Updated Two-Unit
For Sale
$269,000
3135 S LANTANA Way, Homosassa, FL 34448
Residential Income, HOMOSASSA, FL
Property Size1,536 SF
Lot Size0.24 Acres
Price / SF$175.13
Days on Market62
Property Features for 3135 S LANTANA Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
PSO
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 4, Laundry Room
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Eat-in Kitchen
Appliances
Range, Refrigerator
Subdivision
HOMOSASSA UNIT 06
Lot features
Corner Lot, Flood Insurance Required
Elementary school
Homosassa Elementary School
Middle school
Crystal River Middle School
High school
Crystal River High School
Directions
Hwy 19 S to Left on Homosassa Trail to right on Lantana to Property on Left
Standard status
Active
APN
17E-19S-22-0060-02530-0010
Size
1,536 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM AT MOST S'LY COR OF LT 22 BLK 253 PLAT OF UNIT NO 6 OF HOMOSASSA ACC TO PLAT THEREOF REC IN PB 1 PG 48 OF THE PRCCF TH N 45DEG W AL SW'LY BNDRY OF SD BLK 253 250.0 FT TO POB SD PT ALSO BEING ON NW'LY BNDRY OF SD LBK 253 TH N 45DEG E AL SD NW'LY B NDRY 82.4 FT TH S 45DEG E 128.0 FT TH S 45DEG W 82.4 FT TO SD SW'LY BNDRY OF BLK 253 TH N 45DEG W 128.0 FT TO POB BEING PT OF 8 FT WALK ALL OF LT 1 AND PART OF LT 2 BLK 253 OF SD PLAT OF UNIT 6 OF HOMOSASSA PB 1 PG 48
Tax Annual Amount
2561
Legal Description
COM AT MOST S'LY COR OF LT 22 BLK 253 PLAT OF UNIT NO 6 OF HOMOSASSA ACC TO PLAT THEREOF REC IN PB 1 PG 48 OF THE PRCCF TH N 45DEG W AL SW'LY BNDRY OF SD BLK 253 250.0 FT TO POB SD PT ALSO BEING ON NW'LY BNDRY OF SD LBK 253 TH N 45DEG E AL SD NW'LY B NDRY 82.4 FT TH S 45DEG E 128.0 FT TH S 45DEG W 82.4 FT TO SD SW'LY BNDRY OF BLK 253 TH N 45DEG W 128.0 FT TO POB BEING PT OF 8 FT WALK ALL OF LT 1 AND PART OF LT 2 BLK 253 OF SD PLAT OF UNIT 6 OF HOMOSASSA PB 1 PG 48
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Private
Amenities
private laundry rooms
Building Details
Year built
1982
Floors in Building
1
Flooring type
Laminate, Tile
Building materials
Stucco, Frame
Roof type
Shingle
Listing Agency:
JT REALTY & ASSOCIATES
(352) 279-2640
Listed By:
Sarah Hill · License #3447180
(352) 279-0076
Added: Jul 6
Changed: Aug 25
Last Checked: Sep 5 at 8:06AM
MLS# TB8525628
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 two-unit duplex in Homosassa provides 1,536 square feet on a 0.24-acre lot, with each residence configured as a two-bedroom, one-bath unit. Both sides include private laundry rooms, living areas, refreshed kitchens with newer appliances, updated bathrooms, and laminate or tile flooring. The property also features a shingle roof, central heating and cooling, stucco and frame construction, a patio, and a private water source with septic service.
Capital improvements include a roof installed in 2025, A/C units from 2023, and a newer well pump and tank. Both units are currently leased. The property is located near shopping, restaurants, medical facilities, schools, and major roadways, with Homosassa River, Crystal River, and Homosassa Springs Wildlife State Park among the nearby recreational destinations.
Capital improvements include a roof installed in 2025, A/C units from 2023, and a newer well pump and tank. Both units are currently leased. The property is located near shopping, restaurants, medical facilities, schools, and major roadways, with Homosassa River, Crystal River, and Homosassa Springs Wildlife State Park among the nearby recreational destinations.
Key Highlights
- 1,536‑square‑foot duplex on a 0.24‑acre lot
- Two units, each with 2 bedrooms and 1 bathroom
- Both units currently leased
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
$14,022
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
5.21%
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%
$280,440
$280.4K
Cap Rate 7%
$200,314
$200.3K
Cap Rate 9%
$155,800
$155.8K
Market Conditions
NOI Build-Up for 1,536 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
$21.2K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$20.0K $13.04/SF
− OpEx
−$6.0K −$3.91/SF
NOI
$14.0K $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%
$280,440
Cap Rate 7%
$200,314
Cap Rate 9%
$155,800
Alternative Uses
Best Use
Multifamily LT 5
$200.3K
$175.3K – $233.7K
NOI $14,022 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$183.8K
$160.8K – $214.4K
NOI $12,865 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$345.1K
$302.0K – $402.7K
NOI $24,160 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 34448, FL
10,889
Population
6,437
Households
1.7
Avg Household Size
59
Median Age
18%
College-Educated
86%
High-School Grad
72.3 sq mi
ZIP Area
151
Density / Sq Mi
$47,526
Median Household Income
$23,452
Median Earnings
$941
Median Rent
$166,000
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 - Two leased residences offer separate laundry areas and refreshed interiors.
Where is this duplex located?
The property is located at 3135 S LANTANA Way Homosassa, FL.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1,536‑square‑foot duplex on a 0.24‑acre lot; Two units, each with 2 bedrooms and 1 bathroom; Both units currently leased
