For Sale
$215,000
2204 Key W Court, Sebring, FL 33870
Residential, Single Story, Sebring, FL
Property Size1,506 SF
Price / SF$142.76
Days on Market9
Property Features for 2204 Key W Court
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Garage
Pets allowed
Yes
Interior features
BB / HS Internet Available, Blinds, Cable TV Available, Cathedral Ceilings, Ceiling Fans, Low Threshold Shower
Exterior features
Stucco
Appliances
Dishwasher, Dryer, Microwave, Refrigerator(s), Stove(s) / Range(s) Oven(s), Washer
Directions
US 27 EAST AND SEBRING PARKWAY, TURN RIGHT ON PINE KEY BLVD. ENTER GATE, PROCEED ON PINE KEY BLVD., HOME IS ONE THE LEFT SIDE.
Standard status
Active
APN
S-23-34-28-110-0000-005D
Size
1,506 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
THE VILLAS AT PINE KEY PB 16 PG 92 UNIT 5-D + INT IN COMMON AREA
Tax Annual Amount
2750
HOA Fee
$1,425 Quarterly
Legal Description
THE VILLAS AT PINE KEY PB 16 PG 92 UNIT 5-D + INT IN COMMON AREA
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
2007
Floors in Building
1
Flooring type
Carpet, Tile
Building materials
Concrete Block
Roof type
Metal
Architectural style
Other
Listing Agency:
RE/MAX REALTY PLUS · RE/MAX International
(863) 385-0077
Listed By:
Suzette Rhoades · License #SL3459887
(863) 381-4544
Added: Aug 20
Last Checked: Aug 28 at 10:06AM
MLS# 327366
Copyright © 2026 Heartland Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$12,640
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
5.88%
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%
$252,800
$252.8K
Cap Rate 7%
$180,571
$180.6K
Cap Rate 9%
$140,444
$140.4K
Market Conditions
NOI Build-Up for 1,506 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
$24.4K $16.20/SF
− Vacancy
−$1.4K −$0.94/SF
EGI
$23.0K $15.26/SF
− OpEx
−$10.3K −$6.87/SF
NOI
$12.6K $8.39/SF
Area
Highlands County, FL
Vacancy
5.80%
Lease Rate
$16.20 /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%
$252,800
Cap Rate 7%
$180,571
Cap Rate 9%
$140,444
Alternative Uses
Best Use
Apartment 5plus
$180.6K
$158.0K – $210.7K
NOI $12,640 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.3K
$274.2K – $365.5K
NOI $21,932 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 33870, FL
24,238
Population
13,933
Households
1.7
Avg Household Size
51
Median Age
18%
College-Educated
84%
High-School Grad
95.3 sq mi
ZIP Area
254
Density / Sq Mi
$50,606
Median Household Income
$28,475
Median Earnings
$977
Median Rent
$154,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this single family property located?
The property is located at 2204 Key W Court Sebring, FL.
What is the asking price?
The asking price for this property is $215,000.
