Two-Unit Duplex Near Community
For Sale
$309,900
1632/1634 NW 20TH COURT, Ocala, FL 34475
R2-zoned income property offering owner-occupant flexibility or the option to lease both residences.
Property Size1,240 SF
Days on Market26
Property Features for 1632/1634 NW 20TH COURT
General Information
Standard status
Active
Size
1,240 SF
Property subtype
Residential Income
Zoning
R2
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,997
Building Details
Building Size
1,240 SF
Year Built
1979
Buildings
1
Listing Agency:
HOMERUN REALTY
(352) 207-0005
Listed By:
Dawn Padot
(352) 207-0005
Source:
Bonjorn
Added: Jul 18
Changed: Aug 8
Last Checked: Aug 12 at 12:30PM
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 HOMERUN REALTY
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each with 2 bedrooms and 1 bathroom. Built in 1979 and designated R2, the property supports both owner-occupied living with rental income from the second unit and leasing the full building as a two-unit income property.
The property is located at 1632/1634 NW 20TH COURT in Ocala, with convenient access to I-75, shopping, restaurants, medical facilities, and daily services. The building sits directly across from the Mary Sue Rich Community Center at Reed Place, which offers a fitness center, indoor walking track, basketball courts, library/media center, wellness classes, and programs throughout the year.
The property is located at 1632/1634 NW 20TH COURT in Ocala, with convenient access to I-75, shopping, restaurants, medical facilities, and daily services. The building sits directly across from the Mary Sue Rich Community Center at Reed Place, which offers a fitness center, indoor walking track, basketball courts, library/media center, wellness classes, and programs throughout the year.
Key Highlights
- Two‑unit duplex with two 2‑bedroom, 1‑bath residences
- R2 zoning
- Built in 1979
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
$18,021
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
5.82%
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%
$360,420
$360.4K
Cap Rate 7%
$257,443
$257.4K
Cap Rate 9%
$200,233
$200.2K
Market Conditions
NOI Build-Up for 1,240 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
$35.0K $28.20/SF
− Vacancy
−$2.2K −$1.78/SF
EGI
$32.8K $26.42/SF
− OpEx
−$14.7K −$11.89/SF
NOI
$18.0K $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%
$360,420
Cap Rate 7%
$257,443
Cap Rate 9%
$200,233
Alternative Uses
Best Use
Apartment 5plus
$257.4K
$225.3K – $300.4K
NOI $18,021 @ 7.0% cap · market cap 5.82%
Second Best
Multifamily LT 5
$256.0K
$224.0K – $298.7K
NOI $17,921 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$677.1K
$592.5K – $790.0K
NOI $47,399 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 34475, FL
14,780
Population
5,668
Households
2.6
Avg Household Size
38
Median Age
13%
College-Educated
84%
High-School Grad
27.8 sq mi
ZIP Area
532
Density / Sq Mi
$33,515
Median Household Income
$24,854
Median Earnings
$871
Median Rent
$170,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned income property offering owner-occupant flexibility or the option to lease both residences.
Where is this duplex located?
The property is located at 1632/1634 NW 20TH COURT Ocala, FL.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two‑unit duplex with two 2‑bedroom, 1‑bath residences; R2 zoning; Built in 1979
