Two-Story Duplex in Historic
For Sale
$399,900
748 / 750 WINFREE Avenue, Lakeland, FL 33801
MULTI_FAMILY - LAKELAND, FL
Property Size2,224 SF
Lot Size0.08 Acres
Price / SF$179.81
Days on Market69
Property Features for 748 / 750 WINFREE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RA-4
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
Pets allowed
Yes
Interior features
Ceiling Fans(s), High Ceilings, Solid Wood Cabinets, Walk-In Closet(s)
Exterior features
Courtyard, Fence, Lighting, Private Mailbox, Sidewalk
Fencing
Fenced
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Tankless Water Heater, Washer
Subdivision
WINFREE SUB
Lot features
Historic District, City Limits, Level, Near Public Transit, Sidewalk, Street Brick
Elementary school
Philip O'Brien Elementary
Middle school
Crystal Lake Middle/Jun
High school
Lakeland Senior High
Directions
East or West on E. Palmetto Street, South on Winfree Ave to 748/750 Winfree Ave on the Left.
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 Description
WINFREE SUB PB 6 PG 31 BLK A LOT 10 N 50 FT
Tax Annual Amount
2944
Legal Description
WINFREE SUB PB 6 PG 31 BLK A LOT 10 N 50 FT
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
private entrances
separate utility and water meters
tankless hot water heaters
enclosed sunporch
wood flooring
granite countertops
stainless steel appliances
stackable washer/dryer
brick terrace
Building Details
Year built
1925
Floors in Building
2
Flooring type
Wood, Tile - Ceramic
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Russ Rhoads · License #644951
(863) 604-1570
Added: May 29
Changed: Aug 1
Last Checked: Aug 5 at 3:06AM
MLS# L4962244
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 two-story duplex was originally built in 1925 and is positioned for flexible use as either an owner-occupant or investment property. Each residence has private side-front and rear entrances, with separate utility and water meters, plus tankless hot water heaters. The property provides approximately 2,224 total square feet of living area, with about 1,112 heated square feet per unit. Interior and exterior details include ceiling fans, high ceilings, solid wood cabinets, walk-in closets, ceramic tile and wood flooring, and a fenced setting with courtyard and lighting.
Unit 750 is located on the second floor and is currently leased, with the lease ending 9/30/2026. Unit 748 includes a spacious 9x21 enclosed sunporch with abundant windows and A/C, along with formal living and dining rooms and an updated kitchen featuring white wood cabinetry, granite countertops, and stainless steel appliances. Both units have access to a versatile utility/mudroom with a stackable washer and dryer, and the exterior includes a brick terrace with off-street parking potential.
Zoned RA-4, the duplex is located on Winfree Avenue in Lakeland within the Lake Morton Historic District, near Lake Morton and multiple lakes and local amenities including Florida Southern College and downtown Lakeland.
Unit 750 is located on the second floor and is currently leased, with the lease ending 9/30/2026. Unit 748 includes a spacious 9x21 enclosed sunporch with abundant windows and A/C, along with formal living and dining rooms and an updated kitchen featuring white wood cabinetry, granite countertops, and stainless steel appliances. Both units have access to a versatile utility/mudroom with a stackable washer and dryer, and the exterior includes a brick terrace with off-street parking potential.
Zoned RA-4, the duplex is located on Winfree Avenue in Lakeland within the Lake Morton Historic District, near Lake Morton and multiple lakes and local amenities including Florida Southern College and downtown Lakeland.
Key Highlights
- Two‑story duplex originally built in 1925 in the Lake Morton Historic District
- Each unit has private side‑front and rear entrances with separate utility and water meters
- Unit 750 is leased; lease ends 9/30/2026
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
NOI $23,581 @ 7.0% cap · market cap 5.90%
Second Best
Apartment 5plus
$300.9K
$263.3K – $351.1K
NOI $21,066 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$534.4K
$467.6K – $623.5K
NOI $37,411 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
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-story duplex zoned RA-4 with separate entrances, separate utilities, and a leased unit ending 9/30/2026.
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 $399,900.
What are key features of this property?
This property features: Two‑story duplex originally built in 1925 in the Lake Morton Historic District; Each unit has private side‑front and rear entrances with separate utility and water meters; Unit 750 is leased; lease ends 9/30/2026
