Two-Unit Duplex with
New
For Sale
$520,000
9298 N MENDOZA WAY, Citrus Springs, FL 34434
Separate residences offer three-bedroom layouts, full bathrooms, and private garages for each side.
Property Size2,700 SF
Price / SF$192.59
Days on Market5
Property Features for 9298 N MENDOZA WAY
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Amenities
0.23 acres
Slate
Public Sewer
Additional parcels description:, Parcel Number: 18E-17S-10-0010-00690-0330, Public Survey Range: 18, Public Survey Section: 14, Annual Amount: $673, Tax Block: 69, Tax Book Number: 5-89, Legal Description: CITRUS SPGS UNIT 1 PB 5 PG 89 LOT 33 BLK 69, Lot: 33, Year: 2025, Zoning: PDR
2 spaces
Central Air
Central, Electric
Inside
Listing ID: MFRS5156485, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-31, 1 day on market, Special Conditions: None
9 total bedrooms
Built in 2026, Living area: 2700, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco, Frame
Subdivision: CITRUS SPGS UNIT 01, MLS Area (Major): 34434 - Dunnellon/Citrus Springs, County/Parish: Citrus
Completed
6 total bathrooms
Electricity Connected, Water Source: Public
Slab
Road Surface: Paved
Sidewalk
Living Room/Dining Room Combo
Building Details
Year Built
2026
Listing Agency:
LA ROSA REALTY KISSIMMEE
(407) 930-3530
Listed By:
Maria Fernan Castro, PA · License #3562614
Source:
Miharaandassociates
Added: Aug 31
Changed: Sep 3
Last Checked: Sep 2 at 3:02PM
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 LA ROSA REALTY KISSIMMEE
Investment Insights
Based on property information with market context.
Built in 2026, this duplex contains two independent residences with approximately 2,700 SqFt of combined living area. Each side provides approximately 1,350 SqFt, three bedrooms, two full bathrooms, and a private one-car garage. Together, the property includes six bedrooms, four bathrooms, and two garage spaces.
The property is located at 9298 N Mendoza Way in Citrus Springs, with access to shopping, dining, schools, recreation, everyday services, and major roadways. Its separate-unit layout supports distinct residential occupancy while retaining a single-property configuration. Buyers should independently verify dimensions, zoning, permitted use, condition, utilities, taxes, insurance, and other material property details.
The property is located at 9298 N Mendoza Way in Citrus Springs, with access to shopping, dining, schools, recreation, everyday services, and major roadways. Its separate-unit layout supports distinct residential occupancy while retaining a single-property configuration. Buyers should independently verify dimensions, zoning, permitted use, condition, utilities, taxes, insurance, and other material property details.
Key Highlights
- Two‑unit duplex built in 2026
- Approximately 2,700 SqFt of combined living area
- Each residence offers approximately 1,350 SqFt, 3 bedrooms, and 2 full bathrooms
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
$24,647
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
4.74%
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%
$492,940
$492.9K
Cap Rate 7%
$352,100
$352.1K
Cap Rate 9%
$273,856
$273.9K
Market Conditions
NOI Build-Up for 2,700 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
$37.3K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$35.2K $13.04/SF
− OpEx
−$10.6K −$3.91/SF
NOI
$24.6K $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%
$492,940
Cap Rate 7%
$352,100
Cap Rate 9%
$273,856
Alternative Uses
Best Use
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,647 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$323.1K
$282.7K – $376.9K
NOI $22,614 @ 7.0% cap · market cap 4.35%
Theoretical Best
Specialty Retail
$606.7K
$530.9K – $707.8K
NOI $42,468 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
53
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
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer three-bedroom layouts, full bathrooms, and private garages for each side.
Where is this duplex located?
The property is located at 9298 N MENDOZA WAY Citrus Springs, FL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2026; Approximately 2,700 SqFt of combined living area; Each residence offers approximately 1,350 SqFt, 3 bedrooms, and 2 full bathrooms
