2319 18th Ave SW · Largo, FL 33774

$395,000

4 bd · 2.0 ba · 1,416 sqft · MultiFamily public records · 74 Days on market

Built 1970 8,686 sqft lot Est $350k · 13% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.5/30.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• Livability +4.1/5.0
• 1% rule +3.6/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Under contract-accepting backup offers. Fantastic investment opportunity in the heart of Largo! This fully rented duplex features two spacious 2-bedroom, 1-bath units, each thoughtfully updated for low-maintenance ownership and strong rental appeal. Both units boast beautifully renovated kitchens with real wood cabinets, durable Formica countertops, and newer stainless steel appliances. Stylish ceramic tile flooring runs throughout, and the bathrooms have been completely updated as well. Fresh interior and exterior paint, updated electrical panels, a newer roof, and new A/C units make this a truly worry- free investment. Tenants love the location — just minutes to shopping, dining,

Key facts

• Fully rented duplex
• Newer roof
• Updated bathrooms

Tags

• FULLY RENTED DUPLEX
• UPDATED KITCHENS
• CERAMIC TILE FLOORING
• UPDATED BATHROOMS
• NEWER ROOF
• NEW A/C UNITS

Property features AI

Finance

• Other: Property designated as residential income; Total number of buildings: 1; Total acreage: 0 to less than 1/4 acre; Pets allowed
• Financial info: Gross income reported: $34,500; Annual net income reported: $27,484; Tenants pay electricity and water
• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer; Public utilities
• Home design: Duplex (residential income property); Single building with 2 units; Total living area about 1,416 square feet; Lot about 0.2 acres; Located in county
• Construction: Block and stucco construction; Shingle roof; Slab foundation
• Exterior features: Other exterior features

Interior

• Kitchen: Microwave; Range; Refrigerator
• Bedrooms: Four bedrooms total; Two 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry room (other)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $395k.

Deal economics

• At list price, monthly cash flow is $13 ($157/yr) — positive. Per door: $7/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $339k (14.3% below list).
• Recommended offer: $339k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.3% in Largo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, amenities F.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ridgecrest Elementary School (math 67% / reading 64%, grade B+, #500 of 2,144 statewide, top 24%, 574 students, 59% FRL); Seminole Middle School (math 55% / reading 53%, grade B-, #196 of 571 statewide, top 36%, 824 students, 49% FRL); Largo High School (math 30% / reading 50%, grade F, #296 of 667 statewide, top 45%, 2,055 students, 53% FRL).
• Market conditions: Rents rising (+2.0%/yr); 212 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• At $3,386/mo this rent would consume 51% of the median local household income ($79k/yr) (locally 546% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($371k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $24k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $248k; list at $395k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,600 (14.3% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.14%
• DSCR: 1.01
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $349,752
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1731 Gladys St	0.55mi	4/2.0	1,586 (+12%)	3mo	$391,000	$247	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.01% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.40×
• Total profit: $-66,502
• Equity at exit: $58,896

10-year hold

• IRR: -11.0%
• Equity multiple: 0.37×
• Total profit: $-70,230
• Equity at exit: $34,152

Cash invested: $110,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33774

• Rents YoY: 2.0%
• Active inventory: 212
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,386 high
• Mortgage (P&I): −$2,071
• Tax from tax record: −$426 /mo · $5,110/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$711
• Net cashflow: $13

Break-even live

Break-even rent $3,369

Max offer price $395,000

Occupancy floor 95%

Sensitivity live

Price	-10% $237	-5% $125	+0% $13	+5% $-99	+10% $-210
Rent	-10% $-254	-5% $-121	+0% $13	+5% $147	+10% $281
Rate	-1.0pp $212	-0.5pp $114	base $13	+0.5pp $-89	+1.0pp $-193

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,386
Total (2 units)			$3,386

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2402 Dryer Ave Largo, FL	3.0	2.0	1872	$3,000	$1.60	26d	1	0.09mi
2317 13th Ave SW Largo, FL	3.0	1.0	1189	$2,309	$1.94	18d	1	0.32mi
1884 Pine St Largo, FL	3.0	1.5	1012	$2,499	$2.47	23d	1	0.33mi
1830 30th Ln SW Largo, FL	3.0	2.0	1400	$2,725	$1.95	15d	1	0.49mi
1825 134th Ave Largo, FL	3.0	2.0	1005	$2,200	$2.19	26d	1	0.52mi
2316 Fulton Way Largo, FL	3.0	2.0	1209	$2,699	$2.23	6d	1	0.53mi
1635 Gladys St Unit 2 Largo, FL	3.0	1.0	1200	$2,000	$1.67	18d	1	0.54mi
1635 Gladys St Unit 2 Largo, FL	3.0	1.0	1194	$1,900	$1.59	9d	1	0.54mi
1665 134th Ave Largo, FL	3.0	1.0	1075	$875	$0.81	0d	1	0.58mi
13264 120th Ln Largo, FL	4.0	1.0	1050	$2,300	$2.19	9d	1	0.60mi
13264 120th Ln Largo, FL	4.0	1.0	1050	$2,700	$2.57	26d	1	0.60mi
2173 Gladys St Largo, FL	3.0	2.0	1071	$2,795	$2.61	0d	1	0.60mi
1031 Honeysuckle Rd Largo, FL	3.0	2.0	1382	$2,675	$1.94	19d	1	0.61mi
2503 Mary Sue St SW Largo, FL	3.0	2.0	1260	$2,211	$1.75	15d	1	0.61mi
11980 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	18d	3	0.61mi
11980 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	26d	1	0.61mi
11960 133rd Ave Unit 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	26d	1	0.62mi
11960 133rd Ave Apt 1 Largo, FL	3.0	1.0	936	$2,150	$2.30	0d	1	0.62mi
11960 133rd Ave Largo, FL	3.0	1.0	936	$2,150	$2.30	9d	1	0.62mi
11938 133rd Ave Largo, FL	3.0	1.0	1200	$2,150	$1.79	18d	1	0.63mi
11938 133rd Ave Apt 4 Largo, FL	3.0	1.0	1200	$2,150	$1.79	26d	1	0.63mi
3381 19th Pl SW Largo, FL	3.0	2.0	1770	$2,950	$1.67	26d	1	0.68mi
1767 10th St SW Largo, FL	4.0	2.0	1374	$2,995	$2.18	6d	1	0.75mi
13001 120th St Largo, FL	3.0	1.0	1044	$1,950	$1.87	9d	1	0.78mi
740 16th Ave SW Largo, FL	4.0	2.0	1346	$2,695	$2.00	18d	1	0.89mi
13250 Ridge Rd Largo, FL	2.0–3.0	2.0	1167	$2,090	$1.79	0d	2	0.90mi
908 N Palm Dr Largo, FL	3.0	2.0	1078	$2,305	$2.14	0d	1	0.92mi
910 9th Ave SW Largo, FL	3.0	2.0	1120	$2,100	$1.88	6d	1	0.93mi
11704 127th Ave Largo, FL	3.0	2.0	1311	$2,345	$1.79	6d	1	1.06mi
11786 126th Ter Largo, FL	4.0	2.0	1242	$2,650	$2.13	22d	1	1.07mi
11666 126th Ter Largo, FL	3.0	1.0	1056	$2,183	$2.07	26d	1	1.12mi
233 E Overbrook St Unit 1053145P Largo, FL	4.0	3.0	1840	$9,009	$4.90	23d	1	1.23mi
2242 Indian Ave S Belleair Bluffs, FL	3.0	2.0	1336	$2,800	$2.10	6d	1	1.27mi
11557 124th Ter Largo, FL	3.0	2.0	1601	$3,495	$2.18	19d	1	1.27mi
2141 Indian Ave S Belleair Bluffs, FL	3.0	2.0	1252	$2,999	$2.40	14d	1	1.30mi
310 15th Ave SW Largo, FL	3.0	2.0	1284	$2,800	$2.18	26d	1	1.31mi
2098 Seminole Blvd Largo, FL	1.0–3.0	1.0–2.0	1018	$2,895	$2.84	4d	23	1.35mi
12497 136th Ln Largo, FL	3.0	2.0	1350	$2,950	$2.19	26d	1	1.40mi
13584 Twig Ter Largo, FL	3.0	2.0	1278	$4,200	$3.29	6d	1	1.43mi

Listing history 8 events

1. 2026-03-24
   price $395,000
2. 2026-03-14
   listed $419,000 Active
3. 2025-09-03
   historical
4. 2025-07-07
   listed $419,900 Active
5. 2021-12-02
   soldstatus $247,500
6. 2021-12-02
   soldstatus $300,000
7. 1996-05-20
   soldstatus $48,000
8. 1984-06-01
   soldstatus $54,300

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $5,110 · $426/mo
• Projected year-2 tax: $5,110 · $426/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,632
• − Mortgage interest: −$22,126
• − Property taxes: −$5,110
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,251
• − Management: −$3,251
• − Depreciation: −$11,491
• Taxable loss: −$6,571
• Est. tax savings @ 24.0%: +$1,577
• After-tax cash flow: $1,734/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

Category grades

Amenities F Commute A+ Cost of living A+ Crime C Employment D+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 19,799
• Household income: $79,139
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 546.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 11% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Romanian 7% Lithuanian 4% Hispanic 2%
• Foreign-born: 8% · Canada
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -383.61%
• Current HPI: 336.629
• Rent YoY: ▲ 2.01%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+627.4% since first listed

8 events — show timeline

• 2026-03-24 Price Changed $395,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-14 Listed $419,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-03 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-07-07 Listed $419,900 Stellar MLS as Distributed by MLS Grid
• 2021-12-02 Sold (Public Records) $300,000 Public Records
• 2021-12-02 Sold (Public Records) $247,500 Public Records
• 1996-05-20 Sold (Public Records) $48,000 Public Records
• 1984-06-01 Sold (Public Records) $54,300 Public Records

Property tax history

+11.7%/yr

Latest (2025): $5,110 · +11.0% YoY. Source: county tax records.