Two-Residence Duplex
New
For Sale
$400,000
315 DORSETT Avenue, Lake Wales, FL 33853
Residential Income, LAKE WALES, FL
Property Size1,755 SF
Lot Size0.15 Acres
Price / SF$227.92
Days on Market7
Property Features for 315 DORSETT Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
IND
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 3
Parking features
Oversize, Driveway, Off Street, On Street
Patio and Porch features
Patio, Porch
Pets allowed
Yes, Cats OK, Dogs OK
Interior features
Ceiling Fans(s), Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Stone Counters, Tray Ceiling(s), Walk-In Closet(s)
Exterior features
Private Entrance, Rain Gutters, Sidewalk
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
THULBERRYS SECOND SUB
Lot features
Sidewalk
Directions
Head north on North Scenic Highway (US-17) from State Road 60, take a left onto Florida Avenue, make another left onto Dorsett Avenue, and 315 Dorsett Avenue will be on your right.
Standard status
Active
APN
27-30-02-899000-008100
Size
1,755 SF
Lot size
0.15 Acres
Additional Details
Individually Metered Utilities
water, electricity
Taxes and HOA fees
Tax Year
2025
Tax Description
THULBERRYS SECOND SUB PB 24 PG 21 BLK 8 LOT 10
Tax Annual Amount
267
Legal Description
THULBERRYS SECOND SUB PB 24 PG 21 BLK 8 LOT 10
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
private entrance
full kitchen
washer/dryer hookups
Building Details
Year built
2026
Number of units
2
Flooring type
Vinyl
Building materials
Stucco
Roof type
Shingle
Buildings
2
Listing Agency:
FLORIDA REALTY MARKETPLACE
(863) 877-1915
Listed By:
Jenn Manzella · License #3383985
(863) 866-0335
Added: Oct 28
Changed: Nov 3
Last Checked: Nov 3 at 10:06AM
MLS# P4940337
Copyright © 2026 Stellar MLS. 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.
This 2026 property comprises two separate homes on a single 0.15-acre lot, with a combined reported area of 1,755 square feet. One residence has three bedrooms and two bathrooms; the other has two bedrooms and one bathroom. Each home has a private entrance, full kitchen, and washer and dryer hookups, along with its own water and electric meters. The property is under construction and includes central heating and air conditioning, vinyl flooring, a patio, and a porch.
The Lake Wales property is near State Road 60 and US-27, with Walmart Supercenter, AdventHealth Lake Wales, and Lake Wales Plaza among the named nearby destinations. Public water and sewer serve the site. Zoning is listed as IND.
The Lake Wales property is near State Road 60 and US-27, with Walmart Supercenter, AdventHealth Lake Wales, and Lake Wales Plaza among the named nearby destinations. Public water and sewer serve the site. Zoning is listed as IND.
Key Highlights
- Two residences on one 0.15‑acre lot
- 3‑bedroom/2‑bathroom home paired with a 2‑bedroom/1‑bathroom home
- 1,755 square feet of reported property area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,608
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,160
$372.2K
Cap Rate 7%
$265,829
$265.8K
Cap Rate 9%
$206,756
$206.8K
Market Conditions
NOI Build-Up for 1,755 SF
Gross rent
$28.4K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$26.6K $15.15/SF
− OpEx
−$8.0K −$4.54/SF
NOI
$18.6K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,160
Cap Rate 7%
$265,829
Cap Rate 9%
$206,756
Alternative Uses
Best Use
Multifamily LT 5
$265.8K
$232.6K – $310.1K
NOI $18,608 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$237.5K
$207.8K – $277.1K
NOI $16,623 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$421.7K
$369.0K – $492.0K
NOI $29,522 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
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
Frequently Asked Questions
What type of property is this?
Duplex - Separate utility meters, kitchens, and laundry hookups support independent use of each residence.
Where is this duplex located?
The property is located at 315 DORSETT Avenue Lake Wales, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two residences on one 0.15‑acre lot; 3‑bedroom/2‑bathroom home paired with a 2‑bedroom/1‑bathroom home; 1,755 square feet of reported property area
