Two-Story Duplex with
For Sale
$675,000
1102 NW 3RD Avenue, Gainesville, FL 32601
Residential Income, GAINESVILLE, FL
Property Size2,826 SF
Lot Size0.11 Acres
Price / SF$238.85
Days on Market141
Property Features for 1102 NW 3RD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMF5
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bedroom 2, Bathroom 4, Bedroom 6, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 1
Interior features
Solid Wood Cabinets
Exterior features
Private Mailbox
Subdivision
BROWNS ADD -HICKSON REP
Directions
From NW 6th Street, head west on NW 3rd Ave. Continue for approximately 0.3 miles. The property will be on your right at 1102 NW 3rd Ave. From NW13th Street, head east on NW 3rd Ave. Continue for approximately 0.3 miles. The property will be on your right at 1102 NW 3rd Ave.
Standard status
Active
APN
13952-000-000
Size
2,826 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BROWN ADDN BK 11 PB A-64 HICKSON REPLAT PB B-50 LOT 26 OR 4587/0062
Tax Annual Amount
11228
Legal Description
BROWN ADDN BK 11 PB A-64 HICKSON REPLAT PB B-50 LOT 26 OR 4587/0062
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1958
Floors in Building
2
Number of units
3
Building materials
Frame
Roof type
Metal
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS · Coldwell Banker Real Estate
(352) 335-4999
Listed By:
Luis Rodriguez · License #3463219
(786) 512-3195
Added: Apr 9
Changed: Aug 27
Last Checked: Aug 27 at 2:06PM
MLS# GC539314
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 Gainesville residential income property includes a two-story duplex with 2,826 square feet and a detached one-bedroom, one-bath efficiency. The duplex contains two separate three-bedroom, one-bath units, each with its own living area, kitchen, and laundry setup. Original hardwood floors, solid wood cabinets, natural light, and large living spaces contribute to the property's existing character. The frame building was constructed in 1958 and has a metal roof with electric heating.
Set on 0.11 acres at 1102 NW 3rd Avenue, the property is near campus and includes mature trees and off-street parking. Public water and public sewer serve the site, which is zoned RMF5. A private mailbox and detached efficiency add to the property's functional configuration.
Set on 0.11 acres at 1102 NW 3rd Avenue, the property is near campus and includes mature trees and off-street parking. Public water and public sewer serve the site, which is zoned RMF5. A private mailbox and detached efficiency add to the property's functional configuration.
Key Highlights
- Two‑story duplex with two 3‑bedroom, 1‑bath units
- Detached 1‑bedroom, 1‑bath efficiency
- 2,826 square feet on a 0.11‑acre lot
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
$27,744
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
4.11%
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%
$554,880
$554.9K
Cap Rate 7%
$396,343
$396.3K
Cap Rate 9%
$308,267
$308.3K
Market Conditions
NOI Build-Up for 2,826 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
$42.4K $15.00/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$39.6K $14.03/SF
− OpEx
−$11.9K −$4.21/SF
NOI
$27.7K $9.82/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$554,880
Cap Rate 7%
$396,343
Cap Rate 9%
$308,267
Alternative Uses
Best Use
Multifamily LT 5
$396.3K
$346.8K – $462.4K
NOI $27,744 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$355.7K
$311.2K – $414.9K
NOI $24,896 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$699.9K
$612.5K – $816.6K
NOI $48,996 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,732
Businesses Nearby
Explore this area
Business Placement
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
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 - Residential income property near campus with two three-bedroom units and a detached efficiency.
Where is this duplex located?
The property is located at 1102 NW 3RD Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑story duplex with two 3‑bedroom, 1‑bath units; Detached 1‑bedroom, 1‑bath efficiency; 2,826 square feet on a 0.11‑acre lot
