Four-Unit Detached Quadplex
For Sale
Under Contract
$695,000
454 LAKEPORT Cove, Casselberry, FL 32707
Residential Income, CASSELBERRY, FL
Property Size4,040 SF
Lot Size0.85 Acres
Price / SF$172.03
Days on Market159
Property Features for 454 LAKEPORT Cove
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R-9
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 8, Bathroom 5, Bedroom 6, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 7, Bathroom 2, Bedroom 3
Window features
Blinds
Subdivision
CENTRAL PARK ADD
Lot features
City Limits, Paved
Elementary school
Casselberry Elementary
Middle school
Milwee Middle
High school
Winter Springs High
Directions
Seminole Blvd to Lakeport Cove.
Standard status
Active Under Contract
APN
08-21-30-501-0000-001A
Size
4,040 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PT OF LOT 1 DESC AS BEG NW COR OF S 100 FT OF N 200 FT RUN E 377.55 FT S 100 FT W TO W LI OF LOT 1 NWLY ON W LI TO BEG (LESS BEG 208.35 FT E OF NW COR RUN S 8.94 FT E 33 FT N 8.94 FT W 33 FT TO BEG) ADD TO CENTRAL PARK PB 7 PG 9
Tax Annual Amount
9907
Legal Description
PT OF LOT 1 DESC AS BEG NW COR OF S 100 FT OF N 200 FT RUN E 377.55 FT S 100 FT W TO W LI OF LOT 1 NWLY ON W LI TO BEG (LESS BEG 208.35 FT E OF NW COR RUN S 8.94 FT E 33 FT N 8.94 FT W 33 FT TO BEG) ADD TO CENTRAL PARK PB 7 PG 9
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1948
Building materials
Block
Roof type
Shingle
Listing Agency:
JULIAN PROPERTIES, INC.
(407) 291-4900
Listed By:
Bo Julian · License #641125
(407) 694-5843
Added: Mar 30
Changed: Sep 2
Last Checked: Sep 4 at 11:06AM
MLS# O6393398
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.
This quadplex comprises four detached rental homes totaling 4,040 square feet on a 0.85-acre parcel. The residences feature block construction, shingle roofs, central heating, and central air conditioning. The property was built in 1948, and the roofs are approximately 4 years old.
Located at 454 Lakeport Cove in Casselberry, the property is served by public water and public sewer. Zoning is R-9, with cable available. The four-home layout provides a distinct residential income configuration across a substantial land area.
Located at 454 Lakeport Cove in Casselberry, the property is served by public water and public sewer. Zoning is R-9, with cable available. The four-home layout provides a distinct residential income configuration across a substantial land area.
Key Highlights
- Four detached rental homes on one property
- 4,040 square feet situated on 0.85 acres
- Block construction with shingle roofs
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
$53,884
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
7.75%
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%
$1,077,680
$1.1M
Cap Rate 7%
$769,771
$769.8K
Cap Rate 9%
$598,711
$598.7K
Market Conditions
NOI Build-Up for 4,040 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
$82.4K $20.40/SF
− Vacancy
−$5.4K −$1.35/SF
EGI
$77.0K $19.05/SF
− OpEx
−$23.1K −$5.72/SF
NOI
$53.9K $13.34/SF
Area
Seminole County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$1,077,680
Cap Rate 7%
$769,771
Cap Rate 9%
$598,711
Alternative Uses
Best Use
Multifamily LT 5
$769.8K
$673.6K – $898.1K
NOI $53,884 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$708.7K
$620.2K – $826.9K
NOI $49,612 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,477 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 32707, FL
37,704
Population
17,499
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
92%
High-School Grad
9.6 sq mi
ZIP Area
3,928
Density / Sq Mi
$66,780
Median Household Income
$40,280
Median Earnings
$1,573
Median Rent
$305,000
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?
Quadplex - Four separate rental residences occupy a masonry-built property with central systems and public water and sewer service.
Where is this quadplex located?
The property is located at 454 LAKEPORT Cove Casselberry, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four detached rental homes on one property; 4,040 square feet situated on 0.85 acres; Block construction with shingle roofs
