Bahama Bay Resort
For Sale
$160,000
Pending
307 NEW PROVIDENCE PROMENADE 0, Davenport, FL 33897
Fully furnished 2-bedroom, 2-bath condo in resort community.
Property Size1,173 SF
Lot Size0.02 Acres
Days on Market152
Property Features for 307 NEW PROVIDENCE PROMENADE 0
General Information
Standard status
Pending
Size
1,173 SF
Lot size
0.02 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$2,137
Building Details
Building Size
1,173 SF
Year Built
2004
Stories
3
Listing Agency:
Direct Sell Inc DBA Weichert Realtors Hallmark Properties
(216) 407-6788
Listed By:
Diego Francisco · License #3474552
(216) 407-6788
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 9 at 10:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Direct Sell Inc DBA Weichert Realtors Hallmark Properties
Investment Insights
Based on property information with market context.
This fully furnished, well-maintained 2-bedroom, 2-bath condo is located on the second floor of the Bahama Bay Resort, a gated community with 24/7 security and a 24-hour front desk reception. The resort is situated near Disney World, Animal Kingdom, and other attractions, with convenient access to Highway 192 and I-4, as well as nearby shopping centers, golfing, parks, dining, and hospitals. The building is conveniently located near the Tradewinds restaurant. Amenities include four pools, a clubhouse, a fitness center, picnic areas, a playground, a tennis court, pickle ball, a day spa, a beachside bar and restaurant, a fishing pier, shuffleboard, a marketplace, pool tables, and a splash pad. This property is currently managed by the onsite property management company (Vacasa), but owners have the option to manage the condo themselves and obtain their own data.
Key Highlights
- Fully furnished 2‑bedroom, 2‑bath condo, ready for immediate use or rental.
- Located in Bahama Bay Resort, a gated community with 24/7 security and front desk reception.
- Extensive resort amenities including 4 pools, fitness center, spa, restaurants, and recreational facilities.
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
$11,111
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
6.94%
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%
$222,220
$222.2K
Cap Rate 7%
$158,729
$158.7K
Cap Rate 9%
$123,456
$123.5K
Market Conditions
NOI Build-Up for 1,173 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
$21.5K $18.36/SF
− Vacancy
−$1.3K −$1.14/SF
EGI
$20.2K $17.22/SF
− OpEx
−$9.1K −$7.75/SF
NOI
$11.1K $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%
$222,220
Cap Rate 7%
$158,729
Cap Rate 9%
$123,456
Alternative Uses
Best Use
Apartment 5plus
$158.7K
$138.9K – $185.2K
NOI $11,111 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.9K
$246.7K – $328.9K
NOI $19,732 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 33897, FL
25,352
Population
13,291
Households
1.9
Avg Household Size
38
Median Age
28%
College-Educated
94%
High-School Grad
41.8 sq mi
ZIP Area
607
Density / Sq Mi
$73,457
Median Household Income
$36,154
Median Earnings
$1,880
Median Rent
$279,100
Median Home Value
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?
Short term rental property - Fully furnished 2-bedroom, 2-bath condo in resort community.
Where is this short term rental property located?
The property is located at 307 NEW PROVIDENCE PROMENADE 0 Davenport, FL.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Fully furnished 2‑bedroom, 2‑bath condo, ready for immediate use or rental.; Located in Bahama Bay Resort, a gated community with 24/7 security and front desk reception.; Extensive resort amenities including 4 pools, fitness center, spa, restaurants, and recreational facilities.
