Updated Duplex with Attached
For Sale
$399,999
5221 N RONALD REAGAN Boulevard, Sanford, FL 32773
Residential Income, SANFORD, FL
Property Size1,352 SF
Lot Size0.31 Acres
Price / SF$295.86
Days on Market135
Property Features for 5221 N RONALD REAGAN Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
A-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4
Interior features
Ceiling Fans(s)
Exterior features
Sidewalk
Appliances
Range, Refrigerator
Directions
From 17-92, turn RT on County Home Rd, turn left on Ronald Reagan Blvd to property, property will be on the right.
Subdivision
32773 - Sanford
Standard status
Active
APN
23-20-30-300-0170-0000
Size
1,352 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SEC 23 TWP 20S RGE 30E BEG 382.8 FT S & 210 FT W OF NE COR OF NW 1/4 OF NW 1/4 RUN S 188 FT E 110 FT N 105 FT W 10 FT N 83 FT W 100 FT TO BEG (LESS RD)
Tax Annual Amount
1529
Legal Description
SEC 23 TWP 20S RGE 30E BEG 382.8 FT S & 210 FT W OF NE COR OF NW 1/4 OF NW 1/4 RUN S 188 FT E 110 FT N 105 FT W 10 FT N 83 FT W 100 FT TO BEG (LESS RD)
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Well
Amenities
ceiling fans
attached carport
fenced backyard
laundry hookups
Building Details
Year built
1953
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Michelle Hose · License #3471440
(410) 241-0708
Added: Apr 22
Changed: Sep 2
Last Checked: Sep 3 at 11:06AM
MLS# G5111424
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 contains two renovated residences, each arranged with two bedrooms and one bathroom. The improvements were completed in December 2024 and include central HVAC, upgraded electrical service and panels, replacement water heaters, refreshed kitchens and bathrooms, luxury vinyl plank flooring, new windows and doors, updated fixtures, and interior and exterior paint. A new shingle roof was installed in 2024. Each unit also has an attached carport, fenced backyard, and laundry hookups.
The property occupies 0.31 acres and provides 1,352 square feet of building area. Both units are leased. The Sanford location offers access to Seminole State College, Orlando Sanford International Airport, Highway 17-92, and the 417 Expressway. The property is served by a well and septic tank, with water available noted among the utilities.
The property occupies 0.31 acres and provides 1,352 square feet of building area. Both units are leased. The Sanford location offers access to Seminole State College, Orlando Sanford International Airport, Highway 17-92, and the 417 Expressway. The property is served by a well and septic tank, with water available noted among the utilities.
Key Highlights
- Duplex with 2 two‑bedroom, one‑bath units
- Both units are currently leased
- Remodel completed December 2024
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
$18,032
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
4.51%
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%
$360,640
$360.6K
Cap Rate 7%
$257,600
$257.6K
Cap Rate 9%
$200,356
$200.4K
Market Conditions
NOI Build-Up for 1,352 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
$27.6K $20.40/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$25.8K $19.05/SF
− OpEx
−$7.7K −$5.72/SF
NOI
$18.0K $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%
$360,640
Cap Rate 7%
$257,600
Cap Rate 9%
$200,356
Alternative Uses
Best Use
Multifamily LT 5
$257.6K
$225.4K – $300.5K
NOI $18,032 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$237.2K
$207.5K – $276.7K
NOI $16,603 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$384.7K
$336.7K – $448.9K
NOI $26,932 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
313
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 - Two leased residences offer renovated interiors, private outdoor areas, and separate laundry hookups.
Where is this duplex located?
The property is located at 5221 N RONALD REAGAN Boulevard Sanford, FL.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Duplex with 2 two‑bedroom, one‑bath units; Both units are currently leased; Remodel completed December 2024
