Duplex with Detached
For Sale
$420,000
1067 CHERRY Street, Jacksonville, FL 32205
Residential Income, Jacksonville, FL
Property Size2,338 SF
Lot Size0.13 Acres
Price / SF$179.64
Days on Market61
Property Features for 1067 CHERRY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 2
Parking features
On Street, Off Street
Appliances
Dishwasher, Dryer, Electric Range, Gas Range, Microwave, Refrigerator, Washer, Washer/Dryer Stacked
Subdivision
New Riverside
Lot features
Corner Lot, Historic Area
Directions
From I-10 W: take exit 361 towards Roosevelt Blvd, turn R onto McDuff Ave, exit the roundabout onto Post St, turn R onto Cherry St, the home will be on your left.
Standard status
Active
APN
0644870000
Size
2,338 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7966
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
fenced side yard
detached garage
Building Details
Year built
1941
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood, Carpet
Listing Agency:
ROOT REALTY LLC
(904) 612-5477
Listed By:
ERICA SKIPPER
(904) 891-3775
Added: Aug 3
Changed: Oct 2
Last Checked: Oct 2 at 7:06PM
MLS# 2158323
Copyright © 2026 realMLS. 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.
Built in 1941, this 2,338-square-foot duplex occupies a 0.13-acre corner lot and includes two separately metered residences. The lower unit offers a 2/1 layout with a flex room, custom wood kitchen cabinetry, a gas range, built-ins, and two closets in the primary bedroom. The upper unit provides a 3/2 configuration with picture rail molding, coved ceilings, and original tile in the hall bathroom. Both units feature original hardwood floors, in-unit laundry, ample storage, and access to the fenced side yard.
A double ribbon driveway leads to a large detached garage, while parking is also available on and off street. The property is located in Jacksonville’s Riverside/Avondale historic district, with parks, restaurants, and shopping described as minutes away. The roof is scheduled for replacement before closing with an acceptable offer.
A double ribbon driveway leads to a large detached garage, while parking is also available on and off street. The property is located in Jacksonville’s Riverside/Avondale historic district, with parks, restaurants, and shopping described as minutes away. The roof is scheduled for replacement before closing with an acceptable offer.
Key Highlights
- Two‑unit duplex with 2/1 lower residence and 3/2 upper residence
- 2,338 square feet on a 0.13‑acre corner lot
- Separate electric metering for 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
$21,953
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
5.23%
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%
$439,060
$439.1K
Cap Rate 7%
$313,614
$313.6K
Cap Rate 9%
$243,922
$243.9K
Market Conditions
NOI Build-Up for 2,338 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
$34.5K $14.76/SF
− Vacancy
−$3.1K −$1.35/SF
EGI
$31.4K $13.41/SF
− OpEx
−$9.4K −$4.02/SF
NOI
$22.0K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$439,060
Cap Rate 7%
$313,614
Cap Rate 9%
$243,922
Alternative Uses
Best Use
Multifamily LT 5
$313.6K
$274.4K – $365.9K
NOI $21,953 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$247.1K
$216.2K – $288.3K
NOI $17,297 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$640.5K
$560.4K – $747.2K
NOI $44,833 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units feature in-unit laundry, storage, and access to a fenced side yard.
Where is this duplex located?
The property is located at 1067 CHERRY Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Two‑unit duplex with 2/1 lower residence and 3/2 upper residence; 2,338 square feet on a 0.13‑acre corner lot; Separate electric metering for each unit
