Duplex With Two Two-Bedroom
For Sale
$309,900
1632/1634 NW 20TH Court, Ocala, FL 34475
MULTI_FAMILY - OCALA, FL
Property Size1,240 SF
Lot Size0.23 Acres
Price / SF$249.92
Days on Market29
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
Bathroom 1, Bathroom 3, Dining Room, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 7, Bedroom 8, Bedroom 4, Bedroom 5
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
Wall/Window Unit(s), 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 14
Last Checked: Aug 15 at 4:06AM
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 well-maintained duplex offers two separate living units with a total of two 2-bedroom, 1-bath homes. The interior layout includes living room/dining room combo spaces and tile flooring, with concrete construction. Heating is provided by ductless systems, and the property has window and wall/window unit cooling. The roof is shingled, and the home is served by public water and public sewer, with cable available.
Set on a 0.23-acre lot, the property is located at 1632/1634 NW 20th Court in Ocala, Florida, in R2 zoning. Quick access to I-75 and nearby shopping, restaurants, medical facilities, and everyday conveniences support everyday live-work flexibility. The duplex is directly across the street from the Mary Sue Rich Community Center at Reed Place, which features a full fitness center, indoor walking track, basketball courts, and a library/media center, along with wellness classes and year-round programs.
Built in 1979, this duplex can be used as an owner-occupied residence with rental income or as a two-unit rental setup.
Set on a 0.23-acre lot, the property is located at 1632/1634 NW 20th Court in Ocala, Florida, in R2 zoning. Quick access to I-75 and nearby shopping, restaurants, medical facilities, and everyday conveniences support everyday live-work flexibility. The duplex is directly across the street from the Mary Sue Rich Community Center at Reed Place, which features a full fitness center, indoor walking track, basketball courts, and a library/media center, along with wellness classes and year-round programs.
Built in 1979, this duplex can be used as an owner-occupied residence with rental income or as a two-unit rental setup.
Key Highlights
- Two 2‑bedroom, 1‑bath units in a duplex configuration
- 0.23‑acre lot size and 1,240 SF property size
- Built in 1979 with shingle roof and concrete construction
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway 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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex in R2 zoning with public utilities, two 2-bedroom units, and convenient access to I-75.
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 2‑bedroom, 1‑bath units in a duplex configuration; 0.23‑acre lot size and 1,240 SF property size; Built in 1979 with shingle roof and concrete construction
