Listing Agency: Epique Realty Inc. f***@epiquerealty.com Show Phone

Listed By: Shields Gay V · License #3498503 Show Phone

Source: Exprealty

Added: Aug 28 Changed: Oct 13 Last Checked: Oct 16 at 9:41AM

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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.

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 / Yr

$18,111

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,220 $362.2K

Cap Rate 7%

$258,729 $258.7K

Cap Rate 9%

$201,233 $201.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,984 SF

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 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 (±1% cap)

NOI $18,111 @ 7.0% cap · market cap 6.06%

Second Best

Apartment 5plus

$237.4K

$207.7K – $277.0K (±1% cap)

NOI $16,617 @ 7.0% cap · market cap 5.56%

Theoretical Best

Specialty Retail

$445.8K

$390.1K – $520.1K (±1% cap)

NOI $31,206 @ 7.0% cap · market cap 10.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Hair Salon Building Supply Nail Salon HVAC Service Skin Care Clinic Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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