Duplex Villa with Enclosed Florida
For Sale
$219,900
101 Edgewater Drive, Lake Placid, FL 33852
Residential, Single Story, Lake Placid, FL
Property Size1,353 SF
Lot Size0.20 Acres
Price / SF$162.53
Days on Market58
Property Features for 101 Edgewater Drive
General Information
Property type
Residential
Property subtype
Duplex
Zoning
M1FUD
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bathroom 1
Parking features
Garage
Pets allowed
Yes
Interior features
Blinds, Cable TV Available, Ceiling Fans, Garage Door Opener
Exterior features
Central Irrigation
Appliances
Dishwasher, Dryer
Directions
US 27 S TO LAKE FRANCIS ROAD TO COVERED BRIDGE TO VENETIAN BLVD TO RIGHT ON EDGEWATER. HOME IS ON THE LEFT.
Standard status
Active
APN
C-15-36-29-060-0060-0210
Size
1,353 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VENETIAN VILLAGE REVISED PB 11- PG 12 LOT 21 BLK 6
Tax Annual Amount
652
HOA Fee
$336 Quarterly
Legal Description
VENETIAN VILLAGE REVISED PB 11- PG 12 LOT 21 BLK 6
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Amenities
pool
pickle ball
shuffleboard
club house
exercise room
Building Details
Year built
1980
Floors in Building
1
Flooring type
Carpet, 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:
Eloise Best · License #SL0634619
(863) 381-0170
Added: Jul 20
Changed: Sep 13
Last Checked: Sep 15 at 8:06AM
MLS# 326700
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.
Well maintained duplex villa featuring two bedrooms and 1.5 bathrooms with a garage in the middle of the home. The interior includes tile and carpet flooring, central electric heating, and central air cooling. Construction is concrete block, with a shingle roof.
Recent upgrades include new kitchen cabinets with a pantry, a new bathroom, appliances replaced within 5 years, a new AC, and a hot water tank replaced within 5 years. The enclosed Florida room has new storm windows, and the seller has installed hurricane protectors on the windows. The driveway was redone 3 yrs ago. The home includes some furniture and furnishings.
Set on a 0.2-acre lot with 1,353 square feet and built in 1980. Sewer service is public sewer. The surrounding neighborhood is an active and friendly 55+ community with a pool, pickle ball, shuffleboard, clubhouse, and an exercise room.
Recent upgrades include new kitchen cabinets with a pantry, a new bathroom, appliances replaced within 5 years, a new AC, and a hot water tank replaced within 5 years. The enclosed Florida room has new storm windows, and the seller has installed hurricane protectors on the windows. The driveway was redone 3 yrs ago. The home includes some furniture and furnishings.
Set on a 0.2-acre lot with 1,353 square feet and built in 1980. Sewer service is public sewer. The surrounding neighborhood is an active and friendly 55+ community with a pool, pickle ball, shuffleboard, clubhouse, and an exercise room.
Key Highlights
- Enclosed Florida room with new storm windows; hurricane protectors installed on windows
- New AC and hot water tank replaced within 5 years; appliances replaced within 5 years
- Driveway redone 3 yrs ago
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
$11,356
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
5.16%
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%
$227,120
$227.1K
Cap Rate 7%
$162,229
$162.2K
Cap Rate 9%
$126,178
$126.2K
Market Conditions
NOI Build-Up for 1,353 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
$21.9K $16.20/SF
− Vacancy
−$1.3K −$0.94/SF
EGI
$20.6K $15.26/SF
− OpEx
−$9.3K −$6.87/SF
NOI
$11.4K $8.39/SF
Area
Highlands County, FL
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$227,120
Cap Rate 7%
$162,229
Cap Rate 9%
$126,178
Alternative Uses
Best Use
Apartment 5plus
$162.2K
$142.0K – $189.3K
NOI $11,356 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.5K
$246.3K – $328.4K
NOI $19,704 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
14
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
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Frequently Asked Questions
What type of property is this?
Single family property - Well maintained duplex villa with two bedrooms, 1.5 baths, central AC, and enclosed Florida room in a 55+ community.
Where is this single family property located?
The property is located at 101 Edgewater Drive Lake Placid, FL.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Enclosed Florida room with new storm windows; hurricane protectors installed on windows; New AC and hot water tank replaced within 5 years; appliances replaced within 5 years; Driveway redone 3 yrs ago
