Two-Unit Duplex with Tile
For Sale
$225,000
608 Jupiter Avenue NW, Lake Placid, FL 33852
Residential, Single Story, Lake Placid, FL
Property Size1,928 SF
Lot Size0.22 Acres
Price / SF$116.70
Days on Market173
Property Features for 608 Jupiter Avenue NW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 1
Parking features
Driveway
Interior features
BB / HS Internet Available, Blinds, Cable TV Available, Ceiling Fans, Low Threshold Shower
Directions
From US 27 in Lake Placid turn west onto E Interlake Blvd for 0.6 miles. At the traffic circle, take the 4th exit onto Deen Blvd/W Interlake Blvd and Continue to follow W Interlake Blvd for 1.0 mi. Turn left onto Catfish Creek Rd for 2.0 mi. Turn left onto Placid Lakes Blvd for 0.7 mi. Turn right onto Lake Groves Rd NW for 0.3 mi. Turn left onto Jupiter Ave NW and Destination will be on the left in 259 ft.
Standard status
Active
APN
C-14-37-29-110-1350-0300
Size
1,928 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLACID LAKES SEC 11 PB 8-PG 7 LOT 30 BLK 135
Tax Annual Amount
2810
Legal Description
PLACID LAKES SEC 11 PB 8-PG 7 LOT 30 BLK 135
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Amenities
private laundry room
Building Details
Year built
1981
Floors in Building
1
Flooring type
Tile, Vinyl
Building materials
Concrete Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Paradise Real Estate International LLC
(863) 272-7540
Listed By:
Kenneth Oxsalida · License #3577009
(863) 272-2396
Added: Apr 15
Changed: Sep 15
Last Checked: Oct 4 at 3:06PM
MLS# 324641
Copyright © 2026 Heartland Multiple Listing Service, Inc. 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.
Built in 1981, this R2-zoned duplex contains 1,928 square feet across two matching residences. Both units are currently vacant and feature two bedrooms, two full bathrooms, tile flooring, galley kitchens, dining and living areas, and private laundry rooms. Sliding glass doors open from each unit toward the backyard, while central electric heating and cooling support year-round comfort. The concrete-block structure has a shingle roof, driveway parking, and a mix of tile and vinyl flooring.
The property occupies 0.22 acres at 608 Jupiter Avenue NW in Lake Placid, Florida. Residents of the Placid Lakes community have access to Lake June-in-Winter, a private park, and a boat ramp. The location is within Highlands County and carries a 33852 ZIP code.
The property occupies 0.22 acres at 608 Jupiter Avenue NW in Lake Placid, Florida. Residents of the Placid Lakes community have access to Lake June-in-Winter, a private park, and a boat ramp. The location is within Highlands County and carries a 33852 ZIP code.
Key Highlights
- Duplex includes 1,928 square feet on 0.22 acres
- Both units are vacant and configured with 2 bedrooms and 2 full bathrooms
- R2 zoning and 1981 construction
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
$17,414
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
7.74%
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%
$348,280
$348.3K
Cap Rate 7%
$248,771
$248.8K
Cap Rate 9%
$193,489
$193.5K
Market Conditions
NOI Build-Up for 1,928 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
$26.6K $13.80/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$24.9K $12.90/SF
− OpEx
−$7.5K −$3.87/SF
NOI
$17.4K $9.03/SF
Area
Highlands County, FL
Vacancy
6.50%
Lease Rate
$13.80 /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%
$348,280
Cap Rate 7%
$248,771
Cap Rate 9%
$193,489
Alternative Uses
Best Use
Multifamily LT 5
$248.8K
$217.7K – $290.2K
NOI $17,414 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$231.2K
$202.3K – $269.7K
NOI $16,182 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$401.1K
$351.0K – $468.0K
NOI $28,078 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Matching two-bedroom residences include private laundry rooms, galley kitchens, and sliding-door access to the backyard.
Where is this duplex located?
The property is located at 608 Jupiter Avenue NW Lake Placid, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex includes 1,928 square feet on 0.22 acres; Both units are vacant and configured with 2 bedrooms and 2 full bathrooms; R2 zoning and 1981 construction
