Duplex With New
For Sale
$190,000
1590 W 28TH Street, Jacksonville, FL 32209
MULTI_FAMILY - Jacksonville, FL
Property Size1,124 SF
Lot Size0.11 Acres
Price / SF$169.04
Days on Market102
Property Features for 1590 W 28TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 1
Parking
2
Parking features
Off Street, Driveway
Subdivision
Royal Terrace
Lot features
Cleared
Directions
Go north on Wilson street to 28th turn left duplex will be on the left.
Standard status
Active
APN
0854160000
Size
1,124 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2681
Utilities
Utilities
Cable Available
Cooling system
Wall/Window Unit(s), Window Unit(s)
Building Details
Year built
1953
Number of units
2
Building materials
Block
Listing Agency:
CAPTAIN KIRK PROPERTY MANAGEMENT
(904) 328-6736
Listed By:
CHRISTOPHER KIRK
(904) 527-9945
Added: May 4
Changed: Aug 3
Last Checked: Aug 13 at 6:06AM
MLS# 2144355
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.
Duplex in Jacksonville featuring block construction and wall/window AC units. The property contains two bedrooms and two bathrooms on the layout described in the rooms list, with off-street parking and a driveway. One unit is currently vacant and ready for a new tenant or owner occupancy, while the other unit is already rented and producing income. A brand-new roof has been installed, providing a key exterior update for the next owner.
The duplex sits on a 0.11-acre lot and includes 1,124 square feet of property size. Built in 1953, the property offers cable availability for utilities. The building is located at 1590 W 28TH Street, Jacksonville, FL 32209, in Duval County.
The duplex sits on a 0.11-acre lot and includes 1,124 square feet of property size. Built in 1953, the property offers cable availability for utilities. The building is located at 1590 W 28TH Street, Jacksonville, FL 32209, in Duval County.
Key Highlights
- Duplex with brand‑new roof plus one unit vacant and one unit rented
- Block construction duplex
- 0.11‑acre lot with 1,124 square feet property size
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
$10,554
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
5.55%
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%
$211,080
$211.1K
Cap Rate 7%
$150,771
$150.8K
Cap Rate 9%
$117,267
$117.3K
Market Conditions
NOI Build-Up for 1,124 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
$16.6K $14.76/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$15.1K $13.41/SF
− OpEx
−$4.5K −$4.02/SF
NOI
$10.6K $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%
$211,080
Cap Rate 7%
$150,771
Cap Rate 9%
$117,267
Alternative Uses
Best Use
Multifamily LT 5
$150.8K
$131.9K – $175.9K
NOI $10,554 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$118.8K
$104.0K – $138.6K
NOI $8,316 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$307.9K
$269.4K – $359.2K
NOI $21,554 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
355
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?
Duplex - Block duplex on a small lot with one unit vacant and one unit rented, plus a brand-new roof.
Where is this duplex located?
The property is located at 1590 W 28TH Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Duplex with brand‑new roof plus one unit vacant and one unit rented; Block construction duplex; 0.11‑acre lot with 1,124 square feet property size
