Two-Unit Renovated
New
For Sale
$499,000
616 HERITAGE Lane, Largo, FL 33770
Residential Income, LARGO, FL
Property Size2,292 SF
Lot Size0.20 Acres
Price / SF$217.71
Days on Market6
Property Features for 616 HERITAGE Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Dining Room, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
On Street, Driveway, Off Street
Patio and Porch features
Patio, Porch
Pets allowed
Yes
Interior features
Living Room/Dining Room Combo, Open Floorplan, Solid Surface Counters, Solid Wood Cabinets, Thermostat, Walk-In Closet(s)
Exterior features
Fence, Rain Gutters
Fencing
Fenced
Appliances
Dryer, Electric Water Heater, Range, Range Hood, Refrigerator, Washer
Subdivision
HERITAGE LANE
Lot features
Cul-De-Sac, Irregular Lot, Near Golf Course, Near Marina, Paved
Elementary school
Mildred Helms Elementary-PN
Middle school
Largo Middle-PN
High school
Largo High-PN
Directions
Traveling west on West Bay Drive. Make right onto Indian Rocks Road (towards Belleaire). At light turn right onto Mehlenbacher Road. Pass 20th Street and "Largo" sign, then Heritage Lane on right.
Standard status
Active
APN
33-29-15-38262-000-0080
Size
2,292 SF
Lot size
0.20 Acres
Additional Details
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 8, Heritage Lane, (north end of building) according to map or plat thereof as recorded in Plat Book 66 Page 28 of the Public Records of Pinellas County Florida -AND- Lot 8 (south end of building).
Tax Annual Amount
3434
Legal Description
Lot 8, Heritage Lane, (north end of building) according to map or plat thereof as recorded in Plat Book 66 Page 28 of the Public Records of Pinellas County Florida -AND- Lot 8 (south end of building).
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
fenced yard
screened porch
private patio
washer/dryer
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Tile, Hardwood
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
HOMECOIN.COM
Listed By:
Jonathan Minerick
(888) 400-2513
Added: Oct 22
Changed: Oct 27
Last Checked: Oct 27 at 9:06PM
MLS# TB8560700
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.
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Investment Insights
Based on property information with market context.
This 2,292-square-foot duplex on a 0.2-acre lot contains two residences, each with two bedrooms, one bathroom, and a one-car garage. Unit A has LVP flooring and a tiled bathroom floor; Unit B was renovated in 2024 and features LVP flooring, a tiled bathroom, and a zero-threshold shower. Each unit has a washer and dryer, while outdoor spaces include a fenced yard, a screened porch for Unit B, and a private patio for Unit A.
The building dates to 1972 and has block and stucco construction. A four-point inspection found the roof, electrical, plumbing, and HVAC systems passed; the roof had no leaks. Unit B’s HVAC system is one year old, and Unit A’s is eight years old. The property is in Flood Zone X, with separate electric service and a shared water and sewer line. Public water and sewer are available, and each unit has a deed.
The building dates to 1972 and has block and stucco construction. A four-point inspection found the roof, electrical, plumbing, and HVAC systems passed; the roof had no leaks. Unit B’s HVAC system is one year old, and Unit A’s is eight years old. The property is in Flood Zone X, with separate electric service and a shared water and sewer line. Public water and sewer are available, and each unit has a deed.
Key Highlights
- Two residences, each with 2 bedrooms, 1 bathroom, and a one‑car garage
- 2,292 square feet on a 0.2‑acre lot
- Unit B renovated in 2024; zero‑threshold shower and screened porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,753
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$535,060
$535.1K
Cap Rate 7%
$382,186
$382.2K
Cap Rate 9%
$297,256
$297.3K
Market Conditions
NOI Build-Up for 2,292 SF
Gross rent
$41.0K $17.88/SF
− Vacancy
−$2.8K −$1.21/SF
EGI
$38.2K $16.67/SF
− OpEx
−$11.5K −$5.00/SF
NOI
$26.8K $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%
$535,060
Cap Rate 7%
$382,186
Cap Rate 9%
$297,256
Alternative Uses
Best Use
Multifamily LT 5
$382.2K
$334.4K – $445.9K
NOI $26,753 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$301.1K
$263.5K – $351.3K
NOI $21,080 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$596.2K
$521.7K – $695.5K
NOI $41,732 @ 7.0% cap · market cap 8.36%
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
2,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 33770, FL
25,475
Population
13,417
Households
1.9
Avg Household Size
50
Median Age
26%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
4,899
Density / Sq Mi
$58,071
Median Household Income
$39,354
Median Earnings
$1,481
Median Rent
$245,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer two bedrooms, one bathroom, laundry, and separate outdoor living areas.
Where is this duplex located?
The property is located at 616 HERITAGE Lane Largo, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, 1 bathroom, and a one‑car garage; 2,292 square feet on a 0.2‑acre lot; Unit B renovated in 2024; zero‑threshold shower and screened porch
