Bahama Bay Resort
For Sale
$179,000
Pending
314 LUCAYA, Davenport, FL 33897
Fully furnished 3-bedroom condo in a popular resort.
Property Size1,227 SF
Days on Market141
Property Features for 314 LUCAYA
General Information
Standard status
Pending
Size
1,227 SF
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$2,211
Building Details
Building Size
1,227 SF
Year Built
2003
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
Stephane Loth · License #3435788
(321) 314-1783
Source:
Elliman
Added: Apr 24
Changed: Sep 5
Last Checked: Sep 10 at 11:17AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This fully furnished, top-floor condo is located at the Bahama Bay Resort in Davenport, minutes from Orlando’s attractions and Walt Disney World. The spacious 3-bedroom, 2-bath residence features an open-concept layout. Recent upgrades include a new A/C system, water heater, oven, and washer/dryer. The roof was replaced in 2025. Bahama Bay Resort offers tropical landscaping and amenities such as multiple heated pools, hot tubs, a fitness center, an on-site restaurant and bar, and a fishing dock on Lake Davenport. This gated community experiences strong year-round demand, making the property turnkey and rental-ready. It is suitable for expanding a short-term rental portfolio, a vacation home, or an income-producing investment in Central Florida.
Key Highlights
- Fully furnished 3‑bedroom, 2‑bath top‑floor condo in Bahama Bay Resort.
- Minutes from Orlando attractions and Walt Disney World.
- Recent upgrades: new A/C, water heater, oven, and washer/dryer; roof replaced in 2025.
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
$11,622
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
6.49%
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%
$232,440
$232.4K
Cap Rate 7%
$166,029
$166.0K
Cap Rate 9%
$129,133
$129.1K
Market Conditions
NOI Build-Up for 1,227 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
$22.5K $18.36/SF
− Vacancy
−$1.4K −$1.14/SF
EGI
$21.1K $17.22/SF
− OpEx
−$9.5K −$7.75/SF
NOI
$11.6K $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%
$232,440
Cap Rate 7%
$166,029
Cap Rate 9%
$129,133
Alternative Uses
Best Use
Apartment 5plus
$166.0K
$145.3K – $193.7K
NOI $11,622 @ 7.0% cap · market cap 6.49%
Second Best
Hotel Hospitality
$101.1K
$88.5K – $118.0K
NOI $7,078 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$294.9K
$258.0K – $344.0K
NOI $20,640 @ 7.0% cap · market cap 11.53%
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
160
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
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?
Short term rental property - Fully furnished 3-bedroom condo in a popular resort.
Where is this short term rental property located?
The property is located at 314 LUCAYA Davenport, FL.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Fully furnished 3‑bedroom, 2‑bath top‑floor condo in Bahama Bay Resort.; Minutes from Orlando attractions and Walt Disney World.; Recent upgrades: new A/C, water heater, oven, and washer/dryer; roof replaced in 2025.
