Updated Duplex With Leased
For Sale
$269,000
Pending
3135 S Lantana Way, Homosassa, FL 34448
ResidentialIncome, Homosassa, FL
Property Size1,536 SF
Lot Size0.24 Acres
Days on Market47
Property Features for 3135 S Lantana Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
PSO
Parking features
Driveway
Exterior features
PavedDriveway
Appliances
ElectricOven, ElectricRange
Subdivision
Homosassa Cos Sub
Lot features
Cleared, Corner Lot
Directions
Hwy 19 S to Left on Homosassa Trail to right on Lantana to Property on Left
Standard status
Pending
APN
1129788
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
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Well
Amenities
separate laundry rooms
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Flooring type
Tile, Laminate
Building materials
Frame, Stucco
Roof type
Asphalt, Shingle
Architectural style
Other
Additional Structures
Shed(s)
Listing Agency:
Hill Point Realty Inc
(352) 670-4455
Listed By:
Sarah M Hill · License #3447180
(352) 279-0076
Added: Jul 27
Changed: Sep 8
Last Checked: Sep 11 at 7:06AM
MLS# 856419
Copyright © 2026 REALTORS Association of Citrus County, Inc. 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 1,536-square-foot duplex, built in 1982, contains two residences with two bedrooms and one full bathroom each. Both units include separate laundry rooms, living areas, updated kitchens with newer appliances, refreshed bathrooms, and tile or laminate flooring. Recent improvements include a shingle roof installed in 2025, newer air-conditioning units from 2023, and a newer well pump and tank. Central air, a paved driveway, frame and stucco construction, and septic service complete the property improvements. Both residences are currently leased.
The 0.24-acre property is located at 3135 S Lantana Way in Homosassa, within Citrus County. Nearby community amenities identified for the area include shopping, restaurants, medical facilities, schools, and major roadways. Outdoor destinations named in the property information include the Homosassa River, Crystal River, and Homosassa Springs Wildlife State Park. The property is served by a private well and septic tank and is zoned PSO.
The 0.24-acre property is located at 3135 S Lantana Way in Homosassa, within Citrus County. Nearby community amenities identified for the area include shopping, restaurants, medical facilities, schools, and major roadways. Outdoor destinations named in the property information include the Homosassa River, Crystal River, and Homosassa Springs Wildlife State Park. The property is served by a private well and septic tank and is zoned PSO.
Key Highlights
- Two‑unit property with 1,536 square feet of building area
- Each residence includes 2 bedrooms, 1 full bathroom, and a separate laundry room
- Both units are 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
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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences feature private laundry areas, refreshed interiors, and recent major system improvements.
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: Two‑unit property with 1,536 square feet of building area; Each residence includes 2 bedrooms, 1 full bathroom, and a separate laundry room; Both units are currently leased
