New Construction
For Sale
$565,000
5987 W OAK PARK BOULEVARD, Homosassa, FL 34446
Two separate residences feature open layouts, private porches, upgraded finishes, and attached garages.
Property Size3,000 SF
Price / SF$188.33
Days on Market61
Property Features for 5987 W OAK PARK BOULEVARD
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
4
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
0.34 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 18E-20S-13-0010-01110-0460, Public Survey Range: 18, Public Survey Section: 20, Annual Amount: $521, Tax Block: 111, Tax Book Number: 9-86, Legal Description: SUGARMILL WOODS CYPRESS VLG PB 9 PG 86 LOT 46 BLK 111, Lot: 46, Year: 2025, Zoning: PDR
2 spaces
Central Air
Central
Inside, Laundry Closet
Listing ID: MFRW7887322, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-07-02, 1 day on market, Special Conditions: None
6 total bedrooms
Built in 2026, Living area: 3000, Living area units: Square Feet, Construction Materials: Block, Stucco, Frame
Subdivision: SUGARMILL WOODS CYPRESS VILLAGE, MLS Area (Major): 34446 - Homosassa, County/Parish: Citrus
Completed, Park/Greenbelt
4 total bathrooms
Electricity Connected, Sewer Connected, Water Source: Public
Slab
Allowed: Yes
Electricity, Sewer, Trash Collection, Water
Road Surface: Paved
Living Room/Dining Room Combo, Open Floorplan, Solid Surface Counters, Split Bedroom, Stone Counters, Thermostat
Dishwasher, Microwave, Range, Refrigerator, Other equipment: None
Association Fee: $155, Fee Frequency: Annually
Building Details
Year Built
2026
Buildings
1
Listing Agency:
REALTY EXECUTIVES AMERICA INC
(352) 688-9990
Listed By:
Joshua Miller · License #3293324
Source:
Miharaandassociates
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 30 at 6:16PM
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 REALTY EXECUTIVES AMERICA INC
Investment Insights
Based on property information with market context.
Completed in 2026, this 3,000-square-foot duplex contains two residences, each with three bedrooms, two bathrooms, and a two-car garage. Both sides use an open living and dining arrangement with luxury vinyl plank flooring, granite work surfaces, shaker-style cabinetry, stainless steel appliances, and a central island. Each residence also includes a primary suite with a walk-in closet and private bathroom, an interior laundry room, and covered porches at the front and rear.
The property is located near shopping, dining, schools, and major roadways. The two-residence configuration provides separate living spaces within one newly constructed asset, with consistent finishes and layouts throughout.
The property is located near shopping, dining, schools, and major roadways. The two-residence configuration provides separate living spaces within one newly constructed asset, with consistent finishes and layouts throughout.
Key Highlights
- 2026 construction with 3,000 SF across two residences
- Each side includes 3 bedrooms, 2 bathrooms, and a 2‑car garage
- Open living and dining layouts with a large center island
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
$27,386
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
4.85%
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%
$547,720
$547.7K
Cap Rate 7%
$391,229
$391.2K
Cap Rate 9%
$304,289
$304.3K
Market Conditions
NOI Build-Up for 3,000 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
$41.4K $13.80/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$39.1K $13.04/SF
− OpEx
−$11.7K −$3.91/SF
NOI
$27.4K $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 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%
$547,720
Cap Rate 7%
$391,229
Cap Rate 9%
$304,289
Alternative Uses
Best Use
Multifamily LT 5
$391.2K
$342.3K – $456.4K
NOI $27,386 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$358.9K
$314.1K – $418.8K
NOI $25,126 @ 7.0% cap · market cap 4.45%
Theoretical Best
Specialty Retail
$674.1K
$589.8K – $786.5K
NOI $47,187 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 34446, FL
18,431
Population
9,588
Households
1.9
Avg Household Size
62
Median Age
18%
College-Educated
89%
High-School Grad
29.8 sq mi
ZIP Area
618
Density / Sq Mi
$60,625
Median Household Income
$41,423
Median Earnings
$938
Median Rent
$231,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences feature open layouts, private porches, upgraded finishes, and attached garages.
Where is this duplex located?
The property is located at 5987 W OAK PARK BOULEVARD Homosassa, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2026 construction with 3,000 SF across two residences; Each side includes 3 bedrooms, 2 bathrooms, and a 2‑car garage; Open living and dining layouts with a large center island
