Remodeled Waterfront
For Sale
$315,000
101-103 Jasmine CT, Lake Placid, FL 33852
MULTI_FAMILY - Lake Placid, FL
Property Size1,808 SF
Lot Size0.25 Acres
Price / SF$174.23
Days on Market30
Property Features for 101-103 Jasmine CT
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
3
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Parking
4
Window features
Blinds
Exterior features
Fence
Fencing
Fenced
Subdivision
SUNN LAKES
Lot features
Corner Lot, 1/4 to 1/2 Acre Lot
Standard status
Active
APN
C 22 37 30 010 00B0 0010
Size
1,808 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNN LAKES EST SEC 1 PB 8-PG 10 LOTS 1 + 2 BLK B
Tax Annual Amount
3091
Legal Description
SUNN LAKES EST SEC 1 PB 8-PG 10 LOTS 1 + 2 BLK B
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well
Water front features
Lake
Water front
1
Amenities
boat ramp
tennis
pickleball
clubhouse
Building Details
Year built
1962
Floors in Building
1
Flooring type
Laminate
Building materials
Block, Frame, Stucco
Roof type
Aluminum
Listing Agency:
Realty Empire Incorporated
(786) 664-7710
Listed By:
Stephanie Leon · License #3196121
(786) 664-7710
Added: Jul 18
Changed: Aug 4
Last Checked: Aug 16 at 2:06PM
MLS# A11990618
Copyright © 2026 Miami REALTORS®. 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 remodeled waterfront duplex at 101-103 Jasmine Ct features two separate houses on one property, each with updated finishes and appliances. Unit 1 offers two bedrooms, one bathroom, a sun room, and a laundry room with a washer/dryer installed in 2025. Unit 2 offers one bedroom, one bathroom, a sun room, and additional storage space. Updates include shaker-style kitchens, quartz counters, stainless steel appliances, newer A/C units from 2023, a brand-new water filtration system in 2025, and modern metal (aluminum) roofs. The property sits on a huge one-quarter-acre corner lot with canal access to Lake Grassy, making it convenient to bring a boat or jet skis. The exterior includes fencing.
The property is located within the Sun and Lakes community, which offers on-site amenities including a boat ramp, tennis, pickleball courts, and a clubhouse.
Additional site details include central heating and central air, laminate flooring, block/frame/stucco construction, well water service, and a septic tank sewer system.
The property is located within the Sun and Lakes community, which offers on-site amenities including a boat ramp, tennis, pickleball courts, and a clubhouse.
Additional site details include central heating and central air, laminate flooring, block/frame/stucco construction, well water service, and a septic tank sewer system.
Key Highlights
- Two separate houses on one lot with Unit 1 and Unit 2 layouts
- One‑quarter‑acre corner lot with canal access to Lake Grassy for boat or jet ski use
- Newer A/C installed in 2023, plus a brand‑new water filtration system in 2025
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
$16,330
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
5.18%
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%
$326,600
$326.6K
Cap Rate 7%
$233,286
$233.3K
Cap Rate 9%
$181,444
$181.4K
Market Conditions
NOI Build-Up for 1,808 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
$25.0K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$23.3K $12.90/SF
− OpEx
−$7.0K −$3.87/SF
NOI
$16.3K $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%
$326,600
Cap Rate 7%
$233,286
Cap Rate 9%
$181,444
Alternative Uses
Best Use
Multifamily LT 5
$233.3K
$204.1K – $272.2K
NOI $16,330 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$216.8K
$189.7K – $252.9K
NOI $15,175 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$376.1K
$329.1K – $438.8K
NOI $26,330 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
27
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
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled duplex on a canal with separate units, updated kitchens and appliances, and newer air conditioning.
Where is this duplex located?
The property is located at 101-103 Jasmine CT Lake Placid, FL.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two separate houses on one lot with Unit 1 and Unit 2 layouts; One‑quarter‑acre corner lot with canal access to Lake Grassy for boat or jet ski use; Newer A/C installed in 2023, plus a brand‑new water filtration system in 2025
