Four-Unit Quadplex with New
For Sale
$520,000
714 Michigan Court, Saint Cloud, FL 34769
Residential income property with three leased units and one vacancy for added occupancy flexibility.
Property Size3,424 SF
Price / SF$151.87
Days on Market57
Property Features for 714 Michigan Court
General Information
Standard status
Active
Size
3,424 SF
Property subtype
Residential Income
Zoning
Residential
Net Operating Income
$37,869
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,746
Building Details
Building Size
3,424 SF
Year Built
1972
Stories
1
Tenancy
Multi
Listing Agency:
Treasure Property Group LLC
(561) 460-9494
Listed By:
Luban Quiceno · License #B26013719
(561) 460-9494
Source:
Laerrealty
Added: Jul 6
Changed: Aug 30
Last Checked: Aug 30 at 3:26PM
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 Treasure Property Group LLC
Investment Insights
Based on property information with market context.
This well-maintained quadplex contains four residential units, each with two bedrooms, one bathroom, and approximately 856 square feet of living space. New windows have been installed throughout all units. The property offers a combination of current income and available space, with three residences occupied under active leases and one unit vacant for future leasing or owner use.
Located within the Palm Gardens Condo community in Saint Cloud, Florida, the property is near major roadways, shopping, dining, and local amenities. The asset is zoned Residential and was built in 1972. Showings are subject to unit occupancy.
Located within the Palm Gardens Condo community in Saint Cloud, Florida, the property is near major roadways, shopping, dining, and local amenities. The asset is zoned Residential and was built in 1972. Showings are subject to unit occupancy.
Key Highlights
- Four residential units, each with 2 bedrooms, 1 bathroom, and approximately 856 square feet
- Three units are tenant‑occupied under active leases; one unit is vacant
- New windows installed throughout all units
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
$45,668
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
8.78%
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%
$913,360
$913.4K
Cap Rate 7%
$652,400
$652.4K
Cap Rate 9%
$507,422
$507.4K
Market Conditions
NOI Build-Up for 3,424 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
$69.8K $20.40/SF
− Vacancy
−$4.6K −$1.35/SF
EGI
$65.2K $19.05/SF
− OpEx
−$19.6K −$5.72/SF
NOI
$45.7K $13.34/SF
Area
Osceola County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$913,360
Cap Rate 7%
$652,400
Cap Rate 9%
$507,422
Alternative Uses
Best Use
Multifamily LT 5
$652.4K
$570.9K – $761.1K
NOI $45,668 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$600.7K
$525.6K – $700.8K
NOI $42,048 @ 7.0% cap · market cap 8.09%
Theoretical Best
Specialty Retail
$1.06M
$926.4K – $1.24M
NOI $74,112 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 34769, FL
27,594
Population
11,070
Households
2.5
Avg Household Size
40
Median Age
24%
College-Educated
89%
High-School Grad
10.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$58,764
Median Household Income
$35,776
Median Earnings
$1,400
Median Rent
$271,800
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?
Quadplex - Residential income property with three leased units and one vacancy for added occupancy flexibility.
Where is this quadplex located?
The property is located at 714 Michigan Court Saint Cloud, FL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms, 1 bathroom, and approximately 856 square feet; Three units are tenant‑occupied under active leases; one unit is vacant; New windows installed throughout all units
