Duplex with Recently Replaced
For Sale
$409,900
3128 PATEL DRIVE, Winter Park, FL 32792
Separate two-bedroom, two-bath units feature tiled or laminate floors, appliances, laundry hookups, and partially fenced backyards.
Property Size1,934 SF
Price / SF$211.94
Days on Market948
Property Features for 3128 PATEL DRIVE
General Information
Standard status
Active
Size
1,934 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,409
Building Details
Year Built
1989
Listing Agency:
FUSILIER MANAGEMENT GROUP
(407) 476-0476
Listed By:
Keith Race · License #3025773
(407) 536-7223
Source:
Exitrealty
Added: Mar 13, 2024
Changed: Oct 13
Last Checked: Oct 14 at 9:53PM
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 FUSILIER MANAGEMENT GROUP
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Investment Insights
Based on property information with market context.
This 1,934-square-foot duplex, built in 1989, contains two separate residences with the same two-bedroom, two-bath configuration. Each side includes a living room, kitchen appliances, ceramic tile or laminate flooring, storage closets, ceiling fans, and washer/dryer hookups. The property also provides partially fenced backyard areas, and the duplex roof has recently been replaced.
The property is in the Allison Oakes subdivision near North Goldenrod and Bates Road in Winter Park. Its location provides access to local schools, restaurants, and shopping, along with connections to 417 (Greenway), University Avenue, Semoran, UCF, and Valencia East.
The property is in the Allison Oakes subdivision near North Goldenrod and Bates Road in Winter Park. Its location provides access to local schools, restaurants, and shopping, along with connections to 417 (Greenway), University Avenue, Semoran, UCF, and Valencia East.
Key Highlights
- Two separate 2 bedroom, 2 bath units
- 1934 square feet; built in 1989
- Roof replacement recently completed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,795
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$515,900
$515.9K
Cap Rate 7%
$368,500
$368.5K
Cap Rate 9%
$286,611
$286.6K
Market Conditions
NOI Build-Up for 1,934 SF
Gross rent
$39.5K $20.40/SF
− Vacancy
−$2.6K −$1.35/SF
EGI
$36.8K $19.05/SF
− OpEx
−$11.1K −$5.72/SF
NOI
$25.8K $13.34/SF
Area
Orange 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 Rate 5%
$515,900
Cap Rate 7%
$368,500
Cap Rate 9%
$286,611
Alternative Uses
Best Use
Multifamily LT 5
$368.5K
$322.4K – $429.9K
NOI $25,795 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$339.3K
$296.9K – $395.8K
NOI $23,750 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$550.4K
$481.6K – $642.1K
NOI $38,525 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 32792, FL
51,376
Population
24,169
Households
2.1
Avg Household Size
36
Median Age
42%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
4,246
Density / Sq Mi
$66,176
Median Household Income
$39,326
Median Earnings
$1,612
Median Rent
$343,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate two-bedroom, two-bath units feature tiled or laminate floors, appliances, laundry hookups, and partially fenced backyards.
Where is this duplex located?
The property is located at 3128 PATEL DRIVE Winter Park, FL.
What is the asking price?
The asking price for this property is $409,900.
What are key features of this property?
This property features: Two separate 2 bedroom, 2 bath units; 1934 square feet; built in 1989; Roof replacement recently completed
