Tenant-Occupied
For Sale
Under Contract
$430,000
724 W CENTRAL Avenue, Winter Haven, FL 33880
Residential Income, WINTER HAVEN, FL
Property Size3,015 SF
Lot Size0.21 Acres
Price / SF$142.62
Days on Market356
Property Features for 724 W CENTRAL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RP
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 2
Exterior features
Private Mailbox, Sidewalk
Subdivision
LAKE ADD
Directions
Turn right onto 8th street SW, Turn left, Property is on the left
Standard status
Active Under Contract
APN
26-28-29-632000-004050
Size
3,015 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LAKE ADD DB Q PG 529 BLK 4 LOTS 5 & E 20 FT OF 6
Tax Annual Amount
7880
Legal Description
LAKE ADD DB Q PG 529 BLK 4 LOTS 5 & E 20 FT OF 6
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Ductless (Heating)
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
2
Building materials
Stucco, Frame, Wood Siding
Roof type
Shingle
Listing Agency:
REAL BROKER, LLC
(855) 450-0442
Listed By:
Miraya Lane, PA · License #3455140
(407) 969-5204
Added: Sep 6, 2025
Changed: Aug 20
Last Checked: Aug 27 at 7:06PM
MLS# O6342320
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 tenant-occupied duplex was built in 1930 and contains 3,015 square feet on a 0.21-acre parcel. The property includes five bedrooms and five bathrooms, with stucco, frame, and wood siding construction beneath a shingle roof. Heating is provided by central and ductless systems, while cooling includes central air and wall or window units.
The property is located at 724 W Central Avenue in Winter Haven, Florida. Public water and public sewer serve the site, and cable service is available. Exterior features include a private mailbox and sidewalk. The sale is offered as-is with no repairs, and the short sale requires lender approval.
The property is located at 724 W Central Avenue in Winter Haven, Florida. Public water and public sewer serve the site, and cable service is available. Exterior features include a private mailbox and sidewalk. The sale is offered as-is with no repairs, and the short sale requires lender approval.
Key Highlights
- Duplex with 3,015 square feet on a 0.21‑acre lot
- Five bedrooms and five bathrooms
- Built in 1930 with stucco, frame, and wood siding construction
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
$31,968
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
7.43%
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%
$639,360
$639.4K
Cap Rate 7%
$456,686
$456.7K
Cap Rate 9%
$355,200
$355.2K
Market Conditions
NOI Build-Up for 3,015 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
$48.8K $16.20/SF
− Vacancy
−$3.2K −$1.05/SF
EGI
$45.7K $15.15/SF
− OpEx
−$13.7K −$4.54/SF
NOI
$32.0K $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%
$639,360
Cap Rate 7%
$456,686
Cap Rate 9%
$355,200
Alternative Uses
Best Use
Multifamily LT 5
$456.7K
$399.6K – $532.8K
NOI $31,968 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$408.0K
$357.0K – $476.0K
NOI $28,558 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$724.5K
$634.0K – $845.3K
NOI $50,717 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,398
Businesses Nearby
Explore this area
Business Placement
Demographics for 33880, FL
42,005
Population
17,055
Households
2.5
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,296
Density / Sq Mi
$56,803
Median Household Income
$35,051
Median Earnings
$1,128
Median Rent
$200,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with five bedrooms, five bathrooms, and public water and sewer service.
Where is this duplex located?
The property is located at 724 W CENTRAL Avenue Winter Haven, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Duplex with 3,015 square feet on a 0.21‑acre lot; Five bedrooms and five bathrooms; Built in 1930 with stucco, frame, and wood siding construction
