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5676 CHERRY TREE DRIVE
About This Property
Inside, the home features a desirable split floor plan with high ceilings that enhance the open, airy feel. Updated flooring flows throughout the main living areas, while the beautifully updated kitchen stands out with granite countertops, modern finishes, and ample cabinet space-ideal for both everyday living and entertaining.
A dedicated washer and dryer room adds everyday convenience, and the home has been well maintained with major updates already completed, including a shingle roof replaced in 2019 and a brand-new AC system installed in 2021. The septic drain field was also replaced approximately three years ago.
This property is not located in a mobile home park and offers the benefit of a very low HOA, providing flexibility without sacrificing value.
Conveniently located in Lakeland, this home offers easy access to shopping, dining, and everyday essentials, with nearby destinations such as Lakeside Village, downtown Lakeland, and a variety of parks and recreational areas. Commuters will appreciate the proximity to major roadways for easy travel to Tampa and Orlando, while still enjoying the peace and space of a more private residential setting.
With ample outdoor space and thoughtful updates throughout, including a brand new front porch deck, this property is a standout opportunity for buyers seeking comfort, convenience, and room to grow.
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Cap Rate Calculator
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 |
|---|---|---|---|
| Jun 24, 2026 | Sold | ||
| Sold | |||
| Jun 10, 2026 | In contract | - | |
| In contract | |||
| May 27, 2026 | Price Decreased |
$210,000
↓ $5K
(2.3%) | |
| Price Decreased | |||
| May 8, 2026 | Price Decreased |
$215,000
↓ $20K
(8.5%) | |
| Price Decreased | |||
| May 8, 2026 | Relisted | $235,000 | |
| Relisted | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017