Lakefront
New
For Sale
$347,000
2430 S Lake Letta Drive, Avon Park, FL 33825
Residential, Single Story, Avon Park, FL
Property Size2,106 SF
Lot Size0.83 Acres
Price / SF$164.77
Days on Market1
Property Features for 2430 S Lake Letta Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
r3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Parking features
Driveway
Directions
From US 27 and sebring parkway head east Turn left onto Home Ave Turn left onto FL-17 N Sharp left onto S Lake Letta Dr property will be immediatly on the right
Standard status
Active
APN
C-06-34-29-040-0010-0080
Size
2,106 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
STUMP SUB PER PB 4-PG 12 LOT 8 BLK 1
Tax Annual Amount
2365
Legal Description
STUMP SUB PER PB 4-PG 12 LOT 8 BLK 1
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Private
Building Details
Year built
1960
Floors in Building
1
Flooring type
Tile
Building materials
Concrete Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
ADVANTAGE REALTY #1
(863) 386-0303
Listed By:
Benjamin Sommerville · License #3606976
(863) 414-8045
Added: Sep 8
Last Checked: Sep 8 at 6:06PM
MLS# 327797
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 concrete-block duplex contains two separate 2-bedroom, 1-bath units with approximately 2,106 total square feet of living space. Both units have central air and heat, tile flooring, electric systems, private water service, shingle roofing, and driveway parking. Built in 1960, the property occupies 0.83 acres and includes frontage along Lake Letta.
Located at 2430 S Lake Letta Drive in Avon Park, the property is within Highlands County and carries r3 zoning. Its combination of two residential units, lakefront land, and established building improvements creates a straightforward multifamily configuration for ownership or rental use.
Located at 2430 S Lake Letta Drive in Avon Park, the property is within Highlands County and carries r3 zoning. Its combination of two residential units, lakefront land, and established building improvements creates a straightforward multifamily configuration for ownership or rental use.
Key Highlights
- Lakefront duplex on Lake Letta
- Two 2‑bedroom, 1‑bath units
- Approximately 2,106 total square feet
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
$19,022
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
5.48%
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%
$380,440
$380.4K
Cap Rate 7%
$271,743
$271.7K
Cap Rate 9%
$211,356
$211.4K
Market Conditions
NOI Build-Up for 2,106 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
$29.1K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.2K $12.90/SF
− OpEx
−$8.2K −$3.87/SF
NOI
$19.0K $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 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%
$380,440
Cap Rate 7%
$271,743
Cap Rate 9%
$211,356
Alternative Uses
Best Use
Multifamily LT 5
$271.7K
$237.8K – $317.0K
NOI $19,022 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$252.5K
$221.0K – $294.6K
NOI $17,676 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$438.1K
$383.4K – $511.2K
NOI $30,670 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 33825, FL
24,943
Population
12,519
Households
2
Avg Household Size
49
Median Age
13%
College-Educated
83%
High-School Grad
112.8 sq mi
ZIP Area
221
Density / Sq Mi
$46,604
Median Household Income
$32,352
Median Earnings
$902
Median Rent
$152,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Concrete-block duplex with two-bedroom units, central air, and waterfront land.
Where is this duplex located?
The property is located at 2430 S Lake Letta Drive Avon Park, FL.
What is the asking price?
The asking price for this property is $347,000.
What are key features of this property?
This property features: Lakefront duplex on Lake Letta; Two 2‑bedroom, 1‑bath units; Approximately 2,106 total square feet
