Duplex with Garages and Fenced
New
For Sale
$350,000
7487 Canterbury St, Spring Hill, FL 34606
Both residences are tenant occupied and include individual garages, screened outdoor areas, and fenced backyards.
Property Size2,080 SF
Price / SF$168.27
Days on Market3
Property Features for 7487 Canterbury St
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Building Details
Year Built
1980
Listing Agency:
Remax/Premier Realty Hwy 200
(352) 433-4449
Listed By:
Alan Atchley
(941) 556-9100
Source:
Atchleyrealty
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 22 at 4:14PM
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 Remax/Premier Realty Hwy 200
Investment Insights
Based on property information with market context.
This duplex contains two separate 2-bedroom, 2-bath residences, each measuring 1,040 square feet and providing a one-car garage. Interior features include tile flooring, eat-in kitchens, living rooms with ceiling fans, washer and dryer hookups, and sliding doors connecting to the outdoor areas. Each residence also includes two full bathrooms, with one tub-and-shower combination and one shower bathroom.
Outdoor features include front patios, covered screened rear porches, and fenced backyards. Both units are currently tenant occupied. The roof was completed in 2017, and the electrical panel was updated in 2018. The property is located near shopping, a bus line, and restaurants at 7487 Canterbury St in Spring Hill, Florida.
Outdoor features include front patios, covered screened rear porches, and fenced backyards. Both units are currently tenant occupied. The roof was completed in 2017, and the electrical panel was updated in 2018. The property is located near shopping, a bus line, and restaurants at 7487 Canterbury St in Spring Hill, Florida.
Key Highlights
- Two 2‑bedroom, 2‑bath units totaling 2,080 square feet
- Each unit measures 1,040 sq ft and includes a 1‑car garage
- Both units are currently tenant occupied
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
$23,688
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
6.77%
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%
$473,760
$473.8K
Cap Rate 7%
$338,400
$338.4K
Cap Rate 9%
$263,200
$263.2K
Market Conditions
NOI Build-Up for 2,080 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
$36.2K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$33.8K $16.27/SF
− OpEx
−$10.2K −$4.88/SF
NOI
$23.7K $11.39/SF
Area
Spring Hill, FL
Vacancy
6.50%
Lease Rate
$17.40 /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%
$473,760
Cap Rate 7%
$338,400
Cap Rate 9%
$263,200
Alternative Uses
Best Use
Multifamily LT 5
$338.4K
$296.1K – $394.8K
NOI $23,688 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$314.1K
$274.8K – $366.4K
NOI $21,984 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$665.0K
$581.9K – $775.9K
NOI $46,551 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 34606, FL
28,548
Population
14,009
Households
2
Avg Household Size
53
Median Age
20%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
2,461
Density / Sq Mi
$54,730
Median Household Income
$33,778
Median Earnings
$1,192
Median Rent
$227,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are tenant occupied and include individual garages, screened outdoor areas, and fenced backyards.
Where is this duplex located?
The property is located at 7487 Canterbury St Spring Hill, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units totaling 2,080 square feet; Each unit measures 1,040 sq ft and includes a 1‑car garage; Both units are currently tenant occupied
