1231 Illinois Ave
44.5 · Fair
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1231 Illinois Ave

Palm Harbor · Pinellas County · FL 34683

duplex1 days on market

Property Details

List Price$620,000
Bedrooms6
Bathrooms4
Living Area1,820 sqft
Lot Size5,663 sqft
Year Built1985
Listed2026-05-02

Investment Estimate

Est. Monthly Rent$5,797/mo
Est. Cap Rate11.22%
Gross Rent Multiplier8.9

Description

Prime Downtown Palm Harbor Duplex Property: Each unit: 3 beds, 2 full baths, attached garages. Condition Excellent: New roof (2024). new hot water heater (2026) newer A/C 2020 One unit fully updated and vacant - ready for immediate occupancy and rent increase to $2,400+/month. Income potential: Unit A (updated renovated, vacant) - $2,500+ Unit B at this time on month to month at $1,800 month. Parking for 6 cars. Highlights: Walkable or Golfcart downtown location with shops, restaurants, and marina access Strong rental demand in Palm Harbor; popular with professionals and small families Low-maintenance recent roof replacement (2025)plus much more Separate garages and full 3BR / 2 full bath layouts in both units "*Freshly renovated unit - move-in ready" Charming downtown with boutique shops, cafes, and waterfront parks. Close to the Pinellas Trail, local marinas, and easy access to major roads for Tampa/St. Pete commutes. Attracts renters seeking small-town coastal lifestyle with nearby amenities and good schools.

Source: realtor.com · ID: pinellas-realtor-9930016199 · Last seen: 5/3/2026

Score Breakdown

Composite score:44.5/ 100

Each factor is normalized 0–100 within its county (percentile rank). Contributions show how many points each factor added to the composite score.

Cap Rate(weight 35%)
77.0contributes +27.0 pts

Estimated annual rent yield relative to list price, normalized within county.

Population Growth(weight 20%)
50.0contributes +10.0 pts

Zip-level YoY population growth from Census ACS estimates.

Employment Growth(weight 15%)
50.0contributes +7.5 pts

Metro-level employment and wage growth from BLS QCEW data.

Price Trend(weight 15%)
0.0contributes +0.0 pts

Zip-level YoY median sale price change from Redfin Data Center.

Flood Penalty(weight 15%)
0.0contributes +0.0 pts

FEMA NFHL flood zone severity. Lower is better (0 = no risk, 100 = high risk).

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