643 West Oak Terrace Dr #2b, Leesburg Fl
Lake County Real Estate - Leesburg
Leesburg is a city in Lake County, Florida in East Central Florida. It's population as recorded in the 2010 Census was 20,117. Leesburg is approximately 11 miles from The Villages (population 51,442) and around 24 miles from Apopka (population 41,542). It is located at the head of the Oklawaha River System, between Lake Harris and Lake Griffin, and is part of the Orlando-Kissimmee-Sanford Metropolitan Statistical Area.
In 2014 median family income for a family in Leesburg was about $33,000 a year, making it home to many smaller ranch-style houses. In addition to being located between two of Lake County's major lakes, the city also has many other smaller bodies of water, like the pond at Venetian Garden's Park. The town is also home to the Leesburg International Airport, performing over 50,000 takeoffs and landings every year.
The median age for residents of Leesburg is 40.7. Around 28% of Leesburg households include school aged children and 37.2% of households include individuals aged 65 years or over. Census records indicate 63.4% of the Leesburg population are White, 28.1% are Black or African American, .3% American Indian, 1.7% Asian and 2.6% are Two or more Races.
There are 10,625 housing units in Leesburg. 2,140 (20.1%) of these were reported as vacant in the 2010 Census. There are 5,000 residential rental units in Leesburg. 4,019 of them were occupied in 2010 providing a residential rental vacancy rate of 19.1%.
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Lake County
Lake County is located in the east central Florida region, along with Brevard, Orange, Volusia, Sumter, Seminole, and Osceola counties. Cities of Lake County include Astatula, Clermont, Eustis, Fruitland Park, Groveland, Lady Lake, Leesburg, Mascotte, Minneola, Montverde, Mount Dora, Tavares, and Umatilla. Lake County has approximately 1,400 named lakes. It is home to around 300,000 people. About one in four residents are over the age of 65.
Top industries in Lake County are retail, healthcare, construction, and food services. Major private sector employers for Lake County are Leesburg Regional Medical Center, Wal-Mart, Villages of Lake Sumter Inc., Florida Hospital-Waterman, and Publix Supermarkets. Top public sector employers are Lake County Public Schools, Lake County Government, and Lake County Sheriff's Department.
The county seat is Tavares, a city with a population over 12,000. A third of the people who live in Tavares are over age 65. The city?s economic strength lies in services, especially healthcare and retail.
Leesburg is a city of over 20,000. Nestled among the Harris Chain of Lakes, maritime recreational opportunities abound, including boating and fishing.The area hosts many full-service retirement communities. The Leesburg Regional Airport features two runways for general aviaion craft.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 643 West Oak Terrace Dr #1b | Condominium | 1,089 | B |
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| 643 West Oak Terrace Dr #3b | Condominium | 1,089 | B |
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| 643 West Oak Terrace Dr #4b | Condominium | 1,089 | B |
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| 643 West Oak Terrace Dr #3a | Condominium | 1,089 | B |
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| 643 West Oak Terrace Dr #4a | Condominium | 1,089 | B |
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| 643 West Oak Terrace Dr #2a | Condominium | 1,089 | B |
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| 643 West Oak Terrace Dr #1a | Condominium | 1,089 | B |
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| 631 West Oak Terrace Dr | Single Family | 840 | B |
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| 629 West Oak Terrace Dr | Single Family | 1,312 | B |
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| 633 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 635 West Oak Terrace Dr | Single Family | 840 | B |
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| 715 West Oak Terrace Dr | Office building, non-professional service building, multi-story | 14,854 | B |
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| 637 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 639 West Oak Terrace Dr | Single Family | 840 | B |
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| 641 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 800 West North Blvd | Financial institution (bank, saving and loan company, mortgage company, credit services) | 18,520 | B |
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| 625 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 623 West Oak Terrace Dr | Single Family | 840 | B |
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| 627 West Oak Terrace Dr | Single Family | 840 | B |
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| 621 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 619 West Oak Terrace Dr | Single Family | 840 | B |
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| 617 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 706 Lee St | Multi-family - less than 10 units | 5,184 | B |
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| 615 West Oak Terrace Dr | Single Family | 840 | B |
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| 708 Lee St | Office building, non-professional service building, one story | 2,013 | C |
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| 600 West North Blvd | Professional service building | 20,000 | B |
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| 613 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 712 West Oak Terrace Dr | Multi-family - 10 units or more | 20,072 | B |
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| 715 North 3rd St | Single Family | 951 | B |
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| 611 West Oak Terrace Dr | Single Family | 840 | B |
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| 609 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 711 North 3rd St | Professional service building | 15,300 | B |
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| 800 Lee St | Private school or college | 3,056 | B |
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| 816 West North Blvd | Store, one story | 320 | L |
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| 607 Oak Terrace Dr | Single Family | 840 | B |
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| 605 West Oak Terrace Dr | Single Family | 1,117 | B |
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| 600 West Oak Terrace Dr | Private school or college | 20,092 | B |
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| 733 North 3rd St | Professional service building | 1,670 | B |
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| 603 West Oak Terrace Dr | Single Family | 1,152 | B |
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| 705 Lee St | Single Family | 899 | B |
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Local Household Income
The median household income in this part of Florida is $59,480. The bottom 10% of the population earn less than $23,412 per year. The top 10% earn more than $133,921 per year. The top 1% earn more than $386,477 per year. Most renters earn between $26,916 (20th percentile) and $46,824 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $118,960 and $148,700.
The tax assessed value of this property places it in percentile 9 of all properties in this area. This suggests it would appeal to someone earning around $21,950 per year who should qualify for a mortgage between $43,900 and $54,875.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,014. Most renters earn between $2,243 and $3,902 per month. They typically spend 37% of their monthly income on rent. Most rents fall in the $752 (20th percentile) to $1,392 (80th percentile) range. The residential vacancy rate is 12%.
This property falls in percentile 9 of all properties in this area. This corresponds to a rent of $606 per month and a monthly household income of $1,765 ($21,180 per year)
Nearby Companies
701 W North Blvd
643 W Oak Terrace Dr