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    Two Cottages in Floral City Title is generated by Realmo AI

    5530 S Perch Drive, Floral City, FL 34436

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    For Sale
    Under Contract
    $219,000

    MULTI_FAMILY - Other - Floral City, FL

    Type:Single Family Residence
    Property size:
    1,440 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $152/SF
    Added:
    Feb 26, 2026
    Days on Market:
    86
    Last Refresh:
    May 23 at 5:06 am

    Property Features for 5530 S Perch Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Zoning
    A1
    Parking features
    Paved or Surfaced
    Appliances
    ElectricOven, ElectricRange
    Standard status
    Active Under Contract
    APN
    1881935
    Size
    1,440 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    WITHLAPOPKA ISL UNIT 1 PB 3 PG 93 LOT 15 BLK 7
    Tax Annual Amount
    1571

    Utilities

    Cooling system
    Ductless, Central Air
    Water source
    Public

    Building Details

    Year built
    1969
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Linoleum, Carpet
    Building materials
    Block, Concrete, Frame
    Roof type
    Metal, Shingle, Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Ray Holland McKnight III

    Listing agent Ray Holland McKnight III License #3398882

    Listing office Tropic Shores Realty 6460 W Gulf to Lake Hwy, Spring Hill, FL

    Listing date Feb 26, 2026

    MLS# 852706 Listing URL

    Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two separate two‑bedroom, one‑bath cottages on one parcel, offering flexible living options.
    • Deeded lake access to Church Lake, providing convenient boating and recreation opportunities.
    • Located in The Cottages at Church Lake, a rare island property in Floral City.
    • Proximity to local destinations like Sleepy Hollow and the Boondocks Market.
    • Setting framed by cypress trees and old Florida canopy, creating a peaceful and shaded environment.
    • Close‑knit community living without waterfront congestion or premiums.

    Overview

    Located near Church Lake and the Flying Eagle Preserve in Floral City, this property features two separate cottages on a single parcel. The Cottages at Church Lake include Cypress View Cottage and Fan Boat Flat, each offering two bedrooms and one bath. The setting is characterized by cypress trees and old Florida canopy, creating a relaxed and welcoming environment. The property offers close-knit community living with water access, connecting residents to local destinations like Sleepy Hollow and the Boondocks Market. The cottages provide comfortable indoor living and a peaceful outdoor setting. The lot size is 0.28 acres, and the property size is 1440 square feet. The zoning is A1.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $146.1K
    NOI $13,145 @ 9.00% cap · cautious / downside scenario
    Moderate
    $187.8K
    NOI $13,145 @ 7.00% cap · market / base-case scenario
    Aggressive
    $262.9K
    NOI $13,145 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $19.9k $13.80
    − Vacancy −$1.1k −$0.76
    EGI $18.8k $13.04
    − OpEx −$5.6k −$3.91
    NOI $13.1k $9.13
    1,440 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $187.8K
    $164.3K – $219.1K (±1% cap)
    NOI $13,145 @ 7.0% cap · market cap 6.00%
    Second Best
    Apartment 5plus
    $172.3K
    $150.8K – $201.0K (±1% cap)
    NOI $12,061 @ 7.0% cap · market cap 5.51%
    Theoretical Best
    Specialty Retail
    $323.6K
    $283.1K – $377.5K (±1% cap)
    NOI $22,650 @ 7.0% cap · market cap 10.34%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Auto Repair Shop Gym & Fitness Center Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Floral City
    County
    Citrus
    State
    Florida
    Longitude
    -82.262101
    Latitude
    28.782353

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    FAQs

    What type of property is this?
    Duplex - Two-house property near Church Lake and Flying Eagle Preserve.
    Where is this duplex located?
    The property is located at 5530 S Perch Drive Floral City, FL.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: Two separate two‑bedroom, one‑bath cottages on one parcel, offering flexible living options.; Deeded lake access to Church Lake, providing convenient boating and recreation opportunities.; Located in The Cottages at Church Lake, a rare island property in Floral City.
    (813) 928-3413
    We can help!
    Listing Contact
    Ray Holland McKnight III
    Real Estate License ID: 3398882
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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