Pool Triplex with
For Sale
$425,000
1611 INDIAN Trail, Leesburg, FL 34748
Residential Income, LEESBURG, FL
Property Size1,454 SF
Lot Size0.32 Acres
Price / SF$292.30
Days on Market263
Property Features for 1611 INDIAN Trail
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
SFR
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Patio and Porch features
Deck
Pool private
1
Interior features
Primary Bedroom Main Floor
Exterior features
Lighting
Subdivision
INDIAN HILL
Directions
From Clermont heading northbound on US 27, turn right on Indian Trail. The property is on the right
Standard status
Active
APN
15-19-24-0100-007-00100
Size
1,454 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
INDIAN HILL LOTS 1 2 BLK 7 PB 8 PG 28 ORB 6294 PG 556
Tax Annual Amount
1924
Legal Description
INDIAN HILL LOTS 1 2 BLK 7 PB 8 PG 28 ORB 6294 PG 556
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Well
Amenities
pool
Building Details
Year built
1945
Number of units
3
Building materials
Metal Frame
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ELITE PARTNERS III REALTY · Keller Williams Realty
(321) 527-5111
Listed By:
Tania Matthews · License #3232332
(407) 497-9660
Added: Dec 9, 2025
Changed: Aug 28
Last Checked: Aug 29 at 8:06PM
MLS# G5105201
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 1,454-square-foot triplex sits on a 0.32-acre parcel and is being offered with tenants in place. The property contains three separate income-producing spaces, including a pool home, and has received partial interior updates. A private pool, deck, central heating and cooling, electric heat, shingle roofing, and metal-frame construction are among the documented improvements. The home was built in 1945 and is served by a well and septic tank. SFR zoning applies.
The property is located at 1611 Indian Trail in Leesburg, near Downtown Leesburg, Lake Harris, Venetian Gardens, UF Health Leesburg Hospital, Highway 27, and local retail and employment centers. Utility, lawn, pool, and internet services are incorporated into the current operating structure, while renewals or non-renewals require 30 days' notice.
The property is located at 1611 Indian Trail in Leesburg, near Downtown Leesburg, Lake Harris, Venetian Gardens, UF Health Leesburg Hospital, Highway 27, and local retail and employment centers. Utility, lawn, pool, and internet services are incorporated into the current operating structure, while renewals or non-renewals require 30 days' notice.
Key Highlights
- Three separate income‑producing spaces with tenants in place
- 1,454 square feet on 0.32 acres
- Private pool with deck
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
$19,393
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
4.56%
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%
$387,860
$387.9K
Cap Rate 7%
$277,043
$277.0K
Cap Rate 9%
$215,478
$215.5K
Market Conditions
NOI Build-Up for 1,454 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
$29.7K $20.40/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$27.7K $19.05/SF
− OpEx
−$8.3K −$5.72/SF
NOI
$19.4K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$387,860
Cap Rate 7%
$277,043
Cap Rate 9%
$215,478
Alternative Uses
Best Use
Multifamily LT 5
$277.0K
$242.4K – $323.2K
NOI $19,393 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$255.1K
$223.2K – $297.6K
NOI $17,856 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$413.8K
$362.1K – $482.7K
NOI $28,964 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 34748, FL
45,481
Population
25,740
Households
1.8
Avg Household Size
60
Median Age
24%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$53,768
Median Household Income
$30,762
Median Earnings
$1,181
Median Rent
$226,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully rented three-space property with a private pool, central air, and established operating services.
Where is this triplex located?
The property is located at 1611 INDIAN Trail Leesburg, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three separate income‑producing spaces with tenants in place; 1,454 square feet on 0.32 acres; Private pool with deck
