Building Details

Year Built 1973

Listing Agency: EXP REALTY LLC Show Phone

Listed By: Gina McWilliams · License #3433255 Show Phone

Source: Exitrealty

Added: Jan 29, 2025 Changed: Sep 2 Last Checked: Sep 15 at 5:04AM

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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 1,416-square-foot duplex, built in 1973, includes a two-bedroom, one-bath configuration, a fenced backyard, and designated parking serving each unit. One side is being remodeled to provide refreshed living space, while the other is leased through October 2025.

Located at 1113 Roselle Avenue in Lakeland, Florida, the property also has planned exterior improvements consisting of gray paint and new outdoor lighting. The layout combines existing rental occupancy with a unit in renovation, creating a two-unit residential income property with separate parking and outdoor space.

Key Highlights

• 1,416 SF duplex built in 1973
• Two‑bedroom, one‑bath configuration
• Fenced backyard included

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,014

Cap Rate

5.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$300,280 $300.3K

Cap Rate 7%

$214,486 $214.5K

Cap Rate 9%

$166,822 $166.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,416 SF

Gross rent

$22.9K $16.20/SF

− Vacancy

−$1.5K −$1.05/SF

EGI

$21.4K $15.15/SF

− OpEx

−$6.4K −$4.54/SF

NOI

$15.0K $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%

$300,280

Cap Rate 7%

$214,486

Cap Rate 9%

$166,822

Alternative Uses

Best Use

Multifamily LT 5

$214.5K

$187.7K – $250.2K (±1% cap)

NOI $15,014 @ 7.0% cap · market cap 5.29%

Second Best

Apartment 5plus

$191.6K

$167.7K – $223.5K (±1% cap)

NOI $13,412 @ 7.0% cap · market cap 4.73%

Theoretical Best

Office A

$340.3K

$297.7K – $397.0K (±1% cap)

NOI $23,819 @ 7.0% cap · market cap 8.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Electrical Service Skin Care Clinic HVAC Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

356

Businesses Nearby

Explore this area Business Placement

Demographics for 33805, FL

26,954

Population

11,908

Households

2.3

Avg Household Size

36

Median Age

17%

College-Educated

82%

High-School Grad

26.0 sq mi

ZIP Area

1,037

Density / Sq Mi

$55,565

Median Household Income

$35,077

Median Earnings

$1,179

Median Rent

$173,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit rental property with dedicated parking and one unit undergoing renovation.

Where is this duplex located?

The property is located at 1113 ROSELLE AVENUE Lakeland, FL.

What is the asking price?

The asking price for this property is $283,800.

What are key features of this property?

This property features: 1,416 SF duplex built in 1973; Two‑bedroom, one‑bath configuration; Fenced backyard included