Duplex With Separate
For Sale
$299,900
3221 & 3225 CRUTCHFIELD Road, Lakeland, FL 33805
Residential Income, LAKELAND, FL
Property Size2,515 SF
Lot Size0.57 Acres
Price / SF$119.24
Days on Market185
Property Features for 3221 & 3225 CRUTCHFIELD Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Dining Room, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 5
Interior features
Living Room/Dining Room Combo
Exterior features
Storage
Subdivision
NOT IN A SUBDIVISION
Lot features
City Limits, In County, Paved
Directions
Continue on FL-570 W/Polk Pkwy to FL-546. Take exit 28 from I-4 E Merge onto FL-570 W/Polk Pkwy Take the exit onto I-4 E toward Orlando Take exit 28 toward US-92/Lakeland Follow FL-546 and Crutchfield Rd to your destination Merge onto FL-546 Slight left onto Crutchfield Rd
Standard status
Active
APN
23-28-09-000000-022080
Size
2,515 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N 86 FT OF THE S 806 FT OF THE E1/4 OF SE1/4 OF SE1/4 LESS R/W FOR I-4
Tax Annual Amount
3458
Legal Description
N 86 FT OF THE S 806 FT OF THE E1/4 OF SE1/4 OF SE1/4 LESS R/W FOR I-4
Utilities
Sewer type
Septic Tank
Water source
Public
Building Details
Year built
1960
Number of units
2
Building materials
Frame
Roof type
Membrane, Shingle
Additional Structures
Storage
Listing Agency:
REMAX EXPERTS · RE/MAX International
(863) 802-5262
Listed By:
Amanda Wright · License #3385585
(863) 221-5230
Added: Mar 3
Changed: Aug 26
Last Checked: Sep 4 at 8:06PM
MLS# L4959533
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 duplex property includes two separate residences on a 0.57-acre parcel. The primary home provides three bedrooms, two bathrooms, and a bonus room suited to additional living, dining, office, or sleeping space. Hard flooring and tile are used throughout portions of the home, while storage space, a combination living and dining room, and a spacious yard add practical utility.
A detached two-bedroom, one-bath cottage includes its own kitchen and separate driveway access. Both residences are currently tenant occupied. The property is zoned R-2 and has public water with septic service. Built in 1960, the improvements use frame construction and include membrane and shingle roofing. I-4 and Highway 92 are nearby, with access to downtown Lakeland, shopping, and dining.
A detached two-bedroom, one-bath cottage includes its own kitchen and separate driveway access. Both residences are currently tenant occupied. The property is zoned R-2 and has public water with septic service. Built in 1960, the improvements use frame construction and include membrane and shingle roofing. I-4 and Highway 92 are nearby, with access to downtown Lakeland, shopping, and dining.
Key Highlights
- Two residences on a 0.57‑acre lot
- Primary home includes 3 bedrooms, 2 bathrooms, and a bonus room
- Detached 2‑bedroom, 1‑bath cottage with kitchen
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
$26,666
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
8.89%
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%
$533,320
$533.3K
Cap Rate 7%
$380,943
$380.9K
Cap Rate 9%
$296,289
$296.3K
Market Conditions
NOI Build-Up for 2,515 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
$40.7K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$38.1K $15.15/SF
− OpEx
−$11.4K −$4.54/SF
NOI
$26.7K $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%
$533,320
Cap Rate 7%
$380,943
Cap Rate 9%
$296,289
Alternative Uses
Best Use
Multifamily LT 5
$380.9K
$333.3K – $444.4K
NOI $26,666 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$340.3K
$297.8K – $397.0K
NOI $23,822 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$604.4K
$528.8K – $705.1K
NOI $42,306 @ 7.0% cap · market cap 14.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 33805, FL
26,954
Population
11,908
Households
2.3
Avg Household Size
36
Median Age
17%
College-Educated
82%
High-School Grad
26.0 sq mi
ZIP Area
1,037
Density / Sq Mi
$55,565
Median Household Income
$35,077
Median Earnings
$1,179
Median Rent
$173,800
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 - Two residences share an oversized parcel, with separate access and tenant occupancy supporting flexible residential use.
Where is this duplex located?
The property is located at 3221 & 3225 CRUTCHFIELD Road Lakeland, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two residences on a 0.57‑acre lot; Primary home includes 3 bedrooms, 2 bathrooms, and a bonus room; Detached 2‑bedroom, 1‑bath cottage with kitchen
