118 S WATERLOO AVENUE, LAKELAND, FL, 33801
Active1 days on marketListed Oct 17, 2026MLS #L4965853
About this home
118 S WATERLOO AVENUE
RARE OPPORTUNITY IN THE HEART OF DOWNTOWN LAKELAND! Historic charm meets investment potential in this distinctive 1917 duplex offering approximately 2,412 square feet per public records, multi-family zoning, and NO HOA! Whether you're looking to expand your investment portfolio or live in one unit while renting out the other, this property offers exceptional versatility in a sought-after downtown location. Built with cedar wood framing, this charming property features two separate living units. The first-floor unit offers 2 bedrooms, 1 bathroom, beautiful real wood flooring, a kitchen with granite countertops, and a flexible bonus space with a washer and dryer, ideal for a family room, home office, or hobby area. The second-floor unit features 1 bedroom, 1 bathroom, and an additional multipurpose room, offering flexibility to suit a variety of needs. The upstairs unit also has its own gas and electric meters. Step outside and discover one of this property's standout features: a spacious covered deck designed for outdoor living and entertaining! The outdoor kitchen features a farmhouse-style sink, cabinetry, a built-in grill, and a wine cooler, with the grill and wine cooler INCLUDED IN THE SALE! Whether hosting weekend gatherings or simply enjoying a quiet Florida evening, this inviting outdoor space is sure to impress. The front yard showcases distinctive landscaping with decorative stone and a variety of succulents, creating beautiful curb appeal with minimal lawn maintenance. Additional highlights include a NEW ROOF installed in April 2025 and a first-floor water heater approximately 6 years old. And let's talk about LOCATION! Just a short walk from scenic Lake Mirror, the beautiful 1.2-acre Hollis Garden, The Joinery artisan food hall, and Downtown Lakeland's vibrant selection of restaurants, shops, and entertainment. Enjoy the convenience of having some of the city's most popular destinations right outside your door! BOTH UNITS WILL BE DELIVERED VACANT AT CLOSING, allowing the next owner the flexibility to move in, lease the units, or explore other permitted uses. With NO HOA, historic character, and an unbeatable downtown location, this is a unique opportunity you won't want to miss! Schedule your private showing today. Buyer and buyer's agent to verify square footage, measurements, zoning, and intended uses.
Facts & features
The home at a glance
4
Bedrooms
2
Bathrooms
2,412
Sqft
0.14 ac
Lot size
1917
Year built
Multi/Split
Levels
$222
Per sqft
Inside
Outside & construction
Community & fees
Utilities & systems
The numbers
What it really costs
Built from this home's actual numbers — the most recent property-tax bill on record — not generic estimates.
$3,669 /mo · 3.5% down FHA, 30-yr fixed at 6%
The assumptions
FHA is the default here because it gets you in the door with just 3.5% down. Switch to Conventional or VA below.
These numbers assume a generic buyer — your credit, down payment and loan program change them. Get the real quote in minutes:
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Run your own numbers
Estimated payment
$3,669/mo
Includes FHA mortgage insurance and the financed 1.75% upfront premium. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Value check
Is the price right?
The internet’s favorite home-value number comes from a single automated model that has never seen the street, the finishes, or the view — which is why it routinely misses by tens of thousands of dollars. The edgeAI estimate combines multiple independent data sources with our team’s on-the-ground expertise in this exact market.
$/sqft vs Lakeland actives
$222 vs $194
Days on market
1 vs 60 typical
Where $222/sqft sits among the 400 Lakeland actives
The edgeAI estimate is a starting point, not an appraisal or a broker price opinion. It is generated from public records, listing data and market modeling, and is subject to change once a licensed real estate professional personally inspects the property. Condition, floor, view and lot are not fully captured by any model — ask us for a full comparative market analysis.
Where it sits
Inside Downtown Lakeland
Drive times from this address
Estimated driving times, typical traffic. Data © OpenStreetMap contributors.
Get to know Lakeland. See the full Lakeland guide →
Downtown Lakeland — neighborhood snapshot
Population
811
Median age
35
Median income
$35,018
Median home value
$237,441
Avg household
2
Households w/ children
53%
For the school run
Polk County School District
School assignments and ratings via edgeAI — always verify with the district.
The numbers that matter
The Lakeland market
$316K → $322K
Lakeland median sold, yr/yr
97.8%
Sale-to-list ratio (12 mo)
222 of 400
Lakeland actives have cut their price
Median sold price, Lakeland, trailing 36 months (3-month rolling) · live MLS data.
This home is listed 110% above the LAKELAND 33801 median. See the full Lakeland market guide →
Paper trail
This home's history
Reality check
What actually sold near 118 S WATERLOO AVENUE
Asking prices are opinions — closed sales are facts. The most comparable homes that actually changed hands nearby in the last twelve months.
Sold · Feb ’26$207,000
109 BLUEFIELD AVENUE · same community
2 bd · 1 ba · 962 sqft · $215/sqft · 59 DOM
Sold · Jul ’26$388,000
1524 NEW JERSEY OAKS COURT
3 bd · 2 ba · 2,405 sqft · $161/sqft · 375 DOM
Sold · May ’26$550,000
1016 MISSISSIPPI AVENUE UNIT 101, 102 & 103
5 bd · 3 ba · 2,454 sqft · $224/sqft · 34 DOM
Closed-sale data from the MLS, last 12 months, selected for similarity in size and location. No two homes are identical — ask us for a full comparative analysis.
Your home team
The pros in your corner
Buying a home is two conversations — the home and the money. Here’s who handles each, side by side, already working together.
Your agent
Shawn Headley
Realtor · CENTURY 21 Edge
Tours, negotiation, and every question about 118 S WATERLOO AVENUE — start here.
Your lender
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Pre-approval, rates, and the real monthly number for 118 S WATERLOO AVENUE — before you fall in love.
See it in person
Schedule a tour
Live availability from Shawn's calendar — pick a time and it's booked. Confirmation lands in your inbox immediately.
Straight answers
118 S WATERLOO AVENUE FAQs
What would the monthly payment be for 118 S WATERLOO AVENUE?+
With 3.5% down on a 30-year FHA loan at 6%, the all-in payment lands around $3,669/mo — principal and interest, the actual property-tax bill and typical Florida insurance. The payment calculator on this page lets you switch loan type (FHA, Conventional, VA) and adjust the down payment, rate and term.
What are the property taxes on 118 S WATERLOO AVENUE?+
The most recent tax bill on record (2025) was $1,469. A new owner's bill can differ once the sale price resets the assessed value — we can walk you through what to expect.
How does the price compare to other homes in Lakeland?+
At $535,000, this home is listed about 61% above the Lakeland median of $331,450. The market section on this page shows how the area is trending.
Which schools are assigned to 118 S WATERLOO AVENUE?+
Philip O'Brien Elementary School (elementary), Lakeland Senior High School (high), Sleepy Hill Middle School (middle) — Polk County School District. Always verify school assignments with the district before relying on them.
Keep looking
Similar homes nearby
Listing courtesy of TFP FLORIDA REALTY LLC · Marilyn Davis. MLS #L4965853.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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