Two-Unit
For Sale
$269,995
585 S 3RD AVENUE, Bartow, FL 33830
Each residence has two bedrooms, one bath, updated finishes, and its own HVAC system.
Property Size1,080 SF
Lot Size0.19 Acres
Price / SF$249
Days on Market64
Property Features for 585 S 3RD AVENUE
General Information
Standard status
Active
Size
1,080 SF
Lot size
0.19 Acres
Property subtype
Residential Income
Zoning
R-2
Financials
Gross Income
$30,840
Average Monthly Rent
$1,285
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,605
Amenities
Stone Counters
Thermostat
Window Treatments
Fence
Building Details
Building Size
1,080 SF
Year Built
1956
Buildings
1
Stories
1
Listing Agency:
FRONTLINE FLORIDA REALTY, INC.
Listed By:
Alan Martin · License #678965
(407) 832-4888
Source:
Frontlinefloridarealty
Added: Aug 26
Changed: Oct 26
Last Checked: Oct 26 at 4:08AM
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 FRONTLINE FLORIDA REALTY, INC.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1956, this duplex contains two separate 2-bedroom, 1-bath residences totaling 1,080 square feet. Interior improvements include updated flooring, cabinetry, and bathroom vanities, along with HVAC systems. The property also has a newer roof and sits on an 8,433-square-foot lot. R-2 zoning is in place.
The address is 585 S 3rd Avenue in Bartow, within minutes of the downtown Main Street district. Restaurants, shopping, entertainment, and community events are among the nearby downtown offerings. The property has on-site parking. Both residences are currently rented; the stated estimated cap rate is in the 7s.
The address is 585 S 3rd Avenue in Bartow, within minutes of the downtown Main Street district. Restaurants, shopping, entertainment, and community events are among the nearby downtown offerings. The property has on-site parking. Both residences are currently rented; the stated estimated cap rate is in the 7s.
Key Highlights
- Two 2‑bedroom, 1‑bath residences
- 1,080 square feet of building area on an 8,433‑square‑foot lot
- Updated flooring, cabinetry, and bathroom vanities; HVAC systems in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,451
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
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
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 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 4.24%
Second Best
Apartment 5plus
$146.1K
$127.9K – $170.5K
NOI $10,230 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$259.5K
$227.1K – $302.8K
NOI $18,167 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, one bath, updated finishes, and its own HVAC system.
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 $269,995.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath residences; 1,080 square feet of building area on an 8,433‑square‑foot lot; Updated flooring, cabinetry, and bathroom vanities; HVAC systems in both units
