Residential Income Property with
New
For Sale
$230,000
328 E EVERGREEN AVENUE, Longwood, FL 32750
Half-duplex offering updated interiors, private outdoor space, and no HOA restrictions.
Property Size990 SF
Price / SF$232.32
Days on Market7
Property Features for 328 E EVERGREEN AVENUE
General Information
Standard status
Active
Size
990 SF
Property subtype
Half Duplex
Building Details
Year Built
1970
Listing Agency:
HOMEVEST REALTY
(407) 897-5400
Listed By:
Erica Diaz · License #3301261
(407) 952-0624
Source:
Dennisrealty
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 22 at 4:02PM
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 HOMEVEST REALTY
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2-bathroom half-duplex with approximately 990 square feet of living area. The layout includes a combined living and dining area, two bedrooms, and two full bathrooms with shower/tub combinations. An upgraded kitchen provides contemporary finishes and substantial cabinet storage. Outside, the property includes a fully fenced backyard and a covered one-car carport.
There is no HOA, providing flexibility for both owner occupancy and investment use. The property is positioned near SR 434, I-4, shopping, dining, schools, and other major roadways, with access to Downtown Orlando and surrounding Central Florida communities. Built in 1970, the home combines a practical floor plan with established residential improvements and convenient regional access.
There is no HOA, providing flexibility for both owner occupancy and investment use. The property is positioned near SR 434, I-4, shopping, dining, schools, and other major roadways, with access to Downtown Orlando and surrounding Central Florida communities. Built in 1970, the home combines a practical floor plan with established residential improvements and convenient regional access.
Key Highlights
- 2‑bedroom, 2‑bathroom half‑duplex
- Approximately 990 square feet of living area
- Upgraded kitchen with modern finishes and ample cabinet storage
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
$12,157
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
5.29%
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%
$243,140
$243.1K
Cap Rate 7%
$173,671
$173.7K
Cap Rate 9%
$135,078
$135.1K
Market Conditions
NOI Build-Up for 990 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
$23.6K $23.88/SF
− Vacancy
−$1.5K −$1.55/SF
EGI
$22.1K $22.33/SF
− OpEx
−$9.9K −$10.05/SF
NOI
$12.2K $12.28/SF
Area
Seminole County, FL
Vacancy
6.50%
Lease Rate
$23.88 /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%
$243,140
Cap Rate 7%
$173,671
Cap Rate 9%
$135,078
Alternative Uses
Best Use
Apartment 5plus
$173.7K
$152.0K – $202.6K
NOI $12,157 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.7K
$246.5K – $328.7K
NOI $19,721 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,651
Businesses Nearby
Explore this area
Business Placement
Demographics for 32750, FL
25,261
Population
10,541
Households
2.4
Avg Household Size
43
Median Age
37%
College-Educated
93%
High-School Grad
11.4 sq mi
ZIP Area
2,216
Density / Sq Mi
$85,227
Median Household Income
$48,311
Median Earnings
$1,633
Median Rent
$350,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Half-duplex offering updated interiors, private outdoor space, and no HOA restrictions.
Where is this residential income property located?
The property is located at 328 E EVERGREEN AVENUE Longwood, FL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom half‑duplex; Approximately 990 square feet of living area; Upgraded kitchen with modern finishes and ample cabinet storage
