Income-Producing Zephyrhills
For Sale
$380,000
38313 TUCKER Rd, Zephyrhills, FL 33542
Well-maintained property with three units near shopping and dining.
Property Size1,924 SF
Days on Market137
Property Features for 38313 TUCKER Rd
General Information
Standard status
Active
Size
1,924 SF
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$2,613
Building Details
Building Size
1,924 SF
Year Built
1969
Listing Agency:
DENNIS REALTY & INV. CORP.
(813) 300-9511
Listed By:
Cynthia Stratton · License #701742
(813) 300-9511
Source:
Elliman
Added: Mar 29
Changed: Aug 8
Last Checked: Aug 11 at 10:50AM
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 DENNIS REALTY & INV. CORP.
Investment Insights
Based on property information with market context.
Located at 38313 Tucker Rd in Zephyrhills, this income-producing property features three units: a duplex and a separate mobile home. Unit 1 is a 1-bedroom, 1-bathroom duplex unit with tile flooring, an updated kitchen with stainless steel refrigerator, white shaker cabinetry, granite countertops, tile backsplash, and a flat-top range. The bathroom also has granite finishes. Two window A/C units provide cooling. Unit 2 is a 2-bedroom, 1-bathroom unit with a flex office space. It features fresh interior paint, a mix of laminate and tile flooring, an upgraded kitchen with tile backsplash, and central A/C. This unit also includes access to a private storage shed. The mobile home unit has 2 bedrooms and 1 bathroom, featuring a bright, open living area, laminate flooring, and a functional kitchen with ample cabinetry. It is equipped with a wall A/C unit and mini-split system, plus garage access for additional storage. The property is fully fenced and offers ample on-site parking in a quiet residential setting. It is located minutes from shopping, dining, medical facilities, and Zephyr Park, with access to Gall Blvd, SR-54, and US-301. Owner covers well electricity, lawn care, and trash service; tenants pay their own electric.
Key Highlights
- Income‑producing property featuring three separate units (duplex and mobile home).
- Updated kitchens in Units 1 & 2 boast stainless steel appliances, granite countertops, and tile backsplash.
- Unit 2 offers central A/C, fresh paint, and a flex office space.
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
$22,458
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
5.91%
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%
$449,160
$449.2K
Cap Rate 7%
$320,829
$320.8K
Cap Rate 9%
$249,533
$249.5K
Market Conditions
NOI Build-Up for 1,924 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
$34.4K $17.88/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$32.1K $16.67/SF
− OpEx
−$9.6K −$5.00/SF
NOI
$22.5K $11.67/SF
Area
Pasco County, FL
Vacancy
6.74%
Lease Rate
$17.88 /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%
$449,160
Cap Rate 7%
$320,829
Cap Rate 9%
$249,533
Alternative Uses
Best Use
Multifamily LT 5
$320.8K
$280.7K – $374.3K
NOI $22,458 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$252.8K
$221.2K – $294.9K
NOI $17,695 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$438.3K
$383.5K – $511.3K
NOI $30,679 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 33542, FL
22,649
Population
13,600
Households
1.7
Avg Household Size
54
Median Age
16%
College-Educated
89%
High-School Grad
10.4 sq mi
ZIP Area
2,178
Density / Sq Mi
$49,011
Median Household Income
$34,267
Median Earnings
$1,049
Median Rent
$129,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Well-maintained property with three units near shopping and dining.
Where is this multifamily property located?
The property is located at 38313 TUCKER Rd Zephyrhills, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Income‑producing property featuring three separate units (duplex and mobile home).; Updated kitchens in Units 1 & 2 boast stainless steel appliances, granite countertops, and tile backsplash.; Unit 2 offers central A/C, fresh paint, and a flex office space.
