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    51 E 32Nd St Jacksonville, FL 32206

    View on Map
    Sponsored
    Pending
    $420,000

    MULTI_FAMILY - Jacksonville, FL

    Property size:
    2,268 SF
    Lot size:
    0.20 Acres
    Days on Market:
    6
    Last Refresh:
    Mar 22 at 9:06 am

    Property Features for 51 E 32Nd St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Rooms
    Bathroom 1, Bathroom 4, Bedroom 4, Bedroom 8, Bathroom 3, Bedroom 1, Bedroom 7, Bedroom 10, Bedroom 6, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 9
    Bedrooms
    10
    Bathrooms
    4
    APN
    133355-1000
    Parking
    2
    Parking features
    On Street, Driveway, RV, Assigned
    Appliances
    Dryer, Electric Oven, Microwave, Refrigerator, Washer
    Size
    2,268 SF
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Block, Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Lianne Habets

    The K Company Realty

    Listing agent Lianne Habets

    Listing date Mar 17, 2026

    MLS# 1071767 Listing URL

    Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turn-Key Jacksonville Multi-Family Investment

    This multi-family property in Jacksonville, FL, presents a turn-key investment opportunity with a gross monthly income of approximately $6387. The property is zoned for multi-family use and currently operates as a 10-bedroom rent-by-room rental. The units are furnished. Major renovations were completed in 2023. The roofs on all buildings are 8 years old. All water heaters were replaced in 2023. New AC units were installed in 2023 for units 59 and 51, with unit 55's AC scheduled for replacement in 2025. Two adjacent, similarly operated income-producing buildings are also available, potentially scaling to 29 total rentable rooms. The property features large lots with room to expand and add income opportunities. Amenities include balconies, a porch, a yard, and parking available via a driveway on a dead-end street. Two washers and dryers, along with all appliances, are provided. The kitchens and baths have been renovated and feature granite counters. The property size is 2268 square feet, situated on a 0.2-acre lot. This property offers an excellent opportunity for investors seeking immediate income and portfolio expansion.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.651828
    Latitude
    30.363993

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    FAQs

    What type of property is this?
    Multifamily property - Renovated multi-family property generating $6387 gross monthly income.
    Where is this multifamily property located?
    The property is located at 51 E 32Nd St Jacksonville, FL.
    What is the asking price?
    The asking price for this property is $420,000.
    What are key features of this property?
    This property features: - High-yield, turn-key investment generating $6387 gross monthly income.; - Fully renovated in 2023, operating as a 10-bedroom rent-by-room rental.; - Furnished units with renovated kitchens and baths featuring granite counters.
    (321) 216-8703
    Request Owner's contact information
    51 E 32Nd St Jacksonville, FL 32206
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    Jacksonville, FL 32206
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    51 E 32Nd St Jacksonville, FL 32206
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