Lake-View Duplex with
For Sale
$599,999
1-2-429 Lake June Dr, Lake Placid, FL 33852
Age-restricted community setting with private dock access, partially remodeled interiors, and proximity to downtown amenities.
Property Size2,397 SF
Price / SF$250.31
Days on Market20
Property Features for 1-2-429 Lake June Dr
General Information
Standard status
Active
Size
2,397 SF
Total Parking Spaces
4
Property subtype
Residential Income
Additional Details
HOA Fee
$50
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,778
Amenities
Private Balcony
private boat dock
small clubhouse
Gazebo in yard
Listing Agency:
Florida's Best Realty Services
(201) 953-3589
Listed By:
Michelle Kaplan
(201) 953-3589
Source:
Exprealty
Added: Jul 28
Changed: Aug 14
Last Checked: Aug 16 at 11:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Florida's Best Realty Services
Investment Insights
Based on property information with market context.
This legal duplex contains 2,397 square feet and offers a combination of residential flexibility and lake-oriented outdoor space. The property features direct views of Lake June in Winter, a private balcony, pure wood floors and finishes, partially remodeled interiors, four garage spaces, additional storage, and a gazebo in the yard. One unit may be occupied while the other is rented, subject to applicable community requirements.
Located in Lake June Hills, a 55-and-over community, the property is within walking distance of downtown Lake Placid and near parks, shops, and Publix. Community amenities include a private boat dock with a dock ramp for boat or jetski access and a small clubhouse beside a park. All residents must be over 55.
Located in Lake June Hills, a 55-and-over community, the property is within walking distance of downtown Lake Placid and near parks, shops, and Publix. Community amenities include a private boat dock with a dock ramp for boat or jetski access and a small clubhouse beside a park. All residents must be over 55.
Key Highlights
- 2,397‑square‑foot legal duplex in Lake Placid
- Direct views of Lake June in Winter with a private balcony
- Four garage spaces plus additional storage
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
$21,650
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
3.61%
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%
$433,000
$433.0K
Cap Rate 7%
$309,286
$309.3K
Cap Rate 9%
$240,556
$240.6K
Market Conditions
NOI Build-Up for 2,397 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
$33.1K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$30.9K $12.90/SF
− OpEx
−$9.3K −$3.87/SF
NOI
$21.6K $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%
$433,000
Cap Rate 7%
$309,286
Cap Rate 9%
$240,556
Alternative Uses
Best Use
Multifamily LT 5
$309.3K
$270.6K – $360.8K
NOI $21,650 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$287.4K
$251.5K – $335.3K
NOI $20,119 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$498.7K
$436.4K – $581.8K
NOI $34,908 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
535
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Age-restricted community setting with private dock access, partially remodeled interiors, and proximity to downtown amenities.
Where is this duplex located?
The property is located at 1-2-429 Lake June Dr Lake Placid, FL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 2,397‑square‑foot legal duplex in Lake Placid; Direct views of Lake June in Winter with a private balcony; Four garage spaces plus additional storage
