Duplex Villa with Enclosed Back
For Sale
$165,000
3 Hillcrest Street, Lake Placid, FL 33852
Residential, Single Story, Lake Placid, FL
Property Size1,320 SF
Lot Size0.15 Acres
Price / SF$125
Days on Market179
Property Features for 3 Hillcrest Street
General Information
Property type
Residential
Property subtype
Duplex
Zoning
M1FUD
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2
Parking features
Garage
Pets allowed
Yes
Exterior features
Brick
Appliances
Dishwasher, Dryer, Microwave, Refrigerator(s), Stove(s) / Range(s) Oven(s), Washer
Directions
Take US 27 to Lake Francis Road. Follow around to the entrance of Covered Bridge. Go straight to Hillcrest Road, make left, house is first corner villa on right.
Standard status
Active
APN
C-15-36-29-060-0100-0220
Size
1,320 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
VENETIAN VILLAGE REVISED PB 11-PG 12 LOT 22 BLK 10
Tax Annual Amount
2322
HOA Fee
$336 Quarterly
Legal Description
VENETIAN VILLAGE REVISED PB 11-PG 12 LOT 22 BLK 10
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Amenities
pool
pickleball
tennis
shuffleboard
club house
Building Details
Year built
1979
Floors in Building
1
Flooring type
Carpet, Tile, Linoleum
Building materials
Brick, Concrete Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
The Pipal Group
(863) 659-1451
Listed By:
Donna Favata-Pollard
(954) 444-0249
Added: May 1
Changed: Oct 21
Last Checked: Oct 26 at 3:06AM
MLS# 325065
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.
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Investment Insights
Based on property information with market context.
Welcome to Covered Bridge, a 55+ community villa situated on a corner lot. The home offers two bedrooms and 1.5 bathrooms, with an in-unit washer and dryer and a one-car garage for secure parking and additional storage. A standout feature is the finished, enclosed back room, well suited for a home office, hobby space, or a year-round Florida room.
Constructed with brick and concrete block and supported by central electric heating and central air conditioning, the residence includes tile, linoleum, and carpet flooring and a shingle roof. Appliances include a dishwasher, microwave, refrigerator, and range/oven, providing a functional setup for everyday living.
The property sits on a 0.15-acre lot and totals 1,320 square feet. Covered Bridge is described as a well-maintained community with amenities including a pool, pickleball, tennis, shuffleboard, and clubhouse, along with trash pickup once a week and lawn mowing. The property is zoned M1FUD.
Constructed with brick and concrete block and supported by central electric heating and central air conditioning, the residence includes tile, linoleum, and carpet flooring and a shingle roof. Appliances include a dishwasher, microwave, refrigerator, and range/oven, providing a functional setup for everyday living.
The property sits on a 0.15-acre lot and totals 1,320 square feet. Covered Bridge is described as a well-maintained community with amenities including a pool, pickleball, tennis, shuffleboard, and clubhouse, along with trash pickup once a week and lawn mowing. The property is zoned M1FUD.
Key Highlights
- 0.15‑acre corner lot in the Covered Bridge 55+ community
- 1,320 SF villa with two bedrooms and 1.5 bathrooms
- Finished, enclosed back room for office, hobby space, or Florida room use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,079
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,580
$221.6K
Cap Rate 7%
$158,271
$158.3K
Cap Rate 9%
$123,100
$123.1K
Market Conditions
NOI Build-Up for 1,320 SF
Gross rent
$21.4K $16.20/SF
− Vacancy
−$1.2K −$0.94/SF
EGI
$20.1K $15.26/SF
− OpEx
−$9.1K −$6.87/SF
NOI
$11.1K $8.39/SF
Area
Highlands County, FL
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,580
Cap Rate 7%
$158,271
Cap Rate 9%
$123,100
Alternative Uses
Best Use
Apartment 5plus
$158.3K
$138.5K – $184.7K
NOI $11,079 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.6K
$240.3K – $320.4K
NOI $19,223 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
14
Businesses Nearby
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Demographics for 33852, FL
21,635
Population
12,991
Households
1.7
Avg Household Size
55
Median Age
20%
College-Educated
85%
High-School Grad
293.4 sq mi
ZIP Area
74
Density / Sq Mi
$54,841
Median Household Income
$39,658
Median Earnings
$1,063
Median Rent
$205,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Single family property - Two-bedroom, 1.5-bath villa on a corner lot with a one-car garage and an enclosed back room in a 55+ community.
Where is this single family property located?
The property is located at 3 Hillcrest Street Lake Placid, FL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 0.15‑acre corner lot in the Covered Bridge 55+ community; 1,320 SF villa with two bedrooms and 1.5 bathrooms; Finished, enclosed back room for office, hobby space, or Florida room use
