Updated Triplex with In-Unit
For Sale
$675,000
245 Orange Pl, Maitland, FL 32751
Three occupied units feature separate electric meters and in-unit washers and dryers.
Property Size1,935 SF
Price / SF$348.84
Days on Market95
Property Features for 245 Orange Pl
General Information
Standard status
Active
Size
1,935 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,093
Amenities
in-unit washer/dryer
storage shed
ample parking
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
ONE LUXURY INTERNATIONAL LLC
(773) 313-5099
Listed By:
Jessica Lee
(773) 313-5099
Source:
Exprealty
Added: May 29
Changed: Aug 30
Last Checked: Jul 13 at 2:11AM
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 ONE LUXURY INTERNATIONAL LLC
Investment Insights
Based on property information with market context.
Built in 1946, this triplex contains three separately metered units with updated kitchens, individual in-unit washers and dryers, ample parking, and an oversized storage shed. The unit mix includes a 2 Bed/1 Bath, a 1 Bed/1 Bath, and a studio. Exterior siding was replaced in 2026, while newer roofs were installed in 2026 and 2021.
All three units are occupied, with leases scheduled to expire in July and August of 2026. Two tenants have indicated interest in extending their leases. The property is located in Maitland near the Enzian Theater and Downtown Maitland, with access to Winter Park Village, Park Avenue, Rollins College, nearby shopping, dining, grocery stores, farmers markets, and commuter routes.
All three units are occupied, with leases scheduled to expire in July and August of 2026. Two tenants have indicated interest in extending their leases. The property is located in Maitland near the Enzian Theater and Downtown Maitland, with access to Winter Park Village, Park Avenue, Rollins College, nearby shopping, dining, grocery stores, farmers markets, and commuter routes.
Key Highlights
- Three‑unit configuration with 2 Bed/1 Bath, 1 Bed/1 Bath, and studio layouts
- Separate electric meters and in‑unit washers and dryers for all three units
- Exterior siding replaced in 2026; newer roofs installed in 2026 and 2021
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
$25,808
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%
$516,160
$516.2K
Cap Rate 7%
$368,686
$368.7K
Cap Rate 9%
$286,756
$286.8K
Market Conditions
NOI Build-Up for 1,935 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
$39.5K $20.40/SF
− Vacancy
−$2.6K −$1.35/SF
EGI
$36.9K $19.05/SF
− OpEx
−$11.1K −$5.72/SF
NOI
$25.8K $13.34/SF
Area
Orange County, FL
Vacancy
6.60%
Lease Rate
$20.40 /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%
$516,160
Cap Rate 7%
$368,686
Cap Rate 9%
$286,756
Alternative Uses
Best Use
Multifamily LT 5
$368.7K
$322.6K – $430.1K
NOI $25,808 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$339.5K
$297.0K – $396.0K
NOI $23,762 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$550.6K
$481.8K – $642.4K
NOI $38,545 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 32751, FL
23,230
Population
10,730
Households
2.2
Avg Household Size
40
Median Age
56%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
3,319
Density / Sq Mi
$94,277
Median Household Income
$51,357
Median Earnings
$1,841
Median Rent
$433,100
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 occupied units feature separate electric meters and in-unit washers and dryers.
Where is this triplex located?
The property is located at 245 Orange Pl Maitland, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three‑unit configuration with 2 Bed/1 Bath, 1 Bed/1 Bath, and studio layouts; Separate electric meters and in‑unit washers and dryers for all three units; Exterior siding replaced in 2026; newer roofs installed in 2026 and 2021
