Renovated Two-Unit
For Sale
$600,000
1012 N Baker St, Mount Dora, FL 32757
Two one-bedroom, one-bath units feature modern finishes, a pool area, storage, and covered parking.
Property Size1,778 SF
Price / SF$337.46
Days on Market78
Property Features for 1012 N Baker St
General Information
Standard status
Active
Size
1,778 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,579
Amenities
pool
storage
Building Details
Buildings
1
Listing Agency:
ERA GRIZZARD REAL ESTATE
(352) 357-2400
Listed By:
Loretta C. Maimone · License #3118600
(352) 357-2400
Source:
Exprealty
Added: Jun 4
Changed: Aug 16
Last Checked: Aug 19 at 2:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA GRIZZARD REAL ESTATE
Investment Insights
Based on property information with market context.
This renovated duplex contains two one-bedroom, one-bath residences within 1,778 square feet. Each unit has updated interiors and modern finishes, creating a cohesive configuration for residential leasing or owner occupancy. Exterior amenities include a pool area, additional storage, and covered carports positioned on both sides of the building.
Located at 1012 N Baker St in Mount Dora, the property is minutes from the downtown district, with access to boutique shopping, waterfront dining, art festivals, restaurants, entertainment, lakes, and parks. The two-unit layout and on-site features provide a practical residential income property in a downtown-oriented setting.
Located at 1012 N Baker St in Mount Dora, the property is minutes from the downtown district, with access to boutique shopping, waterfront dining, art festivals, restaurants, entertainment, lakes, and parks. The two-unit layout and on-site features provide a practical residential income property in a downtown-oriented setting.
Key Highlights
- Two updated 1‑bedroom, 1‑bath units
- 1,778 square feet in total property size
- Renovated interiors with modern finishes
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
$23,714
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
3.95%
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%
$474,280
$474.3K
Cap Rate 7%
$338,771
$338.8K
Cap Rate 9%
$263,489
$263.5K
Market Conditions
NOI Build-Up for 1,778 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
$36.3K $20.40/SF
− Vacancy
−$2.4K −$1.35/SF
EGI
$33.9K $19.05/SF
− OpEx
−$10.2K −$5.72/SF
NOI
$23.7K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$474,280
Cap Rate 7%
$338,771
Cap Rate 9%
$263,489
Alternative Uses
Best Use
Multifamily LT 5
$338.8K
$296.4K – $395.2K
NOI $23,714 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$311.9K
$272.9K – $363.9K
NOI $21,834 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$506.0K
$442.7K – $590.3K
NOI $35,418 @ 7.0% cap · market cap 5.90%
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
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 32757, FL
30,315
Population
14,625
Households
2.1
Avg Household Size
49
Median Age
36%
College-Educated
92%
High-School Grad
35.3 sq mi
ZIP Area
859
Density / Sq Mi
$73,327
Median Household Income
$40,565
Median Earnings
$1,474
Median Rent
$325,800
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 one-bedroom, one-bath units feature modern finishes, a pool area, storage, and covered parking.
Where is this duplex located?
The property is located at 1012 N Baker St Mount Dora, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two updated 1‑bedroom, 1‑bath units; 1,778 square feet in total property size; Renovated interiors with modern finishes
