Updated Half-Duplex
For Sale
$289,900
2458 LONG MEADOW Way, Orlando, FL 32817
MULTI_FAMILY - ORLANDO, FL
Property Size981 SF
Lot Size0.11 Acres
Price / SF$295.51
Days on Market52
Property Features for 2458 LONG MEADOW Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Parking features
Open, Driveway
Window features
Blinds
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Ceiling Fans(s), Primary Bedroom Main Floor, Vaulted Ceiling(s)
Exterior features
Garden, Private Yard, Rain Gutters, Sidewalk, Sliding Doors
Fencing
Fenced
Appliances
Dishwasher, Range, Range Hood
Subdivision
CARMEL PARK
Lot features
Landscaped, Sidewalk, Paved
Elementary school
Arbor Ridge Elem
Middle school
Union Park Middle
High school
Winter Park High
Directions
Head toward N Thornton Ave on E Colonial Dr (US-17/US-92). Continue on E Colonial Dr (SR-50). Turn left onto N Dean Rd. Turn left onto Carmel Park Dr. Turn left onto Long Meadow Way.
Standard status
Active
APN
18-22-31-1200-00-485
Size
981 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CARMEL PARK 15/92 LOT 48 B
Tax Annual Amount
3535
Legal Description
CARMEL PARK 15/92 LOT 48 B
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1989
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY AT THE PARKS
(407) 629-4420
Listed By:
Thomas Nickley, Jr · License #3275393
(407) 629-4420
Added: Jun 26
Changed: Aug 13
Last Checked: Aug 16 at 11:06AM
MLS# O6420840
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 981-square-foot half-duplex residence, built in 1989, offers two bedrooms, two bathrooms, and a one-car garage with laundry equipment. Interior improvements include ceramic wood-look tile flooring, new 5-inch wood baseboards, updated bathrooms, stainless appliances, and a new dishwasher. Vaulted ceilings, ceiling fans, central air, and an electric heating system are also included. The property has a shingle roof, block, concrete, and stucco construction, plus a private fenced yard, patio, rain gutters, and sliding doors.
The home is located in Orlando’s 32817 postal area, with access to SR 408, 417, 436, Highway 50, and University Boulevard. Blanchard Park, Waterford Lakes Town Center, Valencia College East, Downtown Orlando, and Orlando International Airport are identified within the surrounding area. Public water service and a septic tank are in place, and the property is zoned R-2.
The home is located in Orlando’s 32817 postal area, with access to SR 408, 417, 436, Highway 50, and University Boulevard. Blanchard Park, Waterford Lakes Town Center, Valencia College East, Downtown Orlando, and Orlando International Airport are identified within the surrounding area. Public water service and a septic tank are in place, and the property is zoned R-2.
Key Highlights
- 981‑square‑foot half‑duplex with 2 bedrooms, 2 bathrooms, and a 1‑car garage
- Premium shingle roof installed in 2022
- New septic tank and drainfield completed in 2017
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
$12,713
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
4.39%
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%
$254,260
$254.3K
Cap Rate 7%
$181,614
$181.6K
Cap Rate 9%
$141,256
$141.3K
Market Conditions
NOI Build-Up for 981 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 $25.20/SF
− Vacancy
−$1.6K −$1.64/SF
EGI
$23.1K $23.56/SF
− OpEx
−$10.4K −$10.60/SF
NOI
$12.7K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$254,260
Cap Rate 7%
$181,614
Cap Rate 9%
$141,256
Alternative Uses
Best Use
Apartment 5plus
$181.6K
$158.9K – $211.9K
NOI $12,713 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.0K
$276.5K – $368.7K
NOI $22,121 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 32817, FL
40,376
Population
13,747
Households
2.9
Avg Household Size
29
Median Age
36%
College-Educated
92%
High-School Grad
11.7 sq mi
ZIP Area
3,451
Density / Sq Mi
$78,546
Median Household Income
$34,316
Median Earnings
$1,741
Median Rent
$327,800
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?
Multifamily property - Two-bedroom, two-bath home with a garage, fenced yard, and ceramic tile flooring throughout.
Where is this multifamily property located?
The property is located at 2458 LONG MEADOW Way Orlando, FL.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 981‑square‑foot half‑duplex with 2 bedrooms, 2 bathrooms, and a 1‑car garage; Premium shingle roof installed in 2022; New septic tank and drainfield completed in 2017
