Remodeled Duplex with Vaulted
For Sale
$379,900
11248 PENDLETON AVE #A&B, Englewood, FL 34224
Two-bedroom units offer private laundry rooms and upgraded kitchens with granite countertops.
Property Size1,724 SF
Days on Market428
Property Features for 11248 PENDLETON AVE #A&B
General Information
Standard status
Active
Size
1,724 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,457
Building Details
Building Size
1,724 SF
Year Built
1984
Listing Agency:
COPPOLA REALTY GROUP
(941) 468-0334
Listed By:
Iris Pisko · License #3108363
Source:
Nixandassociates
Added: Jun 6, 2025
Changed: Aug 5
Last Checked: Aug 7 at 1:33AM
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 COPPOLA REALTY GROUP
Investment Insights
Based on property information with market context.
This duplex, built in 1984, includes two separate two-bedroom, one-bath residences with vaulted ceilings and private laundry rooms equipped with washers and dryers. Interior updates include vinyl plank flooring, wood cabinetry, granite kitchen countertops, upgraded lighting, electrical outlets, and ceiling fans. The property also has impact-rated front windows, new air-conditioning ducts, landscaping, and a six-foot privacy fence with a divider. A new roof was installed in 2022.
Unit A is furnished for Airbnb use, while Unit B is occupied by a tenant. The property is located in Englewood near beaches, restaurants, golf, shopping, schools, and medical facilities. The listing also notes that the duplex sustained no damage or flooding during recent hurricanes.
Unit A is furnished for Airbnb use, while Unit B is occupied by a tenant. The property is located in Englewood near beaches, restaurants, golf, shopping, schools, and medical facilities. The listing also notes that the duplex sustained no damage or flooding during recent hurricanes.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units with vaulted ceilings
- New roof installed in 2022
- Unit A furnished for Airbnb use; Unit B has a tenant
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
$16,677
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
4.39%
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%
$333,540
$333.5K
Cap Rate 7%
$238,243
$238.2K
Cap Rate 9%
$185,300
$185.3K
Market Conditions
NOI Build-Up for 1,724 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
$29.4K $17.04/SF
− Vacancy
−$5.6K −$3.22/SF
EGI
$23.8K $13.82/SF
− OpEx
−$7.1K −$4.15/SF
NOI
$16.7K $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%
$333,540
Cap Rate 7%
$238,243
Cap Rate 9%
$185,300
Alternative Uses
Best Use
Multifamily LT 5
$238.2K
$208.5K – $278.0K
NOI $16,677 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$217.4K
$190.3K – $253.7K
NOI $15,221 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$564.5K
$493.9K – $658.6K
NOI $39,514 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
111
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
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-bedroom units offer private laundry rooms and upgraded kitchens with granite countertops.
Where is this duplex located?
The property is located at 11248 PENDLETON AVE #A&B Englewood, FL.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bath units with vaulted ceilings; New roof installed in 2022; Unit A furnished for Airbnb use; Unit B has a tenant
