Renovated Duplex with Flex
For Sale
$407,000
11987 MAPLE Street, Dunnellon, FL 34432
Residential Income, DUNNELLON, FL
Property Size2,312 SF
Lot Size0.18 Acres
Price / SF$176.04
Days on Market251
Property Features for 11987 MAPLE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
B3
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Laundry Room, Bathroom 1, Bathroom 2, Dining Room, Bedroom 3, Bedroom 1
Parking features
Driveway
Window features
Double Pane Windows, Blinds, ENERGY STAR Qualified WIndows
Patio and Porch features
Porch
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Thermostat, Window Treatments
Exterior features
Lighting, Rain Gutters, Sidewalk
Appliances
Dryer, Range, Refrigerator, Washer
Subdivision
MINNETRISTA
Lot features
Corner Lot, City Limits, Landscaped, Level, Sidewalk, Paved
Elementary school
Dunnellon Elementary School
Middle school
Dunnellon Middle School
High school
Dunnellon High School
Directions
From Downtown Dunnellon: Take US-41 S/Cedar St. Turn left onto CR-484 (Pennsylvania Ave). Continue west on CR-484,then turn right onto Maple Street. Property will be on the left at 11987 Maple Street.
Standard status
Active
APN
3381-015-001
Size
2,312 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SEC 35 TWP 16 RGE 18 PLAT BOOK D PAGE 037 MINNETRISTA BLK 15 LOT 1
Tax Annual Amount
4699
Legal Description
SEC 35 TWP 16 RGE 18 PLAT BOOK D PAGE 037 MINNETRISTA BLK 15 LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Terrazzo
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
LA ROSA REALTY LLC
(321) 939-3748
Listed By:
Leticia Cruz, PA · License #3135661
(561) 512-7758
Added: Jan 3
Changed: Sep 9
Last Checked: Sep 11 at 12:06PM
MLS# S5140954
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,312-square-foot duplex contains two separate units, each with two bedrooms and one bathroom. Renovations completed in 2024 include double-pane windows, interior and exterior paint, aluminum gutters, updated kitchens and bathrooms with granite countertops, and major mechanical and electrical work in Unit #2. A new shingle roof was installed in December 2023. Additional features include central heating and cooling, vinyl and terrazzo flooring, in-unit laundry appliances, public water and sewer, and driveway parking on a landscaped 0.18-acre lot.
One unit is operating as an Airbnb, while the second may support longer-term occupancy or multi-generational use. The property also includes an unfinished center area that can be adapted for storage, flex space, or a third unit. It is located minutes from historic downtown Dunnellon and the Rainbow River, with Ocala less than 30 minutes away. The property is zoned B3.
One unit is operating as an Airbnb, while the second may support longer-term occupancy or multi-generational use. The property also includes an unfinished center area that can be adapted for storage, flex space, or a third unit. It is located minutes from historic downtown Dunnellon and the Rainbow River, with Ocala less than 30 minutes away. The property is zoned B3.
Key Highlights
- 2,312‑square‑foot duplex with two 2‑bedroom, 1‑bathroom units
- 2024 renovations included windows, paint, gutters, kitchens, bathrooms, HVAC, ductwork, and electrical work
- New shingle roof installed December 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,106
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,120
$422.1K
Cap Rate 7%
$301,514
$301.5K
Cap Rate 9%
$234,511
$234.5K
Market Conditions
NOI Build-Up for 2,312 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.9K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.2K $13.04/SF
− OpEx
−$9.0K −$3.91/SF
NOI
$21.1K $9.13/SF
Area
Citrus County, FL
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$422,120
Cap Rate 7%
$301,514
Cap Rate 9%
$234,511
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.8K – $351.8K
NOI $21,106 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$276.6K
$242.1K – $322.7K
NOI $19,364 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$519.5K
$454.6K – $606.1K
NOI $36,365 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 34432, FL
13,159
Population
6,899
Households
1.9
Avg Household Size
58
Median Age
20%
College-Educated
90%
High-School Grad
105.1 sq mi
ZIP Area
125
Density / Sq Mi
$47,711
Median Household Income
$30,240
Median Earnings
$1,077
Median Rent
$223,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two two-bedroom units feature updated kitchens and bathrooms, with one currently operating as an Airbnb.
Where is this duplex located?
The property is located at 11987 MAPLE Street Dunnellon, FL.
What is the asking price?
The asking price for this property is $407,000.
What are key features of this property?
This property features: 2,312‑square‑foot duplex with two 2‑bedroom, 1‑bathroom units; 2024 renovations included windows, paint, gutters, kitchens, bathrooms, HVAC, ductwork, and electrical work; New shingle roof installed December 2023
