Residential Income Villa in 55+
New
For Sale
$189,900
37 JASMINE STREET, Lake Placid, FL 33852
Residents have access to a pool, clubhouse, pickleball courts, shuffleboard, and organized social and recreation activities.
Property Size1,406 SF
Price / SF$135.06
Days on Market4
Property Features for 37 JASMINE STREET
General Information
Standard status
Active
Size
1,406 SF
Total Parking Spaces
1
Property subtype
Half Duplex
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
screened back porch
interior laundry room
swimming pool
clubhouse
pickleball courts
shuffleboard
cornhole
Building Details
Year Built
1979
Buildings
1
Listing Agency:
ROBYN PHILLIPS REAL ESTATE SERVICES LLC
(860) 263-7081
Listed By:
Robyn Phillips · License #3580141
(863) 263-7081
Source:
Endlesssummerrealty
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 11 at 8:17AM
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 ROBYN PHILLIPS REAL ESTATE SERVICES LLC
Investment Insights
Based on property information with market context.
This 1,406-square-foot villa, built in 1979, has two bedrooms and two bathrooms, with a separate family room and screened back porch. An interior laundry room and attached one-car garage add functional space. Hurricane shutters and a garage screen are also included.
The home is in Covered Bridge, a 55+ community in Lake Placid. Shared amenities include a swimming pool, clubhouse, pickleball courts, shuffleboard, and cornhole, along with organized cards, bingo, line dancing, exercise classes, community meals, and entertainment. HOA services cover lawn mowing and basic cable.
The home is in Covered Bridge, a 55+ community in Lake Placid. Shared amenities include a swimming pool, clubhouse, pickleball courts, shuffleboard, and cornhole, along with organized cards, bingo, line dancing, exercise classes, community meals, and entertainment. HOA services cover lawn mowing and basic cable.
Key Highlights
- 1,406‑square‑foot villa with two bedrooms and two bathrooms
- Separate family room and screened back porch
- Attached one‑car garage; interior laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,801
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$236,020
$236.0K
Cap Rate 7%
$168,586
$168.6K
Cap Rate 9%
$131,122
$131.1K
Market Conditions
NOI Build-Up for 1,406 SF
Gross rent
$22.8K $16.20/SF
− Vacancy
−$1.3K −$0.94/SF
EGI
$21.5K $15.26/SF
− OpEx
−$9.7K −$6.87/SF
NOI
$11.8K $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%
$236,020
Cap Rate 7%
$168,586
Cap Rate 9%
$131,122
Alternative Uses
Best Use
Apartment 5plus
$168.6K
$147.5K – $196.7K
NOI $11,801 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$292.5K
$256.0K – $341.3K
NOI $20,476 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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Business Placement
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?
Residential income property - Residents have access to a pool, clubhouse, pickleball courts, shuffleboard, and organized social and recreation activities.
Where is this residential income property located?
The property is located at 37 JASMINE STREET Lake Placid, FL.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: 1,406‑square‑foot villa with two bedrooms and two bathrooms; Separate family room and screened back porch; Attached one‑car garage; interior laundry room
