Three-Unit Multifamily
For Sale
$350,000
7545 S Old Oaks Drive, Floral City, FL 34436
ResidentialIncome, Floral City, FL
Property Size2,658 SF
Lot Size2.11 Acres
Price / SF$131.68
Days on Market404
Property Features for 7545 S Old Oaks Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
CLRMH
Parking
2
Parking features
Paved or Surfaced, Driveway, Carport
Interior features
EatInKitchen
Exterior features
UnpavedDriveway
Appliances
Dishwasher, ElectricCooktop, ElectricOven, MicrowaveHoodFan, Microwave, Refrigerator
Subdivision
Old Oaks
Lot features
Acreage, Multiple Lots
Elementary school
Floral City Elementary
Middle school
Inverness Middle
High school
Citrus High
Directions
Continue onto US 41, left onto FL 48, left onto E Trails End, left onto S Clay Terrace, left on Old Oaks.
Standard status
Active
APN
2646705
Size
2,658 SF
Lot size
2.11 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
4655
Utilities
Sewer type
Septic Tank
Cooling system
Window Unit(s)
Water source
Well
Building Details
Year built
1971
Floors in Building
1
Flooring type
Vinyl, Tile
Building materials
Stucco
Roof type
Metal
Architectural style
Other
Listing Agency:
Century 21 J.W.Morton R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Luke Whitehurst · License #3273034
(352) 476-5578
Added: Jul 31, 2025
Changed: Sep 4
Last Checked: Sep 7 at 9:06PM
MLS# 846834
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 multifamily property includes three separate dwellings totaling 2658 square feet. The configuration consists of a 1400+ Sqft 3/2 residence, a 672 sqft 2/1 residence, and a 576 sqft 1/1 residence. Each unit has its own power meter, while the homes feature updated interiors, newer appliances, tile and vinyl flooring, and wood details in the log cabin. A new water heater, metal roofing, well water, and septic service are also included.
The property occupies 2.11 acres of fenced land in Floral City, with a paved or surfaced driveway, carport, and unpaved drive areas. Nearby recreational and commercial references include a public boat ramp, Tsala Apopka Lake, the Withlacoochee River, Jacks store, Sleepy Hallow, and Boondocks General store. Zoning is CLRMH.
The property occupies 2.11 acres of fenced land in Floral City, with a paved or surfaced driveway, carport, and unpaved drive areas. Nearby recreational and commercial references include a public boat ramp, Tsala Apopka Lake, the Withlacoochee River, Jacks store, Sleepy Hallow, and Boondocks General store. Zoning is CLRMH.
Key Highlights
- Three dwellings: 1400+ Sqft 3/2, 672 sqft 2/1, and 576 sqft 1/1
- 2.11 acres of fenced land
- Three separate power meters, one for each unit
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
$22,262
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
6.36%
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%
$445,240
$445.2K
Cap Rate 7%
$318,029
$318.0K
Cap Rate 9%
$247,356
$247.4K
Market Conditions
NOI Build-Up for 2,658 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
$43.1K $16.20/SF
− Vacancy
−$2.6K −$0.97/SF
EGI
$40.5K $15.23/SF
− OpEx
−$18.2K −$6.85/SF
NOI
$22.3K $8.38/SF
Area
Citrus County, FL
Vacancy
6.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$445,240
Cap Rate 7%
$318,029
Cap Rate 9%
$247,356
Alternative Uses
Best Use
Apartment 5plus
$318.0K
$278.3K – $371.0K
NOI $22,262 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$597.2K
$522.6K – $696.8K
NOI $41,807 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 34436, FL
7,901
Population
4,740
Households
1.7
Avg Household Size
58
Median Age
15%
College-Educated
88%
High-School Grad
55.1 sq mi
ZIP Area
143
Density / Sq Mi
$50,139
Median Household Income
$33,886
Median Earnings
$715
Median Rent
$201,400
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?
Multifamily property - Separate residences provide income-producing space with individual power meters, updated interiors, and access to fenced acreage.
Where is this multifamily property located?
The property is located at 7545 S Old Oaks Drive Floral City, 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: Three dwellings: 1400+ Sqft 3/2, 672 sqft 2/1, and 576 sqft 1/1; 2.11 acres of fenced land; Three separate power meters, one for each unit
