Four-Unit Quadplex with Renovated
For Sale
$575,900
2950 SE 53RD Court, Ocala, FL 34480
MULTI_FAMILY - OCALA, FL
Property Size3,417 SF
Lot Size0.25 Acres
Price / SF$168.54
Days on Market122
Property Features for 2950 SE 53RD Court
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R3
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 7, Bedroom 5, Bedroom 8, Bedroom 4, Bedroom 6, Bathroom 5, Bathroom 7, Bathroom 8, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 6, Bathroom 4, Bedroom 2
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen
Exterior features
Fence, Private Entrance
Fencing
Fenced
Subdivision
GREENFIELDS 01
Directions
Take Exit 341 ? State Road 484 (SR-484). Head east on SR-484. Turn left onto SE Baseline Rd (County Rd 35). Continue north for about 2-3 miles. Turn left onto SE 28th St. Turn right onto SE 55th Ave. Turn left onto SE 28th Ln. Arrive at the property (on your right).
Standard status
Active
APN
29698-001-12
Size
3,417 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 25 TWP 15 RGE 22 PLAT BOOK W PAGE 029 GREENFIELDS UNIT 1 BLK A LOT 12
Tax Annual Amount
7047
Legal Description
SEC 25 TWP 15 RGE 22 PLAT BOOK W PAGE 029 GREENFIELDS UNIT 1 BLK A LOT 12
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Tina White · License #3435934
(956) 337-7160
Added: Apr 15
Changed: Aug 13
Last Checked: Aug 14 at 10:06PM
MLS# TB8498918
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 quadplex offers four units in a block construction building, built in 1984. The property includes central heating and central air, a shingle roof, public water, and septic tank sewer service. Interior amenities include ceiling fans and eat-in kitchen features across units. Each unit has a front porch, and the exterior includes fencing and private entrances.
The current leasing situation is three units leased and one unit vacant. Two units have been renovated with vinyl flooring and updated kitchens and bathrooms, while the other two remain unrenovated with tile flooring. Landscaping is maintained weekly, and tenants pay water and electric. The HOA includes trash service. Lease end dates provided are 10/31/2026 for Apt 38 and 10/31/2026 for Apt 40.
Recent improvements include a new roof in 2025 and a newly installed driveway in Dec 2025. The lot size is 0.25 acres, and the property size is 3,417 square feet.
The current leasing situation is three units leased and one unit vacant. Two units have been renovated with vinyl flooring and updated kitchens and bathrooms, while the other two remain unrenovated with tile flooring. Landscaping is maintained weekly, and tenants pay water and electric. The HOA includes trash service. Lease end dates provided are 10/31/2026 for Apt 38 and 10/31/2026 for Apt 40.
Recent improvements include a new roof in 2025 and a newly installed driveway in Dec 2025. The lot size is 0.25 acres, and the property size is 3,417 square feet.
Key Highlights
- R3 zoned four‑unit quadplex with three leased units and one vacant unit
- Two renovated units with vinyl flooring plus updated kitchens and bathrooms
- Central heat and central air in a block construction building built in 1984
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
$49,659
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
8.62%
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%
$993,180
$993.2K
Cap Rate 7%
$709,414
$709.4K
Cap Rate 9%
$551,767
$551.8K
Market Conditions
NOI Build-Up for 3,417 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
$96.4K $28.20/SF
− Vacancy
−$6.1K −$1.78/SF
EGI
$90.3K $26.42/SF
− OpEx
−$40.6K −$11.89/SF
NOI
$49.7K $14.53/SF
Area
Marion County, FL
Vacancy
6.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
45.00%
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%
$993,180
Cap Rate 7%
$709,414
Cap Rate 9%
$551,767
Alternative Uses
Best Use
Apartment 5plus
$709.4K
$620.7K – $827.7K
NOI $49,659 @ 7.0% cap · market cap 8.62%
Second Best
Multifamily LT 5
$705.5K
$617.3K – $823.1K
NOI $49,385 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,616 @ 7.0% cap · market cap 22.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Explore this area
Business Placement
Demographics for 34480, FL
21,709
Population
9,864
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
35.2 sq mi
ZIP Area
617
Density / Sq Mi
$75,334
Median Household Income
$40,953
Median Earnings
$1,238
Median Rent
$248,400
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?
Quadplex - R3 zoned quadplex with three leased units and one vacant unit, including two recently updated interiors.
Where is this quadplex located?
The property is located at 2950 SE 53RD Court Ocala, FL.
What is the asking price?
The asking price for this property is $575,900.
What are key features of this property?
This property features: R3 zoned four‑unit quadplex with three leased units and one vacant unit; Two renovated units with vinyl flooring plus updated kitchens and bathrooms; Central heat and central air in a block construction building built in 1984
