2-Unit
506 PAULLING DRIVE #506-508, Leesburg, FL 34748
For Sale
$400,000
Each residence has two bedrooms, two full bathrooms, and an open living, dining, and kitchen layout.
Property Size1,824 SF
Price / SF$219.30
Days on Market10
Property Features for 506 PAULLING DRIVE #506-508
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
air conditioning
washer and dryer hookups
Building Details
Year Built
Listing Agency:
COMPASS FLORIDA LLC
(407) 203-9441
Listed By:
Hanh Dinh · License #3366443
(305) 772-4596
Source:
Endlesssummerrealty
Added: Oct 31
Changed: Nov 8
Last Checked: Nov 8 at 5:52AM
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 COMPASS FLORIDA LLC
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Investment Insights
Based on property information with market context.
Built in 2007, this duplex contains two residences of 912 square feet each, for 1,824 square feet total. Both units offer two bedrooms, two full bathrooms, and air-conditioned living space. The living, dining, and kitchen areas share an open layout. The property also includes a one-car garage and washer and dryer hookups.
The property is near shopping, dining, and everyday amenities in Leesburg. Its two-unit configuration allows an owner to occupy one residence and rent the other, a use specifically suited to the layout.
The property is near shopping, dining, and everyday amenities in Leesburg. Its two-unit configuration allows an owner to occupy one residence and rent the other, a use specifically suited to the layout.
Key Highlights
- Two units, each with 912 square feet; 1,824 square feet total
- Both residences have 2 bedrooms and 2 full bathrooms
- Open living, dining, and kitchen areas in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,061
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,220
$421.2K
Cap Rate 7%
$300,871
$300.9K
Cap Rate 9%
$234,011
$234.0K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$31.7K $17.40/SF
− Vacancy
−$1.7K −$0.90/SF
EGI
$30.1K $16.50/SF
− OpEx
−$9.0K −$4.95/SF
NOI
$21.1K $11.55/SF
Area
Lake County, FL
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,220
Cap Rate 7%
$300,871
Cap Rate 9%
$234,011
Alternative Uses
Best Use
Multifamily LT 5
$300.9K
$263.3K – $351.0K
NOI $21,061 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$272.5K
$238.4K – $317.9K
NOI $19,074 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$588.2K
$514.6K – $686.2K
NOI $41,171 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
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Business Placement
Demographics for 34748, FL
45,481
Population
25,740
Households
1.8
Avg Household Size
60
Median Age
24%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$53,768
Median Household Income
$30,762
Median Earnings
$1,181
Median Rent
$226,200
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lake County, FL
Properties on Market for Duplexes in Lake County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, two full bathrooms, and an open living, dining, and kitchen layout.
Where is this duplex located?
The property is located at 506 PAULLING DRIVE #506-508 Leesburg, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two units, each with 912 square feet; 1,824 square feet total; Both residences have 2 bedrooms and 2 full bathrooms; Open living, dining, and kitchen areas in each unit
