Lake Alfred is a town located in Polk County, Florida. Lake Alfred is part of the Lakeland-Winter Haven Metropolitan Statistical Area, yet its small population (just ~5,900 people as of the 2020 Census) allows it to retain a decidedly small-town feel.
In this article, we’ll be going over what you should know about real estate investing in Lake Alfred. Keep reading for more details.
Lake Alfred: Early History
Lake Alfred was established early on in South Florida’s history, having been built almost immediately after the South Florida Railroad came to the area in 1883. Sometimes called Chubb, sometimes called Fargo, and sometimes called Bartow Junction, Lake Alfred was popular among snowboards looking to escape the cold winters of North Dakota (thus the name Fargo) and other far-North areas.
Lake Alfred’s current title was finally adopted in 1913. It was named after — you guessed it — nearby Lake Alfred, which was itself named after railroad developer Alfred Parslow.
In 1917, the University of Florida’s first off-campus center came to Lake Alfred: a citrus research center called the Citrus Experiment Station. The center still exists to this day in the form of the UF/IFAS Citrus Research and Education Center. Speaking of the present day, let’s look at some of Lake Alfred’s current stats and features.
It’s safe to say that Lake Alfred is a nature lover’s boon. Residents love the gently rolling terrain and numerous lakes that grace the town’s 8 square miles. They also love the area’s borderline tropical climate and sunny year-round weather!
Lake Alfred’s economy isn’t as bustling as what’s seen in some surrounding areas. Median household income comes in at $36,800, while per capita income is just $18,000. On the bright side, this means area houses have remained affordable. The median home lists for just under $300,000 — a rarity for this part of Central Florida.
Lake Alfred Real Estate Investments Made Simple
Lake Alfred’s trifecta of pristine weather, proximity to bigger areas, and affordable living make it a boon to real estate investors. There are a few things you should know before making a big investment, however:
- Area property tax laws
- Lakefront/oceanfront property laws
- Deed restrictions/HOA rules and regulations
- How much homeowner insurance is needed
- Your current financing options
- Unforeseen closing costs
- Your seller’s motivation
- Your property’s history
We’ll be the first to admit that there are a lot of moving parts involved in any worthwhile real estate investment. Don’t be intimidated, though — at Team Icon we have decades of experience helping buyers from all backgrounds reach their investment goals. This experience allows us to simplify and streamline every part of your buying experience. Contact us today if you’re interested in adding a piece of Lake Alfred to your real estate portfolio.