Renovated Residential Income
For Sale
$138,999
17202 SANDALWOOD DRIVE, Wildwood, FL 34785
Modernized residence with flexible bonus space and access to community recreation, fitness, and social amenities.
Property Size1,156 SF
Price / SF$120.24
Days on Market52
Property Features for 17202 SANDALWOOD DRIVE
General Information
Standard status
Active
Size
1,156 SF
Property subtype
Commercial
Zoning
R
Additional Details
Multifamily Units
1
Amenities
pool
tennis courts
clubhouse
fitness center
Building Details
Year Built
1980
Stories
2
Listing Agency:
(352) 326-2662
Listed By:
Carlino Group
(352) 326-2662
Source:
Carlinogroup
Added: Jul 10
Changed: Aug 28
Last Checked: Aug 29 at 5:48AM
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 Carlino Group
Investment Insights
Based on property information with market context.
This residential income property offers 1,156 square feet with two bedrooms, two full bathrooms, and an additional bonus room that can function as a home office or den. Renovations include luxury vinyl flooring, new kitchen cabinetry, modern appliances, and updated bathrooms. The property was built in 1980 and carries R zoning.
Community amenities include a private pool, tennis courts, clubhouse, and fitness center with new equipment. The property is near The Villages Brownwood Paddock Square and The Market at Sawgrass Grove, providing access to nearby entertainment, dining, and shopping.
Community amenities include a private pool, tennis courts, clubhouse, and fitness center with new equipment. The property is near The Villages Brownwood Paddock Square and The Market at Sawgrass Grove, providing access to nearby entertainment, dining, and shopping.
Key Highlights
- 2‑bedroom, 2‑full‑bath residence with 1,156 sq. ft. of living space
- Bonus room suitable for a home office or den
- Renovated with luxury vinyl flooring, new kitchen cabinets, modern appliances, and updated bathrooms
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
$11,536
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
8.30%
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%
$230,720
$230.7K
Cap Rate 7%
$164,800
$164.8K
Cap Rate 9%
$128,178
$128.2K
Market Conditions
NOI Build-Up for 1,156 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
$22.2K $19.20/SF
− Vacancy
−$1.2K −$1.06/SF
EGI
$21.0K $18.14/SF
− OpEx
−$9.4K −$8.16/SF
NOI
$11.5K $9.98/SF
Area
Sumter County, FL
Vacancy
5.50%
Lease Rate
$19.20 /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%
$230,720
Cap Rate 7%
$164,800
Cap Rate 9%
$128,178
Alternative Uses
Best Use
Apartment 5plus
$164.8K
$144.2K – $192.3K
NOI $11,536 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$330.9K
$289.6K – $386.1K
NOI $23,166 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Explore this area
Business Placement
Demographics for 34785, FL
18,677
Population
6,595
Households
2.8
Avg Household Size
46
Median Age
15%
College-Educated
82%
High-School Grad
64.1 sq mi
ZIP Area
291
Density / Sq Mi
$48,004
Median Household Income
$31,207
Median Earnings
$1,082
Median Rent
$210,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Modernized residence with flexible bonus space and access to community recreation, fitness, and social amenities.
Where is this residential income property located?
The property is located at 17202 SANDALWOOD DRIVE Wildwood, FL.
What is the asking price?
The asking price for this property is $138,999.
What are key features of this property?
This property features: 2‑bedroom, 2‑full‑bath residence with 1,156 sq. ft. of living space; Bonus room suitable for a home office or den; Renovated with luxury vinyl flooring, new kitchen cabinets, modern appliances, and updated bathrooms
