Manufactured Home Triplex with
New
For Sale
$240,000
1549 ADAIR, Davenport, FL 33837
Three tenant-occupied one-bedroom areas include two within the main home and a detached rear living area.
Property Size1,064 SF
Days on Market3
Property Features for 1549 ADAIR
General Information
Standard status
Active
Size
1,064 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,481
Building Details
Building Size
1,064 SF
Year Built
1989
Buildings
2
Tenancy
Multi
Listed By:
Coach Will Fonseca
(407) 641-6782
Source:
Elliman
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 6 at 8:45AM
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 Coach Will Fonseca
Investment Insights
Based on property information with market context.
This 1989 manufactured home property is configured as a triplex with three separate one-bedroom, one-bath rental areas. Two living areas are contained within the main residence, while a detached ADU at the rear provides the third unit. All three areas are currently tenant occupied, creating a multi-unit residential layout on one property.
The property is located at 1549 Adair in Davenport, Florida, with access to major roadways, shopping, employment centers, and Central Florida attractions. The location is rated 25 for bikeability and 2 for walkability, indicating that daily travel is primarily car-dependent. Showings are available by appointment, and the property is tenant occupied.
The property is located at 1549 Adair in Davenport, Florida, with access to major roadways, shopping, employment centers, and Central Florida attractions. The location is rated 25 for bikeability and 2 for walkability, indicating that daily travel is primarily car-dependent. Showings are available by appointment, and the property is tenant occupied.
Key Highlights
- Three separate one‑bedroom, one‑bath rental areas
- Two units configured within the main manufactured home
- Detached one‑bedroom, one‑bath ADU at the rear
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
$11,281
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
4.70%
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%
$225,620
$225.6K
Cap Rate 7%
$161,157
$161.2K
Cap Rate 9%
$125,344
$125.3K
Market Conditions
NOI Build-Up for 1,064 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
$17.2K $16.20/SF
− Vacancy
−$1.1K −$1.05/SF
EGI
$16.1K $15.15/SF
− OpEx
−$4.8K −$4.54/SF
NOI
$11.3K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$225,620
Cap Rate 7%
$161,157
Cap Rate 9%
$125,344
Alternative Uses
Best Use
Multifamily LT 5
$161.2K
$141.0K – $188.0K
NOI $11,281 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$144.0K
$126.0K – $168.0K
NOI $10,078 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$255.7K
$223.7K – $298.3K
NOI $17,898 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 33837, FL
36,302
Population
19,082
Households
1.9
Avg Household Size
40
Median Age
27%
College-Educated
90%
High-School Grad
51.3 sq mi
ZIP Area
708
Density / Sq Mi
$75,861
Median Household Income
$39,246
Median Earnings
$1,739
Median Rent
$297,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three tenant-occupied one-bedroom areas include two within the main home and a detached rear living area.
Where is this triplex located?
The property is located at 1549 ADAIR Davenport, FL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Three separate one‑bedroom, one‑bath rental areas; Two units configured within the main manufactured home; Detached one‑bedroom, one‑bath ADU at the rear
