Duplex with Updated
New
For Sale
$350,000
4710 FERNERY Lane, Lakeland, FL 33809
Residential Income, LAKELAND, FL
Property Size1,510 SF
Lot Size0.29 Acres
Price / SF$231.79
Days on Market2
Property Features for 4710 FERNERY Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C-3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 1
Interior features
Ceiling Fans(s)
Subdivision
GOODYEAR P D SUB
Directions
turn left from socrum loop rd onto fernery road and then a right on fernery lane. Property is on the left
Standard status
Active
APN
24-27-30-162500-000123
Size
1,510 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GOODYEAR P D SUB PB 6 PG 13 & PB 5 PG 49 LOT 12 W 85 FT OF N 150 FT OF S 300 FT
Tax Annual Amount
4143
Legal Description
GOODYEAR P D SUB PB 6 PG 13 & PB 5 PG 49 LOT 12 W 85 FT OF N 150 FT OF S 300 FT
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
updated kitchens
in-unit laundry
Building Details
Year built
1966
Building materials
Stucco
Roof type
Shingle
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
Monay Link · License #3395608
(863) 205-2884
Added: Aug 22
Changed: Aug 23
Last Checked: Aug 23 at 8:06AM
MLS# L4964502
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.
Investment Insights
Based on property information with market context.
This duplex contains two matching residences within a 1,510-square-foot property on a 0.29-acre lot. Each side is configured with two bedrooms and one bathroom, along with an updated kitchen and in-unit laundry. An office with closet space provides additional flexibility for workspace or sleeping arrangements. Central heating, central air, ceiling fans, stucco construction, and a shingle roof are included among the property features.
Built in 1966, the property is located in Lakeland near I-4. Public water and a septic tank serve the site, and the property carries C-3 zoning. The duplex format supports an owner-occupant arrangement with one residence retained for personal use and the other rented, or rental of both units.
Built in 1966, the property is located in Lakeland near I-4. Public water and a septic tank serve the site, and the property carries C-3 zoning. The duplex format supports an owner-occupant arrangement with one residence retained for personal use and the other rented, or rental of both units.
Key Highlights
- Two‑unit duplex with identical layouts
- 1,510 square feet on a 0.29‑acre lot
- Each unit includes 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,010
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$320,200
$320.2K
Cap Rate 7%
$228,714
$228.7K
Cap Rate 9%
$177,889
$177.9K
Market Conditions
NOI Build-Up for 1,510 SF
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.
Gross rent
$24.5K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$22.9K $15.15/SF
− OpEx
−$6.9K −$4.54/SF
NOI
$16.0K $10.60/SF
Area
Lakeland, 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$320,200
Cap Rate 7%
$228,714
Cap Rate 9%
$177,889
Alternative Uses
Best Use
Multifamily LT 5
$228.7K
$200.1K – $266.8K
NOI $16,010 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$204.3K
$178.8K – $238.4K
NOI $14,303 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$362.9K
$317.5K – $423.4K
NOI $25,401 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 33809, FL
30,629
Population
12,647
Households
2.4
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
65.9 sq mi
ZIP Area
465
Density / Sq Mi
$67,112
Median Household Income
$40,839
Median Earnings
$1,492
Median Rent
$248,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching units offer central HVAC, private laundry, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 4710 FERNERY Lane Lakeland, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with identical layouts; 1,510 square feet on a 0.29‑acre lot; Each unit includes 2 bedrooms and 1 bathroom
