Two-Unit Duplex with Tile
For Sale
$305,900
1632/1634 NW 20TH Court, Ocala, FL 34475
Residential Income, OCALA, FL
Property Size1,240 SF
Lot Size0.23 Acres
Price / SF$246.69
Days on Market46
Property Features for 1632/1634 NW 20TH Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 8, Bathroom 2, Bathroom 3, Dining Room, Bedroom 3, Bedroom 7, Bedroom 6, Bedroom 1, Bathroom 4, Bedroom 5, Bathroom 1
Interior features
L Dining, Living Room/Dining Room Combo
Subdivision
RICHMOND HEIGHTS
Elementary school
South Ocala Elementary School
Middle school
Howard Middle School
High school
Vanguard High School
Directions
W on US 27 Right on Martin Luther King Jr. Ave Left on NW 17th Street, Turn Left on NW 20th Court.
Standard status
Active
APN
2196-008-001
Size
1,240 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 12 TWP 15 RGE 21 PLAT BOOK G PAGE 106 RICHMOND HEIGHTS BLK 8 LOTS 1.2.3.4
Tax Annual Amount
7997
Legal Description
SEC 12 TWP 15 RGE 21 PLAT BOOK G PAGE 106 RICHMOND HEIGHTS BLK 8 LOTS 1.2.3.4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1979
Flooring type
Tile
Building materials
Concrete
Roof type
Shingle
Listing Agency:
HOMERUN REALTY
(352) 624-0935
Listed By:
Dawn Padot
(352) 207-0005
Added: Jul 18
Changed: Aug 26
Last Checked: Sep 1 at 3:06PM
MLS# OM728865
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,240-square-foot duplex contains two 2-bedroom, 1-bath residences within a concrete-built property constructed in 1979. Tile flooring, combined living and dining areas, ductless heating, and window or wall units for cooling serve the interior. The property includes a shingle roof, public water, public sewer, and cable availability, with a total lot area of 0.23 acres.
Located in Ocala, the duplex sits directly across from the Mary Sue Rich Community Center at Reed Place, which offers a fitness center, indoor walking track, basketball courts, library and media center, wellness classes, and programming for multiple age groups. I-75, shopping, restaurants, medical facilities, and other daily services are also identified as convenient to the property.
With two similarly configured units, the property supports owner-occupied living with rental income from the other residence or leasing both units, as described in the property information.
Located in Ocala, the duplex sits directly across from the Mary Sue Rich Community Center at Reed Place, which offers a fitness center, indoor walking track, basketball courts, library and media center, wellness classes, and programming for multiple age groups. I-75, shopping, restaurants, medical facilities, and other daily services are also identified as convenient to the property.
With two similarly configured units, the property supports owner-occupied living with rental income from the other residence or leasing both units, as described in the property information.
Key Highlights
- Two 2‑bedroom, 1‑bath units within the duplex
- 1,240 square feet on a 0.23‑acre lot
- R2 zoning supports the property's residential configuration
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
5.89%
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 5.89%
Second Best
Multifamily LT 5
$256.0K
$224.0K – $298.7K
NOI $17,921 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$677.1K
$592.5K – $790.0K
NOI $47,399 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
236
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
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Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned property offers residential flexibility near recreation, shopping, medical services, and I-75 access.
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 $305,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units within the duplex; 1,240 square feet on a 0.23‑acre lot; R2 zoning supports the property's residential configuration
