Duplex with Metal
New
For Sale
$289,500
1510 Melady Avenue, Sebring, FL 33870
Residential, Single Story, Sebring, FL
Property Size1,680 SF
Lot Size0.25 Acres
Price / SF$172.32
Days on Market4
Property Features for 1510 Melady Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
Driveway
Patio and Porch features
Patio
Interior features
Blinds, Ceiling Fans
Exterior features
Patio, Shed/Workshop, Stucco
Appliances
Microwave, Refrigerator(s), Stove(s) / Range(s) Oven(s), Wtr Heater-Electric
Directions
South on US Hwy 27 and Lakeview, Turn left on Lakeview Drive, turn right on Kenilworth, Take a right on Melady Ave., Duplex is on the left.
Standard status
Active
APN
S-33-34-29-020-00C0-0030
Size
1,680 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ALTAMONT PLACE ADD PB 1-PG 72 LOT 3 + S 1/2 LOT 2 BLK C
Tax Annual Amount
3631
Legal Description
ALTAMONT PLACE ADD PB 1-PG 72 LOT 3 + S 1/2 LOT 2 BLK C
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1980
Floors in Building
1
Flooring type
Tile
Building materials
Concrete Block
Roof type
Metal
Architectural style
Other
Additional Structures
Workshop
Listing Agency:
RE/MAX REALTY PLUS · RE/MAX International
(863) 385-0077
Listed By:
Eric Rhoades · License #SL3409582
(863) 381-1096
Added: Oct 12
Last Checked: Oct 15 at 5:06PM
MLS# 328625
Copyright © 2026 Heartland Multiple Listing Service, Inc. 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 1,680-square-foot duplex contains two occupied units, each arranged with two bedrooms and one bathroom. Built in 1980, the property has a metal roof, concrete-block construction, central heating and air conditioning, and tile flooring. A patio and shed/workshop are also on site, along with driveway parking. Public sewer serves the property, and the remarks identify city water.
The 0.25-acre property is in Sebring, near shopping, dining, and medical facilities. The reported cap rate is 8.4%, including operating expenses. Both units are leased, providing an established rental configuration.
The 0.25-acre property is in Sebring, near shopping, dining, and medical facilities. The reported cap rate is 8.4%, including operating expenses. Both units are leased, providing an established rental configuration.
Key Highlights
- Two occupied rental units, each with 2 bedrooms and 1 bathroom
- Reported 8.4% cap rate, including operating expenses
- 1,680 square feet on a 0.25‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,174
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,480
$303.5K
Cap Rate 7%
$216,771
$216.8K
Cap Rate 9%
$168,600
$168.6K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$23.2K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.7K $12.90/SF
− OpEx
−$6.5K −$3.87/SF
NOI
$15.2K $9.03/SF
Area
Highlands County, FL
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$303,480
Cap Rate 7%
$216,771
Cap Rate 9%
$168,600
Alternative Uses
Best Use
Multifamily LT 5
$216.8K
$189.7K – $252.9K
NOI $15,174 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$201.4K
$176.3K – $235.0K
NOI $14,101 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$349.5K
$305.8K – $407.8K
NOI $24,466 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 33870, FL
24,238
Population
13,933
Households
1.7
Avg Household Size
51
Median Age
18%
College-Educated
84%
High-School Grad
95.3 sq mi
ZIP Area
254
Density / Sq Mi
$50,606
Median Household Income
$28,475
Median Earnings
$977
Median Rent
$154,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied, with matching two-bedroom, one-bathroom layouts and R2 zoning.
Where is this duplex located?
The property is located at 1510 Melady Avenue Sebring, FL.
What is the asking price?
The asking price for this property is $289,500.
What are key features of this property?
This property features: Two occupied rental units, each with 2 bedrooms and 1 bathroom; Reported 8.4% cap rate, including operating expenses; 1,680 square feet on a 0.25‑acre lot
