281 Leelon Road

Sold 4/16/26
Sold 4/16/26
Gallery Image 1
Last Sold Price
$300,000
4 beds2 baths1,842 sqft$163/sqft
281 Leelon Rd, Lakeland, FL 33809

Description

One or more photo(s) has been virtually staged. Income-producing full duplex in the desirable Lake Gibson area of Lakeland. No HOA. This solid block property was built in 1981 and offers two separate 2-bedroom, 1-bath units totaling 1,842 square feet of living space. Each unit is separately metered, and tenants pay their own utilities, helping keep operating costs lower for the owner. The property currently generates $2,550 per month ($30,600 annually) in rental income with tenants paying $1,265...One or more photo(s) has been virtually staged. Income-producing full duplex in the desirable Lake Gibson area of Lakeland. No HOA. This solid block property was built in 1981 and offers two separate 2-bedroom, 1-bath units totaling 1,842 square feet of living space. Each unit is separately metered, and tenants pay their own utilities, helping keep operating costs lower for the owner. The property currently generates $2,550 per month ($30,600 annually) in rental income with tenants paying $1,265 and $1,285 per month. Based on current rents and typical operating assumptions, the property produces an estimated Net Operating Income of approximately $21,600 annually, representing an estimated cap rate near 6.9% at the current list price of $314,900. All financial figures are estimates and should be verified by buyer. Current rents appear slightly below market for similar 2-bedroom units in the area, which commonly rent in the $1,250–$1,350 range, providing potential upside as leases renew. Existing leases run through December 2026 and January 2027, offering stable near-term income. Several improvements have already been completed to help minimize near-term capital expenses. New windows and front doors were installed in April 2024, and a third nail for wind mitigation was added in June 2023. Unit 281 features a renovated kitchen with updated counters (2019) and new LVP bathroom flooring (2024). Unit 283 includes a newer dishwasher (2019) and a replaced AC unit in 2020. Situated on a 0.25-acre lot in unincorporated Polk County, the property is conveniently located near Lake Gibson, shopping, dining, and major commuter routes. With stable tenants, block construction, recent improvements, individual utility metering, and potential rent growth, this duplex presents a strong opportunity for investors seeking current income with long-term upside.
LISTING CLOSED: 04/16/2026 12:00 AM

  1. Listed by Cat Calvosa • Brokerage DRE #1017403 • KELLER WILLIAMS REALTY SMART
    P: (703) 399-0785 C: (703) 399-0785 catcalvosa@kw.com

Property Details for 281 Leelon Road

Status
Sold
MLS #
L4959798
Days on Market
8
Taxes
$3,710 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Multi Family
MLS Type
Residential Income / Duplex
Year Built
1981
Lot Size
0.25 AC / 10,890 SF
County
Polk County
Subdivision Name
LAKE GIBSON VILLAS PH 02
Township
27
Waterfront
No
Furnished
Unfurnished
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Location

Listing Courtesy of KELLER WILLIAMS REALTY SMART, Cat Calvosa

Sold By HONOR REAL ESTATE, Matthew Lackey

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Building Information for 281 Leelon Road

Stories-Residences2Year Built1981Building Size-Lot Size0.25 AC / 10,890 SF

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$1,834 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,525

Property Taxes

$309

HOA Dues

$0

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Property Information for 281 Leelon Road

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 1952.0
  • Building Area Units: Square Feet
  • Directions: From I-4: Take Exit 32 (US-98 N). Head north on US-98 N for approximately 4 miles. Turn right onto Marcum Rd. Continue to Old Polk City Rd and turn left. Turn right onto Leelon Rd. Property will be on the right. From Downtown Lakeland: Head north on Florida Ave (US-98 N). Continue approximately 5–6 miles. Turn right onto Marcum Rd. Turn left onto Old Polk City Rd, then right onto Leelon Rd. Property will be on the right. From US-98 N / Socrum Loop Area: Travel south on US-98 N. Turn left onto Marcum Rd. Turn left onto Old Polk City Rd. Turn right onto Leelon Rd. Property on right.
  • Elementary School: Padgett Elem
  • Middle Or Junior School: Lake Gibson Middle/Junio
  • High School: Lake Gibson High
  • Mls Major Change Type: Sold
  • Major Change Type: Closed
  • Listing Service: Full Service
  • Senior Community: No
  • Unit Number: No
  • Street Number: 281
  • Street Name: LEELON
  • Street Suffix: ROAD
  • State: FL
  • City: LAKELAND
Parking
  • Carport: No
  • Garage: No
  • Parking Features: Driveway
Taxes and HOA Information
  • Association Approval Required: No
  • Association: No
  • CDD: No
  • Number Of Pets: 2
  • Pet Restrictions: Per landlord discression
  • Tax Book Number: 71-25
  • Tax Legal Description: LAKE GIBSON VILLAS PHASE 2 PB 71 PG 25 LOT 3
  • Tax Lot: 3
  • Tax Year: 2025
Virtual Tour
Property
Lot Information
  • Additional Parcels: No
  • Lot Size Dimensions: 33 x 165
  • Parcel Number: 242719161330000030
  • Total Acreage: 1/4 to less than 1/2
  • Total Num Buildings: 1
  • Water Access: No
  • Water Extras: No
  • Zoning: R-2
  • Living Area: 1842
  • Lot Dimensions: 33 x 165
Property and Assessments
  • Year Built Numeric: 1981
  • Flood Zone Code: X
  • Flood Zone Date: 12-22-2016
  • Flood Zone Panel: 12105C0302G
  • Homestead: No
  • New Construction: No
  • Property Attached: Yes
  • Property Condition: Completed
  • Public Survey Range: 24
  • Public Survey Section: 19
  • Dock YN: No
Utilities
  • Sewer: Septic Tank
  • Utilities: BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Water Connected
  • Water Source: Public
  • Num Electric Meters: 2.0
  • Num Water Meters: 2.0
Interior and Exterior Features
Exterior Features
  • Construction Materials: Block
  • Exterior Features: Fenced, Private Yard, Storage
  • Foundation Details: Slab
  • Levels: One
  • Pool Private: No
  • Pool: None
  • Pool Private: No
  • Roof: Shingle
  • Waterfront Feet Total: 0
Interior Features
  • Bedrooms Total: 4
  • Additional Rooms: Family Room, Storage Rooms
  • Appliances: Dishwasher, Electric Water Heater, Range, Range Hood, Refrigerator
  • Cooling: Central Air
  • Fireplace: No
  • Heating: Electric
  • Interior Features: Thermostat
  • Laundry Features: Laundry Closet
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: No
Multi Family
Multi-Family Information
  • Annual Expenses: $8,969
  • Annual Net Income: $21,631.00
  • Est Annual Market Income: $31,200.00
  • Gross Income: $30,600
  • Total Monthly Expenses: $747
  • Unit Count: 2
Rental
Rental Information
  • Tenant Pays: Electricity, Water
  • Total Actual Rent: $2,550
  • Pets Allowed: Cats OK, Dogs OK

Property History for 281 Leelon Road

DateEvent & SourcePriceAppreciation
Apr 16, 2026

Sold

MFRMLS #L4959798

$300,000—
Apr 15, 2026

Sold (Public Record)

Public Record #1936435149

$300,000

+8.8% / yr

Mar 13, 2026

Pending

MFRMLS #L4959798

—
DateEvent & SourcePrice
04/16/2026

Sold

MFRMLS #L4959798

$300,000
04/15/2026

Sold (Public Record)

Public Record #1936435149

$300,000

+8.8% / yr

03/13/2026

Pending

MFRMLS #L4959798

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 281 Leelon Road

Taxable ValueLand-Additions-Total-
Tax Record2025$2,433 ($203 / month)
Home Facts
Baths1Total Finished SqFt1,842 SqFtAbove Grade Finished SqFt1,842 SqFtStories1Lot Size10,890 SqFtStyleDuplexYear Built1981Year Renovated2011ZoningR2CountyPOLKAPN24-27-19-161330-000030

Schools near 281 Leelon Road

This home is within Polk.
Rating
School
Type
Grades
Distance
Combee Academy of Design and Engineering
Public - PK to 5
Winston Academy of Engineering
Public - PK to 5
Edgar L. Padgett Elementary School
Public - PK to 5
Rochelle School Of The Arts
Public - PK to 8
Rating
School
Distance
Combee Academy of Design and Engineering
PublicPK to 5

Winston Academy of Engineering
PublicPK to 5

Edgar L. Padgett Elementary School
PublicPK to 5

Rochelle School Of The Arts
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 281 Leelon Road, Lakeland, FL 33809
$300,000
4
2
1,842
10,890
5850 Odom Road, Lakeland, FL 33809
–
–
1
1,842
13,007
269 Leelon Road, Lakeland, FL 33809
$52,000
–
1
1,842
10,890
5840 Odom Road, Lakeland, FL 33809
–
–
1
1,842
13,020
263 Leelon Road, Lakeland, FL 33809
–
–
1
1,842
10,890
282 Leelon Road, Lakeland, FL 33809
$105,000
–
1
1,842
10,890

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KELLER WILLIAMS REALTY SMART, Cat Calvosa

The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 04/16/2026 03:07 PM