Remodeled Duplex with Private
For Sale
$325,000
1135 NE 9TH AVENUE, Ocala, FL 34470
Updated two-residence property with private outdoor areas, washer and dryer connections, and no HOA.
Property Size1,488 SF
Lot Size0.28 Acres
Price / SF$218.41
Days on Market15
Property Features for 1135 NE 9TH AVENUE
General Information
Standard status
Active
Size
1,488 SF
Lot size
0.28 Acres
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
washer/dryer hookups
backyards
covered front patio
granite countertops
updated cabinetry
glass-tile backsplashes
stainless steel appliances
recessed lighting
tile flooring
updated bathrooms
Building Details
Year Built
1958
Tenancy
Single
Listing Agency:
OLYMPUS EXECUTIVE REALTY INC
(407) 469-0090
Listed By:
David Hijar · License #3488693
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 9
Changed: Sep 23
Last Checked: Sep 22 at 4:27PM
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 OLYMPUS EXECUTIVE REALTY INC
Investment Insights
Based on property information with market context.
This 1,488-square-foot duplex contains two residences, each offering 2 bedrooms, 1 bathroom, and 744 square feet. Interior improvements include granite countertops, refreshed cabinetry, glass-tile backsplashes, stainless steel appliances, recessed lighting, tile flooring, and renovated bathrooms. Dedicated washer and dryer connections serve both units, while each residence has its own backyard and covered front patio. The property sits on a .28-acre lot and includes public water and public sewer service.
Exterior and mechanical updates include a roof installed in 2023, new windows from 2024, and new AC systems from 2024. One unit is occupied by a tenant renewing for another 12-month term beginning in October; the other has recently become vacant. The duplex is near Downtown Ocala, Tuscawilla Park, the Reilly Arts Center, shopping, dining, and public transportation.
Exterior and mechanical updates include a roof installed in 2023, new windows from 2024, and new AC systems from 2024. One unit is occupied by a tenant renewing for another 12-month term beginning in October; the other has recently become vacant. The duplex is near Downtown Ocala, Tuscawilla Park, the Reilly Arts Center, shopping, dining, and public transportation.
Key Highlights
- Two‑unit duplex with 1,488 square feet total
- Each residence includes 2 bedrooms, 1 bathroom, and 744 square feet
- Roof replaced in 2023; windows and AC updated in 2024
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
$21,625
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
6.65%
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%
$432,500
$432.5K
Cap Rate 7%
$308,929
$308.9K
Cap Rate 9%
$240,278
$240.3K
Market Conditions
NOI Build-Up for 1,488 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
$42.0K $28.20/SF
− Vacancy
−$2.6K −$1.78/SF
EGI
$39.3K $26.42/SF
− OpEx
−$17.7K −$11.89/SF
NOI
$21.6K $14.53/SF
Area
Marion County, FL
Vacancy
6.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
45.00%
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%
$432,500
Cap Rate 7%
$308,929
Cap Rate 9%
$240,278
Alternative Uses
Best Use
Apartment 5plus
$308.9K
$270.3K – $360.4K
NOI $21,625 @ 7.0% cap · market cap 6.65%
Second Best
Multifamily LT 5
$307.2K
$268.8K – $358.4K
NOI $21,506 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$812.6K
$711.0K – $948.0K
NOI $56,879 @ 7.0% cap · market cap 17.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 34470, FL
20,483
Population
10,121
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
13.4 sq mi
ZIP Area
1,529
Density / Sq Mi
$49,592
Median Household Income
$36,957
Median Earnings
$1,124
Median Rent
$171,500
Median Home Value
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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 - Updated two-residence property with private outdoor areas, washer and dryer connections, and no HOA.
Where is this duplex located?
The property is located at 1135 NE 9TH AVENUE Ocala, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,488 square feet total; Each residence includes 2 bedrooms, 1 bathroom, and 744 square feet; Roof replaced in 2023; windows and AC updated in 2024
