Two-Unit Duplex with Central
For Sale
$190,000
101 LAKE HUNTER Drive, Lakeland, FL 33803
Residential, LAKELAND, FL
Property Size903 SF
Lot Size0.02 Acres
Price / SF$210.41
Days on Market44
Property Features for 101 LAKE HUNTER Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF-12
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1
Pets allowed
Yes, Cats OK, Dogs OK
Interior features
Solid Surface Counters
Exterior features
Lighting, Sidewalk
Appliances
Microwave, Range, Refrigerator
Subdivision
LAKE HUNTER VILLAS
Elementary school
Dixieland Elem
Middle school
Southwest Middle School
High school
Kathleen High
Directions
Head toward W Patterson St, Turn left onto Ariana St, Turn left onto FL-563 N, Turn right onto Lake Hunter Dr, Turn right, Destination will be on the right.
Standard status
Active
APN
23-28-24-124510-000250
Size
903 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE HUNTER VILLAS PB 69 PB 34 LOT 25 & A 1/30 UNDIVIDED INTEREST IN TRACT A
Tax Annual Amount
1998
Legal Description
LAKE HUNTER VILLAS PB 69 PB 34 LOT 25 & A 1/30 UNDIVIDED INTEREST IN TRACT A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Laminate
Building materials
Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY
(863) 577-1234
Listed By:
Daryl Ash, II · License #3283301
(863) 934-1548
Added: Jul 27
Changed: Sep 4
Last Checked: Sep 8 at 1:06AM
MLS# L4963875
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 two-unit residential property includes units 11 and 12 within Lake Hunter Villas. The building measures 903 square feet on a 0.02-acre lot. Built in 1980, it features stucco construction, a shingle roof, laminate flooring, solid-surface counters, and central heating and cooling. Appliances include a microwave, range, and refrigerator, while exterior improvements include lighting and a sidewalk.
Located at 101 Lake Hunter Drive in Lakeland, Florida, the property is described as minutes from downtown Lakeland dining, shopping, and local attractions. Public water and public sewer serve the property, with cable available. The site carries MF-12 zoning, and the room information identifies two bedrooms and one bathroom.
Located at 101 Lake Hunter Drive in Lakeland, Florida, the property is described as minutes from downtown Lakeland dining, shopping, and local attractions. Public water and public sewer serve the property, with cable available. The site carries MF-12 zoning, and the room information identifies two bedrooms and one bathroom.
Key Highlights
- Two‑unit duplex comprising units 11 and 12 in Lake Hunter Villas
- 903 square feet on a 0.02‑acre lot
- MF‑12 zoning with public water and public sewer
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
$9,574
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
5.04%
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%
$191,480
$191.5K
Cap Rate 7%
$136,771
$136.8K
Cap Rate 9%
$106,378
$106.4K
Market Conditions
NOI Build-Up for 903 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
$14.6K $16.20/SF
− Vacancy
−$951 −$1.05/SF
EGI
$13.7K $15.15/SF
− OpEx
−$4.1K −$4.54/SF
NOI
$9.6K $10.60/SF
Area
Lakeland, 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%
$191,480
Cap Rate 7%
$136,771
Cap Rate 9%
$106,378
Alternative Uses
Best Use
Multifamily LT 5
$136.8K
$119.7K – $159.6K
NOI $9,574 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$122.2K
$106.9K – $142.6K
NOI $8,553 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$217.0K
$189.9K – $253.2K
NOI $15,190 @ 7.0% cap · market cap 7.99%
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
667
Businesses Nearby
Explore this area
Business Placement
Demographics for 33803, FL
29,082
Population
15,086
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
1,752
Density / Sq Mi
$63,180
Median Household Income
$40,358
Median Earnings
$1,337
Median Rent
$236,200
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 - MF-12 zoning, public utilities, and a practical residential layout support flexible occupancy options.
Where is this duplex located?
The property is located at 101 LAKE HUNTER Drive Lakeland, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two‑unit duplex comprising units 11 and 12 in Lake Hunter Villas; 903 square feet on a 0.02‑acre lot; MF‑12 zoning with public water and public sewer
