LAKEWOOD OF PALM SPRINGS
198 Lake Arbor Drive, Palm Springs FL 33461
2 beds · 2 baths · 1,232 ft²
2
Bedrooms
2
Bathrooms
1,232
Sq. Ft.
1978
Year Built
1
Stories
58
Days on Market
Description
Turnkey investment opportunity with immediate rental income! This updated 2-bed, 2-bath townhome is tenant-occupied, offering instant cash flow from day one. Major capital improvements have already been completed, including a new roof, AC system, electric panel, flooring, fresh interior paint, and renovated bathrooms—minimizing future maintenance costs for investors. The upgraded kitchen features white shaker cabinetry, butcher block countertops, and stainless steel appliances, adding strong tenant appeal. Additional highlights include low HOA fees, accordion hurricane shutters for storm protection, a fenced front patio & two assigned parking spaces. Ideal for investors seeking a stabilized, income-producing property with strong rental appeal and minimal deferred maintenance.
Facts
- MLS#
- B26013829
- Subdivision
- LAKEWOOD OF PALM SPRINGS
- Property Type
- Residential
- Property Sub Type
- Townhouse
- Year Built
- 1978
- Lot Size
- 1,307 ft²
- Sq. Ft.
- 1,232 ft²
- Sq. Mt.
- 114 m²
- Price per sq. ft.
- $260/ft²
- Price per sq. mt.
- $2,807/m²
- Stories
- 1
- Garage
- —
- Pool
- —
- Days on Market
- 58 days
- Listed
- Apr 10, 2026
- Last Updated
- May 31, 2026
- Price/Lot Sq.Ft.
- $245/ft²
Comparable homes
Same ZIP, similar price + bedrooms.
$320,000
2 bd · 2 ba · 1,232 sqft
294 Arabian Road # 294, Palm Springs FL 33461
$323,000
2 bd · 2 ba · 1,232 sqft
255 Lake Arbor Drive, Palm Springs FL 33461
$316,000
2 bd · 2 ba · 1,232 sqft
251 Lake Arbor Drive, Palm Springs FL 33461
$315,000
2 bd · 2 ba · 1,232 sqft
256 Lake Arbor Drive, Palm Springs FL 33461
$325,000
2 bd · 2 ba · 1,232 sqft
215 Lake Arbor Drive, Palm Springs FL 33461
$314,900
2 bd · 2 ba · 1,232 sqft
79 Lake Arbor Drive # 79, Palm Springs FL 33461
$330,000
2 bd · 2 ba · 1,232 sqft
99 Lake Arbor Drive, Palm Springs FL 33461
$305,000
2 bd · 2 ba · 1,232 sqft
128 Lake Arbor Drive, Palm Springs FL 33461
Market insights for Palm Springs
Live MLS-derived activity. Forecast is a conservative rule-of-thumb estimate — not a guarantee.
Sellers market
August 2026
26
Median days to sold
+4.5%
1-year price forecast (est.)
Price & tax history
From the live MIAMI MLS feed. Older history requires the ListingHistory resource (not yet enabled).
| 5/20/2026 | Price change | $319,999-1.5% |
| 4/10/2026 | Listed for sale | $325,000 |
History reflects fields present on the live MLS record. Full multi-year history requires the MIAMI ListingHistory resource (not yet enabled).
Location
Estimated Monthly Payment
$2,120/mo
Principal & Interest
$1,703
Property Tax
$267
Insurance
$150
HOA
$0
Estimates only. Actual payment depends on credit, lender, insurance carrier, and FL/Miami-Dade specifics. Contact Rangely for a precise quote.
The data relating to real estate for sale on this website comes in part from the Southeast Florida Multiple Listing Service. MLS Data is deemed reliable, but is not guaranteed accurate by MIAMI REALTORS®.
Accuracy of listing information is not guaranteed. Listing information is provided for personal consumer, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may be a violation of federal and state law.
Copyright Southeast Florida MLS a/k/a SEFMLS © 2026.
Updated within 24 hours
Similar listings nearby
More homes in Palm Springs around $319,999.
407 Arabian Road, Palm Springs FL 33461
17 LAKE ARBOR Drive, Palm Springs FL 33461
256 Lake Arbor Drive, Palm Springs FL 33461
62 Springdale Circle, Palm Springs FL 33461
234 Lake Arbor Drive, Palm Springs FL 33461
255 Lake Arbor Drive, Palm Springs FL 33461