Gutted Duplex with Approved
For Sale
$399,900
200 & 200 1/2 Hibiscus Ct, Orlando, FL 32801
Vacant two-unit property with a 2-bedroom upper residence, 1-bedroom lower residence, and city-approved permits for renovation.
Property Size1,144 SF
Price / SF$349.56
Days on Market10
Property Features for 200 & 200 1/2 Hibiscus Ct
General Information
Standard status
Active
Size
1,144 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
fully gutted inside
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
LPT REALTY, LLC
(321) 821-8446
Listed By:
Andres Ospina Rivera · License #3293879
Source:
Figteam
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 10:28AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This 1,144-square-foot duplex, built in 1930, is vacant and fully gutted, providing an open interior for the next renovation phase. The upper residence contains 2 bedrooms and 1 bathroom, while the lower residence offers 1 bedroom and 1 bathroom. The roof was replaced in 2025, and city-approved permits and plans are in place for the project.
The property is located at 200 & 200 1/2 Hibiscus Ct in Orlando’s Historic District of Lake Eola, within Downtown Orlando. Lake Eola, parks, green spaces, and outdoor activities are located nearby. The approved plans and existing two-unit layout provide a defined framework for completing the property’s renovation.
The property is located at 200 & 200 1/2 Hibiscus Ct in Orlando’s Historic District of Lake Eola, within Downtown Orlando. Lake Eola, parks, green spaces, and outdoor activities are located nearby. The approved plans and existing two-unit layout provide a defined framework for completing the property’s renovation.
Key Highlights
- 1,144‑square‑foot duplex built in 1930
- Upper unit includes 2 bedrooms and 1 bathroom
- Lower unit includes 1 bedroom and 1 bathroom
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
$16,230
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
4.06%
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%
$324,600
$324.6K
Cap Rate 7%
$231,857
$231.9K
Cap Rate 9%
$180,333
$180.3K
Market Conditions
NOI Build-Up for 1,144 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
$24.7K $21.60/SF
− Vacancy
−$1.5K −$1.33/SF
EGI
$23.2K $20.27/SF
− OpEx
−$7.0K −$6.08/SF
NOI
$16.2K $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%
$324,600
Cap Rate 7%
$231,857
Cap Rate 9%
$180,333
Alternative Uses
Best Use
Multifamily LT 5
$231.9K
$202.9K – $270.5K
NOI $16,230 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$211.8K
$185.3K – $247.1K
NOI $14,825 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$368.5K
$322.5K – $430.0K
NOI $25,797 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,728
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
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 - Vacant two-unit property with a 2-bedroom upper residence, 1-bedroom lower residence, and city-approved permits for renovation.
Where is this duplex located?
The property is located at 200 & 200 1/2 Hibiscus Ct Orlando, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,144‑square‑foot duplex built in 1930; Upper unit includes 2 bedrooms and 1 bathroom; Lower unit includes 1 bedroom and 1 bathroom
