New Two-Unit
For Sale
$429,900
Pending
9130 N MENDOZA Way, Citrus Springs, FL 34434
Residential Income, CITRUS SPRINGS, FL
Property Size2,370 SF
Lot Size0.23 Acres
Days on Market148
Property Features for 9130 N MENDOZA Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
PDR
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Family Room, Bedroom 3, Bedroom 4, Bedroom 6, Bathroom 3, Bathroom 1, Dining Room, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 1
Parking features
Driveway
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Wood Cabinets, Stone Counters, Thermostat, Walk-In Closet(s)
Exterior features
Lighting, Sidewalk
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
CITRUS SPGS UNIT 01
Directions
Head southeast on N Florida Ave Turn right onto W Country Club Blvd Turn right onto N Mendoza Way Destination will be on the left
Standard status
Pending
APN
18E-17S-10-0010-00690-0200
Size
2,370 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CITRUS SPGS UNIT 1 PB 5 PG 89 LOT 20 BLK 69
Tax Annual Amount
550
Legal Description
CITRUS SPGS UNIT 1 PB 5 PG 89 LOT 20 BLK 69
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
1
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
WRA BUSINESS & REAL ESTATE
(407) 512-1008
Listed By:
Vivian Luis Bernal · License #3631334
(863) 797-0527
Added: Apr 27
Changed: Sep 19
Last Checked: Sep 21 at 2:06AM
MLS# O6402847
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.
Investment Insights
Based on property information with market context.
Completed in 2025, this duplex provides 2,370 square feet across two residences with a combined six bedrooms and four full bathrooms. Both units use open living, dining, and kitchen arrangements, with solid wood cabinetry, stone countertops, and included ranges, refrigerators, microwaves, dishwashers, washers, and dryers. Primary bedrooms include walk-in closets, while additional bedrooms offer built-in storage. Block and stucco construction, shingle roofing, central heating, and central air support the property’s core building systems. Each residence also includes a porch and driveway parking.
The property occupies 0.23 acres in Citrus Springs and is identified with PDR zoning. Public water and public sewer serve the site. Access to a main road and proximity to schools are also noted, supporting convenient daily travel for occupants.
The property occupies 0.23 acres in Citrus Springs and is identified with PDR zoning. Public water and public sewer serve the site. Access to a main road and proximity to schools are also noted, supporting convenient daily travel for occupants.
Key Highlights
- Duplex with 2,370 square feet, 6 bedrooms, and 4 full bathrooms
- Built in 2025 on 0.23 acres
- PDR zoning designation
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
$21,635
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
5.03%
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%
$432,700
$432.7K
Cap Rate 7%
$309,071
$309.1K
Cap Rate 9%
$240,389
$240.4K
Market Conditions
NOI Build-Up for 2,370 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
$32.7K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.9K $13.04/SF
− OpEx
−$9.3K −$3.91/SF
NOI
$21.6K $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%
$432,700
Cap Rate 7%
$309,071
Cap Rate 9%
$240,389
Alternative Uses
Best Use
Multifamily LT 5
$309.1K
$270.4K – $360.6K
NOI $21,635 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$283.6K
$248.1K – $330.8K
NOI $19,850 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$532.5K
$466.0K – $621.3K
NOI $37,277 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 34434, FL
9,582
Population
4,559
Households
2.1
Avg Household Size
47
Median Age
17%
College-Educated
90%
High-School Grad
26.3 sq mi
ZIP Area
364
Density / Sq Mi
$56,553
Median Household Income
$35,245
Median Earnings
$1,226
Median Rent
$211,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Open-plan residences feature stone counters, solid wood cabinetry, and included appliances.
Where is this duplex located?
The property is located at 9130 N MENDOZA Way Citrus Springs, FL.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Duplex with 2,370 square feet, 6 bedrooms, and 4 full bathrooms; Built in 2025 on 0.23 acres; PDR zoning designation
