Updated Duplex with Private
For Sale
$499,900
787 LINCOLN PARKWAY, Oviedo, FL 32765
Each residence includes in-unit laundry, designated parking, and a two-bedroom, two-bath layout.
Property Size1,872 SF
Price / SF$267.04
Days on Market16
Property Features for 787 LINCOLN PARKWAY
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Duplex
Building Details
Year Built
1988
Listing Agency:
KELLER WILLIAMS ADVANTAGE REALTY
(407) 977-7600
Listed By:
Sandy Jablonski · License #3103781
Source:
Endlesssummerrealty
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 28 at 11:53AM
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 KELLER WILLIAMS ADVANTAGE REALTY
Investment Insights
Based on property information with market context.
This 1,872-square-foot duplex contains two matching residences, each measuring 936 square feet with two bedrooms and two bathrooms. Both units include interior laundry, cabinetry, appliances, and tile flooring, while designated parking is located at the front. The property was built in 1988 and has received substantial system updates, including new drain fields in 2023, plumbing repiping in 2022, new ductwork in 2021, and updated AC units in 2024 and 2018. One new hot water tank was installed in 2024, and a new roof will be installed before closing.
The duplex is positioned behind 795 Lincoln Parkway along an access road shared with two other duplexes. The setting has no through traffic and includes private parking. Unit 787 is vacant and available for showing; Unit 789 is tenant occupied. The property is zoned for Oviedo schools and is near major expressways, shopping, and Oviedo Mall.
The duplex is positioned behind 795 Lincoln Parkway along an access road shared with two other duplexes. The setting has no through traffic and includes private parking. Unit 787 is vacant and available for showing; Unit 789 is tenant occupied. The property is zoned for Oviedo schools and is near major expressways, shopping, and Oviedo Mall.
Key Highlights
- Two 936‑square‑foot units, totaling 1,872 square feet
- Each unit offers 2 bedrooms and 2 bathrooms
- New drain fields installed in 2023; plumbing repiped in 2022
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
$24,968
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
4.99%
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%
$499,360
$499.4K
Cap Rate 7%
$356,686
$356.7K
Cap Rate 9%
$277,422
$277.4K
Market Conditions
NOI Build-Up for 1,872 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
$38.2K $20.40/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$35.7K $19.05/SF
− OpEx
−$10.7K −$5.72/SF
NOI
$25.0K $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%
$499,360
Cap Rate 7%
$356,686
Cap Rate 9%
$277,422
Alternative Uses
Best Use
Multifamily LT 5
$356.7K
$312.1K – $416.1K
NOI $24,968 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$328.4K
$287.4K – $383.2K
NOI $22,989 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$532.7K
$466.1K – $621.5K
NOI $37,290 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,161
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes in-unit laundry, designated parking, and a two-bedroom, two-bath layout.
Where is this duplex located?
The property is located at 787 LINCOLN PARKWAY Oviedo, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two 936‑square‑foot units, totaling 1,872 square feet; Each unit offers 2 bedrooms and 2 bathrooms; New drain fields installed in 2023; plumbing repiped in 2022
