Duplex with Two Garage
New
For Sale
$400,000
506 PAULLING Drive, Leesburg, FL 34748
Residential Income, LEESBURG, FL
Property Size1,824 SF
Lot Size0.21 Acres
Price / SF$219.30
Days on Market4
Property Features for 506 PAULLING Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Dining Room, Bathroom 1
Parking features
Driveway
Interior features
Living Room/Dining Room Combo, Primary Bedroom Main Floor, Thermostat
Exterior features
Garden
Subdivision
SUNNYSIDE SUB
Directions
From US Highway 441, turn onto E Dixie Avenue (SR 44). Continue east, turn right onto Sunnyside Drive, then right onto Paulling Drive. Proceed to 506 Paulling Drive, Leesburg, FL 34748.
Standard status
Active
APN
30-19-25-0950-000-01800
Size
1,824 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUNNYSIDE SUBDIVISION PB 55 PG 97-98 LOT 18 ORB 5388 PG 1282
Tax Annual Amount
3650
Legal Description
SUNNYSIDE SUBDIVISION PB 55 PG 97-98 LOT 18 ORB 5388 PG 1282
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Building materials
Block, Stucco
Roof type
Shingle
Buildings
1
Listing Agency:
COMPASS FLORIDA LLC
(407) 203-9441
Listed By:
Hanh Dinh · License #3366443
(305) 772-4596
Added: Oct 31
Changed: Nov 3
Last Checked: Nov 3 at 6:06AM
MLS# G5119618
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.
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Investment Insights
Based on property information with market context.
This 2007 duplex contains two units, each with 912 square feet of living space, two bedrooms, and two full bathrooms. Both residences have an open living, dining, and kitchen arrangement, plus a one-car garage with washer and dryer hookups. Block and stucco construction, central heating and air conditioning, and a shingle roof serve the property.
The 0.21-acre parcel is in Leesburg, Florida, and is zoned R-2. Public water and sewer are available, along with cable service. A garden and driveway parking are also listed among the property features.
The 0.21-acre parcel is in Leesburg, Florida, and is zoned R-2. Public water and sewer are available, along with cable service. A garden and driveway parking are also listed among the property features.
Key Highlights
- Two units, each with 912 square feet of living area
- Four bedrooms and four full bathrooms across the duplex
- Each unit includes a one‑car garage with washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,328
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,560
$486.6K
Cap Rate 7%
$347,543
$347.5K
Cap Rate 9%
$270,311
$270.3K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$37.2K $20.40/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$34.8K $19.05/SF
− OpEx
−$10.4K −$5.72/SF
NOI
$24.3K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,560
Cap Rate 7%
$347,543
Cap Rate 9%
$270,311
Alternative Uses
Best Use
Multifamily LT 5
$347.5K
$304.1K – $405.5K
NOI $24,328 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$320.0K
$280.0K – $373.3K
NOI $22,399 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$519.1K
$454.2K – $605.6K
NOI $36,334 @ 7.0% cap · market cap 9.08%
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored residences provide a combined four-bedroom layout, with central air conditioning and driveway parking.
Where is this duplex located?
The property is located at 506 PAULLING Drive 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 of living area; Four bedrooms and four full bathrooms across the duplex; Each unit includes a one‑car garage with washer and dryer hookups
