Fenced Duplex
New
For Sale
$435,000
208 3RD Street, Winter Garden, FL 34787
Residential Income, WINTER GARDEN, FL
Property Size1,306 SF
Lot Size0.22 Acres
Price / SF$333.08
Days on Market2
Property Features for 208 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Interior features
Split Bedroom
Fireplace
1
Subdivision
TWIN CITY DEV CO SUB
Elementary school
Dillard Street Elem
Middle school
Lakeview Middle
High school
West Orange High
Directions
travel east toward Winter Garden via W Colonial Dr/SR-50. Continue east, turn left onto S Park Ave, then turn right onto W Story Rd and left onto 3rd St. Continue to 208 3rd St; property will be on your right.
Standard status
Active
APN
23-22-27-8816-13-110
Size
1,306 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TWIN CITY DEVELOPMENT CO SUB E/26 LOT 11& LOT 12 (LESS S 25 FT) BLK 13
Tax Annual Amount
2608
Legal Description
TWIN CITY DEVELOPMENT CO SUB E/26 LOT 11& LOT 12 (LESS S 25 FT) BLK 13
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
COMPASS FLORIDA LLC
(407) 203-9441
Listed By:
Ahmad Hassan, PA · License #3305257
(718) 641-9358
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 2:06PM
MLS# O6435218
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,306-square-foot duplex property was built in 1925 and includes eight currently rented rooms. The improvements feature vinyl siding, central air, a shingle roof, a fireplace, and a split-bedroom layout. The parcel is fully fenced and provides substantial yard area alongside the existing residential improvements.
The property encompasses approximately 0.22 acres with a 75-by-125-foot lot and 9,500+ square feet of land area. R-2 zoning, no HOA, public water, and public sewer support the current residential income use. Downtown Winter Garden, Plant Street, the West Orange Trail, local shops, restaurants, and the farmers market are a few blocks away, while SR-429, Florida’s Turnpike, and Lake Apopka are nearby.
The property encompasses approximately 0.22 acres with a 75-by-125-foot lot and 9,500+ square feet of land area. R-2 zoning, no HOA, public water, and public sewer support the current residential income use. Downtown Winter Garden, Plant Street, the West Orange Trail, local shops, restaurants, and the farmers market are a few blocks away, while SR-429, Florida’s Turnpike, and Lake Apopka are nearby.
Key Highlights
- Eight rooms currently rented
- 1,306 square feet on approximately 0.22 acres
- 75' x 125' lot with 9,500+ SF
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
$17,419
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
4.00%
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%
$348,380
$348.4K
Cap Rate 7%
$248,843
$248.8K
Cap Rate 9%
$193,544
$193.5K
Market Conditions
NOI Build-Up for 1,306 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
$26.6K $20.40/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$24.9K $19.05/SF
− OpEx
−$7.5K −$5.72/SF
NOI
$17.4K $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%
$348,380
Cap Rate 7%
$248,843
Cap Rate 9%
$193,544
Alternative Uses
Best Use
Multifamily LT 5
$248.8K
$217.7K – $290.3K
NOI $17,419 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,038 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$371.7K
$325.2K – $433.6K
NOI $26,016 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with R-2 zoning, public utilities, and proximity to Downtown Winter Garden.
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; 1,306 square feet on approximately 0.22 acres; 75' x 125' lot with 9,500+ SF
