Updated Duplex with Oversized
For Sale
$225,000
1927 Nw 2nd St, Ocala, FL 34470
Two-unit residential property with refreshed interiors, a new roof, included kitchen appliances, and substantial outdoor space.
Property Size1,164 SF
Price / SF$193.30
Days on Market32
Property Features for 1927 Nw 2nd St
General Information
Standard status
Active
Size
1,164 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,087
Listing Agency:
WILSHIRE REALTY GROUP LLC
(941) 567-8288
Listed By:
Jean Raymond · License #3358747
(941) 567-8288
Source:
Exprealty
Added: Jul 29
Changed: Aug 21
Last Checked: Aug 28 at 3:37PM
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 WILSHIRE REALTY GROUP LLC
Investment Insights
Based on property information with market context.
This duplex contains 1,164 square feet and has received several updates, including new flooring, fresh interior paint, and a new roof. The kitchen includes appliances, while the oversized yard provides substantial outdoor space alongside the residential improvements.
The property is configured as a two-bedroom, one-bath duplex and is located at 1927 NW 2nd St in Ocala, Florida. Its two-unit format supports the stated owner-occupant arrangement of living in one unit while renting the other, or use as a residential income property.
The property is configured as a two-bedroom, one-bath duplex and is located at 1927 NW 2nd St in Ocala, Florida. Its two-unit format supports the stated owner-occupant arrangement of living in one unit while renting the other, or use as a residential income property.
Key Highlights
- Duplex with 1,164 square feet of building area
- Two‑bedroom, one‑bath configuration
- New flooring and fresh interior paint
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
$16,916
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
7.52%
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%
$338,320
$338.3K
Cap Rate 7%
$241,657
$241.7K
Cap Rate 9%
$187,956
$188.0K
Market Conditions
NOI Build-Up for 1,164 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
$32.8K $28.20/SF
− Vacancy
−$2.1K −$1.78/SF
EGI
$30.8K $26.42/SF
− OpEx
−$13.8K −$11.89/SF
NOI
$16.9K $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%
$338,320
Cap Rate 7%
$241,657
Cap Rate 9%
$187,956
Alternative Uses
Best Use
Apartment 5plus
$241.7K
$211.5K – $281.9K
NOI $16,916 @ 7.0% cap · market cap 7.52%
Second Best
Multifamily LT 5
$240.3K
$210.3K – $280.4K
NOI $16,823 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$635.6K
$556.2K – $741.6K
NOI $44,494 @ 7.0% cap · market cap 19.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 34470, FL
20,483
Population
10,121
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
13.4 sq mi
ZIP Area
1,529
Density / Sq Mi
$49,592
Median Household Income
$36,957
Median Earnings
$1,124
Median Rent
$171,500
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-unit residential property with refreshed interiors, a new roof, included kitchen appliances, and substantial outdoor space.
Where is this duplex located?
The property is located at 1927 Nw 2nd St Ocala, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex with 1,164 square feet of building area; Two‑bedroom, one‑bath configuration; New flooring and fresh interior paint
