Lakefront Duplex

704 Memorial Drive, Sebring, FL

7.36% return

SP: $160,000

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Property Description

*BLOWOUT PRICING* AMAZING PIECE OF PROPERTY!!! 300 feet of lake!!! 1.2 acre lot of prime real estate!!! Gorgeous landscaping, beautiful view of the lake. Largest lake frontage on Lake Sebring. Tax assessed at $199,358!!!! Awesome duplex. Brand new metal roof just installed after the storm. Concrete block construction. Central heat and air. Tenants pay all utilities. This property will generate $1500/month while going up in value. Can be converted to a single family home and flipped for HUGE profits. Tons of potential.

Property Information

Listing statusSold
Property typeMulti Family
Total units2
Total bedrooms4
Total bathrooms2
Building size1840 sq. ft.
Lot size1.1 acres
Year built1955

CountyHighlands County
SubdivisionLAKE SEBRING COUNTRY CLUB UNIT 1
ConstructionCBS
RoofAsphalt Shingle
Water sourceWell
Water disposalSeptic
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$160,000
Estimated rehab¹$0
Total investment$160,000

TypeProforma

Gross income (annually)$18,000
Operating expenses (annually)$6,216
Net income (annually)$11,784
Gross return11.25%

Gross income (monthly)$1,500
Operating expenses (monthly)$518
Net income (monthly)$982
Net return7.36%

Property Income & ExpensesMonthlyAnnual

Income

Unit A: 2 bed / 1 bath$750/month$9,000/year
Unit B: 2 bed / 1 bath$750/month$9,000/year
Total$1,500/month$18,000/year

Expenses

Property Taxes$291/month$3,496/year
Insurance$167/month$2,000/year
Lawn care$60/month$720/year
Total$518/month$6,216/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.