Updated Duplex with Private
New
For Sale
$499,900
787 LINCOLN Parkway, Oviedo, FL 32765
MULTI_FAMILY - OVIEDO, FL
Property Size1,872 SF
Lot Size0.27 Acres
Price / SF$267.04
Days on Market7
Property Features for 787 LINCOLN Parkway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking features
Driveway
Window features
Blinds
Interior features
Ceiling Fans(s), Thermostat, Window Treatments
Exterior features
Private Yard
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
LINCOLN PARK
Elementary school
Lawton Elementary
Middle school
Jackson Heights Middle
High school
Oviedo High
Directions
From 417 and Mitchel Hammock Rd, travel East. Take an immediate Left on SR426/W. Broadway St. Right Oviedo Mall Blvd. Left on Aulin Ave. Left on Lincoln Pkwy. Turn Right onto small road between 795 Lincoln Pkwy and 811 Lincoln Pkwy. Duplex is behind 795 and on the right side.
Standard status
Active
APN
16-21-31-503-0A00-003A
Size
1,872 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 3 & 4 (LESS S 95 FT) & VACD ST ADJ ON N BLK A LINCOLN PARK PB 7 PG 93
Tax Annual Amount
5510
Legal Description
LOTS 3 & 4 (LESS S 95 FT) & VACD ST ADJ ON N BLK A LINCOLN PARK PB 7 PG 93
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
laundry inside units
Building Details
Year built
1988
Flooring type
Tile - Ceramic
Building materials
Block, Brick, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ADVANTAGE REALTY · Keller Williams Realty
(407) 977-7600
Listed By:
Sandy Jablonski
(407) 952-0372
Added: Aug 8
Changed: Aug 14
Last Checked: Aug 14 at 3:06PM
MLS# O6432128
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 1988 duplex contains two matching residences, each with two bedrooms, two bathrooms, and 936 SF of interior space. Combined building area is 1872 square feet. Both units include interior laundry, ceramic tile flooring, central air, heat-pump heating, kitchen appliances, and driveway parking. The property also offers a private yard and block, brick, and stucco construction.
The duplex is located at 787 Lincoln Parkway in Oviedo’s Lincoln Park section, on a 0.27-acre parcel with access from a private road between neighboring duplexes. The setting has no through traffic and is near major expressways, shopping, and Oviedo Mall. Public water serves the property, with septic tank sewer service, and zoning is R-2.
Recent capital work includes drain fields completed in 2023, AC updates in 2024 and 2018, ductwork installed in 2021, plumbing repiped in 2022, and one hot water tank replaced in 2024. A new roof is planned before closing.
The duplex is located at 787 Lincoln Parkway in Oviedo’s Lincoln Park section, on a 0.27-acre parcel with access from a private road between neighboring duplexes. The setting has no through traffic and is near major expressways, shopping, and Oviedo Mall. Public water serves the property, with septic tank sewer service, and zoning is R-2.
Recent capital work includes drain fields completed in 2023, AC updates in 2024 and 2018, ductwork installed in 2021, plumbing repiped in 2022, and one hot water tank replaced in 2024. A new roof is planned before closing.
Key Highlights
- Two 2‑bedroom, 2‑bath units; each unit measures 936 SF
- 1872 square feet total building area on a 0.27‑acre parcel
- R‑2 zoning with public water and septic tank sewer service
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
$24,968
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
4.99%
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%
$499,360
$499.4K
Cap Rate 7%
$356,686
$356.7K
Cap Rate 9%
$277,422
$277.4K
Market Conditions
NOI Build-Up for 1,872 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
$38.2K $20.40/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$35.7K $19.05/SF
− OpEx
−$10.7K −$5.72/SF
NOI
$25.0K $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%
$499,360
Cap Rate 7%
$356,686
Cap Rate 9%
$277,422
Alternative Uses
Best Use
Multifamily LT 5
$356.7K
$312.1K – $416.1K
NOI $24,968 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$328.4K
$287.4K – $383.2K
NOI $22,989 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$532.7K
$466.1K – $621.5K
NOI $37,290 @ 7.0% cap · market cap 7.46%
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
Paved road access
Location Intelligence
Trade Area within ½ mile
1,161
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 matching units provide private laundry, ceramic tile, driveway parking, and a residential setting near shopping and major expressways.
Where is this duplex located?
The property is located at 787 LINCOLN Parkway Oviedo, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bath units; each unit measures 936 SF; 1872 square feet total building area on a 0.27‑acre parcel; R‑2 zoning with public water and septic tank sewer service
