Updated Two-Bedroom Half
For Sale
$255,000
12237 EASTCOVE DRIVE, Orlando, FL 32826
Single-story layout with private backyard, two-bath configuration, updated systems, and attached exterior storage.
Property Size837 SF
Price / SF$304.66
Days on Market14
Property Features for 12237 EASTCOVE DRIVE
General Information
Standard status
Active
Size
837 SF
Total Parking Spaces
2
Property subtype
Half Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
interior laundry closet
sliding glass doors
patio
attached exterior storage
Building Details
Year Built
1982
Stories
1
Listing Agency:
KELLER WILLIAMS ADVANTAGE REALTY
(407) 977-7600
Listed By:
Stacie Brown Kelly · License #692835
(407) 221-4954
Source:
Dennisrealty
Added: Sep 10
Changed: Sep 21
Last Checked: Sep 22 at 4:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS ADVANTAGE REALTY
Investment Insights
Based on property information with market context.
This single-story half duplex at 12237 Eastcove Drive includes 837 square feet, two bedrooms, and two bathrooms within a practical residential layout. The living area features vaulted ceilings, wood-look flooring, and a kitchen pass-through. The eat-in kitchen includes white Shaker-style cabinetry, stainless steel appliances, a pantry, and sliding-door access to the yard. A primary suite, second full bathroom, interior laundry closet, and two-car parking pad add everyday functionality.
Outdoor space includes a private backyard with a patio, paver area, grassy lawn, mature greenery, and attached exterior storage. Improvements include replaced ductwork, an updated electrical panel, refreshed bathroom vanities and toilets, and a washer and dryer replaced within the last two years. Built in 1982, the property is in University Place in East Orlando, near UCF, Central Florida Research Park, Valencia College’s East Campus, Waterford Lakes Town Center, Blanchard Park, and the Little Econ Greenway. Access to Alafaya Trail, SR 408, and SR 417 connects the property with downtown Orlando and the broader Central Florida area.
Outdoor space includes a private backyard with a patio, paver area, grassy lawn, mature greenery, and attached exterior storage. Improvements include replaced ductwork, an updated electrical panel, refreshed bathroom vanities and toilets, and a washer and dryer replaced within the last two years. Built in 1982, the property is in University Place in East Orlando, near UCF, Central Florida Research Park, Valencia College’s East Campus, Waterford Lakes Town Center, Blanchard Park, and the Little Econ Greenway. Access to Alafaya Trail, SR 408, and SR 417 connects the property with downtown Orlando and the broader Central Florida area.
Key Highlights
- Two‑bedroom, two‑bath half duplex with 837 square feet
- Single‑story layout with vaulted ceilings and wood‑look flooring
- Private backyard with patio, paver area, grassy lawn, and mature greenery
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
$10,847
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
4.25%
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%
$216,940
$216.9K
Cap Rate 7%
$154,957
$155.0K
Cap Rate 9%
$120,522
$120.5K
Market Conditions
NOI Build-Up for 837 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
$21.1K $25.20/SF
− Vacancy
−$1.4K −$1.64/SF
EGI
$19.7K $23.56/SF
− OpEx
−$8.9K −$10.60/SF
NOI
$10.8K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$216,940
Cap Rate 7%
$154,957
Cap Rate 9%
$120,522
Alternative Uses
Best Use
Apartment 5plus
$155.0K
$135.6K – $180.8K
NOI $10,847 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$269.6K
$235.9K – $314.6K
NOI $18,874 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
440
Businesses Nearby
Explore this area
Business Placement
Demographics for 32826, FL
33,065
Population
10,714
Households
3.1
Avg Household Size
25
Median Age
34%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
4,529
Density / Sq Mi
$61,784
Median Household Income
$27,066
Median Earnings
$1,478
Median Rent
$224,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-story layout with private backyard, two-bath configuration, updated systems, and attached exterior storage.
Where is this residential income property located?
The property is located at 12237 EASTCOVE DRIVE Orlando, FL.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath half duplex with 837 square feet; Single‑story layout with vaulted ceilings and wood‑look flooring; Private backyard with patio, paver area, grassy lawn, and mature greenery
