Renovated Two-Unit
New
For Sale
$499,000
616 HERITAGE LANE #A&B, Largo, FL 33770
Each residence includes in-unit laundry, a garage, and private outdoor space.
Property Size2,292 SF
Price / SF$217.71
Days on Market6
Property Features for 616 HERITAGE LANE #A&B
General Information
Standard status
Active
Size
2,292 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Individually Metered Utilities
electricity
Additional Details
Utilities to Site
Yes
Amenities
washer/dryer
fenced yard
screened porch
private patio
0.2 acres, Dimensions: 39x120, Cul-De-Sac, Irregular Lot, Near Golf Course, Near Marina, Paved
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 33-29-15-38262-000-0080, Public Survey Range: 15, Public Survey Section: 33, Annual Amount: $3,434.27, Tax Book Number: 66-28, 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)., Lot: 8, Year: 2025
Ceramic Tile, Hardwood, Tile, Vinyl
2 spaces
Central Air
Central, Electric
In Garage
Listing ID: MFRTB8560700, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-10-24, 2 days on market, Special Conditions: None
Driveway, Ground Level, Off Street, On Street
Elementary School: Mildred Helms Elementary-PN, Middle School: Largo Middle-PN, High School: Largo High-PN
4 total bedrooms
Built in 1972, Living area: 2292, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco
Subdivision: HERITAGE LANE, MLS Area (Major): 33770 - Largo/Belleair Bluffs, County/Parish: Pinellas
Completed
2 total bathrooms
Street Lights
Cable Available, Cable Connected, Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public, 2 separate electric meters
Slab
Allowed: Yes
Electricity
Road Surface: Asphalt
Patio/Porch Features: Patio, Porch, Screened, Fence, Rain Gutters
Living Room/Dining Room Combo, Open Floorplan, Solid Surface Counters, Solid Wood Cabinets, Thermostat, Walk-In Closet(s)
Dryer, Electric Water Heater, Range, Range Hood, Refrigerator, Washer
Building Details
Year Built
1972
Listing Agency:
HOMECOIN.COM
Listed By:
Jonathan Minerick · License #3477996
(888) 400-2513
Source:
Miharaandassociates
Added: Oct 24
Changed: Oct 29
Last Checked: Oct 28 at 8:17AM
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 HOMECOIN.COM
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Investment Insights
Based on property information with market context.
This 2,292-square-foot duplex, built in 1972, contains two residences, each with 2 bedrooms, 1 bathroom, a garage, and a washer and dryer. Both units have LVP flooring and tiled bathroom floors. Unit B has a zero-threshold shower and a kitchen remodeled in 2026 with soft-close wood Shaker cabinets and butcher block countertops. Outdoor features include a large fenced yard, a screened porch for Unit B, and a private patio for Unit A.
The property is about 10 minutes from the beach, with a boat ramp closer by. Shopping, restaurants, and the Pinellas Trail are a few blocks away. The duplex is in Flood Zone X and has a shared water and sewer line, separate electric service, and a deed for each unit. A four-point inspection found the roof in good condition with no leaks, and the electrical, plumbing, and HVAC systems passed. Unit B’s HVAC is 1 year old; Unit A’s is 8 years old.
The property is about 10 minutes from the beach, with a boat ramp closer by. Shopping, restaurants, and the Pinellas Trail are a few blocks away. The duplex is in Flood Zone X and has a shared water and sewer line, separate electric service, and a deed for each unit. A four-point inspection found the roof in good condition with no leaks, and the electrical, plumbing, and HVAC systems passed. Unit B’s HVAC is 1 year old; Unit A’s is 8 years old.
Key Highlights
- 2,292‑square‑foot duplex built in 1972
- Two 2‑bedroom, 1‑bathroom residences, each with a garage and washer/dryer
- Unit B renovated in 2024; kitchen remodel in 2026 with Shaker cabinets and butcher block countertops
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
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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 - Each residence includes in-unit laundry, a garage, and private outdoor space.
Where is this duplex located?
The property is located at 616 HERITAGE LANE #A&B 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: 2,292‑square‑foot duplex built in 1972; Two 2‑bedroom, 1‑bathroom residences, each with a garage and washer/dryer; Unit B renovated in 2024; kitchen remodel in 2026 with Shaker cabinets and butcher block countertops
