Duplex Property with Vaulted
New
For Sale
$599,999
1417 BELGRADE Avenue, Orlando, FL 32803
Residential Income, ORLANDO, FL
Property Size1,650 SF
Lot Size0.15 Acres
Price / SF$363.64
Days on Market7
Property Features for 1417 BELGRADE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2A/T/SP
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3
Patio and Porch features
Deck, Porch, Patio
Pets allowed
Yes
Interior features
Vaulted Ceiling(s)
Appliances
Built-In Oven, Dishwasher, Disposal, Dryer, Range, Refrigerator, Washer
Subdivision
FIRST ADD
Lot features
Corner Lot, Gentle Sloping
Elementary school
Hillcrest Elem
Middle school
Howard Middle
High school
Edgewater High
Directions
Properties located on the corner of Belgrade Avenue and Minnesota Street.
Standard status
Active
APN
24-22-29-5976-13-041
Size
1,650 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FIRST ADDITION TO NORTH PARK G/55 N 45 FT OF LOT 4 BLK M
Tax Annual Amount
8726
Legal Description
FIRST ADDITION TO NORTH PARK G/55 N 45 FT OF LOT 4 BLK M
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Flooring type
Marble, Wood, Tile
Building materials
Block, Concrete, Frame
Roof type
Shingle
Listing Agency:
LISTWITHFREEDOM.COM
(855) 456-4945
Listed By:
Ralph Harvey · License #304715
(855) 456-4945
Added: Aug 23
Changed: Aug 24
Last Checked: Aug 29 at 7:06AM
MLS# W7888842
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 duplex property was built in 2005 and offers 1,650 square feet on a 0.15-acre lot. The interior includes 3 bedrooms, 3 bathrooms, vaulted ceilings, central heating, and central air. Built-in and freestanding appliances include an oven, range, refrigerator, dishwasher, disposal, washer, and dryer. Marble, wood, and tile flooring are present throughout, with block, concrete, and frame construction.
Outdoor features include a deck, patio, and porch. The property is located on Belgrade Avenue in Orlando's 32803 ZIP code, within Orange County. Public water and public sewer serve the property, with water available as a listed utility. Zoning is R-2A/T/SP.
Outdoor features include a deck, patio, and porch. The property is located on Belgrade Avenue in Orlando's 32803 ZIP code, within Orange County. Public water and public sewer serve the property, with water available as a listed utility. Zoning is R-2A/T/SP.
Key Highlights
- Duplex property with 1,650 square feet on a 0.15‑acre lot
- 3 bedrooms and 3 bathrooms
- Built in 2005 with block, concrete, and frame construction
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
$23,409
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
3.90%
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%
$468,180
$468.2K
Cap Rate 7%
$334,414
$334.4K
Cap Rate 9%
$260,100
$260.1K
Market Conditions
NOI Build-Up for 1,650 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
$35.6K $21.60/SF
− Vacancy
−$2.2K −$1.33/SF
EGI
$33.4K $20.27/SF
− OpEx
−$10.0K −$6.08/SF
NOI
$23.4K $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%
$468,180
Cap Rate 7%
$334,414
Cap Rate 9%
$260,100
Alternative Uses
Best Use
Multifamily LT 5
$334.4K
$292.6K – $390.2K
NOI $23,409 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$305.5K
$267.3K – $356.4K
NOI $21,383 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$531.5K
$465.1K – $620.1K
NOI $37,207 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,155
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-2A/T/SP-zoned property with public water and sewer, central air, and multiple outdoor living areas.
Where is this duplex located?
The property is located at 1417 BELGRADE Avenue Orlando, FL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Duplex property with 1,650 square feet on a 0.15‑acre lot; 3 bedrooms and 3 bathrooms; Built in 2005 with block, concrete, and frame construction
