Furnished
New
For Sale
$639,900
1501 WOODWARD Street, Orlando, FL 32803
Residential Income, ORLANDO, FL
Property Size1,600 SF
Lot Size0.14 Acres
Price / SF$399.94
Days on Market2
Property Features for 1501 WOODWARD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2A/T/SP/
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 4, Dining Room, Bathroom 2
Parking features
Driveway, Open, Guest
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Ceiling Fans(s), Eat-in Kitchen, Living Room/Dining Room Combo, Open Floorplan, Solid Surface Counters, Solid Wood Cabinets, Stone Counters, Window Treatments
Exterior features
Fence
Fencing
Fenced
Appliances
Cooktop, Dishwasher, Dryer, Microwave, Range, Range Hood, Refrigerator, Tankless Water Heater, Washer
Subdivision
PINECREST ADD
Lot features
City Limits, Level, Near Public Transit, Sidewalk, Street Brick
View
City
Directions
FROM I4 EXIT ONTO EAST COLONIAL DRIVE CROSS OVER MILLS AVE, MAKE LEFT ON SHINE AVE AND RIGHT ONTO WOODWARD, PROPERTY IS ON THE LEFT.
Standard status
Active
APN
24-22-29-7060-02-080
Size
1,600 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PINECREST ADDITION G/91 LOT 8 BLK B
Tax Annual Amount
8528
Legal Description
PINECREST ADDITION G/91 LOT 8 BLK B
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1937
Floors in Building
2
Number of units
2
Flooring type
Laminate, Tile - Ceramic, Carpet
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Michael Garcia · License #3289387
(407) 802-6290
Added: Sep 28
Last Checked: Sep 29 at 1:06AM
MLS# O6445255
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 1,600-square-foot duplex on a 0.14-acre lot contains two furnished residences. The upstairs unit has 2 bedrooms, 1 bathroom, and a bonus room; the downstairs unit has 2 bedrooms, 2 bathrooms, and a bonus room. Both have remodeled kitchens and bathrooms, updated flooring, and their own washer and dryer. The property also includes solar panels, a roof approximately five years old, a fenced yard, and a spacious driveway. Built in 1937, it has public water and sewer service.
The property is near Downtown Orlando, Mills 50, Colonialtown, shopping, dining, entertainment, and major roadways. It has been used as a short-term rental and is also being offered for long-term rental, subject to applicable regulations.
The property is near Downtown Orlando, Mills 50, Colonialtown, shopping, dining, entertainment, and major roadways. It has been used as a short-term rental and is also being offered for long-term rental, subject to applicable regulations.
Key Highlights
- Two residences, each with 2 bedrooms and a bonus room
- Upstairs unit has 1 bathroom; downstairs unit has 2 bathrooms
- 1,600 square feet on a 0.14‑acre lot
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
$22,699
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
3.55%
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%
$453,980
$454.0K
Cap Rate 7%
$324,271
$324.3K
Cap Rate 9%
$252,211
$252.2K
Market Conditions
NOI Build-Up for 1,600 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
$34.6K $21.60/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$32.4K $20.27/SF
− OpEx
−$9.7K −$6.08/SF
NOI
$22.7K $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%
$453,980
Cap Rate 7%
$324,271
Cap Rate 9%
$252,211
Alternative Uses
Best Use
Multifamily LT 5
$324.3K
$283.7K – $378.3K
NOI $22,699 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$296.2K
$259.2K – $345.6K
NOI $20,735 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$515.4K
$451.0K – $601.3K
NOI $36,079 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,774
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences include separate laundry appliances and furnishings in both units.
Where is this duplex located?
The property is located at 1501 WOODWARD Street Orlando, FL.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and a bonus room; Upstairs unit has 1 bathroom; downstairs unit has 2 bathrooms; 1,600 square feet on a 0.14‑acre lot
