Two-Unit Duplex with
New
For Sale
$350,000
7487 Canterbury Street, Spring Hill, FL 34606
ResidentialIncome, Spring Hill, FL
Property Size2,080 SF
Lot Size0.22 Acres
Price / SF$168.27
Days on Market5
Property Features for 7487 Canterbury Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Out of County
Parking features
Driveway
Interior features
SlidingGlassDoors
Exterior features
RainGutters, ConcreteDriveway
Appliances
Dishwasher, ElectricOven, ElectricRange, Disposal, Refrigerator
Subdivision
Spring Hill
High school
Weeki Wachee High
Directions
From US 19 go East on Spring Hill Dr, Left on London Ave, Left on Canterbury St, house on right.
Standard status
Active
APN
00456704
Size
2,080 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SPRING HILL UNIT 3 BLK 151 LOT 16
Tax Annual Amount
4881
Legal Description
SPRING HILL UNIT 3 BLK 151 LOT 16
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central, Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
fenced backyard
screened outdoor living area
tile flooring
eat-in kitchen
ceiling fan
sliding glass doors
front patio
covered screened rear porch
washer/dryer hook-up
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Stucco
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Keller Williams-Elite Partners · Keller Williams Realty
(352) 688-6500
Listed By:
Tracie Maler · License #3246734
(352) 848-5064
Added: Sep 18
Last Checked: Sep 22 at 3:06PM
MLS# 858011
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.
Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each measuring 1,040 square feet with two bedrooms, two full bathrooms, tile flooring, an eat-in kitchen, living room, and sliding glass doors opening to the outdoor areas. Each unit also includes a one-car garage with washer and dryer hookups, a fenced backyard, and a screened rear porch. The property has a 0.22-acre lot and 2,080 square feet of total building area.
Both units are tenant occupied on month-to-month leases. The roof was installed in 2017, and the electrical panel was updated in 2018. Additional features include central air, electric heating, public water and sewer, asphalt shingle roofing, stucco construction, concrete driveways, and front patios. Shopping, a bus line, and restaurants are nearby.
Both units are tenant occupied on month-to-month leases. The roof was installed in 2017, and the electrical panel was updated in 2018. Additional features include central air, electric heating, public water and sewer, asphalt shingle roofing, stucco construction, concrete driveways, and front patios. Shopping, a bus line, and restaurants are nearby.
Key Highlights
- Two‑unit duplex with 2,080 square feet of total building area
- Each residence includes 2 bedrooms, 2 bathrooms, and 1,040 square feet
- One‑car garage provided for each unit, with washer/dryer hookups
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
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences offer private garages, fenced outdoor areas, and month-to-month occupancy.
Where is this duplex located?
The property is located at 7487 Canterbury Street 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‑unit duplex with 2,080 square feet of total building area; Each residence includes 2 bedrooms, 2 bathrooms, and 1,040 square feet; One‑car garage provided for each unit, with washer/dryer hookups
