Duplex on Large
638 & 640 E PALMETTO AVENUE Longwood, FL 32750
638 & 640 E PALMETTO AVENUE, Longwood, FL, 32750
$285,000
For Sale
$285,000
Duplex with two units on a large lot, with tenants scheduled to move out within 10–14 days.
Property Size1,974 SF
Price / SF$144.38
Days on Market10
Property Features for 638 & 640 E PALMETTO AVENUE
General Information
- Standard status
- Active
- Size
- 1,974 SF
- Property subtype
- Half Duplex
Building Details
- Year Built
- 1986
Listing agency
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed by
Tim Malone · License #3310918
Source
Endlesssummerrealty
Added: Jul 14 Updated: Jul 21 at 3:44PM Checked: Jul 22 at 4:54AM
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 CHARLES RUTENBERG REALTY ORLANDO
Investment Insights
Based on property information with market context.
This duplex property in Longwood is configured as two separate sides, listed as 640 and 638 E Palmetto Avenue. Public remarks indicate the property has over 1,900 square feet under air, and it is being sold “as is.” Tenants are scheduled to move out in the next 10 to 14 days, which may allow for smoother transition for an owner-occupant or investor.
According to the provided remarks, the duplex sits on a large lot with a city park, Small World Park, directly behind the house.
The sellers’ stated process is “highest and best offer after 10 days,” and the property is offered as-is.
According to the provided remarks, the duplex sits on a large lot with a city park, Small World Park, directly behind the house.
The sellers’ stated process is “highest and best offer after 10 days,” and the property is offered as-is.
Key Highlights
- Duplex built in 1986 with two units on a large lot
- Over 1,900 sq ft under air
- Tenants scheduled to move out within 10–14 days
Local Financial Insights For Apartment 5plus
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 | $47.1k | $23.88 |
| − Vacancy | −$3.1k | −$1.55 |
| EGI | $44.1k | $22.33 |
| − OpEx | −$19.8k | −$10.05 |
| NOI | $24.2k | $12.28 |
1,974 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$376.1K
$329.1K – $438.8K
NOI $26,328 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$346.3K
$303.0K – $404.0K
NOI $24,241 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$561.7K
$491.5K – $655.4K
NOI $39,322 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex with two units on a large lot, with tenants scheduled to move out within 10–14 days.
Where is this duplex located?
The property is located at 638 & 640 E PALMETTO AVENUE Longwood, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Duplex built in 1986 with two units on a large lot; Over 1,900 sq ft under air; Tenants scheduled to move out within 10–14 days
