Two-Unit Duplex with Ensuite
For Sale
$399,000
10386 and 10388 PENDLETON AVE, Englewood, FL 34224
One residence is leased and the other is vacant, giving the next owner flexibility to live in one unit or lease both.
Property Size2,088 SF
Days on Market9
Property Features for 10386 and 10388 PENDLETON AVE
General Information
Standard status
Active
Size
2,088 SF
Property subtype
Duplex
Occupancy
50%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,082
Building Details
Building Size
2,088 SF
Year Built
2024
Listing Agency:
GRANT TEAM REAL ESTATE, LLC
Listed By:
Christopher Grant · License #3238094
(941) 740-7053
Source:
Nixandassociates
Added: Sep 25
Changed: Sep 28
Last Checked: Oct 1 at 7:42PM
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 GRANT TEAM REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains two matching residences, each with two bedrooms and two bathrooms. Interiors include open living areas, luxury vinyl plank flooring, kitchens with granite countertops and stainless steel appliances, and primary suites with walk-in closets and private bathrooms featuring walk-in showers. Guest baths have shower-and-tub combinations.
One unit is tenant-occupied under a lease through February 28, 2027; the other is vacant. The property is located on Pendleton Avenue in Englewood, Florida.
One unit is tenant-occupied under a lease through February 28, 2027; the other is vacant. The property is located on Pendleton Avenue in Englewood, Florida.
Key Highlights
- Two residences, each with 2 bedrooms and 2 bathrooms
- Built in 2024
- One unit is tenant‑occupied through February 28, 2027; the second unit is 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
$20,198
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
5.06%
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%
$403,960
$404.0K
Cap Rate 7%
$288,543
$288.5K
Cap Rate 9%
$224,422
$224.4K
Market Conditions
NOI Build-Up for 2,088 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
$35.6K $17.04/SF
− Vacancy
−$6.7K −$3.22/SF
EGI
$28.9K $13.82/SF
− OpEx
−$8.7K −$4.15/SF
NOI
$20.2K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$403,960
Cap Rate 7%
$288,543
Cap Rate 9%
$224,422
Alternative Uses
Best Use
Multifamily LT 5
$288.5K
$252.5K – $336.6K
NOI $20,198 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$263.3K
$230.4K – $307.2K
NOI $18,434 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$683.7K
$598.2K – $797.6K
NOI $47,857 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 34224, FL
16,379
Population
11,333
Households
1.4
Avg Household Size
63
Median Age
21%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
1,280
Density / Sq Mi
$56,862
Median Household Income
$34,450
Median Earnings
$1,219
Median Rent
$262,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - One residence is leased and the other is vacant, giving the next owner flexibility to live in one unit or lease both.
Where is this duplex located?
The property is located at 10386 and 10388 PENDLETON AVE Englewood, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 2 bathrooms; Built in 2024; One unit is tenant‑occupied through February 28, 2027; the second unit is vacant
