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 Market154
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: Sep 12
Last Checked: Oct 11 at 12:37PM
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
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.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
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
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 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
