Fixer-Upper Duplex Income
For Sale
$280,000
845 S CHAR MIL AVENUE, Lake Alfred, FL 33850
Duplex for sale at 845 S Char Mil Avenue, offered as a fixer-upper with income-producing potential.
Property Size2,000 SF
Price / SF$140
Days on Market54
Property Features for 845 S CHAR MIL AVENUE
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
SUNQUEST INVESTMENT REALTY LLC
(321) 624-1285
Listed By:
Rajesh Kandhai · License #703345
(407) 518-7971
Source:
Dennisrealty
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 12 at 5:45AM
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 SUNQUEST INVESTMENT REALTY LLC
Investment Insights
Based on property information with market context.
Offered for sale as a fixer-upper, this duplex at 845 S Char Mil Avenue provides an income-producing residential setup with room for updates and renovation. The property is positioned for an investor or an owner-occupant buyer looking to build equity through improvements.
Located just minutes from downtown Lake Alfred, the duplex also offers convenient access to Winter Haven, Haines City, and Auburndale. Public transportation proximity is noted as well, which may support tenant accessibility.
This is a residential income opportunity presented in need of renovation, allowing a buyer to customize and modernize with the goal of increasing long-term rental value.
Located just minutes from downtown Lake Alfred, the duplex also offers convenient access to Winter Haven, Haines City, and Auburndale. Public transportation proximity is noted as well, which may support tenant accessibility.
This is a residential income opportunity presented in need of renovation, allowing a buyer to customize and modernize with the goal of increasing long-term rental value.
Key Highlights
- Duplex for sale at 845 S Char Mil Avenue, offered as a fixer‑upper with income‑producing potential
- Built in 1983
- Located just minutes from downtown Lake Alfred
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
$21,206
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
7.57%
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%
$424,120
$424.1K
Cap Rate 7%
$302,943
$302.9K
Cap Rate 9%
$235,622
$235.6K
Market Conditions
NOI Build-Up for 2,000 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
$32.4K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.3K $15.15/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.2K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$424,120
Cap Rate 7%
$302,943
Cap Rate 9%
$235,622
Alternative Uses
Best Use
Multifamily LT 5
$302.9K
$265.1K – $353.4K
NOI $21,206 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$270.6K
$236.8K – $315.7K
NOI $18,944 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$480.6K
$420.5K – $560.7K
NOI $33,643 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 33850, FL
9,119
Population
4,947
Households
1.8
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
16.8 sq mi
ZIP Area
543
Density / Sq Mi
$53,877
Median Household Income
$36,563
Median Earnings
$1,072
Median Rent
$215,700
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 - Duplex for sale at 845 S Char Mil Avenue, offered as a fixer-upper with income-producing potential.
Where is this duplex located?
The property is located at 845 S CHAR MIL AVENUE Lake Alfred, FL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Duplex for sale at 845 S Char Mil Avenue, offered as a fixer‑upper with income‑producing potential; Built in 1983; Located just minutes from downtown Lake Alfred
