Residential Income Property Half
New
For Sale
$149,000
1413 THOUSAND ROSES DRIVE S, Lake Wales, FL 33853
Two-bedroom, two-bath home with updated flooring and a recently replaced roof in a gated 55+ community.
Property Size858 SF
Price / SF$173.66
Days on Market4
Property Features for 1413 THOUSAND ROSES DRIVE S
General Information
Standard status
Active
Size
858 SF
Property subtype
Half Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Building Details
Year Built
2004
Listing Agency:
REAL ESTATE BROKERS USA, INC.
(863) 242-6624
Listed By:
Debbie Bradbury · License #3231911
Source:
Dennisrealty
Added: Aug 16
Changed: Aug 18
Last Checked: Aug 18 at 8:10AM
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 REAL ESTATE BROKERS USA, INC.
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, two-bath half duplex built in 2004. The home features an open interior layout, laminate flooring throughout, spacious bedrooms, storage, and a comfortable living area. The roof is two years old, adding a recent major improvement to the property.
Residents have access to a gated 55+ community setting, with shopping, dining, and medical facilities located nearby. The combination of a low-maintenance interior, established community environment, and practical two-bedroom configuration supports comfortable residential use.
Residents have access to a gated 55+ community setting, with shopping, dining, and medical facilities located nearby. The combination of a low-maintenance interior, established community environment, and practical two-bedroom configuration supports comfortable residential use.
Key Highlights
- Two‑bedroom, two‑bath half duplex
- Located in a gated 55+ community
- Laminate flooring throughout the home
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
$8,127
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
5.45%
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%
$162,540
$162.5K
Cap Rate 7%
$116,100
$116.1K
Cap Rate 9%
$90,300
$90.3K
Market Conditions
NOI Build-Up for 858 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
$15.8K $18.36/SF
− Vacancy
−$977 −$1.14/SF
EGI
$14.8K $17.22/SF
− OpEx
−$6.6K −$7.75/SF
NOI
$8.1K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$162,540
Cap Rate 7%
$116,100
Cap Rate 9%
$90,300
Alternative Uses
Best Use
Apartment 5plus
$116.1K
$101.6K – $135.5K
NOI $8,127 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$206.2K
$180.4K – $240.6K
NOI $14,433 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
505
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath home with updated flooring and a recently replaced roof in a gated 55+ community.
Where is this residential income property located?
The property is located at 1413 THOUSAND ROSES DRIVE S Lake Wales, FL.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath half duplex; Located in a gated 55+ community; Laminate flooring throughout the home
