Half-Duplex With Two-Car
For Sale
$289,000
Pending
1064 OLD MAGNOLIA COVE Drive, Apopka, FL 32712
Residential, APOPKA, FL
Property Size1,868 SF
Lot Size0.16 Acres
Days on Market74
Property Features for 1064 OLD MAGNOLIA COVE Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMF
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Pets allowed
Dogs OK
Interior features
Ceiling Fans(s)
Appliances
Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
ERROL ESTATE
Directions
From Errol parkway turn left onto Lake Alden, then left onto Old Magnolia Cove , Home is on the right.
Standard status
Pending
APN
31-20-28-2532-00-080
Size
1,868 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ERROL ESTATE UNIT 7 8/133 LOT 8
Tax Annual Amount
4019
Legal Description
ERROL ESTATE UNIT 7 8/133 LOT 8
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1980
Floors in Building
1
Flooring type
Carpet, Tile
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
BETTER HOMES AND GARDENS REAL ESTATE MANN GLOBAL P
(407) 774-9858
Listed By:
Greg Mann
(407) 435-0826
Added: Jun 24
Changed: Sep 3
Last Checked: Sep 5 at 5:06AM
MLS# O6419618
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 half-duplex contains 1,868 square feet with two bedrooms and two bathrooms, including a primary suite with its own bath and closet space. The interior combines tile and carpet flooring with central heating and cooling, ceiling fans, and a kitchen equipped with a dishwasher, disposal, microwave, range, refrigerator, washer, and dryer. Block and stucco construction, a shingle roof, and public sewer service are also in place.
The property includes a two-car garage, laundry area, and driveway parking on a 0.16-acre lot. Built in 1980, it is zoned RMF and located at 1064 Old Magnolia Cove Drive in Apopka, Florida. Schools, parks, shopping, and major commuter routes are identified in the surrounding area.
The property includes a two-car garage, laundry area, and driveway parking on a 0.16-acre lot. Built in 1980, it is zoned RMF and located at 1064 Old Magnolia Cove Drive in Apopka, Florida. Schools, parks, shopping, and major commuter routes are identified in the surrounding area.
Key Highlights
- 1,868‑square‑foot half‑duplex with 2 bedrooms and 2 bathrooms
- Two‑car garage plus driveway parking and laundry area
- Primary suite includes a private bathroom and closet space
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
$24,914
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
8.62%
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%
$498,280
$498.3K
Cap Rate 7%
$355,914
$355.9K
Cap Rate 9%
$276,822
$276.8K
Market Conditions
NOI Build-Up for 1,868 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
$38.1K $20.40/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$35.6K $19.05/SF
− OpEx
−$10.7K −$5.72/SF
NOI
$24.9K $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%
$498,280
Cap Rate 7%
$355,914
Cap Rate 9%
$276,822
Alternative Uses
Best Use
Multifamily LT 5
$355.9K
$311.4K – $415.2K
NOI $24,914 @ 7.0% cap · market cap 8.62%
Second Best
Apartment 5plus
$327.7K
$286.8K – $382.3K
NOI $22,940 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$531.6K
$465.1K – $620.2K
NOI $37,211 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 32712, FL
50,085
Population
17,601
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
90%
High-School Grad
71.5 sq mi
ZIP Area
700
Density / Sq Mi
$106,264
Median Household Income
$47,049
Median Earnings
$1,995
Median Rent
$389,900
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 - Functional residential layout with private suite, flexible second bedroom, garage storage, and additional driveway parking.
Where is this duplex located?
The property is located at 1064 OLD MAGNOLIA COVE Drive Apopka, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 1,868‑square‑foot half‑duplex with 2 bedrooms and 2 bathrooms; Two‑car garage plus driveway parking and laundry area; Primary suite includes a private bathroom and closet space
