Duplex With Large
For Sale
$289,000
904 W REYNOLDS STREET, Plant City, FL 33563
Two-unit residential income property with distinct layouts, off-street parking, and a substantial yard.
Property Size1,256 SF
Price / SF$230.10
Days on Market940
Property Features for 904 W REYNOLDS STREET
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x studio 1/1
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,477
Building Details
Year Built
1925
Buildings
1
Listing Agency:
EXP REALTY LLC
(727) 510-1624
Listed By:
Ken Jones · License #3342591
(727) 510-1624
Source:
Exitrealty
Added: Feb 3, 2024
Changed: Aug 30
Last Checked: Aug 30 at 7:08PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This duplex contains two separate residences: one offers two bedrooms and one bathroom, while the second is a studio with one bathroom. The property provides 1,256 square feet of total building area and includes a large yard with a parking pad. Improvements include newer air conditioning, roofing, and fencing. Built in 1925, the property has a long-term rental history and is located at 904 W Reynolds Street in Plant City, Florida.
Key Highlights
- Two‑unit duplex with a 2/1 residence and a studio 1/1 unit
- 1,256 SF total building area
- Large yard with parking pad
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
$14,661
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
5.07%
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%
$293,220
$293.2K
Cap Rate 7%
$209,443
$209.4K
Cap Rate 9%
$162,900
$162.9K
Market Conditions
NOI Build-Up for 1,256 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
$22.5K $17.88/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$20.9K $16.67/SF
− OpEx
−$6.3K −$5.00/SF
NOI
$14.7K $11.67/SF
Area
Hillsborough County, FL
Vacancy
6.74%
Lease Rate
$17.88 /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%
$293,220
Cap Rate 7%
$209,443
Cap Rate 9%
$162,900
Alternative Uses
Best Use
Multifamily LT 5
$209.4K
$183.3K – $244.4K
NOI $14,661 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$165.0K
$144.4K – $192.5K
NOI $11,552 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$363.7K
$318.3K – $424.4K
NOI $25,462 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,268
Businesses Nearby
Explore this area
Business Placement
Demographics for 33563, FL
27,344
Population
10,794
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
76%
High-School Grad
15.1 sq mi
ZIP Area
1,811
Density / Sq Mi
$56,318
Median Household Income
$35,142
Median Earnings
$1,226
Median Rent
$197,500
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?
Duplex - Two-unit residential income property with distinct layouts, off-street parking, and a substantial yard.
Where is this duplex located?
The property is located at 904 W REYNOLDS STREET Plant City, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2/1 residence and a studio 1/1 unit; 1,256 SF total building area; Large yard with parking pad
