Four-Property Residential Income
For Sale
$650,000
5010 5040 5080 & 5120 Barker Point, Lecanto, FL 34461
Adjacent renovated residences offer fenced parcels, full occupancy, and convenient access to shopping, medical offices, parks, and the Suncoast Parkway.
Property Size3,880 SF
Price / SF$167.53
Days on Market15
Property Features for 5010 5040 5080 & 5120 Barker Point
General Information
Standard status
Active
Size
3,880 SF
Property subtype
General Commercial
Occupancy
100%
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,776
Amenities
Electric, Window/Wall Unit
3
Metal
Driveway, Private.
Private Roads, Unimproved Road, Acreage.
Building Details
Year Built
1982
Buildings
4
Stories
1
Listing Agency:
Keller Williams Realty - Elite Partners II
(352) 870-4622
Listed By:
Louis Newman · License #3411168
(352) 870-4622
Source:
Xome
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 26 at 5:15AM
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 Keller Williams Realty - Elite Partners II
Investment Insights
Based on property information with market context.
This residential income portfolio comprises four adjacent renovated 3/2 properties with steel roofs, fenced parcels, and a combined property size of 3,880 square feet. The improvements date to 1982 and have been recently updated. All four properties are fully occupied, with reported 100% occupancy.
The properties are located in Lecanto, Florida, within a stated 10–15 minute drive of shopping, medical offices, parks, and the Suncoast Parkway. The parcels are in an X flood zone. Financial information includes an almost 10% cap rate, providing a defined metric for evaluating the portfolio alongside the physical improvements and occupancy history.
The properties are located in Lecanto, Florida, within a stated 10–15 minute drive of shopping, medical offices, parks, and the Suncoast Parkway. The parcels are in an X flood zone. Financial information includes an almost 10% cap rate, providing a defined metric for evaluating the portfolio alongside the physical improvements and occupancy history.
Key Highlights
- Four adjacent 3/2 residential income properties
- Combined property size of 3,880 square feet
- Recently renovated properties with steel roofs
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
$32,497
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
5.00%
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%
$649,940
$649.9K
Cap Rate 7%
$464,243
$464.2K
Cap Rate 9%
$361,078
$361.1K
Market Conditions
NOI Build-Up for 3,880 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
$62.9K $16.20/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$59.1K $15.23/SF
− OpEx
−$26.6K −$6.85/SF
NOI
$32.5K $8.38/SF
Area
Citrus County, FL
Vacancy
6.00%
Lease Rate
$16.20 /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%
$649,940
Cap Rate 7%
$464,243
Cap Rate 9%
$361,078
Alternative Uses
Best Use
Apartment 5plus
$464.2K
$406.2K – $541.6K
NOI $32,497 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$871.8K
$762.9K – $1.02M
NOI $61,028 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 34461, FL
11,388
Population
5,552
Households
2.1
Avg Household Size
58
Median Age
23%
College-Educated
92%
High-School Grad
45.8 sq mi
ZIP Area
249
Density / Sq Mi
$60,795
Median Household Income
$33,825
Median Earnings
$1,190
Median Rent
$287,200
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?
Residential income property - Adjacent renovated residences offer fenced parcels, full occupancy, and convenient access to shopping, medical offices, parks, and the Suncoast Parkway.
Where is this residential income property located?
The property is located at 5010 5040 5080 & 5120 Barker Point Lecanto, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four adjacent 3/2 residential income properties; Combined property size of 3,880 square feet; Recently renovated properties with steel roofs
