Duplex with Central
For Sale
$190,000
101 LAKE HUNTER Drive, Lakeland, FL 33803
MULTI_FAMILY - LAKELAND, FL
Property Size903 SF
Lot Size0.02 Acres
Price / SF$210.41
Days on Market18
Property Features for 101 LAKE HUNTER Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MF-12
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 2
Pets allowed
Yes
Interior features
Stone Counters
Exterior features
Lighting, Sidewalk
Appliances
Range, Refrigerator
Subdivision
LAKE HUNTER VILLAS
Elementary school
Dixieland Elem
Middle school
Southwest Middle School
High school
Kathleen High
Directions
Head toward W Patterson St, Turn left onto Ariana St, Turn left onto FL-563 N, Turn right onto Lake Hunter Dr, Turn right, Destination will be on the right.
Standard status
Active
APN
23-28-24-124510-000260
Size
903 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE HUNTER VILLAS PB 69 PG 34 LOT 26 & A 1/30 UNDIVIDED INTEREST IN TRACT A
Tax Annual Amount
1998
Legal Description
LAKE HUNTER VILLAS PB 69 PG 34 LOT 26 & A 1/30 UNDIVIDED INTEREST IN TRACT A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Carpet, Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY
(863) 577-1234
Listed By:
Daryl Ash, II · License #3283301
(863) 934-1548
Added: Jul 27
Changed: Aug 13
Last Checked: Aug 13 at 7:06AM
MLS# L4963905
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 at 101 Lake Hunter Drive includes units 11 and 12 within the Lake Hunter Villas community. The recorded property size is 903 square feet on a 0.02-acre lot. Interior features include stone counters, tile and carpet flooring, and both a range and refrigerator. Stucco construction, shingle roofing, central heating, and central air are also present. Public water and public sewer serve the property, with cable available.
The property is in Lakeland, near the Lake Hunter area and minutes from downtown Lakeland's dining, shopping, and local attractions. Exterior features include lighting and a sidewalk. The property was built in 1980 and is zoned MF-12.
The property is in Lakeland, near the Lake Hunter area and minutes from downtown Lakeland's dining, shopping, and local attractions. Exterior features include lighting and a sidewalk. The property was built in 1980 and is zoned MF-12.
Key Highlights
- Duplex comprising units 11 and 12
- 903 square feet on a 0.02‑acre lot
- MF‑12 zoning
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
$9,574
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
5.04%
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%
$191,480
$191.5K
Cap Rate 7%
$136,771
$136.8K
Cap Rate 9%
$106,378
$106.4K
Market Conditions
NOI Build-Up for 903 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
$14.6K $16.20/SF
− Vacancy
−$951 −$1.05/SF
EGI
$13.7K $15.15/SF
− OpEx
−$4.1K −$4.54/SF
NOI
$9.6K $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%
$191,480
Cap Rate 7%
$136,771
Cap Rate 9%
$106,378
Alternative Uses
Best Use
Multifamily LT 5
$136.8K
$119.7K – $159.6K
NOI $9,574 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$122.2K
$106.9K – $142.6K
NOI $8,553 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$217.0K
$189.9K – $253.2K
NOI $15,190 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 33803, FL
29,082
Population
15,086
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
1,752
Density / Sq Mi
$63,180
Median Household Income
$40,358
Median Earnings
$1,337
Median Rent
$236,200
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 - The property includes central heating and cooling, public water and sewer, and cable availability.
Where is this duplex located?
The property is located at 101 LAKE HUNTER Drive Lakeland, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Duplex comprising units 11 and 12; 903 square feet on a 0.02‑acre lot; MF‑12 zoning
