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About this home
115 Emma St is a 1900-built home in Patterson & Cox Sub, Lakeland. Inside you'll find 7 bedrooms, 5 bathrooms, and 2,696 square feet of living space. Listed at $334,990 (about $124/sqft), 104 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
Don’t miss this exceptional redevelopment and income-producing opportunity in the rapidly growing Lakeland market. Situated on a single parcel, this property consists of three total residential units across two separate buildings: * One duplex with separate electric meters for each unit. * One detached single-family home. Included with the sale are professionally completed Mechanical, Electrical, and Plumbing (MEP) plans, providing a significant head start for redevelopment and substantially reducing the time and expense required before construction. Proposed Redevelopment Plans * Detached Single-Family Home: Reconfigured into a modern 3-bedroom, 2-bathroom residence. * Duplex: Complete redesign into two expansive 5-bedroom, 3-bathroom units, creating a total of 13 bedrooms and 8 bathrooms across the property. The proposed layouts maximize rental potential while incorporating modern floor plans, updated building systems, and efficient use of space. Whether your strategy is traditional multifamily rentals, co-living, workforce housing, or another high-income rental model, this property offers exceptional flexibility. Located just minutes from downtown Lakeland with convenient access to Interstate 4, the property benefits from strong rental demand while offering easy access to both Tampa and Orlando.
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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
$334,990
$124 per sq ft
Beds and baths
7 beds, 5 baths
Size
2,696 sq ft
Time on market
104 days
Year built
1900
Monthly payment
About $2,073/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $1,903 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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