Residential Income
For Sale
$444,000
Pending
914 LAKE PALMS DRIVE, Largo, FL 33771
The 1973 property includes central air, central heating, a range, a refrigerator, and a parking pad.
Property Size2,010 SF
Days on Market187
Property Features for 914 LAKE PALMS DRIVE
General Information
Standard status
Pending
Size
2,010 SF
Property subtype
Residential Income
Zoning
RES
Taxes and HOA fees
Annual Taxes
$5,238
Amenities
Central Air
Central
Range, Refrigerator
Parking Pad
Other
Building Details
Building Size
2,010 SF
Year Built
1973
Listing Agency:
CENTURY 21 RE CHAMPIONS
Listed By:
Kathryn Larkin · License #680392
(727) 709-0378
Source:
Evrealestate
Added: Mar 30
Changed: Sep 27
Last Checked: Oct 1 at 11:17AM
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 CENTURY 21 RE CHAMPIONS
Investment Insights
Based on property information with market context.
This residential income property was built in 1973 and contains 1,846 square feet. Interior features include central air conditioning and central heating, along with a range and refrigerator. A parking pad provides on-site vehicle space.
The property is at 914 Lake Palms Drive in Largo, Florida. Access directions reference East Bay Drive, Fulton Street, Lake Avenue Southeast, and Lake Palms Drive.
The property is at 914 Lake Palms Drive in Largo, Florida. Access directions reference East Bay Drive, Fulton Street, Lake Avenue Southeast, and Lake Palms Drive.
Key Highlights
- 1,846‑square‑foot residential income property
- Built in 1973
- Central air conditioning and central heating
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
$16,978
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
3.82%
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%
$339,560
$339.6K
Cap Rate 7%
$242,543
$242.5K
Cap Rate 9%
$188,644
$188.6K
Market Conditions
NOI Build-Up for 1,846 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
$33.2K $18.00/SF
− Vacancy
−$2.4K −$1.28/SF
EGI
$30.9K $16.72/SF
− OpEx
−$13.9K −$7.52/SF
NOI
$17.0K $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%
$339,560
Cap Rate 7%
$242,543
Cap Rate 9%
$188,644
Alternative Uses
Best Use
Apartment 5plus
$242.5K
$212.2K – $283.0K
NOI $16,978 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$480.2K
$420.1K – $560.2K
NOI $33,611 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The 1973 property includes central air, central heating, a range, a refrigerator, and a parking pad.
Where is this residential income property located?
The property is located at 914 LAKE PALMS DRIVE Largo, FL.
What is the asking price?
The asking price for this property is $444,000.
What are key features of this property?
This property features: 1,846‑square‑foot residential income property; Built in 1973; Central air conditioning and central heating
