Two-Unit Duplex with Remodeled
For Sale
$299,890
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$180.22
Days on Market29
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: Nov 3
Last Checked: Nov 3 at 6:38AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 5.26%
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.
How Realmo checks its estimates
Property Analytics
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
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 $299,890.
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
