2-Unit Residential
New
For Sale
$190,000
101 LAKE HUNTER DRIVE #11, Lakeland, FL 33803
Two separate residences provide a flexible configuration for occupancy or leasing within Lake Hunter Villas.
Property Size903 SF
Price / SF$210.41
Days on Market5
Property Features for 101 LAKE HUNTER DRIVE #11
General Information
Standard status
Active
Size
903 SF
Property subtype
Half Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1980
Listing Agency:
KELLER WILLIAMS REALTY SMART
(863) 577-1234
Listed By:
Daryl Ash, II · License #3283301
Source:
Dennisrealty
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 17 at 5:59AM
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 KELLER WILLIAMS REALTY SMART
Investment Insights
Based on property information with market context.
This duplex includes units 11 and 12 at 101 Lake Hunter Drive in Lakeland, Florida. Built in 1980, the property provides two residential units within the Lake Hunter Villas community.
The property is positioned in the Lake Hunter area, with downtown Lakeland dining, shopping, and local attractions described as minutes away. Its two-unit configuration supports either multi-family occupancy or a combination of personal use and leasing.
The property is positioned in the Lake Hunter area, with downtown Lakeland dining, shopping, and local attractions described as minutes away. Its two-unit configuration supports either multi-family occupancy or a combination of personal use and leasing.
Key Highlights
- Two‑unit duplex comprising units 11 and 12
- Built in 1980
- Located in Lake Hunter Villas
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
667
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide a flexible configuration for occupancy or leasing within Lake Hunter Villas.
Where is this duplex located?
The property is located at 101 LAKE HUNTER DRIVE #11 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: Two‑unit duplex comprising units 11 and 12; Built in 1980; Located in Lake Hunter Villas
