Six-Unit Residential Income
608 DUNDEE Rd Dundee, FL 33838
For Sale
$724,900
Income-producing property with strong cash flow in a growing town.
Property Size3,515 SF
Lot Size0.33 Acres
Price / SF$206.23
Days on Market96
Property Features for 608 DUNDEE Rd
General Information
Standard status
Active
Size
3,515 SF
Lot size
0.33 Acres
Property subtype
Investment
Building Details
Year Built
1986
Listing Agency:
(863) 207-4722
Listed By:
Kennedy Matthews · License #525519
(863) 207-4722
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 23 at 8:06AM
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 Kennedy Matthews
Investment Insights
Based on property information with market context.
This six-unit residential income property is located on Dundee Road. The property features two buildings: a duplex with 1,384 heated square feet and a quadruplex with 2,131 heated square feet, situated on over 1/3 of an acre with ample parking. The duplex includes a two-bedroom, one-bathroom unit currently leased, and a recently updated three-bedroom, one-bathroom unit with fresh paint, wood-laminate flooring, and stainless-steel appliances. The quadruplex is a two-story concrete-block building with a new metal roof. The two upstairs units have upgraded wood-laminate flooring and kitchenettes with granite countertops and are currently leased to the same tenant. The two downstairs units are currently leased on five-year leases; one includes an Ansul system and a grease trap. Both buildings have fresh exterior paint. Each building has its own septic system and individual water meter, along with six separate electrical meters, one per unit. Five units have newer mini-split A/C systems, while the duplex's three-bedroom unit features central heat and air conditioning. The duplex was originally built in 1925 with an effective year of 1992, and the quadruplex was built in 1986 with an effective year of 2000. The property is near downtown Dundee and Highway 27, providing access to Winter Haven, Lake Wales, and Haines City.
Key Highlights
- Projected 12.70% cap rate at full occupancy, significantly exceeding typical Florida multifamily rates.
- Projected monthly income of $8,850 and annual gross rental income of $106,200.
- Located on Dundee Road, providing direct access to Dundee and proximity to Hwy 27.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.9k | $16.20 |
| − Vacancy | −$3.7k | −$1.05 |
| EGI | $53.2k | $15.15 |
| − OpEx | −$16.0k | −$4.54 |
| NOI | $37.3k | $10.60 |
3,515 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$532.4K
$465.9K – $621.2K
NOI $37,269 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$475.6K
$416.2K – $554.9K
NOI $33,294 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$844.7K
$739.1K – $985.5K
NOI $59,128 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing property with strong cash flow in a growing town.
Where is this multifamily property located?
The property is located at 608 DUNDEE Rd Dundee, FL.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Projected **12.70% cap rate at full occupancy**, significantly exceeding typical Florida multifamily rates.; Projected monthly income of $8,850 and annual gross rental income of $106,200.; Located on Dundee Road, providing direct access to Dundee and proximity to Hwy 27.
