Duplex with Tenant-Occupied Downstairs
For Sale
$340,000
2508 Yale Avenue, Sanford, FL 32773
MULTI_FAMILY - Sanford, FL
Property Size1,592 SF
Lot Size0.22 Acres
Price / SF$213.57
Days on Market13
Property Features for 2508 Yale Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi Family
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1
Parking features
Driveway
Subdivision
Not on the List
Directions
From 415 South to SR46. Make right on SR46. Left on Yale Ave. Property on Right
Standard status
Active
APN
06-20-31-502-0700-0200
Size
1,592 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 1/2 OF LOT 20 + ALL LOT 21 BLK 7 PALM TERRACE PB 4 PG 82
Tax Annual Amount
5352
Legal Description
S 1/2 OF LOT 20 + ALL LOT 21 BLK 7 PALM TERRACE PB 4 PG 82
Utilities
Heating system
Electric (Heating)
Cooling system
Multi Units
Building Details
Year built
1930
Number of units
2
Building materials
Frame, Vinyl Siding
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Lorry Robles
(386) 479-0558
Added: Jul 27
Changed: Aug 7
Last Checked: Aug 8 at 8:06PM
MLS# 1229078
Copyright © 2026 Daytona Beach Area Association of Realtors. 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 duplex at 2508 Yale Avenue offers a practical owner-occupant and investor setup. The downstairs unit is a spacious 2-bedroom, 2-bath home and is currently tenant occupied. The upstairs unit is a 2-bedroom, 1-bath space that is vacant and described as move-in ready, supporting a house-hacking approach where one unit can be lived in while the other helps offset expenses.
The property sits on a 0.22-acre lot and was built in 1930. Interiors have been recently updated with modern flooring, neutral finishes, bright open living spaces, updated kitchens with stainless steel appliances, and refreshed bathrooms. Construction is frame with vinyl siding, with electric heating and multi-unit cooling. Parking is available via a driveway.
The property is noted as being in a NO flood zone area and is located near downtown Sanford, shopping, dining, major highways, Sanford-Orlando Airport, and the waterfront, adding convenience for both day-to-day access and tenant appeal.
The property sits on a 0.22-acre lot and was built in 1930. Interiors have been recently updated with modern flooring, neutral finishes, bright open living spaces, updated kitchens with stainless steel appliances, and refreshed bathrooms. Construction is frame with vinyl siding, with electric heating and multi-unit cooling. Parking is available via a driveway.
The property is noted as being in a NO flood zone area and is located near downtown Sanford, shopping, dining, major highways, Sanford-Orlando Airport, and the waterfront, adding convenience for both day-to-day access and tenant appeal.
Key Highlights
- 0.22‑acre lot with a 1,592 SF duplex built in 1930
- Downstairs unit: tenant occupied 2‑bedroom, 2‑bath
- Upstairs unit: vacant and move‑in ready 2‑bedroom, 1‑bath
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
$21,233
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
6.25%
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%
$424,660
$424.7K
Cap Rate 7%
$303,329
$303.3K
Cap Rate 9%
$235,922
$235.9K
Market Conditions
NOI Build-Up for 1,592 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
$32.5K $20.40/SF
− Vacancy
−$2.1K −$1.35/SF
EGI
$30.3K $19.05/SF
− OpEx
−$9.1K −$5.72/SF
NOI
$21.2K $13.34/SF
Area
Seminole 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%
$424,660
Cap Rate 7%
$303,329
Cap Rate 9%
$235,922
Alternative Uses
Best Use
Multifamily LT 5
$303.3K
$265.4K – $353.9K
NOI $21,233 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$279.3K
$244.4K – $325.8K
NOI $19,550 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$453.0K
$396.4K – $528.6K
NOI $31,713 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 32773, FL
33,990
Population
13,402
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
1,232
Density / Sq Mi
$63,496
Median Household Income
$40,479
Median Earnings
$1,482
Median Rent
$259,600
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 - Downstairs 2-bedroom, 2-bath unit is tenant occupied, while the upstairs 2-bedroom, 1-bath unit is vacant and move-in ready.
Where is this duplex located?
The property is located at 2508 Yale Avenue Sanford, FL.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 0.22‑acre lot with a 1,592 SF duplex built in 1930; Downstairs unit: tenant occupied 2‑bedroom, 2‑bath; Upstairs unit: vacant and move‑in ready 2‑bedroom, 1‑bath
