Updated Condo in Gated
For Sale
$199,900
13003 PLANTATION PARK Cir 1323, Orlando, FL 32821
Updated 2-bedroom condo with solarium and resort-style amenities.
Property Size1,007 SF
Price / SF$198.51
Days on Market160
Property Features for 13003 PLANTATION PARK Cir 1323
General Information
Standard status
Active
Size
1,007 SF
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$3,139
Building Details
Building Size
1,007 SF
Year Built
1996
Stories
3
Listing Agency:
(952) 210-7492
Listed By:
Dan Graves
(952) 210-7492
Source:
Elliman
Added: Mar 23
Changed: Aug 17
Last Checked: Aug 29 at 10:45AM
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 Dan Graves
Investment Insights
Based on property information with market context.
This updated 2-bedroom, 2-bath condo is located on the second floor within the gated Plantation Park community. The 1,007 sq ft unit features new interior paint and brand-new carpet. The kitchen includes white cabinetry with granite countertops and a tile backsplash. A full-size washer and dryer are located within the unit. The property includes a solarium suitable for a home office, sitting area, or additional living space. Plantation Park offers amenities such as a clubhouse, fitness center, swimming pool, tennis court, and racquetball court, as well as maintained grounds with walking paths and green space. The location provides convenient access to major roads, shopping, dining, and theme parks, making it suitable for full-time living, seasonal use, or investment.
Key Highlights
- Updated 2‑bedroom, 2‑bath condo in gated Plantation Park community.
- Enjoy resort‑style amenities including a clubhouse, fitness center, pool, tennis, and racquetball.
- Features new interior paint, brand‑new carpet, granite countertops, and tile backsplash.
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
$13,050
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
6.53%
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%
$261,000
$261.0K
Cap Rate 7%
$186,429
$186.4K
Cap Rate 9%
$145,000
$145.0K
Market Conditions
NOI Build-Up for 1,007 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
$25.4K $25.20/SF
− Vacancy
−$1.6K −$1.64/SF
EGI
$23.7K $23.56/SF
− OpEx
−$10.7K −$10.60/SF
NOI
$13.0K $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%
$261,000
Cap Rate 7%
$186,429
Cap Rate 9%
$145,000
Alternative Uses
Best Use
Apartment 5plus
$186.4K
$163.1K – $217.5K
NOI $13,050 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.4K
$283.8K – $378.5K
NOI $22,707 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 32821, FL
25,999
Population
15,061
Households
1.7
Avg Household Size
33
Median Age
44%
College-Educated
95%
High-School Grad
16.3 sq mi
ZIP Area
1,595
Density / Sq Mi
$59,927
Median Household Income
$39,230
Median Earnings
$1,782
Median Rent
$300,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated 2-bedroom condo with solarium and resort-style amenities.
Where is this residential income property located?
The property is located at 13003 PLANTATION PARK Cir 1323 Orlando, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Updated 2‑bedroom, 2‑bath condo in gated Plantation Park community.; Enjoy resort‑style amenities including a clubhouse, fitness center, pool, tennis, and racquetball.; Features new interior paint, brand‑new carpet, granite countertops, and tile backsplash.
