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    Historic Lakeland Duplex For Sale Title is generated by Realmo AI

    748 / 750 WINFREE AVENUE, Lakeland, FL 33801

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    For Sale
    $410,000

    Duplex - LAKELAND, FL

    Type:Duplex
    Property size:
    2,224 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $184/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 3:06 pm

    Property Features for 748 / 750 WINFREE AVENUE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    RA-4
    Bedrooms
    4
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Pets allowed
    Yes
    Interior features
    Ceiling Fans(s), High Ceilings, Solid Wood Cabinets, Walk-in Closet(s)
    Exterior features
    Level, Courtyard, Fence, Lighting, Private Mailbox, Sidewalk
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    24-28-19-215500-001101
    Size
    2,224 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2943.88

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1925
    Number of units
    2
    Flooring type
    Tile, Tile - Ceramic, Wood
    Building materials
    Frame, Wood Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Russ Rhoads
    Russ Rhoads

    Listing agent Russ Rhoads License #644951

    Listing office EXP REALTY LLC 10752 Deerwood Park Blvd., Suite 100, Jacksonville, FL

    Listing date May 29, 2026

    MLS# L4962244 Listing URL

    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.

    HighLights

    • Desirable Lake Morton Historic District location, close to lakes, downtown, FSC, museums, library, shops, and restaurants.
    • Duplex offers income potential with one unit currently leased until 9/30/2026.
    • Historic charm with modern updates, including tankless hot water heaters, updated kitchens with granite countertops and stainless steel appliances.
    • Each unit has private entrances and separate utility meters.
    • Unit 748 features a spacious, air‑conditioned enclosed sunporch and updated kitchen.
    • Off‑street parking on a spacious brick terrace.

    Overview

    Located in the desirable Lake Morton Historic District, this two-story duplex was originally built in 1925. The property offers approximately 2,224 total square feet of living area, with approximately 1,112 heated square feet per unit. Each residence has private side-front and rear entrances, separate utility and water meters, and tankless hot water heaters. Unit 748 features a 9x21 enclosed sunporch with A/C and terracotta-style tile flooring. Formal living and dining rooms showcase wood flooring. The updated kitchen includes white wood cabinetry, granite countertops, stainless steel appliances, and a stackable washer and dryer within a utility/mudroom. This unit offers 2 bedrooms and 1 bathroom, including a bedroom with a walk-in closet. A brick terrace provides off-street parking. Unit 750, located on the second floor, is currently leased, lease ends 9/30/2026. The property is near Lake Morton, Lake Mirror, Lake Hollingsworth, Florida Southern College, downtown Lakeland, The Ashley Gibson Barnett Museum of Art, Lakeland Public Library, coffee shops, restaurants, and shopping. The zoning is RA-4. This duplex offers flexibility and timeless appeal for multigenerational living, or as an investment property.

    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 $36.0k $16.20
    − Vacancy −$2.3k −$1.05
    EGI $33.7k $15.15
    − OpEx −$10.1k −$4.54
    NOI $23.6k $10.60
    2,224 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $336.9K
    $294.8K – $393.0K (±1% cap)
    NOI $23,581 @ 7.0% cap · market cap 5.75%
    Second Best
    Apartment 5plus
    $300.9K
    $263.3K – $351.1K (±1% cap)
    NOI $21,066 @ 7.0% cap · market cap 5.14%
    Theoretical Best
    Office A
    $534.4K
    $467.6K – $623.5K (±1% cap)
    NOI $37,411 @ 7.0% cap · market cap 9.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Dental Office Law Firm Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Daycare Center Gym & Fitness Center Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.946356
    Latitude
    28.035199

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    FAQs

    What type of property is this?
    Duplex - Charming 1925 duplex in Lakeland's historic district.
    Where is this duplex located?
    The property is located at 748 / 750 WINFREE AVENUE Lakeland, FL.
    What is the asking price?
    The asking price for this property is $410,000.
    What are key features of this property?
    This property features: Desirable Lake Morton Historic District location, close to lakes, downtown, FSC, museums, library, shops, and restaurants.; Duplex offers income potential with one unit currently leased until 9/30/2026.; Historic charm with modern updates, including tankless hot water heaters, updated kitchens with granite countertops and stainless steel appliances.
    (863) 604-1570
    We can help!
    Listing Contact
    Russ Rhoads
    Russ Rhoads
    Real Estate License ID: 644951
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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