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9239 N PATCH DRIVE
About This Property
Discover the untapped potential of East Citrus Springs – a growing area that still offers room to build and breathe. This property is ideally located just 20 minutes from Ocala and only 15 minutes to downtown Hernando, providing quick access to shopping, dining, and essential services in either direction.
Nestled within a Planned Development Residential (PDR) zoning district, this site offers great flexibility and future value. PDR zoning is designed to encourage well-planned, cohesive neighborhoods while allowing for a mix of residential options and green spaces. Specific zoning regulations can be found in the Citrus County zoning ordinance (note: PDR applies to Citrus County, not Ocala city zoning).
Whether you're looking to build your dream home or make a solid land investment, this is an excellent opportunity in a location poised for continued growth - before the area becomes overbuilt.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017