Davenport Dual-Unit Investment
668 CARIBBEAN DRIVE Davenport, FL 33897
668 CARIBBEAN DRIVE, Davenport, FL, 33897
$274,900
For Sale
$274,900
Dual-unit property near Disney, ideal for short-term rentals.
Property Size1,748 SF
Lot Size0.02 Acres
Price / SF$157.27
Days on Market553
Property Features for 668 CARIBBEAN DRIVE
General Information
- Standard status
- Active
- Size
- 1,748 SF
- Lot size
- 0.02 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2002
Listing Agency
LPT REALTY, LLC
(321) 240-3153
Listed by
Rafael Lopez Colon · License #3487225
(321) 240-3153
Source
Exitrealty
Added: Jan 10, 2025 Checked: Jul 17 at 4:15 am
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This dual-unit property presents a versatile investment opportunity. Unit A features 3 bedrooms and 2 bathrooms, offering a comfortable living space with an open view from the living room. Unit B is a studio-style unit with 1 bedroom and 1 bathroom. The property's flexibility allows for various uses, including living in one unit and renting out the other, or maximizing its potential as an investment property. Short-term rentals are permitted in the community. Community amenities include a remodeled basketball court, tennis/pickleball courts, and a pool. Located approximately 10-12 miles from Disney parks and 0.9 miles from Publix and dining options, the property offers a convenient location. The property size is 1748 square feet.
Key Highlights
- Dual‑unit property offering flexibility for living in one unit and renting the other, or maximizing rental income.
- Short‑term rentals allowed, providing a lucrative investment opportunity.
- Prime location: Enjoy being just 10‑12 miles from Disney parks and 0.9 miles from Publix and dining.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.3k | $16.20 |
| − Vacancy | −$1.8k | −$1.05 |
| EGI | $26.5k | $15.15 |
| − OpEx | −$7.9k | −$4.54 |
| NOI | $18.5k | $10.60 |
1,748 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$264.8K
$231.7K – $308.9K
NOI $18,534 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$236.5K
$207.0K – $276.0K
NOI $16,557 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$420.1K
$367.6K – $490.1K
NOI $29,404 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Short term rental property - Dual-unit property near Disney, ideal for short-term rentals.
Where is this short term rental property located?
The property is located at 668 CARIBBEAN DRIVE Davenport, FL.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Dual‑unit property offering flexibility for living in one unit and renting the other, or maximizing rental income.; Short‑term rentals allowed, providing a lucrative investment opportunity.; Prime location: Enjoy being just 10‑12 miles from Disney parks and 0.9 miles from Publix and dining.
