Hurricane-Hardened
For Sale
$349,900
10934 WENDOVER Drive, Palmetto, FL 34221
Residential, PALMETTO, FL
Property Size1,582 SF
Lot Size0.11 Acres
Price / SF$221.18
Days on Market243
Property Features for 10934 WENDOVER Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RES
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Family Room, Dining Room, Bedroom 2, Bathroom 2, Bonus Room
Security features
Security System
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Smart Home, Solid Wood Cabinets, Split Bedroom, Stone Counters, Thermostat, Walk-In Closet(s)
Exterior features
Rain Gutters, Sidewalk, Sliding Doors
Appliances
Convection Oven, Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
ARTISAN LAKES ESPLANADE PH IV SUBPH A,B,
Lot features
In County, Sidewalk, Paved, Unincorporated
Elementary school
James Tillman Elementary
Middle school
Buffalo Creek Middle
High school
Palmetto High
Directions
From I75 take exit 229 heading west on Moccasin Wallow Road then turn right onto Artisan Lakes Pkwy then turn left onto Cobble Park Place then turn right onto Craftsman Park Way then turn left onto Wicker Park Place then turn right onto Morey Farms Loop then turn right onto Wendover Drive. The home will be on the left.
Standard status
Active
APN
610960559
Size
1,582 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 211, ARTISAN LAKES ESPLANADE PH IV SUBPH A, B, C, & D PI #6109.6055/9
Tax Annual Amount
4610
Legal Description
LOT 211, ARTISAN LAKES ESPLANADE PH IV SUBPH A, B, C, & D PI #6109.6055/9
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2021
Floors in Building
1
Flooring type
Tile, Carpet, Vinyl
Building materials
Block
Roof type
Tile
Architectural style
Other
Listing Agency:
KELLER WILLIAMS ON THE WATER S · Keller Williams Realty
(941) 803-7522
Listed By:
Oday Marogi
(586) 623-0401
Added: Jan 23
Changed: Sep 12
Last Checked: Sep 23 at 1:06AM
MLS# A4679204
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,582-square-foot duplex residence was built in 2021 with block construction, a tile roof, and hurricane-hardened features. The interior includes two bedrooms, three bathrooms, a bonus room, and an open arrangement connecting the kitchen, family room, living room, and dining area. The kitchen is equipped with double ovens, stone counters, solid wood cabinets, and an eat-in area. Smart-home features include a thermostat, while the primary bedroom is located on the main floor.
The 0.11-acre property is in a no-flood zone and includes a patio, sliding doors, rain gutters, and a sidewalk. Public water and public sewer serve the residence. HOA services include roof coverage, exterior painting, lawn maintenance, and additional exterior services.
The 0.11-acre property is in a no-flood zone and includes a patio, sliding doors, rain gutters, and a sidewalk. Public water and public sewer serve the residence. HOA services include roof coverage, exterior painting, lawn maintenance, and additional exterior services.
Key Highlights
- 1,582 square feet on a 0.11‑acre lot
- Built in 2021 with block construction and hurricane‑hardened features
- Two bedrooms, three bathrooms, and a bonus room
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
$20,782
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
5.94%
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%
$415,640
$415.6K
Cap Rate 7%
$296,886
$296.9K
Cap Rate 9%
$230,911
$230.9K
Market Conditions
NOI Build-Up for 1,582 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
$31.3K $19.80/SF
− Vacancy
−$1.6K −$1.03/SF
EGI
$29.7K $18.77/SF
− OpEx
−$8.9K −$5.63/SF
NOI
$20.8K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$415,640
Cap Rate 7%
$296,886
Cap Rate 9%
$230,911
Alternative Uses
Best Use
Multifamily LT 5
$296.9K
$259.8K – $346.4K
NOI $20,782 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$273.5K
$239.3K – $319.0K
NOI $19,142 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$465.2K
$407.1K – $542.8K
NOI $32,565 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 34221, FL
48,082
Population
24,812
Households
1.9
Avg Household Size
45
Median Age
28%
College-Educated
91%
High-School Grad
53.9 sq mi
ZIP Area
892
Density / Sq Mi
$74,314
Median Household Income
$40,072
Median Earnings
$1,459
Median Rent
$298,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Block-built residence with smart-home features, an open floor plan, and community-maintained exterior components.
Where is this duplex located?
The property is located at 10934 WENDOVER Drive Palmetto, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1,582 square feet on a 0.11‑acre lot; Built in 2021 with block construction and hurricane‑hardened features; Two bedrooms, three bathrooms, and a bonus room
