Duplex with Screened
For Sale
$179,000
3838 Thunderbird Hill Circle, Sebring, FL 33872
Residential, Single Story, Sebring, FL
Property Size1,314 SF
Lot Size0.12 Acres
Price / SF$136.23
Days on Market165
Property Features for 3838 Thunderbird Hill Circle
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R2FUD
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1
Parking features
Garage
Pets allowed
Yes
Appliances
Dishwasher, Dryer, Microwave, Refrigerator(s), Stove(s) / Range(s) Oven(s), Washer
Directions
US 27 and Hammock Rd head North to Thunderbird, left on Thunderbird Hill Cr to right on Thunderbird Hill CR to left on TBC to home on left
Standard status
Active
APN
C-27-34-28-060-0000-019B
Size
1,314 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THUNDERBIRD HILL VILLAGE I PB 14 PG 9 LOT 19B
Tax Annual Amount
832
HOA Fee
$85 Monthly
Legal Description
THUNDERBIRD HILL VILLAGE I PB 14 PG 9 LOT 19B
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Amenities
screened-in porch
Building Details
Year built
1984
Floors in Building
1
Flooring type
Carpet, Laminate
Building materials
Concrete Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX REALTY PLUS · RE/MAX International
(863) 385-0077
Listed By:
Lisa Kneram PA
(863) 443-9276
Added: Mar 30
Changed: Sep 2
Last Checked: Sep 10 at 8:06PM
MLS# 324296
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.
Investment Insights
Based on property information with market context.
This 1,314-square-foot duplex property occupies a 0.12-acre lot and was built in 1984. The single-story layout includes two bedrooms and two bathrooms, with a living room, dining room, family room, and kitchen arranged for everyday use. The primary bedroom includes an ensuite bathroom and walk-in closet, while the second bedroom is positioned near the additional bathroom. A screened porch extends the usable living area, and the property also includes a garage. Concrete block construction, laminate and carpet flooring, central electric heating, central air conditioning, and a shingle roof are reported. The roof was installed in 2022, and the AC was installed in 2025.
The property is located in Thunderbird Hills Village I near shopping, dining, and medical facilities. Community amenities include a clubhouse, pool, and shuffleboard area. Zoning is R2FUD.
The property is located in Thunderbird Hills Village I near shopping, dining, and medical facilities. Community amenities include a clubhouse, pool, and shuffleboard area. Zoning is R2FUD.
Key Highlights
- 1,314‑square‑foot duplex property on a 0.12‑acre lot
- Two bedrooms and two bathrooms in a single‑story layout
- Roof installed in 2022; AC installed in 2025
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
$11,868
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
6.63%
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%
$237,360
$237.4K
Cap Rate 7%
$169,543
$169.5K
Cap Rate 9%
$131,867
$131.9K
Market Conditions
NOI Build-Up for 1,314 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
$18.1K $13.80/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$17.0K $12.90/SF
− OpEx
−$5.1K −$3.87/SF
NOI
$11.9K $9.03/SF
Area
Highlands County, FL
Vacancy
6.50%
Lease Rate
$13.80 /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%
$237,360
Cap Rate 7%
$169,543
Cap Rate 9%
$131,867
Alternative Uses
Best Use
Multifamily LT 5
$169.5K
$148.4K – $197.8K
NOI $11,868 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$157.6K
$137.9K – $183.8K
NOI $11,029 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$273.4K
$239.2K – $318.9K
NOI $19,136 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 33872, FL
13,167
Population
7,882
Households
1.7
Avg Household Size
62
Median Age
29%
College-Educated
91%
High-School Grad
22.7 sq mi
ZIP Area
580
Density / Sq Mi
$68,086
Median Household Income
$42,831
Median Earnings
$1,157
Median Rent
$193,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Single-story property with two bedrooms, two bathrooms, a garage, and community amenities including a pool and clubhouse.
Where is this duplex located?
The property is located at 3838 Thunderbird Hill Circle Sebring, FL.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 1,314‑square‑foot duplex property on a 0.12‑acre lot; Two bedrooms and two bathrooms in a single‑story layout; Roof installed in 2022; AC installed in 2025
