Duplex with Separate Laundry
New
For Sale
$225,000
1104 BIRCHWOOD COURT, Leesburg, FL 34748
The two sides have differing recent interior updates and tenant history.
Property Size1,540 SF
Price / SF$146.10
Days on Market7
Property Features for 1104 BIRCHWOOD COURT
General Information
Standard status
Active
Size
1,540 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
on-site laundry
covered porch
Building Details
Year Built
1984
Buildings
1
Listing Agency:
SUNSTAR REAL ESTATE
(352) 308-7514
Listed By:
Michael Abernathy · License #3138665
(352) 383-5955
Source:
Dennisrealty
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 9:53AM
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 SUNSTAR REAL ESTATE
Investment Insights
Based on property information with market context.
This 1,540-square-foot duplex was built in 1984 and contains two residential units. One side has recently received paint, blinds and appliances; the other has housed the same tenant for three years.
A separate laundry room sits behind the building, alongside a small covered rear porch.
A separate laundry room sits behind the building, alongside a small covered rear porch.
Key Highlights
- Two‑unit duplex totaling 1,540 square feet
- Built in 1984
- One side recently updated with paint, blinds and appliances
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
$20,540
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
9.13%
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%
$410,800
$410.8K
Cap Rate 7%
$293,429
$293.4K
Cap Rate 9%
$228,222
$228.2K
Market Conditions
NOI Build-Up for 1,540 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
$31.4K $20.40/SF
− Vacancy
−$2.1K −$1.35/SF
EGI
$29.3K $19.05/SF
− OpEx
−$8.8K −$5.72/SF
NOI
$20.5K $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%
$410,800
Cap Rate 7%
$293,429
Cap Rate 9%
$228,222
Alternative Uses
Best Use
Multifamily LT 5
$293.4K
$256.8K – $342.3K
NOI $20,540 @ 7.0% cap · market cap 9.13%
Second Best
Apartment 5plus
$270.2K
$236.4K – $315.2K
NOI $18,912 @ 7.0% cap · market cap 8.41%
Theoretical Best
Office A
$438.2K
$383.5K – $511.3K
NOI $30,677 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
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Business Placement
Demographics for 34748, FL
45,481
Population
25,740
Households
1.8
Avg Household Size
60
Median Age
24%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$53,768
Median Household Income
$30,762
Median Earnings
$1,181
Median Rent
$226,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - The two sides have differing recent interior updates and tenant history.
Where is this duplex located?
The property is located at 1104 BIRCHWOOD COURT Leesburg, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,540 square feet; Built in 1984; One side recently updated with paint, blinds and appliances
