Condo with Laundry and
For Sale
$136,900
Pending
5821 LEGACY CRESCENT PLACE 301, Riverview, FL 33578
One-bedroom condo with in-unit laundry, balcony, and community amenities.
Property Size691 SF
Days on Market665
Property Features for 5821 LEGACY CRESCENT PLACE 301
General Information
Standard status
Pending
Size
691 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$1,315
Building Details
Year Built
1999
Listing Agency:
KELLER WILLIAMS SUBURBAN TAMPA
(813) 679-8544
Listed By:
Karen Chastain · License #3355727
(813) 679-8544
Source:
Exitrealty
Added: Oct 19, 2024
Changed: Aug 8
Last Checked: Aug 14 at 6:30AM
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 KELLER WILLIAMS SUBURBAN TAMPA
Investment Insights
Based on property information with market context.
This corner unit features one bedroom and one bathroom, complete with an in-unit laundry room, balcony, and window blinds. Appliances include a washer, dryer, refrigerator, dishwasher, range, and microwave. The bedroom has a walk-in closet. Located on the third floor, the unit offers enhanced safety and views from the windows and balcony. The gated community provides amenities such as a community pool, fitness center, park and playground, tennis courts, and a clubhouse. The property is situated in a location that offers convenient access to I-75 and the Crosstown Expressway, and is approximately 10 minutes from I-4. Nearby amenities include Brandon Mall, Super Target, Top Golf, restaurants, and grocery stores. The property size is 691 square feet.
Key Highlights
- Gated community with amenities: community pool, fitness center, park and playground, tennis courts, and clubhouse.
- In‑unit laundry room with washer and dryer.
- Excellent location: very close to I‑75 and the Crosstown Expressway, and only 10 minutes to I‑4.
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
$8,379
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
6.12%
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%
$167,580
$167.6K
Cap Rate 7%
$119,700
$119.7K
Cap Rate 9%
$93,100
$93.1K
Market Conditions
NOI Build-Up for 691 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
$16.1K $23.28/SF
− Vacancy
−$853 −$1.23/SF
EGI
$15.2K $22.05/SF
− OpEx
−$6.9K −$9.92/SF
NOI
$8.4K $12.13/SF
Area
Riverview, FL
Vacancy
5.30%
Lease Rate
$23.28 /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%
$167,580
Cap Rate 7%
$119,700
Cap Rate 9%
$93,100
Alternative Uses
Best Use
Apartment 5plus
$119.7K
$104.7K – $139.7K
NOI $8,379 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$215.5K
$188.6K – $251.4K
NOI $15,085 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 33578, FL
58,854
Population
25,850
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
94%
High-School Grad
20.4 sq mi
ZIP Area
2,885
Density / Sq Mi
$80,223
Median Household Income
$46,967
Median Earnings
$1,766
Median Rent
$298,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condo with in-unit laundry, balcony, and community amenities.
Where is this residential income property located?
The property is located at 5821 LEGACY CRESCENT PLACE 301 Riverview, FL.
What is the asking price?
The asking price for this property is $136,900.
What are key features of this property?
This property features: Gated community with amenities: community pool, fitness center, park and playground, tennis courts, and clubhouse.; In‑unit laundry room with washer and dryer.; Excellent location: very close to I‑75 and the Crosstown Expressway, and only 10 minutes to I‑4.
