2018-Built Duplex
For Sale
$489,000
2142 S Gleneagle Terrace, Lecanto, FL 34461
MULTI_FAMILY - Other - Lecanto, FL
Property Size3,556 SF
Lot Size0.46 Acres
Price / SF$137.51
Days on Market354
Property Features for 2142 S Gleneagle Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
PSO
Parking features
Driveway
Interior features
FirstFloorEntry
Exterior features
Landscaping, ConcreteDriveway
Appliances
Dishwasher, ElectricOven, ElectricRange, MicrowaveHoodFan, Microwave, Refrigerator
Subdivision
Not on List
Lot features
Cleared, Flat
Elementary school
Rock Crusher Elementary
Middle school
Crystal River Middle
High school
Crystal River High
Directions
Hwy 44W to Hwy 490 to R on S Gleneagle Terr. Units on left, must go to end of median and make u-turn
Standard status
Active
APN
3522468
Size
3,556 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GIGURE SUBDIVISION PB 19 PG 131 PARCEL "A".
Tax Annual Amount
6494
Legal Description
GIGURE SUBDIVISION PB 19 PG 131 PARCEL "A".
Utilities
Sewer type
Septic Tank
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
2018
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Stucco
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Castro Realty & Property Manag
(352) 228-0876
Listed By:
Marguerite A Budnick · License #561554
(352) 228-0876
Added: Aug 28, 2025
Changed: Aug 14
Last Checked: Aug 16 at 6:06PM
MLS# 847414
Copyright © 2026 REALTORS Association of Citrus County, Inc. 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 2018-built duplex property includes units with three bedrooms, two bathrooms, and two-car garages. Interior features include granite countertops, soft-close cabinetry, stainless steel appliances, and luxury vinyl plank flooring. Each unit also provides first-floor entry, while the property includes concrete driveways, landscaping, central air, electric heat, and shingle roofing.
The property is located in Lecanto, Florida, within Citrus County, and carries PSO zoning. The site encompasses 0.46 acres and is served by septic infrastructure. Rental operations are supported by a reported 100% occupancy rate, with all but one tenant having remained for 5 years or longer.
The property is located in Lecanto, Florida, within Citrus County, and carries PSO zoning. The site encompasses 0.46 acres and is served by septic infrastructure. Rental operations are supported by a reported 100% occupancy rate, with all but one tenant having remained for 5 years or longer.
Key Highlights
- 2018‑built duplex property in Lecanto, FL
- Each unit offers 3 bedrooms, 2 bathrooms, and a 2‑car garage
- Units feature granite counters, soft‑close cabinets, stainless steel appliances, and vinyl flooring
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
$32,462
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
6.64%
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%
$649,240
$649.2K
Cap Rate 7%
$463,743
$463.7K
Cap Rate 9%
$360,689
$360.7K
Market Conditions
NOI Build-Up for 3,556 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
$49.1K $13.80/SF
− Vacancy
−$2.7K −$0.76/SF
EGI
$46.4K $13.04/SF
− OpEx
−$13.9K −$3.91/SF
NOI
$32.5K $9.13/SF
Area
Citrus County, FL
Vacancy
5.50%
Lease Rate
$13.80 /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%
$649,240
Cap Rate 7%
$463,743
Cap Rate 9%
$360,689
Alternative Uses
Best Use
Multifamily LT 5
$463.7K
$405.8K – $541.0K
NOI $32,462 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$425.5K
$372.3K – $496.4K
NOI $29,783 @ 7.0% cap · market cap 6.09%
Theoretical Best
Specialty Retail
$799.0K
$699.2K – $932.2K
NOI $55,932 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 34461, FL
11,388
Population
5,552
Households
2.1
Avg Household Size
58
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
249
Density / Sq Mi
$60,795
Median Household Income
$33,825
Median Earnings
$1,190
Median Rent
$287,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated rental units feature three-bedroom layouts, private garages, modern finishes, and included kitchen appliances.
Where is this duplex located?
The property is located at 2142 S Gleneagle Terrace Lecanto, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2018‑built duplex property in Lecanto, FL; Each unit offers 3 bedrooms, 2 bathrooms, and a 2‑car garage; Units feature granite counters, soft‑close cabinets, stainless steel appliances, and vinyl flooring
