Springwood Villas
For Sale
$175,000
5080 PARK LAKE N DRIVE 110, Pinellas Park, FL 33782
Two-bedroom condo in a 55+ community with many amenities.
Property Size950 SF
Lot Size1.11 Acres
Price / SF$184.21
Days on Market699
Property Features for 5080 PARK LAKE N DRIVE 110
General Information
Standard status
Active
Size
950 SF
Lot size
1.11 Acres
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$574
Building Details
Year Built
1969
Listing Agency:
PRESTIGE LIFESTYLES REALTY
(407) 506-5387
Listed By:
Jennifer Geiger · License #3201810
(407) 506-5387
Source:
Exitrealty
Added: Sep 12, 2024
Changed: Aug 8
Last Checked: Aug 10 at 4:26AM
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 PRESTIGE LIFESTYLES REALTY
Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condo is located in the 55+ community of Springwood Villas. This end unit offers over 1,000 square feet of living space and features several updates. The home includes split bedrooms, with the master bedroom featuring a walk-in closet and an ensuite bathroom with a walk-in shower. The residence has no carpet and includes a stackable washer and dryer in a closet off the kitchen. The monthly fee covers water, trash removal, sewer, basic cable, and internet services. Springwood Villas I provides amenities such as a clubhouse with a billiard room and kitchen, shuffleboard courts, and a heated swimming pool. The community's monthly dues include cable, internet, water, sewer, and trash services.
Key Highlights
- Move‑in ready, updated end unit condo with over 1,000 sq ft of living space.
- Located in the 55+ community of Springwood Villas I.
- Monthly fee includes water, trash removal, sewer, basic cable, and internet services.
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
$8,737
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
4.99%
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%
$174,740
$174.7K
Cap Rate 7%
$124,814
$124.8K
Cap Rate 9%
$97,078
$97.1K
Market Conditions
NOI Build-Up for 950 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
$17.1K $18.00/SF
− Vacancy
−$1.2K −$1.28/SF
EGI
$15.9K $16.72/SF
− OpEx
−$7.1K −$7.52/SF
NOI
$8.7K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /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%
$174,740
Cap Rate 7%
$124,814
Cap Rate 9%
$97,078
Alternative Uses
Best Use
Apartment 5plus
$124.8K
$109.2K – $145.6K
NOI $8,737 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.1K
$216.2K – $288.3K
NOI $17,297 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 33782, FL
22,198
Population
10,581
Households
2.1
Avg Household Size
50
Median Age
29%
College-Educated
88%
High-School Grad
5.4 sq mi
ZIP Area
4,111
Density / Sq Mi
$65,487
Median Household Income
$41,676
Median Earnings
$1,767
Median Rent
$253,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condo in a 55+ community with many amenities.
Where is this residential income property located?
The property is located at 5080 PARK LAKE N DRIVE 110 Pinellas Park, FL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Move‑in ready, updated end unit condo with over 1,000 sq ft of living space.; Located in the 55+ community of Springwood Villas I.; Monthly fee includes water, trash removal, sewer, basic cable, and internet services.
