Condominium Income
New
For Sale
$390,000
714 1ST SW, Largo, FL 33770
Open-plan condominium with large windows and a functional kitchen offering ample storage and counter space.
Property Size1,880 SF
Days on Market3
Property Features for 714 1ST SW
General Information
Standard status
Active
Size
1,880 SF
Property subtype
Investment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,475
Building Details
Building Size
1,880 SF
Year Built
1953
Units
3
Listing Agency:
beycome
Listed By:
Steven Koleno · License #3469487
(804) 656-5007
Source:
Elliman
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:32AM
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 beycome
Investment Insights
Based on property information with market context.
This condominium income property in Largo, Florida, offers an open-plan interior designed around connected living areas. Large windows bring natural light into the rooms, while the kitchen provides substantial storage and counter space for everyday use. The property was built in 1953 and is presented as a private residence within a community setting.
Walkability and bicycle access are notable characteristics of the surrounding area. The property has a bike score of 79, categorized as Very Bikeable, a walk score of 62, categorized as Somewhat Walkable, and a transit score of 33, categorized as Some Transit.
Walkability and bicycle access are notable characteristics of the surrounding area. The property has a bike score of 79, categorized as Very Bikeable, a walk score of 62, categorized as Somewhat Walkable, and a transit score of 33, categorized as Some Transit.
Key Highlights
- Condominium income property in Largo, FL
- Open‑concept interior layout
- Large windows provide abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,291
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,820
$345.8K
Cap Rate 7%
$247,014
$247.0K
Cap Rate 9%
$192,122
$192.1K
Market Conditions
NOI Build-Up for 1,880 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.8K $18.00/SF
− Vacancy
−$2.4K −$1.28/SF
EGI
$31.4K $16.72/SF
− OpEx
−$14.1K −$7.52/SF
NOI
$17.3K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$345,820
Cap Rate 7%
$247,014
Cap Rate 9%
$192,122
Alternative Uses
Best Use
Apartment 5plus
$247.0K
$216.1K – $288.2K
NOI $17,291 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$489.0K
$427.9K – $570.5K
NOI $34,230 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,202
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan condominium with large windows and a functional kitchen offering ample storage and counter space.
Where is this residential income property located?
The property is located at 714 1ST SW Largo, FL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Condominium income property in Largo, FL; Open‑concept interior layout; Large windows provide abundant natural light
