New Construction
For Sale
$739,999
1031 E Lime St, Lakeland, FL 33815
Two residences combine open living areas, upgraded kitchens, private bedroom suites, and covered outdoor space.
Property Size3,617 SF
Price / SF$204.59
Days on Market160
Property Features for 1031 E Lime St
General Information
Standard status
Active
Size
3,617 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$561
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Brian Stephens · License #296027
(863) 647-8600
Source:
Exprealty
Added: May 11
Changed: Oct 16
Last Checked: Oct 16 at 10:06AM
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 EXP REALTY LLC
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Investment Insights
Based on property information with market context.
This newly constructed duplex contains two separate two-story residences, each offering approximately 1,808 heated square feet. Both layouts feature open main-level living and dining areas with 10-foot ceilings, contemporary kitchens with quartz counters, center islands, stainless steel appliances, extensive cabinetry, and walk-in pantries. Inside laundry rooms, downstairs powder baths, and covered outdoor areas add practical functionality. Bedrooms are positioned upstairs, including owner suites with walk-in closets, dual-sink vanities, private water closets, and walk-in showers.
The property is located at 1031 E Lime St in Lakeland, near Downtown Lakeland, Florida Southern College, and Southeastern University. Local lakes, parks, recreational areas, shopping, and dining are also identified as nearby amenities. The two-unit configuration supports owner occupancy in one residence with the other available for leasing, or leasing both residences.
The property is located at 1031 E Lime St in Lakeland, near Downtown Lakeland, Florida Southern College, and Southeastern University. Local lakes, parks, recreational areas, shopping, and dining are also identified as nearby amenities. The two-unit configuration supports owner occupancy in one residence with the other available for leasing, or leasing both residences.
Key Highlights
- Two‑story duplex with approximately 1, 808 heated square feet per unit
- New construction with two separate residences
- 10‑foot ceilings in the main‑level great rooms and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,351
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,020
$767.0K
Cap Rate 7%
$547,871
$547.9K
Cap Rate 9%
$426,122
$426.1K
Market Conditions
NOI Build-Up for 3,617 SF
Gross rent
$58.6K $16.20/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$54.8K $15.15/SF
− OpEx
−$16.4K −$4.54/SF
NOI
$38.4K $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 Rate 5%
$767,020
Cap Rate 7%
$547,871
Cap Rate 9%
$426,122
Alternative Uses
Best Use
Multifamily LT 5
$547.9K
$479.4K – $639.2K
NOI $38,351 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$489.4K
$428.3K – $571.0K
NOI $34,260 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$869.2K
$760.6K – $1.01M
NOI $60,844 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
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Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences combine open living areas, upgraded kitchens, private bedroom suites, and covered outdoor space.
Where is this duplex located?
The property is located at 1031 E Lime St Lakeland, FL.
What is the asking price?
The asking price for this property is $739,999.
What are key features of this property?
This property features: Two‑story duplex with approximately 1, 808 heated square feet per unit; New construction with two separate residences; 10‑foot ceilings in the main‑level great rooms and dining areas
