Duplex with In-Unit
For Sale
$210,000
139 Serenity Ave, Lake Placid, FL 33852
MULTI_FAMILY - Other - Lake Placid, FL
Property Size1,568 SF
Lot Size0.17 Acres
Price / SF$133.93
Days on Market126
Property Features for 139 Serenity Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2
High school district
000000
Directions
Head toward S Oak Ave, at the traffic circle, take the 3rd exit onto Serenity Avenue, exit the traffic circle onto Serenity Avenue, arrived at 139 Serenity Avenue Lake Placid, FL 33852
Standard status
Active
APN
P-36-36-29-210-00C0-0240
Size
1,568 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1408
Utilities
Sewer type
Septic Tank
Water source
Public
Amenities
in-unit laundry
private enclosed back porch
Building Details
Year built
1977
Roof type
Asphalt
Architectural style
Other
Listing Agency:
The Pipal Group
Listed By:
Elena Silva, P.a.
Added: Apr 24
Changed: Aug 5
Last Checked: Aug 27 at 6:06PM
MLS# 11736394
Copyright © 2026 My State 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 duplex offers two separate residential units, each featuring two bedrooms and one bathroom. Tenants have in-unit laundry, plus a private enclosed back porch for added interior comfort and convenience. The units are currently tenant-occupied on a month-to-month basis, supporting immediate rental continuity with flexibility for future occupancy or rent adjustments. The property is being offered in “AS IS” condition.
The home sits on a 0.17-acre lot and was built in 1977. Water service is public, and the property uses a septic tank for sewer. The roof is asphalt, with a brand new roof installed in 2024.
For buyers looking for a manageable duplex setup, the combination of two 2BR/1BA units, in-unit laundry, and recent roofing improvements may reduce near-term maintenance concerns while maintaining a straightforward two-unit rental configuration.
The home sits on a 0.17-acre lot and was built in 1977. Water service is public, and the property uses a septic tank for sewer. The roof is asphalt, with a brand new roof installed in 2024.
For buyers looking for a manageable duplex setup, the combination of two 2BR/1BA units, in-unit laundry, and recent roofing improvements may reduce near-term maintenance concerns while maintaining a straightforward two-unit rental configuration.
Key Highlights
- Two separate 2BR/1BA units
- In‑unit laundry plus private enclosed back porch
- Brand new roof installed in 2024
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
$14,162
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
6.74%
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%
$283,240
$283.2K
Cap Rate 7%
$202,314
$202.3K
Cap Rate 9%
$157,356
$157.4K
Market Conditions
NOI Build-Up for 1,568 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
$21.6K $13.80/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$20.2K $12.90/SF
− OpEx
−$6.1K −$3.87/SF
NOI
$14.2K $9.03/SF
Area
Highlands County, FL
Vacancy
6.50%
Lease Rate
$13.80 /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%
$283,240
Cap Rate 7%
$202,314
Cap Rate 9%
$157,356
Alternative Uses
Best Use
Multifamily LT 5
$202.3K
$177.0K – $236.0K
NOI $14,162 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$188.0K
$164.5K – $219.4K
NOI $13,161 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$326.2K
$285.4K – $380.6K
NOI $22,835 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Explore this area
Business Placement
Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
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?
Duplex - Duplex with two 2-bedroom units, each with in-unit laundry and a private enclosed back porch.
Where is this duplex located?
The property is located at 139 Serenity Ave Lake Placid, FL.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two separate 2BR/1BA units; In‑unit laundry plus private enclosed back porch; Brand new roof installed in 2024
