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About this home
646 Beverly Dr is a 1983-built home in Ridge Manor, Lake Wales. Inside you'll find 4 bedrooms, 2 bathrooms, and 1,782 square feet of living space. Listed at $275,000 (about $154/sqft), 31 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
Virtually Staged. INVESTMENT OPPORTUNITY in Lake Wales! This well-constructed brick duplex presents an excellent opportunity to acquire an income-producing property with additional value-add potential. The property consists of two spacious 2-bedroom, 1-bath units, each offering an oversized driveway for ample off-street parking and access to a fenced-in backyard. The durable brick construction and solid foundation provide a strong starting point for continued ownership and improvement. Several significant updates have already been completed. Unit 648 features an AC system, water heater, and luxury vinyl plank flooring installed approximately two years ago. The property was also updated with new plumbing approximately two and a half years ago, and the septic tank and drain field were replaced approximately four and a half years ago. One unit is currently rented, while the second unit is vacant and provides an opportunity for an investor to renovate, lease, and increase overall income potential. With approximately $30,000 in potential annual rental income when fully occupied, this property offers the opportunity to combine existing rental income with future upside through strategic improvements. Located in Lake Wales, the property provides convenient access to local shopping, dining, schools, parks, and major roadways, making it a practical location for both residents and rental tenants. A solid opportunity for an investor seeking a two-unit property with established improvements and room to add value.
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The essentials
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Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$275,000
$154 per sq ft
Beds and baths
4 beds, 2 baths
Size
1,782 sq ft
Time on market
31 days
Year built
1983
Monthly payment
About $1,856/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $3,415 annual tax bill, insurance.
Flood zone
Zone X
That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.
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