4-Unit Quadplex with Central
For Sale
$495,000
2435 NE EDWIN STREET, Winter Haven, FL 33881
Individual electric metering and central HVAC serve all four units.
Property Size2,862 SF
Price / SF$172.96
Days on Market560
Property Features for 2435 NE EDWIN STREET
General Information
Standard status
Active
Size
2,862 SF
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,732
Building Details
Year Built
1968
Listing Agency:
CONTEMPORARY REALTY GROUP
(407) 325-4756
Listed By:
Pedro Fernandez Salvador · License #3293050
(321) 987-0764
Source:
Exitrealty
Added: Feb 19, 2025
Changed: Sep 2
Last Checked: Sep 1 at 3:26PM
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 CONTEMPORARY REALTY GROUP
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 2,862 square feet and was built in 1968. Each unit has its own electric meter, while central air conditioning and heating serve the building. The roof was replaced in 2018.
Unit improvements include one fully renewed residence and three additional units with partial updates. The property is located at 2435 NE Edwin Street in Winter Haven, Florida.
Unit improvements include one fully renewed residence and three additional units with partial updates. The property is located at 2435 NE Edwin Street in Winter Haven, Florida.
Key Highlights
- Four‑unit quadplex at 2435 NE Edwin Street, Winter Haven, FL 33881
- 2,862‑square‑foot multifamily property built in 1968
- Separate electric meter assigned to each unit
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
$30,345
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
6.13%
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%
$606,900
$606.9K
Cap Rate 7%
$433,500
$433.5K
Cap Rate 9%
$337,167
$337.2K
Market Conditions
NOI Build-Up for 2,862 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
$46.4K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.4K $15.15/SF
− OpEx
−$13.0K −$4.54/SF
NOI
$30.3K $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%
$606,900
Cap Rate 7%
$433,500
Cap Rate 9%
$337,167
Alternative Uses
Best Use
Multifamily LT 5
$433.5K
$379.3K – $505.8K
NOI $30,345 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$387.3K
$338.9K – $451.8K
NOI $27,109 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$687.8K
$601.8K – $802.4K
NOI $48,143 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 33881, FL
38,369
Population
17,948
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
85%
High-School Grad
21.9 sq mi
ZIP Area
1,752
Density / Sq Mi
$53,867
Median Household Income
$33,941
Median Earnings
$1,153
Median Rent
$177,400
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?
Quadplex - Individual electric metering and central HVAC serve all four units.
Where is this quadplex located?
The property is located at 2435 NE EDWIN STREET Winter Haven, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four‑unit quadplex at 2435 NE Edwin Street, Winter Haven, FL 33881; 2,862‑square‑foot multifamily property built in 1968; Separate electric meter assigned to each unit
