Duplex with
New
For Sale
$660,000
1016 ARAGON Avenue, Winter Park, FL 32789
Residential, WINTER PARK, FL
Property Size1,840 SF
Lot Size0.16 Acres
Price / SF$358.70
Days on Market3
Property Features for 1016 ARAGON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 2, Bathroom 4, Dining Room, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1
Window features
Blinds, Skylight(s), Aluminum Frames
Patio and Porch features
Patio
Pool private
1
Interior features
Ceiling Fans(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor
Exterior features
Courtyard, Private Entrance, Sidewalk
Fencing
Fenced
Accessibility
Accessible Approach with Ramp
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
SEVILLE PARK
Lot features
City Limits, Sidewalk, Street Brick
Elementary school
Audubon Park K8
Middle school
Glenridge Middle
High school
Winter Park High
Directions
From Lee Rd, turn right on S. Orlando Ave, Left on Aragon. From S Park Ave, turn right on W Fairbanks Ave, left on Orange Ave, right on Aragon.
Standard status
Active
APN
12-22-29-7940-02-160
Size
1,840 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEVILLE PARK K/47 LOT 16 BLK B
Tax Annual Amount
2228
Legal Description
SEVILLE PARK K/47 LOT 16 BLK B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
1
Flooring type
Tile
Building materials
Block
Roof type
Metal
Additional Structures
Storage
Listing Agency:
PALMANO GROUP RE BROKERAGE LLC
(321) 214-1211
Listed By:
Pam Stewart
(407) 923-2999
Added: Aug 23
Changed: Aug 24
Last Checked: Aug 25 at 4:06AM
MLS# O6433576
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 1,840-square-foot duplex sits on a 0.16-acre lot and was built in 1983. The property contains two residential units, each arranged with two bedrooms, a Jack-and-Jill bathroom, and a half bath. Combined, the building offers four bedrooms, two full bathrooms, and two half bathrooms. Interior features include tile flooring, central air, electric central heating, ceiling fans, and living room/dining room combinations. Kitchens include dishwashers, microwaves, ranges, refrigerators, washers, and dryers.
Exterior improvements include a courtyard, patio, fencing, sidewalks, and private entrances. The building is constructed of block, has a metal roof, and is served by public water and public sewer. R-2 zoning applies. The property is near shopping, restaurants, downtown Winter Park, Rollins College, and Mead Gardens.
Exterior improvements include a courtyard, patio, fencing, sidewalks, and private entrances. The building is constructed of block, has a metal roof, and is served by public water and public sewer. R-2 zoning applies. The property is near shopping, restaurants, downtown Winter Park, Rollins College, and Mead Gardens.
Key Highlights
- Two‑unit duplex with 1,840 square feet of building area
- Four bedrooms, two full baths, and two half baths
- Each unit includes two bedrooms, a Jack‑and‑Jill bathroom, and a half bath
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
$24,541
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
3.72%
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%
$490,820
$490.8K
Cap Rate 7%
$350,586
$350.6K
Cap Rate 9%
$272,678
$272.7K
Market Conditions
NOI Build-Up for 1,840 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
$37.5K $20.40/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$35.1K $19.05/SF
− OpEx
−$10.5K −$5.72/SF
NOI
$24.5K $13.34/SF
Area
Orange 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%
$490,820
Cap Rate 7%
$350,586
Cap Rate 9%
$272,678
Alternative Uses
Best Use
Multifamily LT 5
$350.6K
$306.8K – $409.0K
NOI $24,541 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$322.8K
$282.5K – $376.6K
NOI $22,596 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$523.6K
$458.2K – $610.9K
NOI $36,653 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,007
Businesses Nearby
Explore this area
Business Placement
Demographics for 32789, FL
26,399
Population
12,945
Households
2
Avg Household Size
44
Median Age
63%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
3,384
Density / Sq Mi
$100,213
Median Household Income
$65,652
Median Earnings
$1,667
Median Rent
$695,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Four-bedroom configuration with two full baths, two half baths, and separate living spaces.
Where is this duplex located?
The property is located at 1016 ARAGON Avenue Winter Park, FL.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,840 square feet of building area; Four bedrooms, two full baths, and two half baths; Each unit includes two bedrooms, a Jack‑and‑Jill bathroom, and a half bath
