Triplex With Enclosed
For Sale
$599,900
1756 TANGLEWOOD Dr, Kissimmee, FL 34746
Three separate residential units offer flexible living and rental-friendly layouts with modern interior upgrades and enclosed outdoor space.
Property Size2,532 SF
Lot Size1.00 Acre
Days on Market64
Property Features for 1756 TANGLEWOOD Dr
General Information
Standard status
Active
Size
2,532 SF
Lot size
1.00 Acre
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,716
Building Details
Building Size
2,532 SF
Year Built
1986
Listing Agency:
THE WILKINS WAY LLC
(407) 793-1266
Listed By:
Kevin Kelly · License #3469724
(407) 793-1266
Source:
Elliman
Added: Jun 15
Changed: Aug 15
Last Checked: Aug 17 at 5:43AM
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 THE WILKINS WAY LLC
Investment Insights
Based on property information with market context.
This property is a triplex featuring three separate living units under one ownership. The main residence is a 3-bedroom, 1-bathroom home with a flexible layout that can be converted to a 4-bedroom, 2-bathroom configuration. The interior has been updated with modern finishes, including stone countertops, and the home includes a fully enclosed screened-in porch. Two additional units each provide a private 1-bedroom, 1-bathroom layout with their own kitchenette.
Set on a full acre of landscaped land with mature trees, the property offers a private, fenced setting. Access is provided by a large U-shaped driveway designed to accommodate resident and guest parking. A whole-house water purification system is included for clean water throughout the property.
For buyers seeking an owner-occupied option with separate spaces, the layout supports living in one unit while maintaining privacy for the other two. For investors, the distinct unit configuration and kitchenette-equipped apartments can support multiple tenancy scenarios. The modern upgrades throughout the main home and the combination of enclosed outdoor space, fenced privacy, and dedicated parking make this an efficient, practical fit for a variety of residential ownership goals.
Set on a full acre of landscaped land with mature trees, the property offers a private, fenced setting. Access is provided by a large U-shaped driveway designed to accommodate resident and guest parking. A whole-house water purification system is included for clean water throughout the property.
For buyers seeking an owner-occupied option with separate spaces, the layout supports living in one unit while maintaining privacy for the other two. For investors, the distinct unit configuration and kitchenette-equipped apartments can support multiple tenancy scenarios. The modern upgrades throughout the main home and the combination of enclosed outdoor space, fenced privacy, and dedicated parking make this an efficient, practical fit for a variety of residential ownership goals.
Key Highlights
- Year built 1986 and includes three separate residential units: a 3‑bedroom, 1‑bath main home plus two attached 1‑bedroom, 1‑bath apartment units
- Main residence features a flexible layout that can be converted into a 4‑bedroom, 2‑bath home
- Fully renovated interior with modern stone countertops
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
$26,847
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
4.48%
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%
$536,940
$536.9K
Cap Rate 7%
$383,529
$383.5K
Cap Rate 9%
$298,300
$298.3K
Market Conditions
NOI Build-Up for 2,532 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
$41.0K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.4K $15.15/SF
− OpEx
−$11.5K −$4.54/SF
NOI
$26.8K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$536,940
Cap Rate 7%
$383,529
Cap Rate 9%
$298,300
Alternative Uses
Best Use
Multifamily LT 5
$383.5K
$335.6K – $447.5K
NOI $26,847 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$342.6K
$299.8K – $399.7K
NOI $23,983 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$608.5K
$532.4K – $709.9K
NOI $42,592 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
Explore this area
Business Placement
Demographics for 34746, FL
56,344
Population
25,533
Households
2.2
Avg Household Size
38
Median Age
30%
College-Educated
87%
High-School Grad
44.0 sq mi
ZIP Area
1,281
Density / Sq Mi
$67,677
Median Household Income
$33,592
Median Earnings
$1,793
Median Rent
$328,500
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?
Triplex - Three separate residential units offer flexible living and rental-friendly layouts with modern interior upgrades and enclosed outdoor space.
Where is this triplex located?
The property is located at 1756 TANGLEWOOD Dr Kissimmee, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Year built 1986 and includes three separate residential units: a 3‑bedroom, 1‑bath main home plus two attached 1‑bedroom, 1‑bath apartment units; Main residence features a flexible layout that can be converted into a 4‑bedroom, 2‑bath home; Fully renovated interior with modern stone countertops
