Duplex Investment
224 RIDGECREST LOOP Minneola, FL 34715
For Sale
$490,000
Pending
Two-unit duplex with recent roof, two HVAC systems, and updated garage doors on a large lot.
Property Size2,183 SF
Days on Market551
Property Features for 224 RIDGECREST LOOP
General Information
- Standard status
- Pending
- Size
- 2,183 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1991
Listing Agency:
FOR SALE HOMES LLC
(440) 309-8401
Listed By:
Tracy Harper · License #3269357
(440) 309-8401
Source:
Exitrealty
Added: Jan 19, 2025
Changed: Jul 22
Last Checked: Jul 23 at 6:24AM
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 FOR SALE HOMES LLC
Investment Insights
Based on property information with market context.
Duplex for sale offering two separate units under one roof. Each unit features three bedrooms, two bathrooms, and a one-car garage. The layout includes open living areas with cathedral ceilings and practical storage such as a pantry and linen closet. Recent improvements include a new roof (December 2024), two new HVAC systems (2024), and new garage doors (2024). One unit has recently been vacated and is available, while the other unit remains occupied by long-term tenants.
The property is located on a loop with no through traffic and sits on an over-quarter-acre lot with no rear neighbors. It is described as convenient to Highway 27, with shopping, dining, and charter schools reportedly just minutes away.
Unit configuration totals six bedrooms, four bathrooms, and two garages across the duplex. Square footage is provided by a public source and is to be verified by the buyer.
The property is located on a loop with no through traffic and sits on an over-quarter-acre lot with no rear neighbors. It is described as convenient to Highway 27, with shopping, dining, and charter schools reportedly just minutes away.
Unit configuration totals six bedrooms, four bathrooms, and two garages across the duplex. Square footage is provided by a public source and is to be verified by the buyer.
Key Highlights
- Duplex built in 1991 with two units (total 6 bedrooms, 4 bathrooms, and 2 one‑car garages).
- Recent updates include a new roof (December 2024), two new HVAC systems (2024), and new garage doors (2024).
- Each unit has 3 bedrooms and 2 bathrooms with a one‑car garage.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.5k | $20.40 |
| − Vacancy | −$2.9k | −$1.35 |
| EGI | $41.6k | $19.05 |
| − OpEx | −$12.5k | −$5.72 |
| NOI | $29.1k | $13.34 |
2,183 SF · lease $20.40/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$415.9K
$364.0K – $485.3K
NOI $29,116 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$383.0K
$335.1K – $446.8K
NOI $26,808 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$621.2K
$543.6K – $724.8K
NOI $43,485 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with recent roof, two HVAC systems, and updated garage doors on a large lot.
Where is this duplex located?
The property is located at 224 RIDGECREST LOOP Minneola, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Duplex built in 1991 with two units (total 6 bedrooms, 4 bathrooms, and 2 one‑car garages).; Recent updates include a new roof (December 2024), two new HVAC systems (2024), and new garage doors (2024).; Each unit has 3 bedrooms and 2 bathrooms with a one‑car garage.
