Duplex with Individual
New
For Sale
$450,000
3779 RED OAK COURT, Lake Wales, FL 33898
Renovated two-unit property features patios and house-style backyards in a setting with access to shopping and major travel routes.
Property Size2,372 SF
Price / SF$189.71
Days on Market7
Property Features for 3779 RED OAK COURT
General Information
Standard status
Active
Size
2,372 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
patio
0.44 acres, In County, Paved
Shingle
Septic Tank
Additional parcels description:, Parcel Number: 28-29-33-937792-001060, Public Survey Range: 28, Public Survey Section: 33, Annual Amount: $3,889, Tax Book Number: 75-19, Legal Description: COUNTRY OAKS ESTATES UNIT 6 PB 75 PG 19 LOT 106, Lot: 106, Year: 2025
Laminate
1 space
Central Air
Central
Electric Dryer Hookup, In Garage
Listing ID: MFRP4940120, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-10-13, 1 day on market, Special Conditions: None
Driveway, Garage Door Opener
Elementary School: Spook Hill Elem, Middle School: McLaughlin Academy Of Excellence, High School: Bartow High
8 total bedrooms
Built in 1996, Living area: 2372, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco
Subdivision: COUNTRY OAKS ESTATES, MLS Area (Major): 33898 - Lake Wales, County/Parish: Polk
Completed, Trees/Woods
8 total bathrooms
Electricity Connected, Water Connected, Water Source: Public, 2 separate water meters
Slab
Close Of Escrow
Electricity, Water
Road Responsibility: Public Maintained Road, Road Surface: Paved
Patio/Porch Features: Patio, Private Mailbox
Cathedral Ceiling(s), Open Floorplan, Walk-In Closet(s)
Dishwasher, Electric Water Heater, Range, Range Hood, Refrigerator
Building Details
Year Built
1996
Buildings
1
Listing Agency:
COLDWELL BANKER REALTY
(863) 294-7541
Listed By:
J. Michael Nolen, JR · License #3008129
(863) 651-1971
Source:
Miharaandassociates
Added: Oct 13
Changed: Oct 16
Last Checked: Oct 16 at 8:05AM
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 COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
This 2,372-square-foot duplex was built in 1996 and has renovated units. Each unit has an individual garage and patio, with backyard space that gives the property a single-family residential feel.
Located in Country Oaks Estates in Lake Wales, the property sits among duplexes and houses on spacious, mostly tree-shaded lots. Shopping is nearby, and Hwy 60 and Hwy 27 provide travel routes in the area.
Located in Country Oaks Estates in Lake Wales, the property sits among duplexes and houses on spacious, mostly tree-shaded lots. Shopping is nearby, and Hwy 60 and Hwy 27 provide travel routes in the area.
Key Highlights
- 2,372‑square‑foot duplex built in 1996
- Renovated units
- Individual garage and patio for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,150
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,000
$503.0K
Cap Rate 7%
$359,286
$359.3K
Cap Rate 9%
$279,444
$279.4K
Market Conditions
NOI Build-Up for 2,372 SF
Gross rent
$38.4K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$35.9K $15.15/SF
− OpEx
−$10.8K −$4.54/SF
NOI
$25.2K $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%
$503,000
Cap Rate 7%
$359,286
Cap Rate 9%
$279,444
Alternative Uses
Best Use
Multifamily LT 5
$359.3K
$314.4K – $419.2K
NOI $25,150 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$321.0K
$280.8K – $374.5K
NOI $22,467 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$570.0K
$498.8K – $665.0K
NOI $39,901 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 33898, FL
17,971
Population
10,080
Households
1.8
Avg Household Size
51
Median Age
17%
College-Educated
85%
High-School Grad
296.9 sq mi
ZIP Area
61
Density / Sq Mi
$54,778
Median Household Income
$32,414
Median Earnings
$1,122
Median Rent
$161,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit property features patios and house-style backyards in a setting with access to shopping and major travel routes.
Where is this duplex located?
The property is located at 3779 RED OAK COURT Lake Wales, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,372‑square‑foot duplex built in 1996; Renovated units; Individual garage and patio for each unit
