Updated Duplex with Separate
For Sale
Under Contract
$279,900
2542 SPRING PARK Road, Jacksonville, FL 32207
Residential Income, Jacksonville, FL
Property Size2,132 SF
Lot Size0.21 Acres
Price / SF$131.29
Days on Market37
Property Features for 2542 SPRING PARK Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Parking Lot, Guest
Subdivision
Metes & Bounds
Directions
From Emerson St drive north on Spring Park Rd. Building is on the left.
Standard status
Active Under Contract
APN
1253920000
Size
2,132 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3999
Utilities
Heating system
Hot Water(Heating), Central, Electric (Heating)
Cooling system
Separate Meters, Central Air
Amenities
washer/dryer
Building Details
Year built
1954
Number of units
2
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
(904) 996-9115
Listed By:
RENEA LEE OSBORNE
(904) 803-6272
Added: Aug 12
Changed: Sep 12
Last Checked: Sep 17 at 2:06PM
MLS# 2159818
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 Jacksonville duplex contains 2,132 square feet on a 0.21-acre lot, with distinct entrances serving the upstairs and downstairs units. The property was built in 1954 with solid concrete block construction and includes two bathrooms and four bedrooms. Central air, electric heating, and hot water service are provided, with separate meters for the cooling systems.
Updates completed within the last six years include a roof replacement, downstairs A/C ductwork, a new A/C system, interior and exterior painting, new flooring, and kitchen cabinet improvements with quartz countertops. Washers and dryers are included. Parking features include a lot and guest parking, while the property's Jacksonville location places it within ZIP code 32207.
Updates completed within the last six years include a roof replacement, downstairs A/C ductwork, a new A/C system, interior and exterior painting, new flooring, and kitchen cabinet improvements with quartz countertops. Washers and dryers are included. Parking features include a lot and guest parking, while the property's Jacksonville location places it within ZIP code 32207.
Key Highlights
- 2,132‑square‑foot duplex on a 0.21‑acre lot
- Separate entrances for the upstairs and downstairs units
- Solid concrete block construction built in 1954
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
$20,019
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
7.15%
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%
$400,380
$400.4K
Cap Rate 7%
$285,986
$286.0K
Cap Rate 9%
$222,433
$222.4K
Market Conditions
NOI Build-Up for 2,132 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
$31.5K $14.76/SF
− Vacancy
−$2.9K −$1.35/SF
EGI
$28.6K $13.41/SF
− OpEx
−$8.6K −$4.02/SF
NOI
$20.0K $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%
$400,380
Cap Rate 7%
$285,986
Cap Rate 9%
$222,433
Alternative Uses
Best Use
Multifamily LT 5
$286.0K
$250.2K – $333.7K
NOI $20,019 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$225.3K
$197.2K – $262.9K
NOI $15,773 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$584.0K
$511.0K – $681.4K
NOI $40,883 @ 7.0% cap · market cap 14.61%
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
978
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
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
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Frequently Asked Questions
What type of property is this?
Duplex - Concrete block duplex with refreshed interiors, separate utility metering, and central air service.
Where is this duplex located?
The property is located at 2542 SPRING PARK Road Jacksonville, FL.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 2,132‑square‑foot duplex on a 0.21‑acre lot; Separate entrances for the upstairs and downstairs units; Solid concrete block construction built in 1954
