Updated Duplex with Private
For Sale
$525,000
Pending
1239 VIRGINIA DRIVE, Orlando, FL 32803
Two vacant units offer separate carports, fenced backyards, and in-carport laundry areas.
Property Size1,571 SF
Days on Market483
Property Features for 1239 VIRGINIA DRIVE
General Information
Standard status
Pending
Size
1,571 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,966
Amenities
private carport
fenced backyard
laundry area
Building Details
Year Built
1959
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Tyler Gibson LLC · License #3454664
(877) 366-2213
Source:
Exitrealty
Added: May 6, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:57PM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This 1959 duplex includes two separate residences, each with two bedrooms, one bathroom, an open-concept living area, multiple closets, and kitchen storage. Both units are vacant, and each has a private carport with a laundry area, along with its own fenced backyard. Large windows provide natural light, while partial updates support immediate occupancy.
Located at 1239 Virginia Drive in Orlando, the property sits near Mills Avenue and places both units within the surrounding Orlando area. The layout provides two distinct living spaces in one residential income property, with practical features repeated across each side.
Located at 1239 Virginia Drive in Orlando, the property sits near Mills Avenue and places both units within the surrounding Orlando area. The layout provides two distinct living spaces in one residential income property, with practical features repeated across each side.
Key Highlights
- Two‑unit duplex built in 1959
- Each unit includes 2 bedrooms and 1 bathroom
- Both units are vacant
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
$22,288
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%
$445,760
$445.8K
Cap Rate 7%
$318,400
$318.4K
Cap Rate 9%
$247,644
$247.6K
Market Conditions
NOI Build-Up for 1,571 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
$33.9K $21.60/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$31.8K $20.27/SF
− OpEx
−$9.6K −$6.08/SF
NOI
$22.3K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /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%
$445,760
Cap Rate 7%
$318,400
Cap Rate 9%
$247,644
Alternative Uses
Best Use
Multifamily LT 5
$318.4K
$278.6K – $371.5K
NOI $22,288 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,359 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$506.1K
$442.8K – $590.4K
NOI $35,425 @ 7.0% cap · market cap 6.75%
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
1,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
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 - Two vacant units offer separate carports, fenced backyards, and in-carport laundry areas.
Where is this duplex located?
The property is located at 1239 VIRGINIA DRIVE Orlando, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1959; Each unit includes 2 bedrooms and 1 bathroom; Both units are vacant
