Renovated Duplex with Private
For Sale
$298,000
405 Avenue M NE, Winter Haven, FL 33881
Both one-bedroom residences are leased for one-year terms, with residents paying their own electric service.
Property Size1,350 SF
Price / SF$220.74
Days on Market50
Property Features for 405 Avenue M NE
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
individual front porches
private driveways
personal outdoor storage units
shared rear laundry room
fully fenced yard
Building Details
Year Built
1955
Year Renovated
2024
Buildings
1
Construction
block
Listing Agency:
Lpt Realty, LLC
(877) 366-2213
Listed By:
Alan Atchley
(941) 556-9100
Source:
Atchleyrealty
Added: Sep 15
Changed: Nov 1
Last Checked: Nov 3 at 6:26AM
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 Lpt Realty, LLC
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Investment Insights
Based on property information with market context.
This 1,350-square-foot block duplex in Winter Haven contains two one-bedroom, one-bathroom residences and was built in 1955. The property underwent extensive renovation in 2024, including a new roof, mini-split A/C systems, tankless water heaters, updated kitchens and bathrooms, interior and exterior paint, luxury vinyl plank flooring, modern lighting, ceiling fans, and closet organizers.
Both units are occupied under 1-year leases, and each resident has separate electric service. Exterior features include individual front porches, private driveways, personal outdoor storage, and a shared rear laundry room with a washer and dryer. The fully fenced grounds also received new landscaping in 2024. The roof includes a transferable 10-year workmanship warranty and a 15-year unlimited wind rating.
Both units are occupied under 1-year leases, and each resident has separate electric service. Exterior features include individual front porches, private driveways, personal outdoor storage, and a shared rear laundry room with a washer and dryer. The fully fenced grounds also received new landscaping in 2024. The roof includes a transferable 10-year workmanship warranty and a 15-year unlimited wind rating.
Key Highlights
- Two 1‑bedroom, 1‑bathroom units in a 1,350‑square‑foot duplex
- Fully occupied with 1‑year leases
- Extensively renovated in 2024 with updated kitchens, bathrooms, flooring, paint, and fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,314
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,280
$286.3K
Cap Rate 7%
$204,486
$204.5K
Cap Rate 9%
$159,044
$159.0K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$21.9K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$20.4K $15.15/SF
− OpEx
−$6.1K −$4.54/SF
NOI
$14.3K $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 Rate 5%
$286,280
Cap Rate 7%
$204,486
Cap Rate 9%
$159,044
Alternative Uses
Best Use
Multifamily LT 5
$204.5K
$178.9K – $238.6K
NOI $14,314 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$182.7K
$159.8K – $213.1K
NOI $12,787 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$324.4K
$283.9K – $378.5K
NOI $22,709 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both one-bedroom residences are leased for one-year terms, with residents paying their own electric service.
Where is this duplex located?
The property is located at 405 Avenue M NE Winter Haven, FL.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bathroom units in a 1,350‑square‑foot duplex; Fully occupied with 1‑year leases; Extensively renovated in 2024 with updated kitchens, bathrooms, flooring, paint, and fixtures
