Renovated Duplex with Covered
For Sale
$465,000
1921 BONNEVILLE Drive, Orlando, FL 32826
Residential Income, ORLANDO, FL
Property Size1,792 SF
Lot Size0.33 Acres
Price / SF$259.49
Days on Market49
Property Features for 1921 BONNEVILLE Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Dining Room, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2
Parking features
Covered, Driveway
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Living Room/Dining Room Combo, Vaulted Ceiling(s)
Exterior features
Sidewalk
Appliances
Dishwasher, Microwave, Range
Subdivision
PALM LAKES ESTATES
Lot features
Sidewalk, Paved
Elementary school
Bonneville Elem
Middle school
Corner Lake Middle
High school
East River High
Directions
I-4 W to FL-408 E Take exit 23 from FL-408 E Drive to Bonneville Dr
Standard status
Active
APN
14-22-31-6539-14-050
Size
1,792 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM LAKES ESTATES 5TH ADDITION U/85 LOT5 BLK 104
Tax Annual Amount
5938
Legal Description
PALM LAKES ESTATES 5TH ADDITION U/85 LOT5 BLK 104
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
fenced backyard
private entrance
separate water and electric meters
tile flooring
Building Details
Year built
1981
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ADVANTAGE REALTY · Keller Williams Realty
(407) 977-7600
Listed By:
Ron Verzaro, II · License #3294721
(407) 221-5464
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 2 at 7:06AM
MLS# O6425260
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 renovated duplex at 1921 Bonneville Drive contains two 2-bedroom, 1-bath residences totaling 1,792 square feet. Each unit includes a private entrance, covered carport, separate water and electric meters, tile flooring, and access to a large fenced backyard. The property also provides a combined living and dining area, vaulted ceilings, patios, central heating and cooling, and block construction.
Recent improvements include refreshed cabinetry, quartz kitchen countertops, updated electrical panels, renovated bathrooms, and interior and exterior paint. Unit 1921 additionally features a new HVAC system, water heater, and kitchen appliances. The property has a newer shingle roof and ceramic tile flooring throughout both units.
Situated near the University of Central Florida in Orlando, the property is on a 0.33-acre lot and carries R-2 zoning. Public water and septic service are provided, with covered parking and driveway access on site.
Recent improvements include refreshed cabinetry, quartz kitchen countertops, updated electrical panels, renovated bathrooms, and interior and exterior paint. Unit 1921 additionally features a new HVAC system, water heater, and kitchen appliances. The property has a newer shingle roof and ceramic tile flooring throughout both units.
Situated near the University of Central Florida in Orlando, the property is on a 0.33-acre lot and carries R-2 zoning. Public water and septic service are provided, with covered parking and driveway access on site.
Key Highlights
- Two‑unit duplex with 1,792 square feet of total property size
- Each residence includes 2 bedrooms and 1 bathroom
- 0.33‑acre lot near the University of Central Florida
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
$25,423
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
5.47%
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%
$508,460
$508.5K
Cap Rate 7%
$363,186
$363.2K
Cap Rate 9%
$282,478
$282.5K
Market Conditions
NOI Build-Up for 1,792 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
$38.7K $21.60/SF
− Vacancy
−$2.4K −$1.33/SF
EGI
$36.3K $20.27/SF
− OpEx
−$10.9K −$6.08/SF
NOI
$25.4K $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%
$508,460
Cap Rate 7%
$363,186
Cap Rate 9%
$282,478
Alternative Uses
Best Use
Multifamily LT 5
$363.2K
$317.8K – $423.7K
NOI $25,423 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$331.8K
$290.3K – $387.1K
NOI $23,223 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$577.3K
$505.1K – $673.5K
NOI $40,409 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 32826, FL
33,065
Population
10,714
Households
3.1
Avg Household Size
25
Median Age
34%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
4,529
Density / Sq Mi
$61,784
Median Household Income
$27,066
Median Earnings
$1,478
Median Rent
$224,100
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 - Two-bedroom residences offer separate meters, private entrances, and fenced outdoor space.
Where is this duplex located?
The property is located at 1921 BONNEVILLE Drive Orlando, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,792 square feet of total property size; Each residence includes 2 bedrooms and 1 bathroom; 0.33‑acre lot near the University of Central Florida
