Lecanto Duplex: Turnkey Investment
2129 N Pine Cone Avenue Lecanto, FL 34461
For Sale
$585,000
MULTI_FAMILY - Other - Lecanto, FL
Property Size2,140 SF
Lot Size0.21 Acres
Price / SF$273.36
Days on Market187
Property Features for 2129 N Pine Cone Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- MDR
- Parking features
- Driveway
- Security features
- Security
- Interior features
- FrenchDoorsAtriumDoors, SlidingGlassDoors
- Exterior features
- ConcreteDriveway
- Appliances
- Dryer, Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, Disposal, Refrigerator
- Standard status
- Active
- APN
- 2422947
- Size
- 2,140 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- FLYING DUTCHMAN ESTS PHASE I PB 12 PG 118 LOT 1 BLK 1
- Tax Annual Amount
- 3507
Utilities
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2007
- Number of units
- 2
- Flooring type
- Tile, Carpet
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Christine Steele · License #3639173
(402) 208-9454
Added: Jan 20
Changed: Jul 18
Last Checked: Jul 26 at 9:06AM
MLS# 851506
Copyright © 2026 REALTORS Association of Citrus County, Inc. 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 duplex in Lecanto, Florida, presents an investment opportunity near the expanding Black Diamond shopping and dining corridor. The property has no HOA, no rental restrictions, and is not in a flood zone. A new roof and new water heaters were installed in 2024. Each unit includes 2 bedrooms and 2 bathrooms, a living room, dining area, kitchen, dedicated laundry room, front and rear patios, and an attached garage, with privacy fencing. The reported 2025 income for Unit 1 is $35,500. Unit 2 is currently leased at $1700 per month through May 2027. The property is conveniently located near Shoppes at Black Diamond, Black Diamond Ranch, and the Suncoast Parkway. The lot size is 0.21 acres, and the property size is 2140 square feet. The zoning is MDR. Potential exists for a gross annual income of $70,000+ when both units are used for short term rentals. Rental demand in this area remains strong, making this property a solid addition to an investment portfolio.
Key Highlights
- Duplex built in 2007 with 2BR/2BA units featuring living room, dining area, kitchen, and dedicated laundry room
- New roof in 2024 plus new water heaters in 2024
- Each unit includes front and rear patios, privacy fencing, and an attached garage
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.5k | $13.80 |
| − Vacancy | −$1.6k | −$0.76 |
| EGI | $27.9k | $13.04 |
| − OpEx | −$8.4k | −$3.91 |
| NOI | $19.5k | $9.13 |
2,140 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$279.1K
$244.2K – $325.6K
NOI $19,535 @ 7.0% cap · market cap 3.34%
Second Best
Apartment 5plus
$256.0K
$224.0K – $298.7K
NOI $17,923 @ 7.0% cap · market cap 3.06%
Theoretical Best
Specialty Retail
$480.9K
$420.8K – $561.0K
NOI $33,660 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Turnkey duplex in Lecanto, Florida, near Black Diamond corridor.
Where is this duplex located?
The property is located at 2129 N Pine Cone Avenue Lecanto, FL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Duplex built in 2007 with 2BR/2BA units featuring living room, dining area, kitchen, and dedicated laundry room; New roof in 2024 plus new water heaters in 2024; Each unit includes front and rear patios, privacy fencing, and an attached garage
