Income Property with In-Law
For Sale
$480,000
Pending
1075 8TH NW STREET, Winter Haven, FL 33881
4-bedroom property with two in-law suites and a pool.
Property Size1,985 SF
Days on Market575
Property Features for 1075 8TH NW STREET
General Information
Standard status
Pending
Size
1,985 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,084
Building Details
Year Built
1956
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Karen Corea Cuadra · License #3607712
(863) 333-1686
Source:
Exitrealty
Added: Feb 15, 2025
Changed: Sep 10
Last Checked: Sep 12 at 4:31AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This income-generating property features a 4-bedroom, 3-bathroom layout, including a 2-bedroom, 1-bathroom main house and two separate in-law suites, each with private entrances. The main house includes two bedrooms, a full bathroom, and a living area. The first in-law suite is a self-contained studio with a private bathroom, kitchenette with an electric stovetop and refrigerator, and a separate entrance. The second in-law suite is a one-bedroom unit with a private bathroom, kitchenette with a microwave and electric hot plate, refrigerator, and its own entrance. The property has a newer roof (4 years old), gutters, PEX piping, electric main panel and sub-panels, windows and exterior doors, appliances, and a storage shed mounted to a concrete slab in the back yard. Professional plans have been drafted for a 2-bedroom, 1-bath auxiliary dwelling unit designed to fit in the oversized back yard. The property is located in Winter Haven, FL.
Key Highlights
- Income‑generating property with two separate in‑law suites, each with private entrances.
- Huge lot with potential for an Auxiliary Dwelling Unit (ADU) - professional plans drafted.
- Recently updated mechanically: roof (4 years old), PEX piping, electric panels, windows, and exterior doors.
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
$18,802
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
3.92%
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%
$376,040
$376.0K
Cap Rate 7%
$268,600
$268.6K
Cap Rate 9%
$208,911
$208.9K
Market Conditions
NOI Build-Up for 1,985 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
$36.4K $18.36/SF
− Vacancy
−$2.3K −$1.14/SF
EGI
$34.2K $17.22/SF
− OpEx
−$15.4K −$7.75/SF
NOI
$18.8K $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%
$376,040
Cap Rate 7%
$268,600
Cap Rate 9%
$208,911
Alternative Uses
Best Use
Apartment 5plus
$268.6K
$235.0K – $313.4K
NOI $18,802 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$477.0K
$417.4K – $556.5K
NOI $33,391 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Explore this area
Business Placement
Demographics for 33881, FL
38,369
Population
17,948
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
85%
High-School Grad
21.9 sq mi
ZIP Area
1,752
Density / Sq Mi
$53,867
Median Household Income
$33,941
Median Earnings
$1,153
Median Rent
$177,400
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - 4-bedroom property with two in-law suites and a pool.
Where is this multifamily property located?
The property is located at 1075 8TH NW STREET Winter Haven, FL.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Income‑generating property with two separate in‑law suites, each with private entrances.; Huge lot with potential for an Auxiliary Dwelling Unit (ADU) - professional plans drafted.; Recently updated mechanically: roof (4 years old), PEX piping, electric panels, windows, and exterior doors.
