Six-Unit Duplex
For Sale
$1,200,000
Pending
642 E HARWOOD Street, Orlando, FL 32803
Commercial Sale, ORLANDO, FL
Property Size3,534 SF
Lot Size0.43 Acres
Days on Market20
Property Features for 642 E HARWOOD Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-2B/T/HP
Subdivision
N L MILLS ADD
Lot features
Corner Lot
Directions
I-4 W TO EXIT 84A L ON W COLONIAL R CATHCART L HARWOOD
Standard status
Pending
APN
25-22-29-5664-00-090
Size
3,534 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
N L MILLS ADDITION TO ORLANDO A/143 LOT9
Tax Annual Amount
15784
Legal Description
N L MILLS ADDITION TO ORLANDO A/143 LOT9
Utilities
Cooling system
Central Air
Amenities
on-site laundry
screened porches
gardens
Building Details
Year built
1952
Floors in Building
1
Number of units
6
Building materials
Block
Listing Agency:
SWANN REAL ESTATE INC
(386) 738-3688
Listed By:
J. Todd Swann · License #206141
(386) 717-6479
Added: Aug 10
Changed: Aug 20
Last Checked: Aug 29 at 10:06PM
MLS# V4950650
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 3,534-square-foot multifamily property includes three duplex buildings with six one-bedroom, one-bath units. Each residence features a kitchen with eating space, a great room, and a screened porch facing landscaped gardens. The buildings were constructed in 1952 with block construction and central air. Private covered parking is provided for each unit, and on-site laundry serves the residents. Water and sewer are included in the rent.
The property occupies a 0.43-acre corner lot at 642 E Harwood Street in Orlando. It is approximately 2 miles from Downtown Orlando and AdventHealth Orlando, 4 miles from Rollins College, and 4 miles from Winter Park. The R-2B/T/HP zoning designation and six-unit configuration define the property’s residential income profile.
The property occupies a 0.43-acre corner lot at 642 E Harwood Street in Orlando. It is approximately 2 miles from Downtown Orlando and AdventHealth Orlando, 4 miles from Rollins College, and 4 miles from Winter Park. The R-2B/T/HP zoning designation and six-unit configuration define the property’s residential income profile.
Key Highlights
- Six total one‑bedroom units across three duplex buildings
- 3,534 square feet on a 0.43‑acre corner lot
- Each unit includes a screened porch overlooking landscaped gardens
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
$50,137
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
4.18%
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%
$1,002,740
$1.0M
Cap Rate 7%
$716,243
$716.2K
Cap Rate 9%
$557,078
$557.1K
Market Conditions
NOI Build-Up for 3,534 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
$76.3K $21.60/SF
− Vacancy
−$4.7K −$1.33/SF
EGI
$71.6K $20.27/SF
− OpEx
−$21.5K −$6.08/SF
NOI
$50.1K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /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%
$1,002,740
Cap Rate 7%
$716,243
Cap Rate 9%
$557,078
Alternative Uses
Best Use
Multifamily LT 5
$716.2K
$626.7K – $835.6K
NOI $50,137 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$654.2K
$572.5K – $763.3K
NOI $45,797 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$1.14M
$996.1K – $1.33M
NOI $79,690 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
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 - Three duplex buildings offer one-bedroom residences with screened porches, covered parking, on-site laundry, and central air.
Where is this duplex located?
The property is located at 642 E HARWOOD Street Orlando, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Six total one‑bedroom units across three duplex buildings; 3,534 square feet on a 0.43‑acre corner lot; Each unit includes a screened porch overlooking landscaped gardens
