Renovated Duplex with Separate
For Sale
$385,000
2337 GILMORE Street, Jacksonville, FL 32204
Residential Income, Jacksonville, FL
Property Size1,180 SF
Lot Size0.15 Acres
Price / SF$326.27
Days on Market110
Property Features for 2337 GILMORE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2
Fireplace
1
Appliances
Electric Cooktop
Subdivision
1661 Riverside
Lot features
Historic Area
Directions
Take I-10 to Stockton St. Take Stockton S. Turn left onto Gilmore St. Duplex is on the left.
Standard status
Active
APN
0915370000
Size
1,180 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4763
Utilities
Utilities
Electricity Available
Heating system
Varies by Unit (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Number of units
2
Listing Agency:
JPAR CITY AND BEACH
(904) 370-3500
Listed By:
SARAH REED
(904) 999-9125
Added: Jun 17
Changed: Oct 2
Last Checked: Oct 4 at 10:06AM
MLS# 2151069
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 duplex contains 1,180 square feet and was built in 1925. Both units were renovated in 2020 with new HVAC systems and ductwork, updated plumbing lines, new flooring, and refreshed kitchens with granite countertops and stainless steel appliances. Each kitchen includes space for a stackable washer and dryer, while central air serves the property. The building is fully occupied and includes a fireplace.
The 0.15-acre parcel features a large backyard that may accommodate additional parking or private outdoor space, subject to verification. Separate electric meters serve the units, while water and sewer are shared through one meter. CRO zoning permits residential or office use, offering flexibility for an owner-occupant or investor. The property is near Jacksonville’s 5 Points and King Street District areas.
The 0.15-acre parcel features a large backyard that may accommodate additional parking or private outdoor space, subject to verification. Separate electric meters serve the units, while water and sewer are shared through one meter. CRO zoning permits residential or office use, offering flexibility for an owner-occupant or investor. The property is near Jacksonville’s 5 Points and King Street District areas.
Key Highlights
- Duplex totaling 1,180 square feet on a 0.15‑acre parcel
- Both units renovated in 2020 with new HVAC systems and ductwork
- CRO zoning allows residential or office use
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
$11,080
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
2.88%
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%
$221,600
$221.6K
Cap Rate 7%
$158,286
$158.3K
Cap Rate 9%
$123,111
$123.1K
Market Conditions
NOI Build-Up for 1,180 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
$17.4K $14.76/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$15.8K $13.41/SF
− OpEx
−$4.7K −$4.02/SF
NOI
$11.1K $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%
$221,600
Cap Rate 7%
$158,286
Cap Rate 9%
$123,111
Alternative Uses
Best Use
Multifamily LT 5
$158.3K
$138.5K – $184.7K
NOI $11,080 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$124.7K
$109.1K – $145.5K
NOI $8,730 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$323.3K
$282.9K – $377.1K
NOI $22,628 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Updated interiors, central air, and CRO zoning support residential or office use.
Where is this duplex located?
The property is located at 2337 GILMORE Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Duplex totaling 1,180 square feet on a 0.15‑acre parcel; Both units renovated in 2020 with new HVAC systems and ductwork; CRO zoning allows residential or office use
