Renovated Triplex with Carport
For Sale
$650,000
205 E 10TH Ave, Mount Dora, FL 32757
Renovated triplex offering two 1-bedroom studio-style units and one 2-bedroom unit with shared laundry and carport parking.
Property Size2,107 SF
Days on Market56
Property Features for 205 E 10TH Ave
General Information
Standard status
Active
Size
2,107 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,178
Building Details
Building Size
2,107 SF
Year Built
1951
Listing Agency:
(352) 357-2400
Listed By:
Loretta C. Maimone · License #3118600
(352) 357-2400
Source:
Elliman
Added: Jun 13
Changed: Aug 7
Last Checked: Aug 7 at 5:52AM
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 Loretta C. Maimone
Investment Insights
Based on property information with market context.
This for-sale triplex has been renovated and is presented as move-in ready. The layout includes two spacious 1-bedroom, 1-bath studio-style units, along with a separate 2-bedroom unit that provides access to a shared laundry room. The units have been refreshed with modern finishes, and the property includes designated carport parking spaces plus additional storage areas for tenant convenience.
The property is located in the heart of Mount Dora, with downtown amenities described as close by, including boutique shopping, waterfront dining, and local festivals. The surrounding area is characterized in the remarks as walkable-by-car dependent, with easy access to parks, lakes, restaurants, and entertainment.
This configuration can fit multiple ownership and occupancy approaches, including an investor looking for three rental units, a seasonal resident seeking rental flexibility, or an owner-occupant who wants income from additional units. With shared laundry and carport parking on site, the property supports practical everyday living for tenants while offering a straightforward, turnkey option for buyers considering both short- and long-term rental use.
The property is located in the heart of Mount Dora, with downtown amenities described as close by, including boutique shopping, waterfront dining, and local festivals. The surrounding area is characterized in the remarks as walkable-by-car dependent, with easy access to parks, lakes, restaurants, and entertainment.
This configuration can fit multiple ownership and occupancy approaches, including an investor looking for three rental units, a seasonal resident seeking rental flexibility, or an owner-occupant who wants income from additional units. With shared laundry and carport parking on site, the property supports practical everyday living for tenants while offering a straightforward, turnkey option for buyers considering both short- and long-term rental use.
Key Highlights
- Renovated triplex built in 1951 in Mount Dora, offering three rental units with a flexible live‑in or investment setup
- Two 1‑bedroom, 1‑bath studio‑style units, refreshed and ready to lease immediately
- One 2‑bedroom unit with access to a shared laundry room
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
$28,102
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
4.32%
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%
$562,040
$562.0K
Cap Rate 7%
$401,457
$401.5K
Cap Rate 9%
$312,244
$312.2K
Market Conditions
NOI Build-Up for 2,107 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
$43.0K $20.40/SF
− Vacancy
−$2.8K −$1.35/SF
EGI
$40.1K $19.05/SF
− OpEx
−$12.0K −$5.72/SF
NOI
$28.1K $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%
$562,040
Cap Rate 7%
$401,457
Cap Rate 9%
$312,244
Alternative Uses
Best Use
Multifamily LT 5
$401.5K
$351.3K – $468.4K
NOI $28,102 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$369.6K
$323.4K – $431.3K
NOI $25,875 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$599.6K
$524.6K – $699.5K
NOI $41,971 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
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?
Triplex - Renovated triplex offering two 1-bedroom studio-style units and one 2-bedroom unit with shared laundry and carport parking.
Where is this triplex located?
The property is located at 205 E 10TH Ave Mount Dora, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Renovated triplex built in 1951 in Mount Dora, offering three rental units with a flexible live‑in or investment setup; Two 1‑bedroom, 1‑bath studio‑style units, refreshed and ready to lease immediately; One 2‑bedroom unit with access to a shared laundry room
