Duplex with Two-Bedroom
New
For Sale
$299,000
2316 Colby St, Inverness, FL 34453
Well-maintained duplex with separate laundry and storage rooms, individual utility sub-metering, and one occupied unit.
Property Size1,984 SF
Price / SF$150.71
Days on Market6
Property Features for 2316 Colby St
General Information
Standard status
Active
Size
1,984 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,267
Listing Agency:
Epique Realty Inc.
(888) 893-3537
Listed By:
Shields Gay V · License #3498503
(352) 586-6724
Source:
Exprealty
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 9:45PM
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 Epique Realty Inc.
Investment Insights
Based on property information with market context.
This well-maintained duplex contains two 2-bedroom, 2-bath units within 1,984 square feet. Each residence includes its own laundry room and an additional storage room. One side is occupied, while the other is vacant and available for a new tenant or owner-occupant. A newer A/C unit serves the property, and water and electric service are individually sub-metered for each unit. Trash service is included in the water bill.
The property is situated within the Inverness city limits on approximately 0.28 acres and is not located in a flood zone. Its two-unit configuration supports an owner-occupant arrangement or continued rental use, subject to applicable requirements.
The property is situated within the Inverness city limits on approximately 0.28 acres and is not located in a flood zone. Its two-unit configuration supports an owner-occupant arrangement or continued rental use, subject to applicable requirements.
Key Highlights
- Two 2‑bedroom, 2‑bath units
- 1,984 square feet on approximately 0.28 acres
- One unit occupied; second unit vacant
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
$18,111
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
6.06%
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%
$362,220
$362.2K
Cap Rate 7%
$258,729
$258.7K
Cap Rate 9%
$201,233
$201.2K
Market Conditions
NOI Build-Up for 1,984 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
$27.4K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$25.9K $13.04/SF
− OpEx
−$7.8K −$3.91/SF
NOI
$18.1K $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%
$362,220
Cap Rate 7%
$258,729
Cap Rate 9%
$201,233
Alternative Uses
Best Use
Multifamily LT 5
$258.7K
$226.4K – $301.9K
NOI $18,111 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$237.4K
$207.7K – $277.0K
NOI $16,617 @ 7.0% cap · market cap 5.56%
Theoretical Best
Specialty Retail
$445.8K
$390.1K – $520.1K
NOI $31,206 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 34453, FL
10,964
Population
5,628
Households
1.9
Avg Household Size
54
Median Age
19%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
405
Density / Sq Mi
$58,064
Median Household Income
$33,341
Median Earnings
$1,046
Median Rent
$174,500
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 - Well-maintained duplex with separate laundry and storage rooms, individual utility sub-metering, and one occupied unit.
Where is this duplex located?
The property is located at 2316 Colby St Inverness, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units; 1,984 square feet on approximately 0.28 acres; One unit occupied; second unit vacant
