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About this home
640 E Grapefruit Ave is a 2023-built home in Highland Sub, Lake Alfred. Inside you'll find 4 bedrooms, 4 bathrooms, and 1,800 square feet of living space. Listed at $429,000 (about $238/sqft), 40 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
Prime investment opportunity in Lake Alfred! Built in 2023, this modern, turn-key duplex delivers instant cash flow with tenants already in place. Sitting on a ~0.17-acre lot with a private, fully fenced yard and NO HOA, this property offers ultimate flexibility for hands-off landlords or house-hackers looking to live in one side and offset their mortgage. Both units boast a functional, open-concept 2-bedroom, 2-bathroom layout finished with fresh paint, durable low-maintenance flooring, and upgraded stainless steel appliances. Positioned right in the heart of town, residents enjoy fast access to US-17/92 and I-4 for effortless commutes to Orlando or Tampa, along with close proximity to local lakes, the Chain of Lakes Trail, and a planned Publix-anchored development. Portfolio Opportunity: Motivated seller! Can be acquired individually or bundled with the matching, 1,800 sq ft duplex right next door at 650 E Grapefruit Ave (Parcel:26-27-28-493500-001141) for a target 6.24% portfolio cap rate. Multiple financing options available—schedule your private tour today!
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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
$429,000
$238 per sq ft
Beds and baths
4 beds, 4 baths
Size
1,800 sq ft
Time on market
40 days
Year built
2023
Monthly payment
About $2,950/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $5,987 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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