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    301 E Atwater Ave Eustis, FL 32726

    Sponsored
    For Sale
    $450,000

    Triplex - EUSTIS, FL

    Type:Triplex
    Property size:
    2,341 SF
    Lot size:
    0.23 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 20 at 7:06 am

    Property Features for 301 E Atwater Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Standard status
    Active
    Zoning
    SR
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    APN
    11-19-26-0100-144-00311
    Interior features
    Ceiling Fans(s), Solid Surface Counters, Thermostat
    Exterior features
    Fence, Private Yard, Sidewalk, Storage
    Fencing
    Fenced
    Size
    2,341 SF
    Lot size
    0.23 Acres

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1949
    Number of units
    3
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Braden Verkaik

    Narrow Road Realty LLC (352) 589-8100

    Listing agent Braden Verkaik (352) 589-8100 License #3601219

    Listing date Feb 19, 2026

    MLS# G5108348 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    EUSTIS Triplex Investment Opportunity

    Located in the heart of Eustis, this property at 301 E Atwater Avenue presents an investment opportunity. It features a single-family home with three bedrooms and one bathroom, along with an adjacent duplex at 1305 S Dewey St, all included on one tax parcel. The property is situated minutes from downtown Eustis. The single-family home has been renovated and includes a bright, open layout, a laundry room with hookups, new interior and exterior paint, new flooring, and granite counters. The duplex offers two units, each with one bedroom and one bathroom, along with a shared laundry space and a covered rear porch. The upstairs apartment has been fully renovated with new paint, floors, kitchen cabinets, granite counters, and fixtures. The downstairs apartment is currently occupied under a lease. Situated on a fenced lot, the property is conveniently located near schools, parks, shopping, public transit, and US-441 in a growing area of Lake County. New roofs on both buildings are planned for completion in May 2025. This multi-family property offers potential for reliable cash flow and long-term appreciation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Anthony's Pro Lawn ... Landscaping

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eustis
    County
    Lake
    State
    Florida
    Longitude
    -81.682347
    Latitude
    28.84042

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    FAQs

    What type of property is this?
    Triplex - Income-producing triplex near downtown Eustis with strong rental potential.
    Where is this triplex located?
    The property is located at 301 E Atwater Ave Eustis, FL.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Income-producing property featuring a single-family home (3/1) and a duplex (2/2) on one tax parcel.; - New roofs on both buildings (completed May 2025).; - Renovated units: **The single-family home and one duplex unit boast new paint, flooring, and granite counters.**
    (352) 931-4117
    Request Owner's contact information
    301 E Atwater Ave Eustis, FL 32726
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    Eustis, FL 32726
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    301 E Atwater Ave Eustis, FL 32726
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    We can help!
    Listing Contact
    Braden Verkaik
    Real Estate License ID: 3601219
    (352) 931-4117 (352) 589-8100
    Learn more
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