Casselberry Income Property
For Sale
$695,000
Pending
454 Lakeport Cove, Casselberry, FL 32707
Four detached homes on 0.85 acres with income potential.
Property Size4,040 SF
Lot Size0.85 Acres
Days on Market148
Property Features for 454 Lakeport Cove
General Information
Standard status
Pending
Size
4,040 SF
Lot size
0.85 Acres
Property subtype
Residential Income / Quadruplex
Zoning
R-9
Taxes and HOA fees
Annual Taxes
$9,907
Amenities
Central Air
Central
No
8
Blinds
Inside
Other
Square Feet
Public Records
Shingle
Slab
Block
Building Details
Year Built
1948
Listing Agency:
JULIAN PROPERTIES, INC.
(407) 694-5843
Listed By:
Bo Julian · License #641125
(407) 694-5843
Source:
Compass
Added: Mar 30
Changed: Aug 23
Last Checked: Aug 3 at 12:31PM
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 JULIAN PROPERTIES, INC.
Investment Insights
Based on property information with market context.
This property features a four-unit income-producing asset in Casselberry, within the Orlando MSA. The property includes four detached rental homes constructed with durable masonry. The roofs are approximately 4 years old. The property is situated on a 0.85-acre parcel and has a history of occupancy. The current rent roll is approximately $71,000 annually. The property offers value-add potential through rent growth, with current average rents below market at approximately $1,650 per unit. Comparable properties support higher rent rates per unit. Operationally, the property benefits from insurance costs of approximately $6,000 per year and minimal near-term capital expenditure requirements. This asset is suitable for investors seeking stable cash flow with upside in a high-growth Central Florida market. The walk score is 70, indicating it is very walkable, and the bike score is 48, indicating it is somewhat bikeable.
Key Highlights
- Income‑producing 4‑unit property in the desirable Casselberry area of Orlando MSA.
- Significant value‑add potential through rent growth; current rents are below market.
- Expansive 0.85‑acre parcel with four detached homes.
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
$53,884
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
7.75%
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%
$1,077,680
$1.1M
Cap Rate 7%
$769,771
$769.8K
Cap Rate 9%
$598,711
$598.7K
Market Conditions
NOI Build-Up for 4,040 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
$82.4K $20.40/SF
− Vacancy
−$5.4K −$1.35/SF
EGI
$77.0K $19.05/SF
− OpEx
−$23.1K −$5.72/SF
NOI
$53.9K $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%
$1,077,680
Cap Rate 7%
$769,771
Cap Rate 9%
$598,711
Alternative Uses
Best Use
Multifamily LT 5
$769.8K
$673.6K – $898.1K
NOI $53,884 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$708.7K
$620.2K – $826.9K
NOI $49,612 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,477 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 32707, FL
37,704
Population
17,499
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
92%
High-School Grad
9.6 sq mi
ZIP Area
3,928
Density / Sq Mi
$66,780
Median Household Income
$40,280
Median Earnings
$1,573
Median Rent
$305,000
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?
Quadplex - Four detached homes on 0.85 acres with income potential.
Where is this quadplex located?
The property is located at 454 Lakeport Cove Casselberry, FL.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Income‑producing 4‑unit property in the desirable Casselberry area of Orlando MSA.; Significant value‑add potential through rent growth; current rents are below market.; Expansive 0.85‑acre parcel with four detached homes.
