Waterfront Duplex with
New
For Sale
$289,500
9565 W Pimpernel Lane, Crystal River, FL 34429
Residential, Crystal River, FL
Property Size1,664 SF
Lot Size0.58 Acres
Price / SF$173.98
Days on Market2
Property Features for 9565 W Pimpernel Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
CLR
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Dining Room, Bedroom 3, Bedroom 2, Laundry Room, Bathroom 1, Bedroom 1, Bathroom 2
Parking
2
Parking features
Parking Lot, Carport, Driveway
Window features
Blinds
Interior features
BreakfastBar, EatInKitchen, LaminateCounters, MainLevelPrimary, MultiplePrimarySuites, ShowerOnly, SeparateShower, WindowTreatments, FirstFloorEntry, ProgrammableThermostat
Exterior features
CircularDriveway, ConcreteDriveway
Appliances
Dryer, Dishwasher, ElectricOven, ElectricRange, Disposal, Microwave, Refrigerator, WaterHeater, Washer
Subdivision
Hourglass Lake
Lot features
Cleared, Irregular Lot, Pond On Lot
Elementary school
Crystal River Primary
Middle school
Crystal River Middle
High school
Crystal River High
Directions
From Homosassa, 19N, Left on Fort Island Trail to Left on N Greenleaf Forest Rd to Right on N Hourglass Terrace to property on the Left at the corner of Pimpernel Lane. Last house on the Left.
Standard status
Active
APN
1099251
Size
1,664 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HOURGLASS LAKE REPLAT PB 7 PG 114 LOT 10 BLK C
Tax Annual Amount
1309
Legal Description
HOURGLASS LAKE REPLAT PB 7 PG 114 LOT 10 BLK C
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Zoned
Cooling system
Zoned, Central Air
Water source
Public
Water front features
Waterfront, Lake Front
Water front
1
Amenities
pool
sunroom
lanai
shared laundry room
Building Details
Year built
1973
Floors in Building
1
Flooring type
Tile
Building materials
Stucco
Roof type
Metal
Architectural style
Other
Listing Agency:
Century 21 Alliance Realty
(352) 686-0000
Listed By:
Paula Frenette · License #3244575
(352) 279-9458
Added: Aug 28
Last Checked: Aug 29 at 5:06AM
MLS# 857367
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 waterfront duplex contains 1,664 square feet within two distinct living areas. One unit has 2 bedrooms and 1 bathroom, while the second provides 1 bedroom and 1 bathroom. Both include full kitchens, with separate electric panels, individual electric meters, and separate thermostats. A shared laundry room, sunroom, lanai, and in-ground pool add to the property’s functional layout. Recent updates include a brand-new metal roof, newer tile flooring, a newer water heater, and a resurfaced pool with a newer pump.
Set on 0.58 acres along Hourglass Lake in Crystal River, the property includes a circular concrete driveway, carport, public water, and public sewer. The duplex is zoned CLR, has no HOA, and is located at 9565 W Pimpernel Lane.
Set on 0.58 acres along Hourglass Lake in Crystal River, the property includes a circular concrete driveway, carport, public water, and public sewer. The duplex is zoned CLR, has no HOA, and is located at 9565 W Pimpernel Lane.
Key Highlights
- Waterfront duplex on 0.58 acres along Hourglass Lake
- 1,664‑square‑foot property with two separate living areas
- Unit mix includes 2 bedrooms and 1 bathroom plus 1 bedroom and 1 bathroom
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
$15,190
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
5.25%
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%
$303,800
$303.8K
Cap Rate 7%
$217,000
$217.0K
Cap Rate 9%
$168,778
$168.8K
Market Conditions
NOI Build-Up for 1,664 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
$23.0K $13.80/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$21.7K $13.04/SF
− OpEx
−$6.5K −$3.91/SF
NOI
$15.2K $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%
$303,800
Cap Rate 7%
$217,000
Cap Rate 9%
$168,778
Alternative Uses
Best Use
Multifamily LT 5
$217.0K
$189.9K – $253.2K
NOI $15,190 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$199.1K
$174.2K – $232.3K
NOI $13,937 @ 7.0% cap · market cap 4.81%
Theoretical Best
Specialty Retail
$373.9K
$327.2K – $436.2K
NOI $26,173 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 34429, FL
8,837
Population
5,458
Households
1.6
Avg Household Size
60
Median Age
25%
College-Educated
90%
High-School Grad
41.4 sq mi
ZIP Area
213
Density / Sq Mi
$57,716
Median Household Income
$36,577
Median Earnings
$1,070
Median Rent
$220,300
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 - Two living areas include full kitchens, private bedroom suites, and access to a shared laundry room.
Where is this duplex located?
The property is located at 9565 W Pimpernel Lane Crystal River, FL.
What is the asking price?
The asking price for this property is $289,500.
What are key features of this property?
This property features: Waterfront duplex on 0.58 acres along Hourglass Lake; 1,664‑square‑foot property with two separate living areas; Unit mix includes 2 bedrooms and 1 bathroom plus 1 bedroom and 1 bathroom
