Two-Bedroom Duplex
For Sale
$149,000
1413 THOUSAND ROSES Drive S, Lake Wales, FL 33853
Residential, LAKE WALES, FL
Property Size858 SF
Lot Size0.09 Acres
Price / SF$173.66
Days on Market43
Property Features for 1413 THOUSAND ROSES Drive S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
Window features
Blinds
Patio and Porch features
Porch
Pets allowed
Dogs OK, Cats OK
Interior features
Ceiling Fans(s)
Appliances
Dishwasher, Range, Refrigerator
Subdivision
THOUSAND ROSES
Directions
FROM HWY 60 EAST TURN NEXT TO LITTLE CEASARS AND THEN RIGHT INTO COMMUNITY HOME IS STRAIGHT IN FRONT OF GATE
Standard status
Active
APN
28-30-06-939399-000211
Size
858 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
THOUSAND ROSES PB 108 PG 32 LOT 21 N 49.72 FT
Tax Annual Amount
1367
Legal Description
THOUSAND ROSES PB 108 PG 32 LOT 21 N 49.72 FT
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Flooring type
Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
REAL ESTATE BROKERS USA, INC.
(863) 242-6624
Listed By:
Debbie Bradbury · License #3231911
(863) 247-8096
Added: Aug 16
Changed: Sep 12
Last Checked: Sep 27 at 10:06PM
MLS# P4939609
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 858-square-foot half duplex includes two bedrooms, two bathrooms, a comfortable living area, and ample storage. Laminate flooring extends throughout the home, while central heating and central air support year-round comfort. The kitchen is equipped with a dishwasher, range, and refrigerator, and the home also features ceiling fans and a porch.
Built in 2004, the property sits on a 0.09-acre lot within a gated 55+ community. The shingle roof is just two years old. Public water and public sewer serve the residence, with cable available. Shopping, dining, and medical facilities are described as nearby.
Built in 2004, the property sits on a 0.09-acre lot within a gated 55+ community. The shingle roof is just two years old. Public water and public sewer serve the residence, with cable available. Shopping, dining, and medical facilities are described as nearby.
Key Highlights
- 858 square feet with 2 bedrooms and 2 bathrooms
- Half duplex in a gated 55+ community
- 0.09‑acre lot
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
$9,097
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
6.11%
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%
$181,940
$181.9K
Cap Rate 7%
$129,957
$130.0K
Cap Rate 9%
$101,078
$101.1K
Market Conditions
NOI Build-Up for 858 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
$13.9K $16.20/SF
− Vacancy
−$903 −$1.05/SF
EGI
$13.0K $15.15/SF
− OpEx
−$3.9K −$4.54/SF
NOI
$9.1K $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%
$181,940
Cap Rate 7%
$129,957
Cap Rate 9%
$101,078
Alternative Uses
Best Use
Multifamily LT 5
$130.0K
$113.7K – $151.6K
NOI $9,097 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$116.1K
$101.6K – $135.5K
NOI $8,127 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$206.2K
$180.4K – $240.6K
NOI $14,433 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Half-duplex residence in a gated 55+ community with laminate flooring and public utilities.
Where is this duplex located?
The property is located at 1413 THOUSAND ROSES Drive S Lake Wales, FL.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 858 square feet with 2 bedrooms and 2 bathrooms; Half duplex in a gated 55+ community; 0.09‑acre lot
