Updated Residential Income
For Sale
$214,900
236 VILLAGE CREST COURT, Lakeland, FL 33809
Two-bedroom residence with a flexible loft, attached garage, and refreshed kitchen in Lakeland.
Property Size1,142 SF
Price / SF$188.18
Days on Market59
Property Features for 236 VILLAGE CREST COURT
General Information
Standard status
Active
Size
1,142 SF
Total Parking Spaces
1
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
backyard
Building Details
Building Size
1,142 SF
Year Built
1989
Stories
1
Listing Agency:
BHHS FLORIDA PROPERTIES GROUP
Listed By:
Jason Stone · License #3493955
(863) 701-2350
Source:
Tinaheim.kw
Added: Jul 7
Changed: Sep 2
Last Checked: Sep 2 at 1:31PM
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 BHHS FLORIDA PROPERTIES GROUP
Investment Insights
Based on property information with market context.
This residential income property offers 1,142 square feet of updated living space with two bedrooms, two bathrooms, and a loft that can serve as an office, media room, bonus area, or playroom. Tile flooring extends throughout the home, while refreshed paint, ceiling fans, lighting, and fixtures provide a cohesive interior finish. The kitchen includes new stainless-steel appliances and provides a central gathering area. A single-car garage and backyard add practical utility outside the main living areas.
Built in 1989, the residence is located in Lakeland with access to the interstate for travel toward Tampa, Orlando, and surrounding areas. The property is positioned within a residential neighborhood and combines flexible interior space with updated features and outdoor area.
Built in 1989, the residence is located in Lakeland with access to the interstate for travel toward Tampa, Orlando, and surrounding areas. The property is positioned within a residential neighborhood and combines flexible interior space with updated features and outdoor area.
Key Highlights
- 1,142 square feet of living space
- Two bedrooms and two bathrooms with a versatile loft
- New stainless‑steel kitchen appliances
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
$10,817
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
5.03%
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%
$216,340
$216.3K
Cap Rate 7%
$154,529
$154.5K
Cap Rate 9%
$120,189
$120.2K
Market Conditions
NOI Build-Up for 1,142 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
$21.0K $18.36/SF
− Vacancy
−$1.3K −$1.14/SF
EGI
$19.7K $17.22/SF
− OpEx
−$8.9K −$7.75/SF
NOI
$10.8K $9.47/SF
Area
Lakeland, 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%
$216,340
Cap Rate 7%
$154,529
Cap Rate 9%
$120,189
Alternative Uses
Best Use
Apartment 5plus
$154.5K
$135.2K – $180.3K
NOI $10,817 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.4K
$240.1K – $320.2K
NOI $19,210 @ 7.0% cap · market cap 8.94%
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
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 33809, FL
30,629
Population
12,647
Households
2.4
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
65.9 sq mi
ZIP Area
465
Density / Sq Mi
$67,112
Median Household Income
$40,839
Median Earnings
$1,492
Median Rent
$248,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with a flexible loft, attached garage, and refreshed kitchen in Lakeland.
Where is this residential income property located?
The property is located at 236 VILLAGE CREST COURT Lakeland, FL.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 1,142 square feet of living space; Two bedrooms and two bathrooms with a versatile loft; New stainless‑steel kitchen appliances
