Two-Unit Duplex with Conservation
For Sale
$235,000
9325 N Travis Drive, Citrus Springs, FL 34434
ResidentialIncome, Citrus Springs, FL
Property Size1,300 SF
Lot Size0.23 Acres
Price / SF$180.77
Days on Market36
Property Features for 9325 N Travis Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
PDR
Parking features
Driveway
Exterior features
PavedDriveway
Subdivision
Citrus Springs
Lot features
Trees
Directions
Take US-19 N or Suncoast Parkway (FL-589 N) toward Crystal River Merge onto US-41 N toward Dunnellon Turn left onto Citrus Springs Blvd Turn right onto N Travis Dr Continue until you reach 9325 N Travis Dr (on your route)
Standard status
Active
APN
1222923
Size
1,300 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITRUS SPGS UNIT 1 PB 5 PG 89 LOT 3 BLK 72
Tax Annual Amount
2996
Legal Description
CITRUS SPGS UNIT 1 PB 5 PG 89 LOT 3 BLK 72
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
private entrances
washer/dryer hookups
Building Details
Year built
2007
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Frame, Stucco
Roof type
Shingle, Asphalt
Architectural style
Ranch
Listing Agency:
Dennis Realty & Investments
(813) 949-7444
Listed By:
Carl Stratton · License #657962
(813) 310-7402
Added: Jul 31
Changed: Aug 20
Last Checked: Sep 4 at 12:06AM
MLS# 856759
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.
Built in 2007, this 1,300-square-foot duplex contains two one-bedroom, one-bath residences of approximately 650 square feet each. Both units have private entrances, separate utilities, washer and dryer hookups, vinyl flooring, central air conditioning, and electric central heat. One residence has granite countertops and luxury plank flooring, while the other received vinyl plank flooring in 2025. The exterior was painted in 2026.
The property sits on a 0.23-acre lot at 9325 N Travis Drive in Citrus Springs, Florida, with a paved driveway and a setting that backs to conservation land. Public water and septic service support the property, which is zoned PDR. Both units are occupied, and the landlord handles yard maintenance while residents pay their own utilities.
The property sits on a 0.23-acre lot at 9325 N Travis Drive in Citrus Springs, Florida, with a paved driveway and a setting that backs to conservation land. Public water and septic service support the property, which is zoned PDR. Both units are occupied, and the landlord handles yard maintenance while residents pay their own utilities.
Key Highlights
- Two‑unit duplex totaling 1,300 square feet; each residence has 1 bedroom, 1 bathroom, and approximately 650 square feet
- Built in 2007 on a 0.23‑acre lot with conservation land behind the property
- Both units offer private entrances, separate utilities, and washer and dryer hookups
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
$11,867
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
5.05%
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%
$237,340
$237.3K
Cap Rate 7%
$169,529
$169.5K
Cap Rate 9%
$131,856
$131.9K
Market Conditions
NOI Build-Up for 1,300 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
$17.9K $13.80/SF
− Vacancy
−$987 −$0.76/SF
EGI
$17.0K $13.04/SF
− OpEx
−$5.1K −$3.91/SF
NOI
$11.9K $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%
$237,340
Cap Rate 7%
$169,529
Cap Rate 9%
$131,856
Alternative Uses
Best Use
Multifamily LT 5
$169.5K
$148.3K – $197.8K
NOI $11,867 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$155.5K
$136.1K – $181.5K
NOI $10,888 @ 7.0% cap · market cap 4.63%
Theoretical Best
Specialty Retail
$292.1K
$255.6K – $340.8K
NOI $20,448 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 34434, FL
9,582
Population
4,559
Households
2.1
Avg Household Size
47
Median Age
17%
College-Educated
90%
High-School Grad
26.3 sq mi
ZIP Area
364
Density / Sq Mi
$56,553
Median Household Income
$35,245
Median Earnings
$1,226
Median Rent
$211,500
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?
Duplex - PDR-zoned, fully occupied duplex with separate utilities, private entries, and a paved driveway.
Where is this duplex located?
The property is located at 9325 N Travis Drive Citrus Springs, FL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,300 square feet; each residence has 1 bedroom, 1 bathroom, and approximately 650 square feet; Built in 2007 on a 0.23‑acre lot with conservation land behind the property; Both units offer private entrances, separate utilities, and washer and dryer hookups
