Quadplex With Renovated
For Sale
$575,900
2950 SE 53RD Court, Ocala, FL 34480
Residential Income, OCALA, FL
Property Size3,417 SF
Lot Size0.25 Acres
Price / SF$168.54
Days on Market164
Property Features for 2950 SE 53RD Court
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R3
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bedroom 4, Bedroom 6, Bathroom 2, Bathroom 5, Bathroom 8, Bathroom 3, Bathroom 6, Bathroom 1, Bathroom 4, Bedroom 2, Bedroom 8, Bathroom 7, Bedroom 3, Bedroom 7, Bedroom 5
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen
Exterior features
Fence, Private Entrance
Fencing
Fenced
Subdivision
GREENFIELDS 01
Directions
Take Exit 341 ? State Road 484 (SR-484). Head east on SR-484. Turn left onto SE Baseline Rd (County Rd 35). Continue north for about 2-3 miles. Turn left onto SE 28th St. Turn right onto SE 55th Ave. Turn left onto SE 28th Ln. Arrive at the property (on your right).
Standard status
Active
APN
29698-001-12
Size
3,417 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 25 TWP 15 RGE 22 PLAT BOOK W PAGE 029 GREENFIELDS UNIT 1 BLK A LOT 12
Tax Annual Amount
7047
Legal Description
SEC 25 TWP 15 RGE 22 PLAT BOOK W PAGE 029 GREENFIELDS UNIT 1 BLK A LOT 12
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Tina White · License #3435934
(956) 337-7160
Added: Apr 15
Changed: Sep 25
Last Checked: Sep 25 at 9:06AM
MLS# TB8498918
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 1984 quadplex contains four 2-bedroom, 2-bathroom units within 3,417 square feet on a 0.25-acre parcel. Three apartments are leased and one is vacant. Two units feature vinyl flooring along with updated kitchens and bathrooms, while the remaining apartments have tile flooring. Each unit includes a private entrance, front porch, central air conditioning, and a functional layout. The property also has a shingle roof installed in 2025 and a driveway completed in December 2025.
Located in Ocala, Florida, the property is zoned R3 and includes a fenced exterior, public water, septic service, and weekly landscaping maintenance. Tenants pay their own water and electricity. Interior features include ceiling fans and eat-in kitchens, while block construction supports the building's established multifamily configuration.
Located in Ocala, Florida, the property is zoned R3 and includes a fenced exterior, public water, septic service, and weekly landscaping maintenance. Tenants pay their own water and electricity. Interior features include ceiling fans and eat-in kitchens, while block construction supports the building's established multifamily configuration.
Key Highlights
- Four 2‑bedroom, 2‑bathroom units in a quadplex
- 3,417 square feet on a 0.25‑acre lot
- Three units leased; one unit vacant
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
$49,659
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
8.62%
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%
$993,180
$993.2K
Cap Rate 7%
$709,414
$709.4K
Cap Rate 9%
$551,767
$551.8K
Market Conditions
NOI Build-Up for 3,417 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
$96.4K $28.20/SF
− Vacancy
−$6.1K −$1.78/SF
EGI
$90.3K $26.42/SF
− OpEx
−$40.6K −$11.89/SF
NOI
$49.7K $14.53/SF
Area
Marion County, FL
Vacancy
6.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
45.00%
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%
$993,180
Cap Rate 7%
$709,414
Cap Rate 9%
$551,767
Alternative Uses
Best Use
Apartment 5plus
$709.4K
$620.7K – $827.7K
NOI $49,659 @ 7.0% cap · market cap 8.62%
Second Best
Multifamily LT 5
$705.5K
$617.3K – $823.1K
NOI $49,385 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,616 @ 7.0% cap · market cap 22.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 34480, FL
21,709
Population
9,864
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
35.2 sq mi
ZIP Area
617
Density / Sq Mi
$75,334
Median Household Income
$40,953
Median Earnings
$1,238
Median Rent
$248,400
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?
Quadplex - Four-unit residential property with mixed unit updates, central air, private entrances, and one currently vacant unit.
Where is this quadplex located?
The property is located at 2950 SE 53RD Court Ocala, FL.
What is the asking price?
The asking price for this property is $575,900.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bathroom units in a quadplex; 3,417 square feet on a 0.25‑acre lot; Three units leased; one unit vacant
