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About this home
118 Lake Ave SE is a 1973-built home in Lake Palms Sec 4, Largo. Inside you'll find 5 bedrooms, 2 bathrooms, and 1,718 square feet of living space. Listed at $399,000 (about $232/sqft), 172 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
Back on the market because financing fell through. Duplex in excellent condition. Tenants in #A have been there for approximately 10 years. Tenant in #B was there for 28 years and has just bought a house. That unit is the 3 bedroom 1 bath and is now vacant. Tenant in #A unit was on a yearly lease which was up in Oct. #A is now on a month to month lease. Terrific tenants who would like to stay. Separate water meters, separate electric meters, separate water heaters, separate HVAC, separate washer & dryer hookups. Huge Lot approximately 70X203. Plenty of parking. Freshly painted one story block building with tile floors. 4 Point inspections were done April 24/2024 and are attached in the MLS. Please keep in mind that these are long term tenants and are on discounted rents The rents could easily be raised by $200/Month per unit to market rates or $400 total, for an additional $4800 per year. Pictures of #B were taken before the tenant moved out.
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Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$399,000
$232 per sq ft
Beds and baths
5 beds, 2 baths
Size
1,718 sq ft
Time on market
172 days
Year built
1973
Monthly payment
About $2,755/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $5,696 annual tax bill, insurance.
Flood zone
Zone X
That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.
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