Renovated Duplex with
For Sale
$468,000
Pending
207 E PALMETTO STREET, Davenport, FL 33837
Two-unit property with separate water and electric service, updated systems, and no HOA.
Property Size2,240 SF
Lot Size0.41 Acres
Days on Market514
Property Features for 207 E PALMETTO STREET
General Information
Standard status
Pending
Size
2,240 SF
Lot size
0.41 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,802
Amenities
air-conditioned laundry room
basement
Building Details
Year Built
1948
Buildings
1
Listing Agency:
REAL BROKER, LLC
(855) 450-0442
Listed By:
Liz Wilson · License #3187689
(863) 557-6135
Source:
Exitrealty
Added: May 27, 2025
Changed: Oct 1
Last Checked: Oct 1 at 9:08AM
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 REAL BROKER, LLC
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Investment Insights
Based on property information with market context.
This renovated duplex offers 2,240 square feet across two separately serviced units. Unit A includes three bedrooms and two full bathrooms, while Unit B provides two bedrooms and one full bathroom. The property also includes an air-conditioned laundry room and a basement that can support office, gym, workshop, or storage use. Updated flooring, paint, kitchens, bathrooms, electrical systems, plumbing, air-conditioning systems, water heaters, and roofs contribute to the property’s current condition.
Set on a .41-acre lot at 207 E Palmetto Street in Davenport, the property is located near historic Downtown Davenport and provides access to I-4, shopping, schools, and parks. The duplex has no HOA and was built in 1948.
Set on a .41-acre lot at 207 E Palmetto Street in Davenport, the property is located near historic Downtown Davenport and provides access to I-4, shopping, schools, and parks. The duplex has no HOA and was built in 1948.
Key Highlights
- 2,240‑square‑foot duplex on a .41‑acre lot
- Unit A: 3 bedrooms and 2 full bathrooms
- Unit B: 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,750
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,000
$475.0K
Cap Rate 7%
$339,286
$339.3K
Cap Rate 9%
$263,889
$263.9K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$36.3K $16.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$33.9K $15.15/SF
− OpEx
−$10.2K −$4.54/SF
NOI
$23.8K $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 Rate 5%
$475,000
Cap Rate 7%
$339,286
Cap Rate 9%
$263,889
Alternative Uses
Best Use
Multifamily LT 5
$339.3K
$296.9K – $395.8K
NOI $23,750 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$303.1K
$265.2K – $353.6K
NOI $21,217 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$538.3K
$471.0K – $628.0K
NOI $37,680 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
295
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate water and electric service, updated systems, and no HOA.
Where is this duplex located?
The property is located at 207 E PALMETTO STREET Davenport, FL.
What is the asking price?
The asking price for this property is $468,000.
What are key features of this property?
This property features: 2,240‑square‑foot duplex on a .41‑acre lot; Unit A: 3 bedrooms and 2 full bathrooms; Unit B: 2 bedrooms and 1 full bathroom
