Two-Unit Duplex with Screened
For Sale
$496,000
607-609 California Avenue, Saint Cloud, FL 34769
Each residence offers two bedrooms, two bathrooms, an open layout, and in-unit laundry appliances.
Property Size2,028 SF
Price / SF$244.58
Days on Market184
Property Features for 607-609 California Avenue
General Information
Standard status
Active
Size
2,028 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Amenities
attached screened porch
washer/dryer in each unit
Building Details
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
IRON VALLEY REAL ESTATE OSCEOLA
(407) 729-6837
Listed By:
Patricia McCabe · License #3348267
Source:
Realtygroupfl
Added: Feb 14
Changed: Aug 17
Last Checked: Aug 17 at 7:59AM
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 IRON VALLEY REAL ESTATE OSCEOLA
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,028 square feet and was built in 1985. Each residence includes two bedrooms, two bathrooms, an open floor plan, and an attached screened porch. Updated appliances and a washer and dryer are provided in both units, while long-term tenants are already in place.
The property is located at 607-609 California Avenue in St. Cloud, near the St. Cloud lakefront, walking paths, shopping, entertainment, dining, and medical services. The two-unit configuration and matching layouts provide a straightforward multifamily format with outdoor space connected to each residence.
The property is located at 607-609 California Avenue in St. Cloud, near the St. Cloud lakefront, walking paths, shopping, entertainment, dining, and medical services. The two-unit configuration and matching layouts provide a straightforward multifamily format with outdoor space connected to each residence.
Key Highlights
- Two‑unit duplex with 2,028 square feet, built in 1985
- Each unit has 2 bedrooms and 2 bathrooms
- Attached screened porch serving each unit
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
$27,048
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
5.45%
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%
$540,960
$541.0K
Cap Rate 7%
$386,400
$386.4K
Cap Rate 9%
$300,533
$300.5K
Market Conditions
NOI Build-Up for 2,028 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
$41.4K $20.40/SF
− Vacancy
−$2.7K −$1.35/SF
EGI
$38.6K $19.05/SF
− OpEx
−$11.6K −$5.72/SF
NOI
$27.0K $13.34/SF
Area
Osceola 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%
$540,960
Cap Rate 7%
$386,400
Cap Rate 9%
$300,533
Alternative Uses
Best Use
Multifamily LT 5
$386.4K
$338.1K – $450.8K
NOI $27,048 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$355.8K
$311.3K – $415.1K
NOI $24,904 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$627.1K
$548.7K – $731.6K
NOI $43,896 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 34769, FL
27,594
Population
11,070
Households
2.5
Avg Household Size
40
Median Age
24%
College-Educated
89%
High-School Grad
10.6 sq mi
ZIP Area
2,603
Density / Sq Mi
$58,764
Median Household Income
$35,776
Median Earnings
$1,400
Median Rent
$271,800
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?
Duplex - Each residence offers two bedrooms, two bathrooms, an open layout, and in-unit laundry appliances.
Where is this duplex located?
The property is located at 607-609 California Avenue Saint Cloud, FL.
What is the asking price?
The asking price for this property is $496,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,028 square feet, built in 1985; Each unit has 2 bedrooms and 2 bathrooms; Attached screened porch serving each unit
