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About This Property
Situated in a desirable residential area, this property offers convenient access to South Scenic Highway (approximately 0.32 miles), Frostproof Elementary School (0.59 miles), Frostproof Middle-Senior High School (1.70 miles), Frostproof City Dock (0.80 miles), Freedom Station Park (0.92 miles), and Save-A-Lot supermarket (1.67 miles). The lot is located in Flood Zone X (minimal flood hazard), indicating the land is outside high-risk flood areas with no special flood insurance requirements or major elevation mandates typically needed. No wetlands identified nearby, allowing for full lot utilization without environmental buffers, mitigation requirements, permitting delays, or buildable area reductions.
The property is within the City of Frostproof (Polk County) municipal limits with zoning district specific code undetermined. Allowed residential development varies by exact district (e.g., R-1, R-2, R-3) and typically includes single-family detached homes by-right; duplexes/townhomes by-right or conditional in R-2/R-3; multifamily/apartments in R-3 with density limits; modular homes often permitted; mobile homes usually restricted.
Buyer should verify all zoning, setbacks, utility availability, and development requirements with the City of Frostproof Planning Department.
The property is available for a self-guided tour. Subleasing is not permitted. This lot is not available for rent or lease.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jan 24, 2026 | Listed by Sunland Real Estate, LLC. | $38,000 | |
| Listed by Sunland Real Estate, LLC. | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017