New Construction Duplex with
New
For Sale
$750,000
644 and 646 E Franklin Street, Oviedo, FL 32765
Two separately metered residences offer modern layouts, private outdoor space, and individual parking accommodations.
Property Size3,016 SF
Price / SF$248.67
Days on Market7
Property Features for 644 and 646 E Franklin Street
General Information
Standard status
Active
Size
3,016 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
covered back porch
Building Details
Year Built
2026
Buildings
1
Listing Agency:
EMPIRE NETWORK REALTY
(407) 901-1011
Listed By:
Edmundo Gouveia Tavares
Source:
Realtygroupfl
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 11 at 10:19AM
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 EMPIRE NETWORK REALTY
Investment Insights
Based on property information with market context.
This 3,016-square-foot duplex is under construction with a projected 2026 completion and includes two independently metered residences. Each 1,508-square-foot unit features three bedrooms, two full bathrooms, and an open arrangement linking the family room, dining area, and kitchen. Both residences also include an attached 2-car garage, oversized driveway, and covered rear porch.
The property is located near downtown Oviedo, with access to parks, dining, and shopping. Nearby routes include SR 434 and SR 426, with UCF, Research Park, Oviedo on the Park, and Oviedo Medical Center also identified in the surrounding area. The property is zoned for Lawton Elementary, Jackson Heights Middle, and Oviedo High School.
The property is located near downtown Oviedo, with access to parks, dining, and shopping. Nearby routes include SR 434 and SR 426, with UCF, Research Park, Oviedo on the Park, and Oviedo Medical Center also identified in the surrounding area. The property is zoned for Lawton Elementary, Jackson Heights Middle, and Oviedo High School.
Key Highlights
- 3,016 SF duplex under construction with 2026 year built
- Each unit measures 1,508 sq ft with 3 bedrooms and 2 full bathrooms
- Attached 2‑car garage included with 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
$40,226
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
5.36%
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%
$804,520
$804.5K
Cap Rate 7%
$574,657
$574.7K
Cap Rate 9%
$446,956
$447.0K
Market Conditions
NOI Build-Up for 3,016 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
$61.5K $20.40/SF
− Vacancy
−$4.1K −$1.35/SF
EGI
$57.5K $19.05/SF
− OpEx
−$17.2K −$5.72/SF
NOI
$40.2K $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%
$804,520
Cap Rate 7%
$574,657
Cap Rate 9%
$446,956
Alternative Uses
Best Use
Multifamily LT 5
$574.7K
$502.8K – $670.4K
NOI $40,226 @ 7.0% cap · market cap 5.36%
Second Best
Apartment 5plus
$529.1K
$463.0K – $617.3K
NOI $37,037 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$858.3K
$751.0K – $1.00M
NOI $60,079 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 32765, FL
65,228
Population
23,389
Households
2.8
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
39.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$99,161
Median Household Income
$48,595
Median Earnings
$1,870
Median Rent
$418,600
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 - Two separately metered residences offer modern layouts, private outdoor space, and individual parking accommodations.
Where is this duplex located?
The property is located at 644 and 646 E Franklin Street Oviedo, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 3,016 SF duplex under construction with 2026 year built; Each unit measures 1,508 sq ft with 3 bedrooms and 2 full bathrooms; Attached 2‑car garage included with each unit
