Furnished Two-Bedroom
For Sale
$159,900
1815 Key Lake Drive, Sebring, FL 33875
Residential, Single Story, Sebring, FL
Property Size1,248 SF
Lot Size0.08 Acres
Price / SF$128.13
Days on Market272
Property Features for 1815 Key Lake Drive
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3 WATER
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Driveway
Patio and Porch features
Patio
Pets allowed
No
Interior features
BB / HS Internet Available, Blinds, Cable TV Available
Exterior features
Bulkhead/Sea Wall, Patio, Stucco, Well Irrigation
Appliances
Dishwasher, Dryer, Refrigerator(s), Stove(s) / Range(s) Oven(s), Washer, Wtr Heater-Electric
View
Lake
Directions
At the INTERSECTION of US HIGHWAY 27 S and HAMMOCK RD, Travel WEST on HAMMOCK RD. Turn LEFT onto LAKEWOOD RD. Remain on LAKEWOOD RD straight through first 4-way stop (intersection of LAKEWOOD RD and GOLFVIEW RD). Remain on LAKEWOOD RD (which transitions into KEY LAKE DR) straight through second 4-way stop onto KEY LAKE DR. The property is located to the RIGHT.
Standard status
Active
APN
C-24-35-28-060-0040-0285
Size
1,248 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
NWLY PORT OF LOT 28-AKA UNIT 5 OF KEY LAKE HOMES PER OR 2133-PG 429 BEING NWLY 1/2 OF A DUPLEX ON LOT 28 + INT IN COMMON AREAS
Tax Annual Amount
1830
HOA Fee
$300 Monthly
Legal Description
NWLY PORT OF LOT 28-AKA UNIT 5 OF KEY LAKE HOMES PER OR 2133-PG 429 BEING NWLY 1/2 OF A DUPLEX ON LOT 28 + INT IN COMMON AREAS
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water front
1
Amenities
patio
community pool
shuffleboard court
indoor laundry
Building Details
Year built
1987
Floors in Building
1
Flooring type
Tile
Building materials
Concrete Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX REALTY PLUS · RE/MAX International
(863) 385-0077
Listed By:
Emily Jones · License #3402440
(863) 446-3246
Added: Dec 11, 2025
Changed: Sep 2
Last Checked: Sep 9 at 7:06PM
MLS# 320045
Copyright © 2026 Heartland Multiple Listing Service, Inc. 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 furnished duplex offers 1,248 square feet of single-story living with two bedrooms and two bathrooms. Tile flooring extends throughout the home, while the kitchen includes a dishwasher, refrigerator, range, washer, and dryer. An indoor laundry closet, central air conditioning, electric heating, and a patio add everyday convenience. The property is constructed with concrete block and features a shingle roof.
The patio faces an inground community pool, shuffleboard court, and Key Lake, creating an outdoor setting for casual use and relaxation. The property is located at 1815 Key Lake Drive in Sebring, Florida. Recent property updates include a new septic drainfield in 2023 and a new roof in 2024; the HVAC system dates to 2012.
The patio faces an inground community pool, shuffleboard court, and Key Lake, creating an outdoor setting for casual use and relaxation. The property is located at 1815 Key Lake Drive in Sebring, Florida. Recent property updates include a new septic drainfield in 2023 and a new roof in 2024; the HVAC system dates to 2012.
Key Highlights
- 1,248‑square‑foot duplex with 2 bedrooms and 2 bathrooms
- Furnished single‑story layout with tile flooring throughout
- Patio overlooks the inground community pool, shuffleboard court, and Key Lake
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
$11,272
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
7.05%
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%
$225,440
$225.4K
Cap Rate 7%
$161,029
$161.0K
Cap Rate 9%
$125,244
$125.2K
Market Conditions
NOI Build-Up for 1,248 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
$17.2K $13.80/SF
− Vacancy
−$1.1K −$0.90/SF
EGI
$16.1K $12.90/SF
− OpEx
−$4.8K −$3.87/SF
NOI
$11.3K $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%
$225,440
Cap Rate 7%
$161,029
Cap Rate 9%
$125,244
Alternative Uses
Best Use
Multifamily LT 5
$161.0K
$140.9K – $187.9K
NOI $11,272 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$149.6K
$130.9K – $174.6K
NOI $10,475 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$259.6K
$227.2K – $302.9K
NOI $18,175 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 33875, FL
11,004
Population
5,655
Households
1.9
Avg Household Size
53
Median Age
26%
College-Educated
92%
High-School Grad
53.4 sq mi
ZIP Area
206
Density / Sq Mi
$76,990
Median Household Income
$48,235
Median Earnings
$1,130
Median Rent
$216,500
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 - Single-story home with tile floors, a private patio, and access to shared recreational amenities.
Where is this duplex located?
The property is located at 1815 Key Lake Drive Sebring, FL.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 1,248‑square‑foot duplex with 2 bedrooms and 2 bathrooms; Furnished single‑story layout with tile flooring throughout; Patio overlooks the inground community pool, shuffleboard court, and Key Lake
