Duplex Requiring Full
For Sale
$303,900
1047 / 1049 CAPTIVA Point, Lakeland, FL 33801
Residential Income, LAKELAND, FL
Property Size2,278 SF
Lot Size0.36 Acres
Price / SF$133.41
Days on Market133
Property Features for 1047 / 1049 CAPTIVA Point
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RES
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 2
Pets allowed
Yes
Exterior features
Lighting
Appliances
Range
Subdivision
SECRET COVE SUB
View
Lake
Elementary school
Clarence Boswell Elem
Middle school
Crystal Lake Middle/Jun
High school
Tenoroc Senior
Directions
From Highway 92 (Memorial Blvd): Head south on Reynolds Road. Turn right (west) onto Ned Engle Boulevard near the Food Mart. Turn right onto Pirates Way. Turn left onto Buccaneer Drive, proceed onto Captiva Point, the property is on the left.
Standard status
Active
APN
24-28-22-000000-021096
Size
2,278 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG SE COR NE1/4 OF SE1/4 RUN W 976.1 FT N 295.91 FT FOR POB RUN W 263.01 FT N 60 FT E 263.01 FT S 60 FT TO POB BEING LOT 62 OF UNRE SECRET COVE
Tax Annual Amount
4007
Legal Description
BEG SE COR NE1/4 OF SE1/4 RUN W 976.1 FT N 295.91 FT FOR POB RUN W 263.01 FT N 60 FT E 263.01 FT S 60 FT TO POB BEING LOT 62 OF UNRE SECRET COVE
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Number of units
2
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Brian Stephens · License #655038
(863) 647-8600
Added: Apr 17
Changed: Aug 20
Last Checked: Aug 27 at 7:06PM
MLS# L4961126
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 Lakeland duplex contains 2,278 square feet across two residential sides and is vacant for renovation. Built in 1979, the property uses block-and-concrete construction with a shingle roof, central heating, central air conditioning, and a range. The layout includes four bedrooms and four bathrooms in total, with the individual room details supporting both sides of the duplex.
The property occupies 0.36 acres and carries RES zoning. Public water and public sewer serve the site, while cable is available. Exterior lighting is also present. The address is near shopping, dining, major roadways, and downtown Lakeland, providing access to established daily conveniences and the broader city area.
The property occupies 0.36 acres and carries RES zoning. Public water and public sewer serve the site, while cable is available. Exterior lighting is also present. The address is near shopping, dining, major roadways, and downtown Lakeland, providing access to established daily conveniences and the broader city area.
Key Highlights
- Duplex property with both sides vacant and requiring renovation
- 2,278 square feet on a 0.36‑acre lot
- Four bedrooms and four bathrooms
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
$24,153
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
7.95%
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%
$483,060
$483.1K
Cap Rate 7%
$345,043
$345.0K
Cap Rate 9%
$268,367
$268.4K
Market Conditions
NOI Build-Up for 2,278 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
$36.9K $16.20/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$34.5K $15.15/SF
− OpEx
−$10.4K −$4.54/SF
NOI
$24.2K $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%
$483,060
Cap Rate 7%
$345,043
Cap Rate 9%
$268,367
Alternative Uses
Best Use
Multifamily LT 5
$345.0K
$301.9K – $402.6K
NOI $24,153 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$308.2K
$269.7K – $359.6K
NOI $21,577 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$547.4K
$479.0K – $638.7K
NOI $38,320 @ 7.0% cap · market cap 12.61%
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
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
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 - Vacant two-unit property with central heating and cooling, public utilities, and block-and-concrete construction.
Where is this duplex located?
The property is located at 1047 / 1049 CAPTIVA Point Lakeland, FL.
What is the asking price?
The asking price for this property is $303,900.
What are key features of this property?
This property features: Duplex property with both sides vacant and requiring renovation; 2,278 square feet on a 0.36‑acre lot; Four bedrooms and four bathrooms
