Occupied Duplex with Private
For Sale
$409,900
934 S APOPKA AVENUE, Inverness, FL 34452
Two occupied residences feature central air, heat pumps, open layouts, and separate private entrances.
Property Size2,104 SF
Price / SF$194.82
Days on Market162
Property Features for 934 S APOPKA AVENUE
General Information
Standard status
Active
Size
2,104 SF
Property subtype
Residential Income
Zoning
MDR
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$141
Amenities
Central Air
Heat Pump
Open Floorplan
Private Entrance
Building Details
Year Built
2024
Tenancy
Multi
Listing Agency:
ERA AMERICAN SUNCOAST REALTY
(609) 214-9963
Listed By:
Geri Gaugler · License #3429614
(609) 214-9963
Source:
Evrealestate
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 30 at 3:16PM
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 ERA AMERICAN SUNCOAST REALTY
Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains 2,104 square feet with two occupied residences. The property includes central air, heat pumps, open floorplans, and private entrances for each side. Current lease end dates are 04/30/2027 for 934 and 5/31/2027 for 936.
Located at 934 S Apopka Avenue in Inverness, the property is zoned MDR and situated in Citrus County. Both sides are currently occupied, providing an existing residential income configuration for an owner or investor. The property also includes access to a keypad-controlled showing process.
Located at 934 S Apopka Avenue in Inverness, the property is zoned MDR and situated in Citrus County. Both sides are currently occupied, providing an existing residential income configuration for an owner or investor. The property also includes access to a keypad-controlled showing process.
Key Highlights
- 2024‑built duplex with 2,104 square feet
- Both sides currently occupied
- Lease end dates: 04/30/2027 for 934 and 5/31/2027 for 936
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
$19,207
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
4.69%
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%
$384,140
$384.1K
Cap Rate 7%
$274,386
$274.4K
Cap Rate 9%
$213,411
$213.4K
Market Conditions
NOI Build-Up for 2,104 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
$29.0K $13.80/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$27.4K $13.04/SF
− OpEx
−$8.2K −$3.91/SF
NOI
$19.2K $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%
$384,140
Cap Rate 7%
$274,386
Cap Rate 9%
$213,411
Alternative Uses
Best Use
Multifamily LT 5
$274.4K
$240.1K – $320.1K
NOI $19,207 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$251.7K
$220.3K – $293.7K
NOI $17,622 @ 7.0% cap · market cap 4.30%
Theoretical Best
Specialty Retail
$472.8K
$413.7K – $551.6K
NOI $33,094 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 34452, FL
12,405
Population
6,353
Households
2
Avg Household Size
51
Median Age
14%
College-Educated
92%
High-School Grad
58.9 sq mi
ZIP Area
211
Density / Sq Mi
$58,199
Median Household Income
$39,339
Median Earnings
$1,182
Median Rent
$207,200
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 - Two occupied residences feature central air, heat pumps, open layouts, and separate private entrances.
Where is this duplex located?
The property is located at 934 S APOPKA AVENUE Inverness, FL.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: 2024‑built duplex with 2,104 square feet; Both sides currently occupied; Lease end dates: 04/30/2027 for 934 and 5/31/2027 for 936
