Updated Half Duplex with Fenced
For Sale
Under Contract
$239,900
2827 CORAL REEF Drive, Orlando, FL 32826
Residential, ORLANDO, FL
Property Size837 SF
Lot Size0.14 Acres
Price / SF$286.62
Days on Market137
Property Features for 2827 CORAL REEF Drive
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
Window features
Blinds
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Ceiling Fans(s), Solid Surface Counters, Solid Wood Cabinets, Stone Counters
Exterior features
Sliding Doors
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
UNIVERSITY PLACE
Lot features
In County, Landscaped, Paved
Elementary school
Riverdale Elem
Middle school
Corner Lake Middle
High school
University High
Directions
Head north on Alafaya Trail (FL-434), Continue for about 1.5 miles, Turn left onto McCulloch Road, Drive approximately 1 mile, Turn right onto Coral Reef Drive, continue straight - 2827 Coral Reef Dr will be on your left
Standard status
Active Under Contract
APN
15-22-31-8810-00-330
Size
837 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIVERSITY PLACE UNIT 1 10/137 LOT 33 (LESS S1/2)
Tax Annual Amount
2128
Legal Description
UNIVERSITY PLACE UNIT 1 10/137 LOT 33 (LESS S1/2)
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS ADVANTAGE III · Keller Williams Realty
(407) 207-0825
Listed By:
Christopher Baker · License #3105599
(407) 864-2454
Added: Apr 19
Changed: Sep 2
Last Checked: Sep 2 at 7:06AM
MLS# O6400580
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 837-square-foot half duplex, built in 1982, offers a practical two-bedroom, two-bathroom layout with ceramic tile flooring throughout. The kitchen was remodeled in 2020 and includes solid wood cabinetry, stone counters, a dishwasher, microwave, range, and refrigerator. Central heating and air conditioning, ceiling fans, updated fixtures, and block construction add to the home's functional design. Recent improvements include a 2023 shingle roof, 2022 air-conditioning system, 2022 replumbing, and a 2022 water heater.
The property occupies 0.14 acres at 2827 Coral Reef Drive in Orlando's 32826 ZIP code. A fully fenced backyard provides private outdoor space, while the home also includes a patio and sliding doors. Public water, septic service, and cable availability are listed for the property. R-2 zoning and the duplex configuration support residential income-property use, subject to applicable requirements.
The property occupies 0.14 acres at 2827 Coral Reef Drive in Orlando's 32826 ZIP code. A fully fenced backyard provides private outdoor space, while the home also includes a patio and sliding doors. Public water, septic service, and cable availability are listed for the property. R-2 zoning and the duplex configuration support residential income-property use, subject to applicable requirements.
Key Highlights
- 837‑square‑foot half duplex with 2 bedrooms and 2 bathrooms
- 0.14‑acre lot with a fully fenced backyard and patio
- Kitchen remodeled in 2020 with stone counters and stainless steel appliances
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
$11,875
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
4.95%
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%
$237,500
$237.5K
Cap Rate 7%
$169,643
$169.6K
Cap Rate 9%
$131,944
$131.9K
Market Conditions
NOI Build-Up for 837 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
$18.1K $21.60/SF
− Vacancy
−$1.1K −$1.33/SF
EGI
$17.0K $20.27/SF
− OpEx
−$5.1K −$6.08/SF
NOI
$11.9K $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%
$237,500
Cap Rate 7%
$169,643
Cap Rate 9%
$131,944
Alternative Uses
Best Use
Multifamily LT 5
$169.6K
$148.4K – $197.9K
NOI $11,875 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$155.0K
$135.6K – $180.8K
NOI $10,847 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$269.6K
$235.9K – $314.6K
NOI $18,874 @ 7.0% cap · market cap 7.87%
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
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 32826, FL
33,065
Population
10,714
Households
3.1
Avg Household Size
25
Median Age
34%
College-Educated
90%
High-School Grad
7.3 sq mi
ZIP Area
4,529
Density / Sq Mi
$61,784
Median Household Income
$27,066
Median Earnings
$1,478
Median Rent
$224,100
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?
Duplex - Move-in-ready residence with a renovated kitchen, ceramic tile flooring, and a private outdoor area.
Where is this duplex located?
The property is located at 2827 CORAL REEF Drive Orlando, FL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 837‑square‑foot half duplex with 2 bedrooms and 2 bathrooms; 0.14‑acre lot with a fully fenced backyard and patio; Kitchen remodeled in 2020 with stone counters and stainless steel appliances
