Renovated
New
For Sale
$279,995
585 S 3RD Avenue, Bartow, FL 33830
Residential Income, BARTOW, FL
Property Size1,080 SF
Lot Size0.19 Acres
Price / SF$259.25
Days on Market5
Property Features for 585 S 3RD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Window features
Blinds
Interior features
Stone Counters, Thermostat, Window Treatments
Exterior features
Fence
Fencing
Fenced
Subdivision
SOUTH FLORIDA RR ADD
Directions
Turn W on Wabush. Turn left on 3rd ave. to property on the right.
Standard status
Active
APN
25-30-08-414500-081060
Size
1,080 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTH FLORIDA RR ADD PB 1 PG 27 TIER 8 BLK 1 LOT 6
Tax Annual Amount
4606
Legal Description
SOUTH FLORIDA RR ADD PB 1 PG 27 TIER 8 BLK 1 LOT 6
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Building materials
Block
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS TAMPA CENTRAL · Keller Williams Realty
(813) 865-0700
Listed By:
Elif Fitts
(813) 865-0700
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 12:06AM
MLS# TB8542880
Copyright © 2026 Stellar MLS. 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 duplex contains two separate residential units, each arranged with two bedrooms and one bathroom. The 1,080-square-foot property includes updated flooring, cabinetry, granite countertops, bathroom vanities, and HVAC systems, along with a newer shingle roof. Block construction, central air, a heat pump, window treatments, and stone counters are among the documented improvements and features.
The property occupies a 0.19-acre lot at 585 S 3RD Avenue in Bartow, with convenient parking and fencing. It is located minutes from Bartow’s historic Main Street and downtown district, near restaurants, shopping, entertainment, and community events. Public water and public sewer serve the property, which is zoned R-2.
The property occupies a 0.19-acre lot at 585 S 3RD Avenue in Bartow, with convenient parking and fencing. It is located minutes from Bartow’s historic Main Street and downtown district, near restaurants, shopping, entertainment, and community events. Public water and public sewer serve the property, which is zoned R-2.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,080 square feet on a 0.19‑acre lot
- Renovated interiors with updated flooring, cabinetry, granite counters, and bathroom vanities
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
$11,451
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
4.09%
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%
$229,020
$229.0K
Cap Rate 7%
$163,586
$163.6K
Cap Rate 9%
$127,233
$127.2K
Market Conditions
NOI Build-Up for 1,080 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
$17.5K $16.20/SF
− Vacancy
−$1.1K −$1.05/SF
EGI
$16.4K $15.15/SF
− OpEx
−$4.9K −$4.54/SF
NOI
$11.5K $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%
$229,020
Cap Rate 7%
$163,586
Cap Rate 9%
$127,233
Alternative Uses
Best Use
Multifamily LT 5
$163.6K
$143.1K – $190.9K
NOI $11,451 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$146.1K
$127.9K – $170.5K
NOI $10,230 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$259.5K
$227.1K – $302.8K
NOI $18,167 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
923
Businesses Nearby
Explore this area
Business Placement
Demographics for 33830, FL
29,926
Population
11,989
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
120.5 sq mi
ZIP Area
248
Density / Sq Mi
$62,636
Median Household Income
$37,078
Median Earnings
$1,017
Median Rent
$207,900
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?
Duplex - Two separately configured units feature refreshed interiors, central air, public utilities, and fenced outdoor space.
Where is this duplex located?
The property is located at 585 S 3RD Avenue Bartow, FL.
What is the asking price?
The asking price for this property is $279,995.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,080 square feet on a 0.19‑acre lot; Renovated interiors with updated flooring, cabinetry, granite counters, and bathroom vanities
