Vacant Duplex with Private
New
For Sale
$225,000
608 Jupiter Ave Nw, Lake Placid, FL 33852
Two matching residences offer tiled interiors, backyard access, and separate laundry rooms in Placid Lakes.
Property Size1,928 SF
Lot Size0.25 Acres
Price / SF$116.70
Days on Market3
Property Features for 608 Jupiter Ave Nw
General Information
Standard status
Active
Size
1,928 SF
Lot size
0.25 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,810
Amenities
private laundry room
Building Details
Buildings
1
Listing Agency:
Paradise Real Estate International LLC
(863) 272-7540
Listed By:
Kenneth Oxsalida · License #3577009
(863) 272-2396
Source:
Exprealty
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 16 at 3:44PM
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 Paradise Real Estate International LLC
Investment Insights
Based on property information with market context.
This 1,928-square-foot duplex contains two vacant residences with matching layouts. Each unit offers two bedrooms, two full bathrooms, tile flooring throughout, a galley kitchen connected to the dining and living areas, sliding glass doors opening to the backyard, and a private laundry room. The nearly quarter-acre property provides separate residential spaces within a single income-property asset.
The duplex is located in Placid Lakes, with access to Lake June-in-Winter, a private park, and a boat ramp. Lake Placid provides a small-town setting in Central Florida, while the community’s recreational amenities add to the property’s residential context.
The duplex is located in Placid Lakes, with access to Lake June-in-Winter, a private park, and a boat ramp. Lake Placid provides a small-town setting in Central Florida, while the community’s recreational amenities add to the property’s residential context.
Key Highlights
- 1,928‑square‑foot duplex with two matching units
- Both units are vacant
- Each residence includes 2 bedrooms and 2 full bathrooms
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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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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two matching residences offer tiled interiors, backyard access, and separate laundry rooms in Placid Lakes.
Where is this duplex located?
The property is located at 608 Jupiter Ave 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: 1,928‑square‑foot duplex with two matching units; Both units are vacant; Each residence includes 2 bedrooms and 2 full bathrooms
