New Construction
New
For Sale
$750,000
644 and 646 E FRANKLIN Street, Oviedo, FL 32765
MULTI_FAMILY - OVIEDO, FL
Property Size3,016 SF
Lot Size0.39 Acres
Price / SF$248.67
Days on Market3
Property Features for 644 and 646 E FRANKLIN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
R-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 5, Bathroom 3, Bathroom 4, Dining Room, Bathroom 1, Bathroom 2, Family Room, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 1
Parking features
Open
Patio and Porch features
Porch
Interior features
Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Walk-In Closet(s)
Exterior features
Sliding Doors
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
LEES 1ST ADD TO OVIEDO
Elementary school
Lawton Elementary
Middle school
Jackson Heights Middle
High school
Oviedo High
Directions
From East Broadway St, Head toward Oviedo Blvd, Turn left onto Oviedo Blvd, At the traffic circle, take the 1st exit onto N County Rd 426, Turn right onto E Franklin St, Property will be on the right.
Standard status
Active
APN
10-21-31-512-0000-012C
Size
3,016 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT OF LOT 12 DESC AS BEG 200 FT W OF NE COR RUN S 168.11 FT W 104.93 FT N 168.50 FT E TO BEG C S LEES 1ST ADD TO OVIEDO PB 2 PG 112
Tax Annual Amount
766
Legal Description
PT OF LOT 12 DESC AS BEG 200 FT W OF NE COR RUN S 168.11 FT W 104.93 FT N 168.50 FT E TO BEG C S LEES 1ST ADD TO OVIEDO PB 2 PG 112
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
covered back porch
Building Details
Year built
2026
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
EMPIRE NETWORK REALTY
(407) 440-3798
Listed By:
Edmundo Gouveia Tavares
(407) 901-1011
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 9 at 6:06AM
MLS# O6430042
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 under-construction duplex will provide 3,016 square feet across two separately metered residences. Each 1,508-square-foot unit is designed with three bedrooms, two full bathrooms, an open connection between the family room, dining area, and kitchen, walk-in closets, and a covered rear porch. Each side also includes an attached 2-car garage and an oversized driveway. Block construction, vinyl flooring, central heating and cooling, public water, and public sewer are specified for the property. The planned 2026 build is zoned R-2.
The property is located at 644 and 646 E FRANKLIN Street in Oviedo, near downtown parks, dining, and shopping. SR 434, SR 426, UCF, Research Park, Oviedo on the Park, and Oviedo Medical Center are accessible from the site. School assignments listed for the property include Lawton Elementary, Jackson Heights Middle, and Oviedo High School.
The property is located at 644 and 646 E FRANKLIN Street in Oviedo, near downtown parks, dining, and shopping. SR 434, SR 426, UCF, Research Park, Oviedo on the Park, and Oviedo Medical Center are accessible from the site. School assignments listed for the property include Lawton Elementary, Jackson Heights Middle, and Oviedo High School.
Key Highlights
- Duplex totaling 3,016 square feet on 0.39 acres
- Each unit measures 1,508 square feet with 3 bedrooms and 2 full bathrooms
- Both residences are separately metered
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
$40,226
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
5.36%
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%
$804,520
$804.5K
Cap Rate 7%
$574,657
$574.7K
Cap Rate 9%
$446,956
$447.0K
Market Conditions
NOI Build-Up for 3,016 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
$61.5K $20.40/SF
− Vacancy
−$4.1K −$1.35/SF
EGI
$57.5K $19.05/SF
− OpEx
−$17.2K −$5.72/SF
NOI
$40.2K $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%
$804,520
Cap Rate 7%
$574,657
Cap Rate 9%
$446,956
Alternative Uses
Best Use
Multifamily LT 5
$574.7K
$502.8K – $670.4K
NOI $40,226 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$529.1K
$463.0K – $617.3K
NOI $37,037 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$858.3K
$751.0K – $1.00M
NOI $60,079 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 32765, FL
65,228
Population
23,389
Households
2.8
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
39.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$99,161
Median Household Income
$48,595
Median Earnings
$1,870
Median Rent
$418,600
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 separately metered residences offer three bedrooms, two full bathrooms, and attached garages.
Where is this duplex located?
The property is located at 644 and 646 E FRANKLIN Street Oviedo, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Duplex totaling 3,016 square feet on 0.39 acres; Each unit measures 1,508 square feet with 3 bedrooms and 2 full bathrooms; Both residences are separately metered
