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    New Leesburg Duplex For Sale Title is generated by Realmo AI

    2108 & 2110 SOUTH STREET, Leesburg, FL 34748

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    New
    For Sale
    $459,000

    Duplex - LEESBURG, FL

    Type:Duplex
    Property size:
    2,622 SF
    Lot size:
    0.47 Acres
    Price / SF:
    $175/SF
    Added:
    May 17, 2026
    Days on Market:
    2
    Last Refresh:
    May 18 at 6:06 am

    Property Features for 2108 & 2110 SOUTH STREET

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Property condition
    New Construction
    Zoning
    R-2
    Bedrooms
    6
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Interior features
    Accessibility Features, Open Floorplan, Stone Counters, Thermostat, Vaulted Ceiling(s), Walk-in Closet(s), Window Treatments
    Exterior features
    Lighting, Sidewalk
    Standard status
    Active
    APN
    27-19-24-0003-000-05100
    Size
    2,622 SF
    Lot size
    0.47 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    578.72

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2026
    Number of units
    1
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    James Grayford
    James Grayford

    Listing agent James Grayford License #3234997

    Listing office FLORIDA RE ANALYSTS, INC 4327 S Highway 27, #430, Clermont, FL

    Listing date May 17, 2026

    MLS# O6408544 Listing URL

    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.

    HighLights

    • Brand new duplex, ideal for income generation or owner occupancy with low maintenance costs.
    • High‑quality kitchen features granite countertops, slow‑close cabinets with dovetail drawers, stainless steel sink, Samsung dishwasher, and Whirlpool refrigerator with ice and water.
    • Durable and low‑maintenance interior with commercial‑rated LVP flooring, tile in bathrooms, and Sterling Vikrel shower units (no grout).
    • Energy‑efficient Carrier A/C units with easy‑change filters.
    • Convenient location: Directly across from elementary school and less than a mile from the high school.
    • Option to purchase adjacent lot zoned for a duplex for $25,000.

    Overview

    This new duplex is an income-producing property designed for long-term renters and lower maintenance costs. Each unit features a large kitchen with light grey cabinets, 36" uppers, slow-close hinges, 3/4" shelves, dovetail drawers, and granite countertops. The kitchens include an undermounted stainless steel sink, glass top range, Samsung dishwashers, and a double-door Whirlpool refrigerator with ice and water dispenser. Commercial-rated LVP flooring is installed throughout, with tile in the bathrooms. Bathroom cabinets also feature granite countertops and four drawers, along with Sterling Vikrel shower units. Each unit is equipped with Carrier A/C units using 3-month filters and hookups for stacked washer and dryer units. The master bedroom includes a large walk-in closet (15'8"x 11'8"), with additional bedrooms measuring 11'6" x 10'4" and 10'6" x 10'11". A craftsman-style front door provides visibility. The exterior sprinkler system splits the water bill between units and waters the low-maintenance Bahia grass. The property is located on South Street, across from the elementary school and less than a mile from the high school. The property size is 2622 square feet and the lot size is 0.47 acres. The zoning is R-2. The buyer has the option to purchase the adjacent lot next door, zoned for a duplex.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $388.6K
    NOI $34,971 @ 9.00% cap · cautious / downside scenario
    Moderate
    $499.6K
    NOI $34,971 @ 7.00% cap · market / base-case scenario
    Aggressive
    $699.4K
    NOI $34,971 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $53.5k $20.40
    − Vacancy −$3.5k −$1.35
    EGI $50.0k $19.05
    − OpEx −$15.0k −$5.72
    NOI $35.0k $13.34
    2,622 SF · lease $20.40/SF/yr · vacancy 6.60% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $499.6K
    $437.1K – $582.9K (±1% cap)
    NOI $34,971 @ 7.0% cap · market cap 7.62%
    Second Best
    Apartment 5plus
    $460.0K
    $402.5K – $536.7K (±1% cap)
    NOI $32,199 @ 7.0% cap · market cap 7.02%
    Theoretical Best
    Office A
    $746.1K
    $652.9K – $870.5K (±1% cap)
    NOI $52,230 @ 7.0% cap · market cap 11.38%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.898613
    Latitude
    28.803502

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    FAQs

    What type of property is this?
    Duplex - New duplex in Leesburg, FL, ideal for long-term rental.
    Where is this duplex located?
    The property is located at 2108 & 2110 SOUTH STREET Leesburg, FL.
    What is the asking price?
    The asking price for this property is $459,000.
    What are key features of this property?
    This property features: Brand new duplex, ideal for income generation or owner occupancy with low maintenance costs.; High‑quality kitchen features **granite countertops, slow‑close cabinets with dovetail drawers, stainless steel sink, Samsung dishwasher, and Whirlpool refrigerator with ice and water.**; Durable and low‑maintenance interior with **commercial‑rated LVP flooring, tile in bathrooms, and Sterling Vikrel shower units (no grout).**
    (352) 267-4511
    We can help!
    Listing Contact
    James Grayford
    James Grayford
    Real Estate License ID: 3234997
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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