Duplex with Covered
New
For Sale
$589,000
212 E HARVARD STREET, Orlando, FL 32804
Tenant-occupied duplex with updated electrical, central HVAC, terrazzo floors, and private laundry rooms in each unit.
Property Size1,588 SF
Price / SF$370.91
Days on Market6
Property Features for 212 E HARVARD STREET
General Information
Standard status
Active
Size
1,588 SF
Property subtype
Duplex
Building Details
Year Built
1968
Listing Agency:
WATSON REALTY CORP.
(407) 589-1600
Listed By:
Greg Staker · License #3006328
Source:
Dennisrealty
Added: Aug 9
Changed: Aug 13
Last Checked: Aug 14 at 6:49AM
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 WATSON REALTY CORP.
Investment Insights
Based on property information with market context.
Built in 1968, this duplex contains two tenant-occupied units, offering an existing rental configuration for an owner-user or residential income buyer. Each unit includes central heating and air conditioning, terrazzo flooring, a private laundry room, covered parking, and additional driveway parking.
Property improvements include a roof installed in 2019, updated electrical service, and a recently added fence enclosing the site. The property is positioned just off Princeton Avenue between I-4 and N. Orange Avenue in Orlando’s 32804 ZIP code. Nearby destinations identified in the property information include the Orlando Science Center, AdventHealth Orlando, College Park, Park Avenue in Winter Park, downtown Orlando, shopping, dining, and entertainment venues.
Property improvements include a roof installed in 2019, updated electrical service, and a recently added fence enclosing the site. The property is positioned just off Princeton Avenue between I-4 and N. Orange Avenue in Orlando’s 32804 ZIP code. Nearby destinations identified in the property information include the Orlando Science Center, AdventHealth Orlando, College Park, Park Avenue in Winter Park, downtown Orlando, shopping, dining, and entertainment venues.
Key Highlights
- Two tenant‑occupied units
- Roof replaced in 2019
- Central heating and air conditioning in each unit
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
$22,529
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
3.82%
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%
$450,580
$450.6K
Cap Rate 7%
$321,843
$321.8K
Cap Rate 9%
$250,322
$250.3K
Market Conditions
NOI Build-Up for 1,588 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
$34.3K $21.60/SF
− Vacancy
−$2.1K −$1.33/SF
EGI
$32.2K $20.27/SF
− OpEx
−$9.7K −$6.08/SF
NOI
$22.5K $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%
$450,580
Cap Rate 7%
$321,843
Cap Rate 9%
$250,322
Alternative Uses
Best Use
Multifamily LT 5
$321.8K
$281.6K – $375.5K
NOI $22,529 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$294.0K
$257.2K – $343.0K
NOI $20,579 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$511.6K
$447.6K – $596.8K
NOI $35,809 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 32804, FL
19,084
Population
10,127
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
2,651
Density / Sq Mi
$113,466
Median Household Income
$61,227
Median Earnings
$1,717
Median Rent
$498,700
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 - Tenant-occupied duplex with updated electrical, central HVAC, terrazzo floors, and private laundry rooms in each unit.
Where is this duplex located?
The property is located at 212 E HARVARD STREET Orlando, FL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Two tenant‑occupied units; Roof replaced in 2019; Central heating and air conditioning in each unit
