Leased 2-Unit
For Sale
$245,000
512 LONG Avenue, Inverness, FL 34453
Residential Income, INVERNESS, FL
Property Size1,530 SF
Lot Size0.23 Acres
Price / SF$160.13
Days on Market478
Property Features for 512 LONG Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
LMD
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 4
Exterior features
Rain Gutters
Subdivision
INVERNESS ACRES UNIT 02 AKA INVERNESS VILLAGE
Elementary school
Pleasant Grove Elementary School
Middle school
Inverness Middle School
High school
Citrus High School
Directions
From Highway 44 W, North onto Forest Dr, Right onto Long Ave. Property is on the Right.
Standard status
Active
APN
19E-19S-12-0120-00340-0070
Size
1,530 SF
Lot size
0.23 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Year
2024
Tax Description
INVERNESS ACRES UNIT 2 PB 6 PG 52 LOT 7 BLK 34
Tax Annual Amount
3131
Legal Description
INVERNESS ACRES UNIT 2 PB 6 PG 52 LOT 7 BLK 34
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Number of units
2
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
CENTURY 21 J.W.MORTON R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Thao Le · License #3390499
(352) 586-3666
Added: Jul 16, 2025
Changed: Nov 5
Last Checked: Nov 5 at 11:06PM
MLS# OM705609
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 1,530-square-foot duplex contains two residences, each with two bedrooms and one bathroom. Both units are leased. The 0.23-acre property has a shingle roof, block and stucco construction, central electric heating, and central air conditioning. A new roof is noted, along with separate utility meters for the units.
Public water and a septic system serve the property. It is located three miles from downtown Inverness and is zoned LMD.
Public water and a septic system serve the property. It is located three miles from downtown Inverness and is zoned LMD.
Key Highlights
- Both units are leased; each has 2 bedrooms and 1 bathroom
- 1,530‑square‑foot duplex on a 0.23‑acre lot
- Separate utility meters, public water, and septic system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,967
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,340
$279.3K
Cap Rate 7%
$199,529
$199.5K
Cap Rate 9%
$155,189
$155.2K
Market Conditions
NOI Build-Up for 1,530 SF
Gross rent
$21.1K $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 Rate 5%
$279,340
Cap Rate 7%
$199,529
Cap Rate 9%
$155,189
Alternative Uses
Best Use
Multifamily LT 5
$199.5K
$174.6K – $232.8K
NOI $13,967 @ 7.0% cap · market cap 5.70%
Second Best
Apartment 5plus
$183.1K
$160.2K – $213.6K
NOI $12,814 @ 7.0% cap · market cap 5.23%
Theoretical Best
Specialty Retail
$343.8K
$300.8K – $401.1K
NOI $24,065 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Explore this area
Business Placement
Demographics for 34453, FL
10,964
Population
5,628
Households
1.9
Avg Household Size
54
Median Age
19%
College-Educated
94%
High-School Grad
27.1 sq mi
ZIP Area
405
Density / Sq Mi
$58,064
Median Household Income
$33,341
Median Earnings
$1,046
Median Rent
$174,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and feature separate utility meters, public water, and septic service.
Where is this duplex located?
The property is located at 512 LONG Avenue Inverness, FL.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Both units are leased; each has 2 bedrooms and 1 bathroom; 1,530‑square‑foot duplex on a 0.23‑acre lot; Separate utility meters, public water, and septic system
