Two-Home Short-Term Rental
For Sale
$199,900
907 N WABASH AVE, Lakeland, FL 33815
Residential Income, LAKELAND, FL
Property Size1,480 SF
Lot Size0.20 Acres
Price / SF$135.07
Days on Market142
Property Features for 907 N WABASH AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C-3
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Dining Room, Bedroom 6, Bathroom 2, Bedroom 5, Laundry Room, Bathroom 4, Bedroom 3, Bedroom 7, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo, Split Bedroom, Stone Counters
Exterior features
Sidewalk
Appliances
Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
ROANOKE HILLS SUB
Lot features
Near Public Transit, Sidewalk, Paved
Elementary school
Lincoln Avenue Academy
Middle school
Lawton Chiles Middle
High school
Kathleen High
Directions
Take US 92 W toward Lakeland, continue on FL-546/State Hwy 546/E Memorial Blvd for about 4 miles, turn left on Strain Blvd, right on W Parker St, right on N Wabash Ave, home will be on the right.
Standard status
Active
APN
23-28-14-079500-003120
Size
1,480 SF
Lot size
0.20 Acres
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
ROANOKE HILLS SUB PB 13 PG 37 BLK C LOTS 12 & 13 LESS HIGHWAY S14/15 T28 R23
Tax Annual Amount
3324
Legal Description
ROANOKE HILLS SUB PB 13 PG 37 BLK C LOTS 12 & 13 LESS HIGHWAY S14/15 T28 R23
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private patio
Building Details
Year built
1930
Floors in Building
1
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Vinyl Siding
Roof type
Shingle
Buildings
2
Listing Agency:
ASSOCIATE REALTY
Listed By:
Chrissi Jasso · License #3253299
(863) 618-4000
Added: Jun 15
Changed: Oct 28
Last Checked: Nov 3 at 11:06AM
MLS# P4939056
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.
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Investment Insights
Based on property information with market context.
Set on a 0.2-acre lot, the property includes two homes that were renovated in 2022. The main residence offers 1,480 square feet, with 4 bedrooms, 2 bathrooms, and an open floor plan. The second home has 3 bedrooms, 1 1/2 baths, and an open living, dining, and kitchen area. Each residence has its own patio space, and driveway parking is provided. The property is currently used as an Airbnb and is zoned C-3.
Public water and a septic system serve the property.
Public water and a septic system serve the property.
Key Highlights
- Two homes on a 0.2‑acre lot, renovated in 2022
- Main residence: 1,480 square feet, 4 bedrooms, and 2 bathrooms
- Second home: 3 bedrooms and 1 1/2 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,692
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,840
$313.8K
Cap Rate 7%
$224,171
$224.2K
Cap Rate 9%
$174,356
$174.4K
Market Conditions
NOI Build-Up for 1,480 SF
Gross rent
$24.0K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$22.4K $15.15/SF
− OpEx
−$6.7K −$4.54/SF
NOI
$15.7K $10.60/SF
Area
Lakeland, 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 Rate 5%
$313,840
Cap Rate 7%
$224,171
Cap Rate 9%
$174,356
Alternative Uses
Best Use
Multifamily LT 5
$224.2K
$196.2K – $261.5K
NOI $15,692 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$200.3K
$175.2K – $233.6K
NOI $14,018 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$355.7K
$311.2K – $414.9K
NOI $24,896 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
386
Businesses Nearby
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Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Separate patio areas and driveway parking serve both residences on a single parcel.
Where is this short term rental property located?
The property is located at 907 N WABASH AVE Lakeland, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two homes on a 0.2‑acre lot, renovated in 2022; Main residence: 1,480 square feet, 4 bedrooms, and 2 bathrooms; Second home: 3 bedrooms and 1 1/2 baths
