Waterfront Residential Income
For Sale
$159,900
808 Chelsee Way, Lake Placid, FL 33852
Residential, Two Story, Lake Placid, FL
Property Size1,112 SF
Price / SF$143.79
Days on Market145
Property Features for 808 Chelsee Way
General Information
Property type
Residential
Property subtype
Duplex
Zoning
R3
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
Parking features
Assigned
Pets allowed
No
Appliances
Dryer, Refrigerator(s), Washer
Directions
US 27 S and Interlake Blvd head south to a left on Stephens Drive to a left on Chelsee Way. Unit is on left 2nd floor.
Standard status
Active
APN
C-21-37-30-010-0080-0080
Size
1,112 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
DEEANN LAKEFRONT ESTATES PB 15 PG 110 UNIT 8 BLDG 8 AKA LOT 808 + INT IN COMMON ELEMENTS
Tax Annual Amount
575
HOA Fee
$2,156 Semi-Annually
Legal Description
DEEANN LAKEFRONT ESTATES PB 15 PG 110 UNIT 8 BLDG 8 AKA LOT 808 + INT IN COMMON ELEMENTS
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
community center
heated pool
shuffleboard courts
boat ramp
community workshop
Building Details
Year built
1994
Floors in Building
2
Flooring type
Laminate, Carpet, Tile
Building materials
Concrete Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX REALTY PLUS · RE/MAX International
(863) 385-0077
Listed By:
Tammy Vickers
(863) 633-9900
Added: Jun 1
Changed: Oct 16
Last Checked: Oct 23 at 5:06PM
MLS# 325707
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.
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Investment Insights
Based on property information with market context.
This 1,112-square-foot upper-floor condominium was built in 1994 and is offered fully furnished. The residence includes two bedrooms, two bathrooms, and a bonus room adjoining the living area. Interior features include laminate, tile, and carpet flooring, along with a central electric heating and cooling system. The building is constructed of concrete block and has a shingle roof. Assigned parking and public sewer service are provided.
Set within the gated, deed-restricted DeAnn Lakefront Estates community, the property overlooks a canal with direct water access to Lake Grassy. Community amenities include a heated pool, community center, shuffleboard courts, boat ramp, and workshop. Lake Grassy spans 514 acres and supports boating, fishing, and water recreation. The property is located in Lake Placid, Florida, within Highlands County.
Set within the gated, deed-restricted DeAnn Lakefront Estates community, the property overlooks a canal with direct water access to Lake Grassy. Community amenities include a heated pool, community center, shuffleboard courts, boat ramp, and workshop. Lake Grassy spans 514 acres and supports boating, fishing, and water recreation. The property is located in Lake Placid, Florida, within Highlands County.
Key Highlights
- 1,112‑square‑foot upper‑floor condominium built in 1994
- Fully furnished two‑bedroom, two‑bath residence with bonus room
- Canal setting with direct access to 514‑acre Lake Grassy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,333
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,660
$186.7K
Cap Rate 7%
$133,329
$133.3K
Cap Rate 9%
$103,700
$103.7K
Market Conditions
NOI Build-Up for 1,112 SF
Gross rent
$18.0K $16.20/SF
− Vacancy
−$1.0K −$0.94/SF
EGI
$17.0K $15.26/SF
− OpEx
−$7.6K −$6.87/SF
NOI
$9.3K $8.39/SF
Area
Highlands County, FL
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$186,660
Cap Rate 7%
$133,329
Cap Rate 9%
$103,700
Alternative Uses
Best Use
Apartment 5plus
$133.3K
$116.7K – $155.6K
NOI $9,333 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.3K
$202.4K – $269.9K
NOI $16,194 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Furnished upper-floor condo with two bedrooms, two bathrooms, and a bonus room overlooking a canal to Lake Grassy.
Where is this residential income property located?
The property is located at 808 Chelsee Way Lake Placid, FL.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 1,112‑square‑foot upper‑floor condominium built in 1994; Fully furnished two‑bedroom, two‑bath residence with bonus room; Canal setting with direct access to 514‑acre Lake Grassy
