Renovated Duplex with Modern
For Sale
$280,000
Pending
2278 MAINE Street, Eustis, FL 32726
Residential Income, EUSTIS, FL
Property Size1,408 SF
Lot Size0.45 Acres
Days on Market53
Property Features for 2278 MAINE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 4, Bedroom 2, Dining Room, Bedroom 1, Bedroom 3, Bathroom 1
Pets allowed
Yes
Interior features
Living Room/Dining Room Combo
Exterior features
Fence
Fencing
Fenced
Subdivision
RICHARDS ADD
Elementary school
Eustis Elem
Middle school
Eustis Middle
High school
Eustis High School
Directions
Orange Avenue to Maine Street. Sign on Property.
Standard status
Pending
APN
12-19-26-4100-006-00100
Size
1,408 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RICHARD'S ADD LOTS 1 2 3 BLK 6 PB 1 PG 36 ORB 6544 PG 2126
Tax Annual Amount
4259
Legal Description
RICHARD'S ADD LOTS 1 2 3 BLK 6 PB 1 PG 36 ORB 6544 PG 2126
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Number of units
2
Building materials
Block
Roof type
Shingle
Listing Agency:
WEICHERT REALTORS HALLMARK PROPERTIES
(407) 644-5385
Listed By:
Maru Reyes · License #3457824
(407) 729-7622
Added: Aug 3
Changed: Sep 23
Last Checked: Sep 24 at 7:06PM
MLS# O6430601
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.
Investment Insights
Based on property information with market context.
This duplex contains 1,408 square feet across two units, with each unit offering two bedrooms and one bathroom. Interior improvements include luxury vinyl plank flooring, open living and dining areas, kitchens, and updated finishes. Newer air conditioning systems and water heaters add to the recent updates. The block-constructed property also features a shingle roof, electric heating, central air, a fence, public water, and a septic tank.
The property occupies a 0.45-acre lot at 2278 Maine Street in Eustis, Florida 32726. Shopping, dining, schools, parks, and major roadways are identified in the surrounding area, with access to Mount Dora, Tavares, and other Central Florida destinations. R-1 zoning applies to the property.
The property occupies a 0.45-acre lot at 2278 Maine Street in Eustis, Florida 32726. Shopping, dining, schools, parks, and major roadways are identified in the surrounding area, with access to Mount Dora, Tavares, and other Central Florida destinations. R-1 zoning applies to the property.
Key Highlights
- Two‑unit duplex with 1,408 square feet of property size
- Each unit includes 2 bedrooms and 1 bathroom
- Situated on a 0.45‑acre lot in Eustis, FL
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
$18,779
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
6.71%
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%
$375,580
$375.6K
Cap Rate 7%
$268,271
$268.3K
Cap Rate 9%
$208,656
$208.7K
Market Conditions
NOI Build-Up for 1,408 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
$28.7K $20.40/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$26.8K $19.05/SF
− OpEx
−$8.0K −$5.72/SF
NOI
$18.8K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$375,580
Cap Rate 7%
$268,271
Cap Rate 9%
$208,656
Alternative Uses
Best Use
Multifamily LT 5
$268.3K
$234.7K – $313.0K
NOI $18,779 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$247.0K
$216.1K – $288.2K
NOI $17,291 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$400.7K
$350.6K – $467.5K
NOI $28,047 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 updated interiors, central air, fenced grounds, and R-1 zoning.
Where is this duplex located?
The property is located at 2278 MAINE Street Eustis, FL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,408 square feet of property size; Each unit includes 2 bedrooms and 1 bathroom; Situated on a 0.45‑acre lot in Eustis, FL
