Residential Income Property with
361 LAKE HARRIS DRIVE, Lakeland, FL 33813
For Sale
$205,000
The two-bedroom, two-bath half-duplex includes in-unit laundry, storage, and two screened outdoor areas.
Property Size1,104 SF
Days on Market15
Property Features for 361 LAKE HARRIS DRIVE
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
covered carport
laundry room
washer & dryer
screened-in areas
lake access
Building Details
Building Size
Year Built
Stories
Listing Agency:
S & D REAL ESTATE SERVICE LLC
Listed By:
Lana Gallant
(863) 824-7169
Source:
Focusgroupfl.kw
Added: Oct 29
Changed: Nov 10
Last Checked: Nov 10 at 5:14AM
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 S & D REAL ESTATE SERVICE LLC
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Investment Insights
Based on property information with market context.
Built in 1985, this two-bedroom, two-bath half-duplex has an entryway leading into the kitchen, dining area, and living room. The kitchen has a high-top pass-through facing the dining area and a new refrigerator. A dedicated laundry room includes a washer and dryer. The covered carport connects to additional storage, and two screened areas provide outdoor space.
Residents have access to Lake Harris for fishing and outdoor recreation. Dining, shopping, and entertainment are also described as nearby.
Residents have access to Lake Harris for fishing and outdoor recreation. Dining, shopping, and entertainment are also described as nearby.
Key Highlights
- Two‑bedroom, two‑bath half‑duplex built in 1985
- Kitchen includes a high‑top pass‑through and new refrigerator
- Separate laundry room with washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,457
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,140
$209.1K
Cap Rate 7%
$149,386
$149.4K
Cap Rate 9%
$116,189
$116.2K
Market Conditions
NOI Build-Up for 1,104 SF
Gross rent
$20.3K $18.36/SF
− Vacancy
−$1.3K −$1.14/SF
EGI
$19.0K $17.22/SF
− OpEx
−$8.6K −$7.75/SF
NOI
$10.5K $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 Rate 5%
$209,140
Cap Rate 7%
$149,386
Cap Rate 9%
$116,189
Alternative Uses
Best Use
Apartment 5plus
$149.4K
$130.7K – $174.3K
NOI $10,457 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$265.3K
$232.1K – $309.5K
NOI $18,571 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,109
Businesses Nearby
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Business Placement
Demographics for 33813, FL
36,448
Population
14,787
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,736
Density / Sq Mi
$96,723
Median Household Income
$50,581
Median Earnings
$1,637
Median Rent
$330,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Lakeland, FL
Properties on Market for Residential income properties in Lakeland
Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom, two-bath half-duplex includes in-unit laundry, storage, and two screened outdoor areas.
Where is this residential income property located?
The property is located at 361 LAKE HARRIS DRIVE Lakeland, FL.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath half‑duplex built in 1985; Kitchen includes a high‑top pass‑through and new refrigerator; Separate laundry room with washer and dryer
