Updated Duplex
For Sale
$255,000
1436 SHIRLEY Drive, Lakeland, FL 33810
Residential, LAKELAND, FL
Property Size1,256 SF
Lot Size0.12 Acres
Price / SF$203.03
Days on Market53
Property Features for 1436 SHIRLEY Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Dining Room, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Open
Patio and Porch features
Porch
Interior features
Cathedral Ceiling(s), Ceiling Fans(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor, Window Treatments
Exterior features
Private Yard, Rain Gutters
Appliances
Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
PLACES NORTH
Lot features
City Limits, Landscaped, Level, Paved
Directions
From Hwy 98 go West on Gib-Galloway Rd. to South on Shirley Dr. to address.
Standard status
Active
APN
23-27-26-010014-000121
Size
1,256 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLACES NORTH PB 94 PG 41 LOT 12 W1/2
Tax Annual Amount
1966
Legal Description
PLACES NORTH PB 94 PG 41 LOT 12 W1/2
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
2001
Floors in Building
2
Flooring type
Carpet, Tile - Ceramic
Building materials
Block, Stucco
Roof type
Shingle
Architectural style
Contemporary
Listing Agency:
HARPER REALTY FL, LLC
(863) 687-8020
Listed By:
Travis Redder · License #3164345
(863) 698-6368
Added: Jul 15
Changed: Sep 2
Last Checked: Sep 5 at 4:06AM
MLS# L4963526
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 1,256-square-foot duplex property on a 0.12-acre lot was built in 2001 and includes three bedrooms, two bathrooms, a combined living and dining area, and a first-floor primary bedroom. Ceramic tile extends through the main living spaces, while the bedrooms offer walk-in closets. The interior includes a cathedral ceiling, ceiling fans, window treatments, and a kitchen equipped with a range, refrigerator, microwave, dishwasher, washer, and dryer.
Recent improvements include a roof installed in 2022, windows added in 2021, a new AC system in 2026, and a remodeled second bathroom completed in 2026. The property also has central electric heating and cooling, a block-and-stucco exterior, shingle roofing, a porch, rain gutters, and an open parking area. A garage with overhead storage and a fully fenced backyard provide additional utility. There is no HOA, and short-term rental or Airbnb use is allowed. The property is near shopping, dining, schools, and I-4 along the Hwy 98 corridor.
Recent improvements include a roof installed in 2022, windows added in 2021, a new AC system in 2026, and a remodeled second bathroom completed in 2026. The property also has central electric heating and cooling, a block-and-stucco exterior, shingle roofing, a porch, rain gutters, and an open parking area. A garage with overhead storage and a fully fenced backyard provide additional utility. There is no HOA, and short-term rental or Airbnb use is allowed. The property is near shopping, dining, schools, and I-4 along the Hwy 98 corridor.
Key Highlights
- 1,256 SF duplex property on a 0.12‑acre lot
- Roof replaced in 2022; windows updated in 2021
- New AC system and remodeled second bathroom completed in 2026
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
$13,317
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
5.22%
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%
$266,340
$266.3K
Cap Rate 7%
$190,243
$190.2K
Cap Rate 9%
$147,967
$148.0K
Market Conditions
NOI Build-Up for 1,256 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
$20.3K $16.20/SF
− Vacancy
−$1.3K −$1.05/SF
EGI
$19.0K $15.15/SF
− OpEx
−$5.7K −$4.54/SF
NOI
$13.3K $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%
$266,340
Cap Rate 7%
$190,243
Cap Rate 9%
$147,967
Alternative Uses
Best Use
Multifamily LT 5
$190.2K
$166.5K – $222.0K
NOI $13,317 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$170.0K
$148.7K – $198.3K
NOI $11,897 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$301.8K
$264.1K – $352.1K
NOI $21,128 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 33810, FL
52,037
Population
21,836
Households
2.4
Avg Household Size
42
Median Age
20%
College-Educated
88%
High-School Grad
64.6 sq mi
ZIP Area
806
Density / Sq Mi
$69,738
Median Household Income
$38,416
Median Earnings
$1,407
Median Rent
$245,300
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 - No-HOA property with short-term rental permission, recent system upgrades, and a fenced outdoor area.
Where is this duplex located?
The property is located at 1436 SHIRLEY Drive Lakeland, FL.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 1,256 SF duplex property on a 0.12‑acre lot; Roof replaced in 2022; windows updated in 2021; New AC system and remodeled second bathroom completed in 2026
