Dual-Key Duplex
For Sale
$270,000
311 W ASHLEY Street, Jacksonville, FL 32202
MULTI_FAMILY - Jacksonville, FL
Property Size1,026 SF
Price / SF$263.16
Days on Market69
Property Features for 311 W ASHLEY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Condominium
Bedrooms
1
Rooms
Bedroom 1
Parking features
Assigned, Parking Lot, On Street
Appliances
Electric Cooktop, Electric Water Heater, Microwave, Refrigerator
Subdivision
Residences At City Place
View
City
Directions
From I-95, take Exit 353B toward W Union St. Continue straight on W Union St. Right on N Laura St. Right on W Ashley St, City Place will be on your right. Street parking via ParkMobile app, M-F 8am-6pm.
Standard status
Active
APN
0739030170
Size
1,026 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2133
HOA Fee
$951 Monthly
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
fitness center
clubhouse
elevators
key-card entry
laundry
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Listing Agency:
JPAR CITY AND BEACH
(904) 370-3500
Listed By:
Amber L'Esperance · License #3370601
(904) 370-3540
Added: Jun 6
Changed: Jul 30
Last Checked: Aug 13 at 12:06AM
MLS# 2149215
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 dual-key duplex condo is designed with two private units behind one main entry door, laid out as a dual-key plan centered on a spacious 1BR corner suite. The property is described as fully furnished and turnkey-ready. It is set on a single deeded corner parcel and includes built-in living conveniences such as central heating and central air, with electric heating and an electric water heater. Appliances listed include an electric cooktop, microwave, and refrigerator.
Located at 311 W Ashley Street in Downtown Jacksonville, the residence is positioned on the 7th floor and is described as offering elevated city views from Residences at City Place. Building amenities include a fitness center, clubhouse, elevators, key-card entry, and laundry. Parking is listed as assigned parking lot and on-street spaces, and the water source is public.
The property is identified as a cash transaction in the remarks. The current configuration holds two doors under one deed.
Located at 311 W Ashley Street in Downtown Jacksonville, the residence is positioned on the 7th floor and is described as offering elevated city views from Residences at City Place. Building amenities include a fitness center, clubhouse, elevators, key-card entry, and laundry. Parking is listed as assigned parking lot and on-street spaces, and the water source is public.
The property is identified as a cash transaction in the remarks. The current configuration holds two doors under one deed.
Key Highlights
- Dual‑key layout with 2 private units behind 1 main entry door
- 7th‑floor corner condo with elevated city views
- 1026 SF condo property
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
$9,634
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
3.57%
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%
$192,680
$192.7K
Cap Rate 7%
$137,629
$137.6K
Cap Rate 9%
$107,044
$107.0K
Market Conditions
NOI Build-Up for 1,026 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
$15.1K $14.76/SF
− Vacancy
−$1.4K −$1.35/SF
EGI
$13.8K $13.41/SF
− OpEx
−$4.1K −$4.02/SF
NOI
$9.6K $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%
$192,680
Cap Rate 7%
$137,629
Cap Rate 9%
$107,044
Alternative Uses
Best Use
Multifamily LT 5
$137.6K
$120.4K – $160.6K
NOI $9,634 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$108.4K
$94.9K – $126.5K
NOI $7,591 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$281.1K
$245.9K – $327.9K
NOI $19,675 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 32202, FL
6,544
Population
2,789
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
78%
High-School Grad
2.0 sq mi
ZIP Area
3,272
Density / Sq Mi
$40,070
Median Household Income
$30,938
Median Earnings
$1,024
Median Rent
$229,100
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 - Dual-key setup with two private units behind one entry in a 7th-floor corner condo with public utilities.
Where is this duplex located?
The property is located at 311 W ASHLEY Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Dual‑key layout with 2 private units behind 1 main entry door; 7th‑floor corner condo with elevated city views; 1026 SF condo property
