Duplex With Covered
For Sale
$299,900
5121-5115 UPSON Avenue, De Leon Springs, FL 32130
Residential, DE LEON SPRINGS, FL
Property Size1,536 SF
Lot Size0.32 Acres
Price / SF$195.25
Days on Market56
Property Features for 5121-5115 UPSON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-4
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Family Room, Bathroom 1, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3
Appliances
Gas Water Heater, Refrigerator
Subdivision
BEARDSLEYS DELEON SPGS
Directions
NW on 15A,Turn left on N. Woodland/17N, Right on E. Berlin, 3rd left onto Upson
Standard status
Active
APN
43-16-29-01-09-0070
Size
1,536 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 7 EXC N 8 FT & ALL OF LOT 9 BEARDSLEYS DELEON SPRINGS MB 1 PG 37 PER OR 3500 PG 1130 PER OR 7128 PG 4317
Tax Annual Amount
2999
Legal Description
LOT 7 EXC N 8 FT & ALL OF LOT 9 BEARDSLEYS DELEON SPRINGS MB 1 PG 37 PER OR 3500 PG 1130 PER OR 7128 PG 4317
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Well
Building Details
Year built
1957
Floors in Building
1
Flooring type
Terrazzo
Building materials
Block
Roof type
Shingle
Listing Agency:
STOCKWORTH REALTY GROUP
(407) 909-5900
Listed By:
Oliver Alfaro · License #3650659
(805) 206-9638
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 15 at 4:06AM
MLS# O6428488
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.
Investment Insights
Based on property information with market context.
This block-construction duplex contains 1,536 square feet on a 0.32-acre parcel and was built in 1957. The property includes two separate units, each described as having two bedrooms, one bathroom, and a covered carport. Recent property improvements include wall-mounted split air conditioners and new ceiling fans. Terrazzo flooring, a shingle roof, a gas water heater, and a refrigerator are also included. Water service is provided by a well, with septic infrastructure serving the property.
Both units are currently occupied under month-to-month arrangements. The spacious grounds provide room for RV, boat, or trailer parking. The property is zoned R-4 and is located in De Leon Springs, approximately 7 miles north of DeLand and near the St. Johns River. An adjacent duplex at 5135-5129 Upson Ave. may also be available as part of a package purchase.
Both units are currently occupied under month-to-month arrangements. The spacious grounds provide room for RV, boat, or trailer parking. The property is zoned R-4 and is located in De Leon Springs, approximately 7 miles north of DeLand and near the St. Johns River. An adjacent duplex at 5135-5129 Upson Ave. may also be available as part of a package purchase.
Key Highlights
- 1,536‑square‑foot duplex on a 0.32‑acre lot
- Two units, each with 2 bedrooms, 1 bathroom, and a covered carport
- Both units occupied under month‑to‑month tenancy
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
$13,475
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
4.49%
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%
$269,500
$269.5K
Cap Rate 7%
$192,500
$192.5K
Cap Rate 9%
$149,722
$149.7K
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
$21.4K $13.92/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$19.2K $12.53/SF
− OpEx
−$5.8K −$3.76/SF
NOI
$13.5K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /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%
$269,500
Cap Rate 7%
$192,500
Cap Rate 9%
$149,722
Alternative Uses
Best Use
Multifamily LT 5
$192.5K
$168.4K – $224.6K
NOI $13,475 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$167.2K
$146.3K – $195.1K
NOI $11,704 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$452.9K
$396.3K – $528.4K
NOI $31,703 @ 7.0% cap · market cap 10.57%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 32130, FL
5,485
Population
2,082
Households
2.6
Avg Household Size
45
Median Age
23%
College-Educated
89%
High-School Grad
94.6 sq mi
ZIP Area
58
Density / Sq Mi
$59,288
Median Household Income
$35,647
Median Earnings
$1,181
Median Rent
$269,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units offer month-to-month tenancy, split-system cooling, and additional outdoor parking capacity.
Where is this duplex located?
The property is located at 5121-5115 UPSON Avenue De Leon Springs, FL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,536‑square‑foot duplex on a 0.32‑acre lot; Two units, each with 2 bedrooms, 1 bathroom, and a covered carport; Both units occupied under month‑to‑month tenancy
