2023 Duplex with Screened Back
For Sale
$395,000
9198/9200 N PEACHTREE WAY, Citrus Springs, FL 34434
Block-built duplex with two 2-bedroom, 2-bath units and screened back porches, connected to county water.
Property Size2,284 SF
Price / SF$172.94
Days on Market50
Property Features for 9198/9200 N PEACHTREE WAY
General Information
Standard status
Active
Size
2,284 SF
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2023
Buildings
1
Construction
block
Tenancy
Multi
Listing Agency:
PARRISH REALTY GROUP INC
(352) 267-6046
Listed By:
Samantha Tillman · License #3605865
(904) 687-7876
Source:
Endlesssummerrealty
Added: Jul 27
Changed: Sep 13
Last Checked: Sep 13 at 9:13AM
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 PARRISH REALTY GROUP INC
Investment Insights
Based on property information with market context.
Built in 2023, this newer construction duplex at 9198/9200 N Peachtree Way in Citrus Springs, FL features solid block construction and two spacious 2-bedroom, 2-bath units. Each unit offers an open-concept layout with cathedral ceilings and includes a private primary suite with a walk-in shower. A guest bathroom with a tub/shower combination serves the main living area.
Both units have sliding glass doors that lead to a screened-in back porch, providing an indoor-outdoor space for relaxing or entertaining. The property is connected to county water, and each unit has its own separate septic system. There are no HOA restrictions.
With its well-designed, rental-friendly floor plans and practical separation of utilities, the duplex can support an investor strategy for rental income or an owner-occupant setup where one unit is lived in and the other is rented.
Both units have sliding glass doors that lead to a screened-in back porch, providing an indoor-outdoor space for relaxing or entertaining. The property is connected to county water, and each unit has its own separate septic system. There are no HOA restrictions.
With its well-designed, rental-friendly floor plans and practical separation of utilities, the duplex can support an investor strategy for rental income or an owner-occupant setup where one unit is lived in and the other is rented.
Key Highlights
- Built in 2023 duplex with solid block construction
- Two 2‑bedroom, 2‑bath units in an approximately 2,284 SF property
- Open‑concept layout with cathedral ceilings in 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
$20,850
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
5.28%
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%
$417,000
$417.0K
Cap Rate 7%
$297,857
$297.9K
Cap Rate 9%
$231,667
$231.7K
Market Conditions
NOI Build-Up for 2,284 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
$31.5K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$29.8K $13.04/SF
− OpEx
−$8.9K −$3.91/SF
NOI
$20.8K $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%
$417,000
Cap Rate 7%
$297,857
Cap Rate 9%
$231,667
Alternative Uses
Best Use
Multifamily LT 5
$297.9K
$260.6K – $347.5K
NOI $20,850 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$273.3K
$239.1K – $318.8K
NOI $19,129 @ 7.0% cap · market cap 4.84%
Theoretical Best
Specialty Retail
$513.2K
$449.1K – $598.8K
NOI $35,925 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
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
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 - Block-built duplex with two 2-bedroom, 2-bath units and screened back porches, connected to county water.
Where is this duplex located?
The property is located at 9198/9200 N PEACHTREE WAY Citrus Springs, FL.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Built in 2023 duplex with solid block construction; Two 2‑bedroom, 2‑bath units in an approximately 2,284 SF property; Open‑concept layout with cathedral ceilings in each unit
