Two-Home Residential Income
3221 & 3225 CRUTCHFIELD Road Lakeland, FL 33805
For Sale
$299,900
MULTI_FAMILY - LAKELAND, FL
Property Size2,515 SF
Lot Size0.57 Acres
Price / SF$119.24
Days on Market144
Property Features for 3221 & 3225 CRUTCHFIELD Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- R-2
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 1, Dining Room, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 5
- Interior features
- Living Room/Dining Room Combo
- Exterior features
- Storage
- 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
Utilities
- Sewer type
- Septic Tank
- Water source
- Public
Building Details
- Year built
- 1960
- Number of units
- 2
- Building materials
- Frame
- Roof type
- Shingle, Membrane
- Additional Structures
- Storage
Listing Agency:
REMAX EXPERTS
(863) 802-5262
Listed By:
Amanda Wright · License #3385585
(863) 221-5230
Added: Mar 3
Changed: Jul 20
Last Checked: Jul 25 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 residential income property consists of two separate homes on one lot in an R-2 zoning district. The main home features 3 bedrooms and 2 bathrooms, along with a large bonus room that can serve as an additional sleeping or living space. Hard flooring and tile are noted throughout, supporting low-maintenance living.
A separate 2-bedroom, 1-bath guest cottage sits behind the main home and includes its own kitchen and separate driveway access for privacy. Both homes are currently tenant occupied.
The property totals approximately 0.57 acres and is located at 3221 & 3225 Crutchfield Road in Lakeland, Florida, minutes from I-4 and Highway 92, providing access to downtown Lakeland, shopping, dining, and major Central Florida destinations.
A separate 2-bedroom, 1-bath guest cottage sits behind the main home and includes its own kitchen and separate driveway access for privacy. Both homes are currently tenant occupied.
The property totals approximately 0.57 acres and is located at 3221 & 3225 Crutchfield Road in Lakeland, Florida, minutes from I-4 and Highway 92, providing access to downtown Lakeland, shopping, dining, and major Central Florida destinations.
Key Highlights
- Two homes on one property on an oversized 0.57‑acre lot—both currently tenant occupied
- Main home: 3 bedrooms and 2 bathrooms plus a large bonus room (can serve as a 4th bedroom or office/living space)
- Separate 2‑bedroom, 1‑bath guest cottage behind the main home, with its own kitchen
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.7k | $16.20 |
| − Vacancy | −$2.6k | −$1.05 |
| EGI | $38.1k | $15.15 |
| − OpEx | −$11.4k | −$4.54 |
| NOI | $26.7k | $10.60 |
2,515 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two tenant-occupied homes on one R-2 property, including a separate 2-bedroom cottage with its own driveway access.
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 homes on one property on an oversized 0.57‑acre lot—both currently tenant occupied; Main home: 3 bedrooms and 2 bathrooms plus a large bonus room (can serve as a 4th bedroom or office/living space); Separate 2‑bedroom, 1‑bath guest cottage behind the main home, with its own kitchen
