Downtown
For Sale
Under Contract
$410,000
1562 MORGAN Street, Jacksonville, FL 32209
Residential Income, Jacksonville, FL
Property Size2,776 SF
Lot Size0.14 Acres
Price / SF$147.69
Days on Market237
Property Features for 1562 MORGAN Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 7, Bedroom 6
Parking features
Off Street, Parking Lot
Security features
Security System
Subdivision
**verifying Subd**
Lot features
Cleared
Directions
From Edgewood Ave S, turn right onto W Beaver St. Turn left onto Acorn St. Right on Morgan
Standard status
Active Under Contract
APN
0758720000
Size
2,776 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1414
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1971
Floors in Building
1
Number of units
4
Building materials
Concrete
Listing Agency:
KELLER WILLIAMS FIRST COAST REALTY · Keller Williams Realty
(904) 541-0180
Listed By:
ERIC RICE · License #SL3421048
(904) 229-2619
Added: Jan 14
Changed: Sep 1
Last Checked: Sep 8 at 7:06AM
MLS# 2125138
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.
This concrete quadplex contains four units within 2,776 square feet on a 0.14-acre parcel. Built in 1971, the property includes bedrooms and bathrooms across the residential layout, with wall/window and window unit cooling. Off-street parking and a parking lot are provided, and the property is connected to public sewer.
Located in downtown Jacksonville, the property is near restaurants, shops, entertainment, and major employers. Its four-unit configuration supports both investor ownership and an owner-occupant arrangement, with the potential for the owner to reside in one unit while renting the others.
Located in downtown Jacksonville, the property is near restaurants, shops, entertainment, and major employers. Its four-unit configuration supports both investor ownership and an owner-occupant arrangement, with the potential for the owner to reside in one unit while renting the others.
Key Highlights
- Four‑unit quadplex totaling 2,776 square feet
- 0.14‑acre parcel in downtown Jacksonville
- Concrete construction completed in 1971
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
$26,066
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
6.36%
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%
$521,320
$521.3K
Cap Rate 7%
$372,371
$372.4K
Cap Rate 9%
$289,622
$289.6K
Market Conditions
NOI Build-Up for 2,776 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
$41.0K $14.76/SF
− Vacancy
−$3.7K −$1.35/SF
EGI
$37.2K $13.41/SF
− OpEx
−$11.2K −$4.02/SF
NOI
$26.1K $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%
$521,320
Cap Rate 7%
$372,371
Cap Rate 9%
$289,622
Alternative Uses
Best Use
Multifamily LT 5
$372.4K
$325.8K – $434.4K
NOI $26,066 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$293.4K
$256.7K – $342.3K
NOI $20,538 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$760.5K
$665.4K – $887.2K
NOI $53,233 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
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?
Quadplex - Four-unit property with off-street parking, public sewer, and individual wall or window cooling units.
Where is this quadplex located?
The property is located at 1562 MORGAN Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 2,776 square feet; 0.14‑acre parcel in downtown Jacksonville; Concrete construction completed in 1971
