Two-Unit Duplex with Remodeled
New
For Sale
$299,990
106-108 W ORANGE AVENUE, Lake Wales, FL 33853
Both residences include full kitchens, with one interior recently updated and tile flooring throughout the other.
Property Size1,664 SF
Price / SF$180.28
Days on Market5
Property Features for 106-108 W ORANGE AVENUE
General Information
Standard status
Active
Size
1,664 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
2011
Buildings
1
Listing Agency:
RE/MAX TITANIUM GROUP
(352) 241-6363
Listed By:
Kristi Quick · License #3172148
(863) 559-6104
Source:
Endlesssummerrealty
Added: Oct 7
Changed: Oct 11
Last Checked: Oct 11 at 9:23AM
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 RE/MAX TITANIUM GROUP
Investment Insights
Based on property information with market context.
This 2011 duplex contains two residences, each configured with two bedrooms, one bathroom, and a full kitchen. The combined building area is 1,664 square feet. One unit has undergone a complete interior remodel, while the other has tile flooring throughout.
Located at 106-108 W Orange Avenue in Lake Wales, Florida, the property offers two separate living spaces within a single duplex. The unit layouts and interior features are consistent with the supplied property details.
Located at 106-108 W Orange Avenue in Lake Wales, Florida, the property offers two separate living spaces within a single duplex. The unit layouts and interior features are consistent with the supplied property details.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,664 square feet of building area
- Full kitchen in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,643
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,860
$352.9K
Cap Rate 7%
$252,043
$252.0K
Cap Rate 9%
$196,033
$196.0K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$27.0K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$25.2K $15.15/SF
− OpEx
−$7.6K −$4.54/SF
NOI
$17.6K $10.60/SF
Area
Polk County, 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%
$352,860
Cap Rate 7%
$252,043
Cap Rate 9%
$196,033
Alternative Uses
Best Use
Multifamily LT 5
$252.0K
$220.5K – $294.1K
NOI $17,643 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$225.2K
$197.0K – $262.7K
NOI $15,761 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$399.9K
$349.9K – $466.5K
NOI $27,991 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
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 - Both residences include full kitchens, with one interior recently updated and tile flooring throughout the other.
Where is this duplex located?
The property is located at 106-108 W ORANGE AVENUE Lake Wales, FL.
What is the asking price?
The asking price for this property is $299,990.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,664 square feet of building area; Full kitchen in each residence
