Under contract-accepting backup offers. Lake Starr Property with Multiple Dwellings & Endless Possibilities! Discover a rare opportunity to own 3.39 acres of lakefront living on the shores of Lake Starr. This unique property features a 3 bedroom, 2 bath home offering stunning lake views and even a view of Bok Tower! The spacious open living and dining area are great for entertaining. You’ll also enjoy a split bedroom layout, and charming pine hardwood floors. Recent upgrades include updated windows and doors, rewired electric, Hardie board siding, and additional insulation. New roof (2024) and new pump for well (2025) In addition to the main home, the property includes a versatile guest dwelling with multiple rental options: a fully furnished studio apartment upstairs, a 2 bedroom/1 bath apartment downstairs, plus a shared recreation room complete with a sitting area, ping pong, pool table, sauna, full bath, and an open patio overlooking the lake and tennis court. For your cars, boat, camper or toys there’s a 24’ x 40’ three-bay detached garage/workshop with plenty of storage. This property is ideal for a family compound, multigenerational living, or as an income-producing investment property. Conveniently located near shopping, dining, and medical facilities, it combines privacy with accessibility. Close to Legoland and Winter Haven. Don’t miss this one-of-a-kind lakefront opportunity!
Pending
Price cut: $38K (10/23)
$649,000
724 Masterpiece Rd, Lake Wales, FL 33898
3beds
1,461sqft
Est.:
Single Family Residence
Built in 1949
3.39 Acres Lot
$-- Zestimate®
$444/sqft
$-- HOA
What's special
Lakefront livingTennis courtFully furnished studio apartmentStunning lake viewsView of bok towerPing pongShared recreation room
- 125 days |
- 150 |
- 2 |
Zillow last checked: 8 hours ago
Listing updated: December 10, 2025 at 02:04pm
Listing Provided by:
Julie Seay 863-287-1093,
COLDWELL BANKER REALTY 863-294-7541
Source: Stellar MLS,MLS#: P4936209
Originating MLS: East Polk
Originating MLS: East Polk
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Rooms
- Room types: Utility Room
Primary bedroom
- Features: En Suite Bathroom, Shower No Tub, Dual Closets
- Level: First
- Area: 210 Square Feet
- Dimensions: 15x14
Bedroom 2
- Features: Built-in Closet
- Level: First
- Area: 156 Square Feet
- Dimensions: 12x13
Bedroom 3
- Features: Built-in Closet
- Level: First
- Area: 196 Square Feet
- Dimensions: 14x14
Dining room
- Level: First
- Area: 153 Square Feet
- Dimensions: 17x9
Kitchen
- Level: First
- Area: 103.5 Square Feet
- Dimensions: 11.5x9
Living room
- Level: First
- Area: 255 Square Feet
- Dimensions: 17x15
Heating
- Central, Electric
Cooling
- Central Air
Appliances
- Included: Dryer, Electric Water Heater, Range, Range Hood, Refrigerator, Washer
- Laundry: Inside, Laundry Room
Features
- Open Floorplan, Primary Bedroom Main Floor
- Flooring: Carpet, Ceramic Tile, Vinyl, Hardwood
- Has fireplace: No
Interior area
- Total structure area: 1,461
- Total interior livable area: 1,461 sqft
Video & virtual tour
Property
Parking
- Total spaces: 3
- Parking features: Garage Faces Side, Parking Pad
- Garage spaces: 3
- Has uncovered spaces: Yes
- Details: Garage Dimensions: 24x40
Features
- Levels: One
- Stories: 1
- Patio & porch: Deck, Patio
- Exterior features: Tennis Court(s)
- Has view: Yes
- View description: Water, Lake
- Has water view: Yes
- Water view: Water,Lake
- Waterfront features: Lake Front, Skiing Allowed
- Body of water: LAKE STARR
Lot
- Size: 3.39 Acres
- Dimensions: 180 x 471
- Features: Cleared, In County
- Residential vegetation: Mature Landscaping
Details
- Additional structures: Guest House, Shed(s), Tennis Court(s)
- Parcel number: 272914860610001050
- Special conditions: None
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- HardiPlank Type, Wood Frame (FSC Certified)
- Foundation: Crawlspace
- Roof: Shingle
Condition
- New construction: No
- Year built: 1949
Utilities & green energy
- Sewer: Septic Tank
- Water: Well
- Utilities for property: BB/HS Internet Available, Electricity Connected, Water Connected
Community & HOA
Community
- Subdivision: CRAIG W J RESUB
HOA
- Has HOA: No
- Pet fee: $0 monthly
Location
- Region: Lake Wales
Financial & listing details
- Price per square foot: $444/sqft
- Tax assessed value: $506,450
- Annual tax amount: $4,237
- Date on market: 9/15/2025
- Cumulative days on market: 126 days
- Listing terms: Cash,Conventional
- Ownership: Fee Simple
- Total actual rent: 0
- Electric utility on property: Yes
- Road surface type: Paved
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 12/10/2025 | Pending sale | $649,000$444/sqft |
Source:  Stellar MLS #P4936209 Report a problem | ||
| 10/23/2025 | Price change | $649,000-5.5%$444/sqft |
Source: Stellar MLS #P4936209 Report a problem | ||
| 9/15/2025 | Listed for sale | $687,000+587%$470/sqft |
Source: Stellar MLS #P4936209 Report a problem | ||
| 5/30/1997 | Sold | $100,000$68/sqft |
Source: Public Record Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,986 +3.3% | $260,145 +6.8% |
| 2023 | $2,890 +7.9% | $243,673 +6.6% |
| 2022 | $2,678 +21.6% | $228,490 +15.1% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$4,165/mo
Principal & interest
$3105
Property taxes
$833
Home insurance
$227
Climate risks
Neighborhood: 33898
Nearby schools
GreatSchools rating
- 2/10Spook Hill Elementary SchoolGrades: PK-5Distance: 3.5 mi
- 1/10Mclaughlin Middle School And Fine Arts AcademyGrades: 6-10Distance: 5 mi
- 3/10Winter Haven Senior High SchoolGrades: 9-12Distance: 9 mi
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