Two-Home Short-Term Rental
For Sale
$199,900
907 N Wabash Ave, Lakeland, FL 33815
Two fully renovated homes on one lot, each with private patio space and separate indoor layouts.
Property Size1,480 SF
Price / SF$135.07
Days on Market139
Property Features for 907 N Wabash Ave
General Information
Standard status
Active
Size
1,480 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,323
Building Details
Year Renovated
2022
Buildings
2
Listing Agency:
associate realty
Listed By:
Chrissi Jasso · License #3253299
(863) 618-4000
Source:
Exprealty
Added: Jun 16
Changed: Oct 31
Last Checked: Nov 1 at 7:31AM
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 associate realty
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Investment Insights
Based on property information with market context.
Two homes on one lot at 907 N Wabash Ave in Lakeland, FL, both fully renovated in 2022. The main home offers an open floor plan with four bedrooms and two bathrooms and 1,480 square feet of living space. The second home features open living, dining, and kitchen space with three bedrooms and 1 1/2 bathrooms.
Each home includes its own private patio space, supporting separate outdoor downtime. A large, expansive driveway provides space for parking.
The property is currently used as an Airbnb.
Each home includes its own private patio space, supporting separate outdoor downtime. A large, expansive driveway provides space for parking.
The property is currently used as an Airbnb.
Key Highlights
- Fully renovated in 2022
- Two homes on one lot
- Main home: 1,480 SF with 4 bedrooms and 2 bathrooms, open floor plan
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,018
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,360
$280.4K
Cap Rate 7%
$200,257
$200.3K
Cap Rate 9%
$155,756
$155.8K
Market Conditions
NOI Build-Up for 1,480 SF
Gross rent
$27.2K $18.36/SF
− Vacancy
−$1.7K −$1.14/SF
EGI
$25.5K $17.22/SF
− OpEx
−$11.5K −$7.75/SF
NOI
$14.0K $9.47/SF
Area
Lakeland, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$280,360
Cap Rate 7%
$200,257
Cap Rate 9%
$155,756
Alternative Uses
Best Use
Apartment 5plus
$200.3K
$175.2K – $233.6K
NOI $14,018 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
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.
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Property Analytics
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Open Analytics
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 - Two fully renovated homes on one lot, each with private patio space and separate indoor layouts.
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: Fully renovated in 2022; Two homes on one lot; Main home: 1,480 SF with 4 bedrooms and 2 bathrooms, open floor plan
