Half Duplex Investment
For Sale
$149,900
2038 SW 70TH TERRACE, Gainesville, FL 32607
A 2 bed, 2 bath half duplex with fenced backyard, shed, and updated major systems.
Property Size874 SF
Price / SF$171.51
Days on Market52
Property Features for 2038 SW 70TH TERRACE
General Information
Standard status
Active
Size
874 SF
Property subtype
Half Duplex
Additional Details
Fenced Yard
Yes
Amenities
0.09 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 06678-022-021, Public Survey Range: 19, Public Survey Section: 9, Annual Amount: $1,885.19, Tax Book Number: M-15, Legal Description: TOWER OAKS MANOR UNIT 2 PB M-15 LOT 21 OR 4555/1366, Lot: 21, Year: 2025, Zoning: PD
Carpet, Vinyl
Central Air
Electric
Inside, Laundry Room
Listing ID: MFRGC541949, Standard Status: Active, MLS Status: Active, Property Subtype: Half Duplex, On market as of 2026-07-17, 42 days on market, Special Conditions: None
2 total bedrooms
Built in 1984, Living area: 874, Living area units: Square Feet, Building faces East, 1 storey, Levels: One, Construction Materials: Frame
Subdivision: TOWER OAKS MANOR, MLS Area (Major): 32607 - Gainesville, County/Parish: Alachua
2 total bathrooms, 2 full bathrooms
Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
Slab
Close Of Escrow
Road Surface: Paved
Storage
Kitchen/Family Room Combo, Living Room/Dining Room Combo, Primary Bedroom Main Floor
Refrigerator
Building Details
Year Built
1984
Listing Agency:
WATSON REALTY CORP- TIOGA
(352) 224-2600
Listed By:
Kaitlyn Perry · License #3403095
Source:
Miharaandassociates
Added: Jul 17
Changed: Sep 5
Last Checked: Sep 5 at 6:36AM
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 WATSON REALTY CORP- TIOGA
Investment Insights
Based on property information with market context.
This offering is a half duplex featuring two bedrooms and two bathrooms. The interior includes a combined living, kitchen, and dining area designed for everyday gathering. The primary bedroom includes an ensuite bathroom, and there is an additional large space that can serve practical needs such as storage, work-from-home space, or hobbies.
Outside, the property includes a fully fenced backyard with a shed. The roof is described as being about 8 years old (2018), the A/C about 9 years old (2017), and the water heater about 5 years old (2021).
From an ownership standpoint, the layout provides a straightforward duplex configuration with enclosed outdoor space for tenants or owner-occupants.
Outside, the property includes a fully fenced backyard with a shed. The roof is described as being about 8 years old (2018), the A/C about 9 years old (2017), and the water heater about 5 years old (2021).
From an ownership standpoint, the layout provides a straightforward duplex configuration with enclosed outdoor space for tenants or owner-occupants.
Key Highlights
- Half duplex built in 1984 offering 2 bedrooms and 2 bathrooms
- Primary bedroom includes an ensuite bathroom plus a large addition for storage or flexible use
- Fully fenced backyard with a shed
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
$8,580
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
5.72%
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%
$171,600
$171.6K
Cap Rate 7%
$122,571
$122.6K
Cap Rate 9%
$95,333
$95.3K
Market Conditions
NOI Build-Up for 874 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
$13.1K $15.00/SF
− Vacancy
−$852 −$0.98/SF
EGI
$12.3K $14.03/SF
− OpEx
−$3.7K −$4.21/SF
NOI
$8.6K $9.82/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$171,600
Cap Rate 7%
$122,571
Cap Rate 9%
$95,333
Alternative Uses
Best Use
Multifamily LT 5
$122.6K
$107.3K – $143.0K
NOI $8,580 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$110.0K
$96.3K – $128.3K
NOI $7,700 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$216.5K
$189.4K – $252.6K
NOI $15,153 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
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 - A 2 bed, 2 bath half duplex with fenced backyard, shed, and updated major systems.
Where is this duplex located?
The property is located at 2038 SW 70TH TERRACE Gainesville, FL.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Half duplex built in 1984 offering 2 bedrooms and 2 bathrooms; Primary bedroom includes an ensuite bathroom plus a large addition for storage or flexible use; Fully fenced backyard with a shed
