Two-Unit Duplex with Private
New
For Sale
$449,900
542 DIVISION Street, Tarpon Springs, FL 34689
Residential Income, TARPON SPRINGS, FL
Property Size1,729 SF
Lot Size0.11 Acres
Price / SF$260.21
Days on Market4
Property Features for 542 DIVISION Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Family Room, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 2
Parking features
Off Street
Patio and Porch features
Porch
Interior features
Ceiling Fans(s), Kitchen/Family Room Combo
Exterior features
Sidewalk
Appliances
Range, Refrigerator
Subdivision
TARPON HEIGHTS REV OF SEC D OF I B READ
Lot features
Historic District, City Limits, Sidewalk, Street Brick
Directions
From Alt 19 Head west on Athens St. and then Left on Division St.
Standard status
Active
APN
12-27-15-89874-000-0080
Size
1,729 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TARPON HEIGHTS, REV PLAT OF SECTION D OF I.B. READS LOT 8
Tax Annual Amount
7158
Legal Description
TARPON HEIGHTS, REV PLAT OF SECTION D OF I.B. READS LOT 8
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private laundry
off-street parking
walk-in shower
Building Details
Year built
1920
Flooring type
Vinyl
Building materials
HardiPlank Type, Frame
Roof type
Membrane, Metal
Listing Agency:
FLORIDA PREMIERE REALTY
(727) 437-0261
Listed By:
Artemis Kousathanas · License #699268
(727) 514-0354
Added: Oct 11
Changed: Oct 14
Last Checked: Oct 14 at 3:06PM
MLS# TB8557020
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.
Built in 1920, this 1,729-square-foot duplex contains two units, each arranged with two bedrooms and one bathroom. Both have private laundry and off-street parking. The main unit includes a kitchen with butcher block counters and a farmhouse-style sink, along with a bathroom featuring a tiled walk-in shower. Vinyl plank flooring and recent interior paint are also noted. The 0.11-acre property has a porch, central heating and air conditioning, and HardiPlank-type construction.
The property is outside a flood zone in Tarpon Springs. The Sponge Docks, Spring Bayou, downtown Tarpon Springs, and the Pinellas Trail are all within walking distance. The second unit may serve as guest, in-law, or rental accommodation, as described in the property information.
The property is outside a flood zone in Tarpon Springs. The Sponge Docks, Spring Bayou, downtown Tarpon Springs, and the Pinellas Trail are all within walking distance. The second unit may serve as guest, in-law, or rental accommodation, as described in the property information.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,729 square feet on a 0.11‑acre lot
- Private laundry and off‑street parking for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,182
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,640
$403.6K
Cap Rate 7%
$288,314
$288.3K
Cap Rate 9%
$224,244
$224.2K
Market Conditions
NOI Build-Up for 1,729 SF
Gross rent
$30.9K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.8K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.2K $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%
$403,640
Cap Rate 7%
$288,314
Cap Rate 9%
$224,244
Alternative Uses
Best Use
Multifamily LT 5
$288.3K
$252.3K – $336.4K
NOI $20,182 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$227.2K
$198.8K – $265.0K
NOI $15,902 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$449.7K
$393.5K – $524.7K
NOI $31,481 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 34689, FL
27,436
Population
14,193
Households
1.9
Avg Household Size
53
Median Age
32%
College-Educated
93%
High-School Grad
10.6 sq mi
ZIP Area
2,588
Density / Sq Mi
$66,523
Median Household Income
$45,294
Median Earnings
$1,207
Median Rent
$311,500
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 - Both residences have two bedrooms and one bath, plus separate laundry and off-street parking.
Where is this duplex located?
The property is located at 542 DIVISION Street Tarpon Springs, FL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,729 square feet on a 0.11‑acre lot; Private laundry and off‑street parking for each unit
