Lake Wales Duplex Investment
637 S 9TH STREET Lake Wales, FL 33853
637 S 9TH STREET, Lake Wales, FL, 33853
$349,900
Pending
For Sale
$349,900
Pending
Meticulously maintained, fully occupied duplex with long-term tenants in Lake Wales.
Property Size2,080 SF
Lot Size0.33 Acres
Days on Market531
Property Features for 637 S 9TH STREET
General Information
- Standard status
- Pending
- Size
- 2,080 SF
- Lot size
- 0.33 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 2004
Listing agency
PMI ARRICO REALTY AND PRTP MGT
(863) 606-1094
Listed by
Jazzmen Bey · License #3522925
(863) 606-1094
Source
Exitrealty
Added: Feb 5, 2025 Updated: Jul 6 at 12:04PM Checked: Jul 21 at 5:20AM
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 PMI ARRICO REALTY AND PRTP MGT
Investment Insights
Based on property information with market context.
This duplex in Lake Wales presents an investment opportunity, featuring two fully occupied units with executed leases. Each unit includes 2 bedrooms, 2 bathrooms, tile flooring throughout, a spacious kitchen, and a 1-car attached garage. The property also features a screened-in lanai that overlooks a large backyard. Situated on a corner lot, this property offers ample space and curb appeal. Located in Polk County, this property is positioned near shopping, dining, and major roadways. The property size is 2080 square feet. The roof is original to the home.
Key Highlights
- Turnkey income‑producing duplex with long‑term tenants already in place.
- Each unit features 2 bedrooms and 2 bathrooms.
- Each unit includes a 1‑car attached garage.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.7k | $16.20 |
| − Vacancy | −$2.2k | −$1.05 |
| EGI | $31.5k | $15.15 |
| − OpEx | −$9.5k | −$4.54 |
| NOI | $22.1k | $10.60 |
2,080 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,054 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$281.5K
$246.3K – $328.4K
NOI $19,702 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$499.8K
$437.4K – $583.2K
NOI $34,989 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Meticulously maintained, fully occupied duplex with long-term tenants in Lake Wales.
Where is this duplex located?
The property is located at 637 S 9TH STREET Lake Wales, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Turnkey income‑producing duplex with long‑term tenants already in place.; Each unit features 2 bedrooms and 2 bathrooms.; Each unit includes a 1‑car attached garage.
