115 EMMA ST  •  $105,900
LAKELAND, Florida 33815


Investors. Here is a super rare opportunity to own a large triplex that is made up of a 3 bdrm 1 bath, a 4 (or 5) bdrm 1 bath, and a 1/1 single family house. The single family home could use a little love, but is rented for $500 per month to a long time tenant who would be happy to stay. The duplex: 1st level: 3 bdrms 1 bath but could be modified to be a 4/1 or 4/2. Currently has 3 good sized bedrooms, a large living room, and formal dining room (that could be turned into a 4th bdrm). Also has a large laundry room that could be easily made into 2nd bath. Upstairs unit is currently setup as a 5/1 and was most recently rented by the room for maximum cash flow. With no modification besides taking the door off the hinges, the 5th bdrm can be made into a living room. Super low taxes of only $634 per year. Cash flow analysis 1/1 SFR already rented for $500 . 3/1 1st level of duplex $800 market rent (or turn into 4 bdrm and rent each room for $350 per month = $1400 . 4/1 2nd level of duplex $900 market rent (or rent 5 bdrms for $350 per month = $1750 monthly rental income $2,200 or as high as $3,650 by renting rooms. We can finance this property with $38k down. Here's what the numbers would look like: $2200 market rent with 3 leases (aka not renting by the room) -53 monthly portion of property taxes -70 monthly portion of property insurance -525 monthly mortgage (80% LTV)= $1,552 net positive cash flow $18,624 annual net positive cash flow.

Listed By: Pineywoods Realty LLC

  • MLS #: T2881705
  • Acres: 0.10
  • Taxes: $690 for 2016
  • Built in 1900
  • Exterior Features: Balcony/Sun Deck,Patio/Porch/Deck Covered,Patio/Porch/Deck Open
  • Exterior Construction: Stucco,Wood Frame
  • Roof: Shingle
  • A/C: Central
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