Fenced Duplex
For Sale
$435,000
208 3RD STREET, Winter Garden, FL 34787
Eight occupied rooms support an established residential income operation with city utilities and R-2 zoning.
Property Size1,750 SF
Lot Size0.22 Acres
Price / SF$248.57
Days on Market10
Property Features for 208 3RD STREET
General Information
Standard status
Active
Size
1,750 SF
Lot size
0.22 Acres
Property subtype
Duplex
Zoning
R-2
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Gross Income
$74,100
Multifamily Units
8
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
COMPASS FLORIDA LLC
(407) 203-9441
Listed By:
Ahmad Hassan, PA · License #3305257
Source:
Dennisrealty
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 11:49AM
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 COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This 1,750-square-foot duplex property, built in 1925, contains eight rooms that are currently rented and occupied. The site is fully fenced and includes substantial yard area, city water, and city sewer. R-2 zoning and the absence of an HOA provide a defined regulatory and ownership framework, with any future expansion or redevelopment subject to applicable requirements and City approvals.
The property occupies approximately 0.22 acres with a 75' x 125' lot configuration and 9,500+ SF of land. It is located a few blocks from Historic Downtown Winter Garden, Plant Street, the West Orange Trail, shops, restaurants, and the farmers market. SR-429, Florida's Turnpike, and Lake Apopka are also nearby.
The property occupies approximately 0.22 acres with a 75' x 125' lot configuration and 9,500+ SF of land. It is located a few blocks from Historic Downtown Winter Garden, Plant Street, the West Orange Trail, shops, restaurants, and the farmers market. SR-429, Florida's Turnpike, and Lake Apopka are also nearby.
Key Highlights
- Eight rooms currently rented and occupied
- 1,750 SF duplex property built in 1925
- Approximately 0.22 acres with a 9,500+ SF Lot
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
$23,341
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
5.37%
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%
$466,820
$466.8K
Cap Rate 7%
$333,443
$333.4K
Cap Rate 9%
$259,344
$259.3K
Market Conditions
NOI Build-Up for 1,750 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
$35.7K $20.40/SF
− Vacancy
−$2.4K −$1.35/SF
EGI
$33.3K $19.05/SF
− OpEx
−$10.0K −$5.72/SF
NOI
$23.3K $13.34/SF
Area
Orange County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$466,820
Cap Rate 7%
$333,443
Cap Rate 9%
$259,344
Alternative Uses
Best Use
Multifamily LT 5
$333.4K
$291.8K – $389.0K
NOI $23,341 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.2K
NOI $21,491 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$498.0K
$435.8K – $581.0K
NOI $34,860 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 34787, FL
88,636
Population
33,141
Households
2.7
Avg Household Size
36
Median Age
49%
College-Educated
94%
High-School Grad
67.3 sq mi
ZIP Area
1,317
Density / Sq Mi
$114,988
Median Household Income
$53,995
Median Earnings
$1,994
Median Rent
$475,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Eight occupied rooms support an established residential income operation with city utilities and R-2 zoning.
Where is this duplex located?
The property is located at 208 3RD STREET Winter Garden, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Eight rooms currently rented and occupied; 1,750 SF duplex property built in 1925; Approximately 0.22 acres with a 9,500+ SF Lot
