplex located?
The property is located at 536 PATRICIA AVE Dunedin, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Turnkey duplex built in 1960 with approx. 2,400± total SF, including two nearly 1,200 SF residences; Front unit has 3 bedrooms and 1 bath with a private entrance; Rear unit has 3 bedrooms and 1.5 baths with a private entrance
