Haines City Multifamily Investment
For Sale
$169,900
Pending
590 ALOHA Dr, Haines City, FL 33844
Multifamily property for sale in Haines City, Florida.
Property Size1,322 SF
Lot Size0.11 Acres
Days on Market267
Property Features for 590 ALOHA Dr
General Information
Standard status
Pending
Size
1,322 SF
Lot size
0.11 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$1,513
Building Details
Building Size
1,322 SF
Year Built
1978
Listing Agency:
COLDWELL BANKER REALTY
(863) 206-4953
Listed By:
Don Cleveland, JR · License #445407
(863) 206-4953
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 8
Last Checked: Aug 4 at 3:10AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
A multifamily property is available for purchase in Haines City, Florida. The property is located at 590 ALOHA Dr, Haines City, FL 33844.
Key Highlights
- Year Built: 1978
- Price: $11
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
$12,522
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
7.37%
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%
$250,440
$250.4K
Cap Rate 7%
$178,886
$178.9K
Cap Rate 9%
$139,133
$139.1K
Market Conditions
NOI Build-Up for 1,322 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
$24.3K $18.36/SF
− Vacancy
−$1.5K −$1.14/SF
EGI
$22.8K $17.22/SF
− OpEx
−$10.2K −$7.75/SF
NOI
$12.5K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /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%
$250,440
Cap Rate 7%
$178,886
Cap Rate 9%
$139,133
Alternative Uses
Best Use
Apartment 5plus
$178.9K
$156.5K – $208.7K
NOI $12,522 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$317.7K
$278.0K – $370.6K
NOI $22,238 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 33844, FL
43,329
Population
22,018
Households
2
Avg Household Size
40
Median Age
17%
College-Educated
84%
High-School Grad
97.2 sq mi
ZIP Area
446
Density / Sq Mi
$60,426
Median Household Income
$36,281
Median Earnings
$1,158
Median Rent
$212,700
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?
Apartment building - Multifamily property for sale in Haines City, Florida.
Where is this apartment building located?
The property is located at 590 ALOHA Dr Haines City, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Year Built: 1978; Price: $11
