Two-Home Duplex
For Sale
$425,000
Pending
401 S HOLLY AVENUE, Sanford, FL 32771
Two detached residences feature separate utility meters, current tenants, and no HOA.
Property Size2,536 SF
Lot Size0.27 Acres
Days on Market474
Property Features for 401 S HOLLY AVENUE
General Information
Standard status
Pending
Size
2,536 SF
Lot size
0.27 Acres
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,832
Building Details
Year Built
1945
Buildings
2
Listing Agency:
FLORIDA REALTY MARKETPLACE
(863) 866-0335
Listed By:
Jenn Manzella · License #3383985
(863) 866-0335
Source:
Exitrealty
Added: May 15, 2025
Changed: Aug 31
Last Checked: Aug 31 at 4:06PM
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 FLORIDA REALTY MARKETPLACE
Investment Insights
Based on property information with market context.
This duplex-style property comprises two detached single-family residences on a 0.27-acre lot. The combined property measures 2,536 SF and was built in 1945. Each home includes three bedrooms and one bathroom, while one residence also has a wood-burning fireplace. Both structures received 2021 roofs, and separate utility meters support distinct service management.
The homes are located at 401 S Holly Avenue in Sanford, approximately half a mile from Historic Downtown Sanford and 20 minutes north of Orlando. Downtown amenities include restaurants, breweries, gastropubs, boutique shopping, concerts, events, and a weekly farmers market. The property is tenant-occupied, with one residence occupied since 2021 and the other since 2023. There is no HOA.
The homes are located at 401 S Holly Avenue in Sanford, approximately half a mile from Historic Downtown Sanford and 20 minutes north of Orlando. Downtown amenities include restaurants, breweries, gastropubs, boutique shopping, concerts, events, and a weekly farmers market. The property is tenant-occupied, with one residence occupied since 2021 and the other since 2023. There is no HOA.
Key Highlights
- Two detached single‑family homes on a 0.27‑acre lot
- Combined property size of 2,536 SF; built in 1945
- Each residence offers 3 bedrooms and 1 bathroom
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
$33,824
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
7.96%
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%
$676,480
$676.5K
Cap Rate 7%
$483,200
$483.2K
Cap Rate 9%
$375,822
$375.8K
Market Conditions
NOI Build-Up for 2,536 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
$51.7K $20.40/SF
− Vacancy
−$3.4K −$1.35/SF
EGI
$48.3K $19.05/SF
− OpEx
−$14.5K −$5.72/SF
NOI
$33.8K $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%
$676,480
Cap Rate 7%
$483,200
Cap Rate 9%
$375,822
Alternative Uses
Best Use
Multifamily LT 5
$483.2K
$422.8K – $563.7K
NOI $33,824 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$444.9K
$389.3K – $519.1K
NOI $31,143 @ 7.0% cap · market cap 7.33%
Theoretical Best
Office A
$721.7K
$631.5K – $842.0K
NOI $50,517 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
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 detached residences feature separate utility meters, current tenants, and no HOA.
Where is this duplex located?
The property is located at 401 S HOLLY AVENUE Sanford, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two detached single‑family homes on a 0.27‑acre lot; Combined property size of 2,536 SF; built in 1945; Each residence offers 3 bedrooms and 1 bathroom
