Updated Duplex With Two
292 S 3RD Street Lake Mary, FL 32746
For Sale
Under Contract
$429,900
MULTI_FAMILY - LAKE MARY, FL
Property Size1,929 SF
Lot Size0.34 Acres
Price / SF$222.86
Days on Market92
Property Features for 292 S 3RD Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- R-2
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4
- Parking features
- Driveway
- Pets allowed
- Yes
- Interior features
- Stone Counters, Thermostat
- Exterior features
- Sliding Doors
- Standard status
- Active Under Contract
- APN
- 16-20-30-503-0000-0110
- Size
- 1,929 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LOT 11 EVANSDALE NO 3 LAKE MARY PB 10 PG 54
- Tax Annual Amount
- 3571
Utilities
- Sewer type
- Septic Tank
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1976
- Floors in Building
- 1
- Building materials
- Block
- Roof type
- Shingle
Listing Agency:
SAND DOLLAR REALTY GROUP INC
(407) 389-7318
Listed By:
Zach Mitchell · License #3294931
(407) 920-6440
Added: Apr 26
Changed: Jul 23
Last Checked: Jul 26 at 4:06PM
MLS# O6402371
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 duplex for sale includes two separate units. Unit B features three bedrooms and two bathrooms and has been updated with a new kitchen, including custom shaker cabinets, quartz counters, and a new stainless steel appliance package, along with updated bathrooms, LVP flooring, and fresh paint throughout. Unit A offers two bedrooms and one bathroom with partial updates, including new quartz counters and tile floors, plus indoor laundry.
The building has new windows and new patio sliders. The roof was replaced in 2021, and the property is currently vacant and ready for new occupants.
The zoning is R-2. The property consists of a duplex configuration with approximately 1,929 square feet of total building area on a lot of about 0.34 acres.
The building has new windows and new patio sliders. The roof was replaced in 2021, and the property is currently vacant and ready for new occupants.
The zoning is R-2. The property consists of a duplex configuration with approximately 1,929 square feet of total building area on a lot of about 0.34 acres.
Key Highlights
- Duplex built in 1976 with two units: Unit B (3 bed, 2 bath) and Unit A (2 bed, 1 bath)
- Unit B: new kitchen with custom shaker cabinets, quartz counters, and stainless steel appliance package
- Unit B: updated bathrooms with new vanities, tile, fixtures, mirrors, and toilets; new LVP flooring and fresh paint throughout
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.4k | $20.40 |
| − Vacancy | −$2.6k | −$1.35 |
| EGI | $36.8k | $19.05 |
| − OpEx | −$11.0k | −$5.72 |
| NOI | $25.7k | $13.34 |
1,929 SF · lease $20.40/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$367.5K
$321.6K – $428.8K
NOI $25,728 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$548.9K
$480.3K – $640.4K
NOI $38,426 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex in Lake Mary offers a renovated 3-bedroom unit and a partially updated 2-bedroom unit with in-building laundry.
Where is this duplex located?
The property is located at 292 S 3RD Street Lake Mary, FL.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Duplex built in 1976 with two units: Unit B (3 bed, 2 bath) and Unit A (2 bed, 1 bath); Unit B: new kitchen with custom shaker cabinets, quartz counters, and stainless steel appliance package; Unit B: updated bathrooms with new vanities, tile, fixtures, mirrors, and toilets; new LVP flooring and fresh paint throughout
