Renovated Duplex on Corner
For Sale
Under Contract
$435,000
134 JEWEL Drive, Altamonte Springs, FL 32714
Residential Income, ALTAMONTE SPRINGS, FL
Property Size1,940 SF
Lot Size0.17 Acres
Price / SF$224.23
Days on Market114
Property Features for 134 JEWEL Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1
Window features
Double Pane Windows
Interior features
Ceiling Fans(s)
Exterior features
Storage
Subdivision
PEARL LAKE HEIGHTS 1ST ADD
Elementary school
Forest City Elementary
Middle school
Teague Middle
High school
Lake Brantley High
Directions
Head west on sr-436 from sr-434/436 intersection. Right on Jewel drive. Home is corner lot on your right.
Standard status
Active Under Contract
APN
17-21-29-501-0D00-0010
Size
1,940 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 73.75 FT OF LOT 1 BLK D PEARL LAKE HEIGHTS 1ST ADD PB 8 PG 60
Tax Annual Amount
2968
Legal Description
W 73.75 FT OF LOT 1 BLK D PEARL LAKE HEIGHTS 1ST ADD PB 8 PG 60
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Building materials
Block
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS HERITAGE REALTY · Keller Williams Realty
(407) 862-9700
Listed By:
Jeremy Mazza · License #3306615
(407) 574-9859
Added: May 15
Changed: Sep 2
Last Checked: Sep 5 at 2:06PM
MLS# O6408225
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 vacant duplex contains 1,940 square feet on a 0.17-acre corner lot. Both units have been renovated, with a new shingle roof, updated windows, central heating and central air conditioning. Block construction, storage, ceiling fans, public water, and a septic tank serve the property. The property is zoned R-2 and has no HOA.
The home is on Jewel Drive in Altamonte Springs, within walking distance of shopping, dining, Target, and Walmart shopping centers. It is also near three I-4 exits, the Altamonte Springs hotel area, and St Andrews Tavern on the same street. Lake Brantley High School zoning is identified for the property.
The home is on Jewel Drive in Altamonte Springs, within walking distance of shopping, dining, Target, and Walmart shopping centers. It is also near three I-4 exits, the Altamonte Springs hotel area, and St Andrews Tavern on the same street. Lake Brantley High School zoning is identified for the property.
Key Highlights
- 1,940‑square‑foot duplex on a 0.17‑acre corner lot
- Both sides renovated; property is vacant
- New shingle roof and updated windows
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
$25,875
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
5.95%
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%
$517,500
$517.5K
Cap Rate 7%
$369,643
$369.6K
Cap Rate 9%
$287,500
$287.5K
Market Conditions
NOI Build-Up for 1,940 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
$39.6K $20.40/SF
− Vacancy
−$2.6K −$1.35/SF
EGI
$37.0K $19.05/SF
− OpEx
−$11.1K −$5.72/SF
NOI
$25.9K $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%
$517,500
Cap Rate 7%
$369,643
Cap Rate 9%
$287,500
Alternative Uses
Best Use
Multifamily LT 5
$369.6K
$323.4K – $431.3K
NOI $25,875 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$340.3K
$297.8K – $397.1K
NOI $23,824 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$552.1K
$483.1K – $644.1K
NOI $38,645 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 32714, FL
38,049
Population
16,722
Households
2.3
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
8.5 sq mi
ZIP Area
4,476
Density / Sq Mi
$67,333
Median Household Income
$39,714
Median Earnings
$1,641
Median Rent
$292,300
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 - Vacant two-unit property with block construction, updated interiors, and flexible residential income or owner-occupant use.
Where is this duplex located?
The property is located at 134 JEWEL Drive Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,940‑square‑foot duplex on a 0.17‑acre corner lot; Both sides renovated; property is vacant; New shingle roof and updated windows
