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    Updated Duplex with Commercial Potential Title is generated by Realmo AI

    6260 LANDOVER TERRACE, North Port, FL 34287

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    Pending
    $335,000

    Duplex - NORTH PORT, FL

    Type:Duplex
    Property size:
    1,842 SF
    Lot size:
    0.17 Acres
    Added:
    May 8, 2025
    Days on Market:
    389
    Last Refresh:
    May 31 at 2:06 am

    Property Features for 6260 LANDOVER TERRACE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    RTF
    Bedrooms
    4
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Driveway
    Interior features
    Split Bedroom
    Exterior features
    Storage
    Standard status
    Pending
    APN
    0999035104
    Size
    1,842 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    5178.95

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1973
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Frame, Wood Siding
    Roof type
    Shingle
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Aiyana Ward

    Listing agent Aiyana Ward License #3511208

    Listing office GAILEY ENTERPRISES REAL ESTATE 1414 SW MartinLutherKingJr Ave, Ocala, FL

    Listing date May 8, 2025

    MLS# OM701134 Listing URL

    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.

    HighLights

    • Live in one unit and rent the other - one unit is vacant!
    • Updated zoning allows for commercial or business opportunities.
    • Recent updates include a new roof (2023), exterior paint, updated copper wiring, upgraded electrical panels, and re‑plumbing.
    • Both units feature updated kitchens and bathrooms with modern finishes like quartz countertops and stainless‑steel appliances.
    • Each unit has its own newer HVAC system and separately metered washer/dryer hookups.
    • Located near shopping, dining, parks, I‑75, and U.S. 41 in a rapidly growing area with strong rental potential.

    Overview

    This well-maintained duplex in North Port, Florida, features two spacious units with recent updates. One unit has been fully remodeled with a renovated bathroom and updated kitchen including new appliances. The second unit showcases a kitchen with quartz countertops, tile backsplash, and stainless-steel appliances, along with an updated bathroom featuring quartz countertops. Both units feature brand-new luxury vinyl plank flooring throughout. Each unit has its own newer HVAC system and separately metered washer and dryer hookups. The property includes a convenient storage unit. The entire exterior has been recently painted, and the roof was replaced in 2023. Major systems have been updated, including updated copper wiring, recently upgraded electrical with new panel boxes, and re-plumbing. The property is located minutes from shopping, dining, and parks, with easy access to I-75 and U.S. 41. The property is located in a rapidly growing area of Southwest Florida, known for its excellent schools, friendly community, and proximity to Gulf Coast beaches. The zoning has been updated, now allowing for commercial or business opportunities. The property size is 1842 square feet and sits on a lot of 0.17 acres.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    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.

    Component $ $/SF
    Gross rent $29.8k $16.20
    − Vacancy −$2.9k −$1.60
    EGI $26.9k $14.60
    − OpEx −$8.1k −$4.38
    NOI $18.8k $10.22
    1,842 SF · lease $16.20/SF/yr · vacancy 9.88% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $268.9K
    $235.3K – $313.8K (±1% cap)
    NOI $18,825 @ 7.0% cap · market cap 5.62%
    Second Best
    Apartment 5plus
    $239.6K
    $209.7K – $279.6K (±1% cap)
    NOI $16,775 @ 7.0% cap · market cap 5.01%
    Theoretical Best
    Office A
    $523.5K
    $458.1K – $610.8K (±1% cap)
    NOI $36,646 @ 7.0% cap · market cap 10.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    North Port
    County
    Sarasota
    State
    Florida
    Longitude
    -82.234378
    Latitude
    27.04115

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    FAQs

    What type of property is this?
    Duplex - Updated duplex in North Port with commercial zoning and strong rental.
    Where is this duplex located?
    The property is located at 6260 LANDOVER TERRACE North Port, FL.
    What is the asking price?
    The asking price for this property is $335,000.
    What are key features of this property?
    This property features: Live in one unit and rent the other - one unit is vacant!; Updated zoning allows for commercial or business opportunities.; Recent updates include a new roof (2023), exterior paint, updated copper wiring, upgraded electrical panels, and re‑plumbing.
    (954) 822-4657
    We can help!
    Listing Contact
    Aiyana Ward
    Real Estate License ID: 3511208
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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.

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