Duplex With Unfinished Center
For Sale
$407,000
11987 Maple St, Dunnellon, FL 34432
Two-bedroom units with updated interiors, separate operating potential, and paver parking on a landscaped lot.
Property Size2,312 SF
Price / SF$176.04
Days on Market48
Property Features for 11987 Maple St
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Multi-Family
Building Details
Year Built
1965
Listing Agency:
LA ROSA REALTY LLC
(561) 512-7758
Listed By:
Leticia Cruz, PA · License #3135661
Source:
Flflourish
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 30 at 7:08PM
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 LA ROSA REALTY LLC
Investment Insights
Based on property information with market context.
This 2,312-square-foot duplex, built in 1965, contains two separate units, each with two bedrooms and one bathroom. Renovations completed in 2024 included double-pane windows, interior and exterior paint, aluminum gutters, refreshed kitchens and bathrooms, granite countertops, and modern cabinetry. The roof was replaced in December 2023. Unit #2 also received a new HVAC system with complete ductwork replacement and a full electrical rewire.
The property at 11987 Maple St in Dunnellon is near historic downtown, shopping, dining, and the Rainbow River. Ocala is less than 30 minutes away for additional healthcare, retail, and entertainment. Paver parking and landscaped grounds serve the duplex, while an unfinished center area offers space for storage, a third rentable unit, or another custom use. One unit is operating as an Airbnb, and the second can accommodate a long-term tenant or owner occupancy.
The property at 11987 Maple St in Dunnellon is near historic downtown, shopping, dining, and the Rainbow River. Ocala is less than 30 minutes away for additional healthcare, retail, and entertainment. Paver parking and landscaped grounds serve the duplex, while an unfinished center area offers space for storage, a third rentable unit, or another custom use. One unit is operating as an Airbnb, and the second can accommodate a long-term tenant or owner occupancy.
Key Highlights
- 2,312‑square‑foot duplex with two 2‑bedroom, 1‑bath units
- 2024 renovations include windows, paint, gutters, kitchens, and bathrooms
- Unit #2 has new HVAC, complete ductwork replacement, and a full electrical rewire
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
$21,106
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
5.19%
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%
$422,120
$422.1K
Cap Rate 7%
$301,514
$301.5K
Cap Rate 9%
$234,511
$234.5K
Market Conditions
NOI Build-Up for 2,312 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
$31.9K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.2K $13.04/SF
− OpEx
−$9.0K −$3.91/SF
NOI
$21.1K $9.13/SF
Area
Citrus County, FL
Vacancy
5.50%
Lease Rate
$13.80 /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%
$422,120
Cap Rate 7%
$301,514
Cap Rate 9%
$234,511
Alternative Uses
Best Use
Multifamily LT 5
$301.5K
$263.8K – $351.8K
NOI $21,106 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$276.6K
$242.1K – $322.7K
NOI $19,364 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$519.5K
$454.6K – $606.1K
NOI $36,365 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 34432, FL
13,159
Population
6,899
Households
1.9
Avg Household Size
58
Median Age
20%
College-Educated
90%
High-School Grad
105.1 sq mi
ZIP Area
125
Density / Sq Mi
$47,711
Median Household Income
$30,240
Median Earnings
$1,077
Median Rent
$223,900
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 with updated interiors, separate operating potential, and paver parking on a landscaped lot.
Where is this duplex located?
The property is located at 11987 Maple St Dunnellon, FL.
What is the asking price?
The asking price for this property is $407,000.
What are key features of this property?
This property features: 2,312‑square‑foot duplex with two 2‑bedroom, 1‑bath units; 2024 renovations include windows, paint, gutters, kitchens, and bathrooms; Unit #2 has new HVAC, complete ductwork replacement, and a full electrical rewire
