Updated
New
For Sale
$799,000
1515 E CENTRAL Boulevard, Orlando, FL 32801
Residential Income, ORLANDO, FL
Property Size2,013 SF
Lot Size0.15 Acres
Price / SF$396.92
Days on Market1
Property Features for 1515 E CENTRAL Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2A/T/HP/
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 3
Interior features
Ceiling Fans(s)
Exterior features
Private Mailbox, Sidewalk, Storage
Fireplace
1
Subdivision
EOLA ROSE SUB
Directions
From Orlando International Airport (MCO), take FL-436 N/S Semoran Blvd north toward Downtown Orlando. Continue toward E Central Blvd, then head west on E Central Blvd. Property is located at 1515 E Central Blvd, Orlando, FL 32801.
Standard status
Active
APN
25-22-29-2512-00-210
Size
2,013 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
EOLA ROSE SUB G/15 LOT 21
Tax Annual Amount
10264
Legal Description
EOLA ROSE SUB G/15 LOT 21
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Building materials
Block
Roof type
Metal
Additional Structures
Storage
Listing Agency:
FLORIDA HOMES REALTY & MORTGAGE
(904) 996-9115
Listed By:
Alex Zarzuela
(818) 333-6727
Added: Oct 1
Last Checked: Oct 1 at 8:06PM
MLS# O6446472
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 2,013-square-foot duplex was built in 1987 and sits on a 0.15-acre lot. The building has block construction and a metal roof, with recent installation of air-conditioning systems and two tankless water heaters. Central heating and central air-conditioning are in place, along with storage and a low-maintenance yard.
The property is in Downtown Orlando, with Lake Eola Park and downtown shops, restaurants, and entertainment nearby. Sidewalks are present, and public water and sewer serve the site.
The property is in Downtown Orlando, with Lake Eola Park and downtown shops, restaurants, and entertainment nearby. Sidewalks are present, and public water and sewer serve the site.
Key Highlights
- Duplex with 2,013 square feet of building area
- 0.15‑acre lot in Downtown Orlando
- Built in 1987 with block 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
$28,559
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
3.57%
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%
$571,180
$571.2K
Cap Rate 7%
$407,986
$408.0K
Cap Rate 9%
$317,322
$317.3K
Market Conditions
NOI Build-Up for 2,013 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
$43.5K $21.60/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$40.8K $20.27/SF
− OpEx
−$12.2K −$6.08/SF
NOI
$28.6K $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%
$571,180
Cap Rate 7%
$407,986
Cap Rate 9%
$317,322
Alternative Uses
Best Use
Multifamily LT 5
$408.0K
$357.0K – $476.0K
NOI $28,559 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$372.7K
$326.1K – $434.8K
NOI $26,087 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$648.5K
$567.4K – $756.5K
NOI $45,392 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,908
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Block construction, a metal roof, and newer mechanical systems serve this two-unit residential property.
Where is this duplex located?
The property is located at 1515 E CENTRAL Boulevard Orlando, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Duplex with 2,013 square feet of building area; 0.15‑acre lot in Downtown Orlando; Built in 1987 with block construction
