55+ Villa with Enclosed
3 Hillcrest Street Lake Placid, FL 33852
For Sale
$165,000
SINGLE_FAMILY - Lake Placid, FL
Property Size1,320 SF
Lot Size0.15 Acres
Price / SF$125
Days on Market85
Property Features for 3 Hillcrest Street
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Zoning
- M1FUD
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 1
- Parking features
- Garage
- Pets allowed
- Yes
- Exterior features
- Brick
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator(s), Stove(s) / Range(s) Oven(s), Washer
- 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
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 1979
- Floors in Building
- 1
- Flooring type
- Linoleum, Tile, Carpet
- 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: Jul 23
Last Checked: Jul 24 at 4:06PM
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.
Investment Insights
Based on property information with market context.
Welcome to Covered Bridge, a 55+ villa in Venetian Village offering 2 bedrooms and 1.5 bathrooms. The home is situated on a desirable corner lot and includes an in-unit washer and dryer for everyday convenience, along with a one-car garage providing secure parking and additional storage. A standout feature is the finished, enclosed back room, which can serve as a home office, hobby space, or a year-round Florida room.
Covered Bridge is described as a well-maintained community with resident amenities included through a low HOA fee of $336 per quarter. The HOA includes trash pickup once a week, lawn mowing, and access to amenities such as a pool, pickleball, tennis, shuffleboard, and the clubhouse.
The property is listed for sale as a single-family villa at 3 Hillcrest Street in Lake Placid, within Highlands County, Florida. Zoning is noted as M1FUD.
Covered Bridge is described as a well-maintained community with resident amenities included through a low HOA fee of $336 per quarter. The HOA includes trash pickup once a week, lawn mowing, and access to amenities such as a pool, pickleball, tennis, shuffleboard, and the clubhouse.
The property is listed for sale as a single-family villa at 3 Hillcrest Street in Lake Placid, within Highlands County, Florida. Zoning is noted as M1FUD.
Key Highlights
- 55+ Venetian Village 2‑bedroom, 1.5‑bath villa built in 1979
- Corner lot with a finished enclosed back room for home office, hobby space, or Florida room
- In‑unit washer and dryer plus stainless or standard kitchen appliances including dishwasher, microwave, and range/oven
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.2k | $13.80 |
| − Vacancy | −$1.2k | −$0.90 |
| EGI | $17.0k | $12.90 |
| − OpEx | −$5.1k | −$3.87 |
| NOI | $11.9k | $9.03 |
1,320 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$170.3K
$149.0K – $198.7K
NOI $11,922 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$158.3K
$138.5K – $184.7K
NOI $11,079 @ 7.0% cap · market cap 6.71%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - 2-bedroom villa on a corner lot with in-unit washer/dryer, a one-car garage, and a finished enclosed back room.
Where is this duplex 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: 55+ Venetian Village 2‑bedroom, 1.5‑bath villa built in 1979; Corner lot with a finished enclosed back room for home office, hobby space, or Florida room; In‑unit washer and dryer plus stainless or standard kitchen appliances including dishwasher, microwave, and range/oven
