Renovated Two-Unit
For Sale
$499,000
616 Heritage Lane Unit A&B, Largo, FL 33770
Each residence has a private garage and washer/dryer, with a screened porch or patio for outdoor use.
Property Size2,292 SF
Price / SF$217.71
Days on Market8
Property Features for 616 Heritage Lane Unit A&B
General Information
Standard status
Active
Size
2,292 SF
Total Parking Spaces
2
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity
Additional Details
Utilities to Site
Yes
Amenities
fenced yard
screened porch
private patio
washer/dryer
Building Details
Year Built
1972
Buildings
1
Listing Agency:
HOMECOIN.COM
Listed By:
Jonathan Minerick · License #01523060
(888) 100-2513
Source:
Realtygroupfl
Added: Oct 22
Changed: Oct 28
Last Checked: Oct 28 at 8:33AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 washer/dryer. 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; its kitchen remodel is dated 2026 and includes Shaker wood cabinets with soft-close hardware and butcher block counters. A fenced yard serves the property, with a screened porch at Unit B and a private patio at Unit A.
The units have separate electric service and share a water and sewer line. Each unit has its own deed. 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 in Flood Zone X, about 10 minutes from the beach, with a boat ramp closer by. Shopping, restaurants, and the Pinellas Trail are a few blocks away.
The units have separate electric service and share a water and sewer line. Each unit has its own deed. 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 in Flood Zone X, about 10 minutes from the beach, with a boat ramp closer by. Shopping, restaurants, and the Pinellas Trail are a few blocks away.
Key Highlights
- Two residences, each with 2 bedrooms, 1 bathroom, a garage, and washer/dryer
- 2,292 square feet; built in 1972
- Unit B renovated in 2024; 2026 kitchen remodel with soft‑close wood 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.
How Realmo checks its estimates
Property Analytics
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a private garage and washer/dryer, with a screened porch or patio for outdoor use.
Where is this duplex located?
The property is located at 616 Heritage Lane Unit 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: Two residences, each with 2 bedrooms, 1 bathroom, a garage, and washer/dryer; 2,292 square feet; built in 1972; Unit B renovated in 2024; 2026 kitchen remodel with soft‑close wood Shaker cabinets and butcher block countertops
