Renovated Duplex with Two
For Sale
$272,500
Pending
1511 W 12TH STREET, Sanford, FL 32771
Two separately configured residential units offer updated systems and a practical income-property layout.
Property Size1,452 SF
Days on Market483
Property Features for 1511 W 12TH STREET
General Information
Standard status
Pending
Size
1,452 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,205
Building Details
Year Built
1938
Listing Agency:
EXP REALTY LLC
(407) 616-5837
Listed By:
Justin Poritzky · License #3368214
(407) 616-5837
Source:
Exitrealty
Added: May 6, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:56PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each arranged with two bedrooms and one bathroom. The property has undergone a comprehensive renovation, including a roof installed in 2020, new HVAC equipment, a newer water heater, and new insulation. Built in 1938, the 1,452-square-foot building combines an established structure with recent system updates.
Located at 1511 W 12TH STREET in Sanford, Florida, the property is configured as a front unit and a rear unit, providing separate living spaces within one building. Its two-unit design and updated major components support continued use as a residential income property.
Located at 1511 W 12TH STREET in Sanford, Florida, the property is configured as a front unit and a rear unit, providing separate living spaces within one building. Its two-unit design and updated major components support continued use as a residential income property.
Key Highlights
- Two‑unit duplex with a 2/1 front unit and 2/1 rear unit
- 1,452‑square‑foot building on a 0.33‑acre lot
- Roof installed in 2020
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
$19,366
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
7.11%
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%
$387,320
$387.3K
Cap Rate 7%
$276,657
$276.7K
Cap Rate 9%
$215,178
$215.2K
Market Conditions
NOI Build-Up for 1,452 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
$29.6K $20.40/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$27.7K $19.05/SF
− OpEx
−$8.3K −$5.72/SF
NOI
$19.4K $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%
$387,320
Cap Rate 7%
$276,657
Cap Rate 9%
$215,178
Alternative Uses
Best Use
Multifamily LT 5
$276.7K
$242.1K – $322.8K
NOI $19,366 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$254.7K
$222.9K – $297.2K
NOI $17,831 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$413.2K
$361.6K – $482.1K
NOI $28,924 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
301
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 separately configured residential units offer updated systems and a practical income-property layout.
Where is this duplex located?
The property is located at 1511 W 12TH STREET Sanford, FL.
What is the asking price?
The asking price for this property is $272,500.
What are key features of this property?
This property features: Two‑unit duplex with a 2/1 front unit and 2/1 rear unit; 1,452‑square‑foot building on a 0.33‑acre lot; Roof installed in 2020
