Three-Story Eight-Unit Apartment
For Sale
$4,654,000
183 PEGASUS Street, Davenport, FL 33837
Residential Income, DAVENPORT, FL
Property Size17,600 SF
Lot Size0.05 Acres
Price / SF$264.43
Days on Market96
Property Features for 183 PEGASUS Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Bedrooms
42
Bathrooms
40
Full bathrooms
40
Rooms
Bedroom 4, Bedroom 25, Bathroom 21, Bedroom 20, Bedroom 21, Bedroom 34, Bathroom 13, Bathroom 40, Bedroom 32, Bathroom 28, Bedroom 42, Bedroom 8, Bathroom 12, Bathroom 15, Bedroom 19, Bedroom 31, Bedroom 23, Bathroom 36, Bathroom 25, Bedroom 11, Bathroom 38, Bedroom 15, Bedroom 33, Bedroom 39, Bathroom 26, Bedroom 26, Bathroom 34, Bathroom 23, Bathroom 18, Bathroom 6, Bathroom 16, Bedroom 6, Bathroom 9, Bathroom 7, Bathroom 32, Bathroom 8, Bathroom 10, Bedroom 30, Bedroom 28, Bathroom 30, Bathroom 39, Bathroom 31, Laundry Room, Bathroom 4, Bathroom 11, Bedroom 40, Bedroom 9, Bathroom 35, Bedroom 37, Family Room, Bathroom 24, Bathroom 37, Bathroom 33, Bedroom 38, Dining Room, Bathroom 17, Bathroom 27, Bedroom 7, Bathroom 2, Bedroom 16, Bedroom 1, Bathroom 20, Bedroom 29, Bathroom 3, Bathroom 14, Bathroom 22, Bedroom 27, Bedroom 17, Bedroom 3, Bathroom 29, Bedroom 35, Bedroom 24, Bedroom 14, Bathroom 19, Bedroom 41, Bedroom 2, Bedroom 12, Bedroom 18, Bathroom 5, Bedroom 5, Bedroom 22, Bathroom 1, Bedroom 10, Bedroom 13, Bedroom 36
Parking features
Guest, Open
Patio and Porch features
Patio
Pets allowed
Dogs OK, Cats OK
Pool private
1
Interior features
Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, PrimaryBedroom Upstairs, Solid Surface Counters, Solid Wood Cabinets, Stone Counters, Thermostat, Walk-In Closet(s)
Exterior features
Lighting, Sidewalk
Appliances
Cooktop, Dishwasher, Disposal, Electric Water Heater, Microwave, Range, Refrigerator
Subdivision
POSNER RESERVE PH 1D
Lot features
City Limits, Landscaped, Near Public Transit
Directions
From I 4 East take exit 55, make a right on HWY 27 and a left inside Posner Park on Posner Blvd, turn right onto Grandview Pkwy, make a left on Pegasus St, the Model home it's on 107 Pegasus St
Standard status
Active
APN
27-26-17-704407-000340
Size
17,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POSNER RESERVE PHASE 1D PB 203 PGS 35-40 LOT 44
Tax Annual Amount
834
Legal Description
POSNER RESERVE PHASE 1D PB 203 PGS 35-40 LOT 44
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
clubhouse
resort-style pool
cabanas
tennis and basketball courts
playground
picnic areas
Building Details
Year built
2026
Floors in Building
3
Flooring type
Tile - Ceramic, Carpet
Building materials
Block, Stucco, Frame
Roof type
Shingle
Listing Agency:
STOCKWORTH REALTY GROUP
(407) 909-5900
Listed By:
Maria Quintero · License #3210266
(407) 509-0849
Added: Jun 10
Changed: Sep 13
Last Checked: Sep 13 at 7:06AM
MLS# O6415577
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.
Under construction for completion in 2026, this three-story apartment property contains eight townhome-style units with open-plan living areas, eat-in kitchens, solid wood cabinetry, stone or solid-surface counters, walk-in closets, and private patios. Interior finishes include ceramic tile and carpet, while central heating and air conditioning serve the residences. Public water and sewer are provided, with open and guest parking available.
The property is located in Davenport, approximately 18 minutes from Disney’s Magic Kingdom and less than an hour from Orlando International Airport. Residents and guests have access to a clubhouse, resort-style pool, cabanas, tennis and basketball courts, a playground, and picnic areas. The surrounding setting includes shopping, dining, and entertainment destinations, with sidewalks and cable availability also identified for the property.
The property is located in Davenport, approximately 18 minutes from Disney’s Magic Kingdom and less than an hour from Orlando International Airport. Residents and guests have access to a clubhouse, resort-style pool, cabanas, tennis and basketball courts, a playground, and picnic areas. The surrounding setting includes shopping, dining, and entertainment destinations, with sidewalks and cable availability also identified for the property.
Key Highlights
- Eight townhome‑style apartment units in a three‑story building
- Under construction with a 2026 year built
- Located approximately 18 minutes from Disney’s Magic Kingdom
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
$166,706
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
3.58%
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%
$3,334,120
$3.3M
Cap Rate 7%
$2,381,514
$2.4M
Cap Rate 9%
$1,852,289
$1.9M
Market Conditions
NOI Build-Up for 17,600 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
$323.1K $18.36/SF
− Vacancy
−$20.0K −$1.14/SF
EGI
$303.1K $17.22/SF
− OpEx
−$136.4K −$7.75/SF
NOI
$166.7K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /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%
$3,334,120
Cap Rate 7%
$2,381,514
Cap Rate 9%
$1,852,289
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.78M
NOI $166,706 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.23M
$3.70M – $4.93M
NOI $296,060 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 33837, FL
36,302
Population
19,082
Households
1.9
Avg Household Size
40
Median Age
27%
College-Educated
90%
High-School Grad
51.3 sq mi
ZIP Area
708
Density / Sq Mi
$75,861
Median Household Income
$39,246
Median Earnings
$1,739
Median Rent
$297,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - New construction offers townhome-style residences with contemporary interiors and access to a broad resort-oriented amenity package.
Where is this apartment building located?
The property is located at 183 PEGASUS Street Davenport, FL.
What is the asking price?
The asking price for this property is $4,654,000.
What are key features of this property?
This property features: Eight townhome‑style apartment units in a three‑story building; Under construction with a 2026 year built; Located approximately 18 minutes from Disney’s Magic Kingdom
