Updated Duplex with Two-Bedroom
For Sale
$425,000
9818 Vonna Jo Dr, Pensacola, FL 32506
Residential Income, Pensacola, FL
Property Size1,862 SF
Price / SF$228.25
Days on Market117
Property Features for 9818 Vonna Jo Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
Vonna Jo
Lot features
Interior Lot
Elementary school
Pleasant Grove
Middle school
BAILEY
High school
Escambia
Directions
Going South on Blue Angel Pkwy, turn Left on Dog Track , then Right on Vonna Jo Dr. Property will be on your Left.
Standard status
Active
APN
053S314000001018
Size
1,862 SF
Taxes and HOA fees
Tax Description
COMMENCING AT THE INTERSECTION OF THE NORTHERLY RIGHT OF WAY LINE OF GULF BEACH HIGHWAY (STATE ROAD 292) AND THE WESTERLY RIGHT OF WAY LINE OF DOG TRACK ROAD (STATE ROAD 297); THENCE NORTH 23 DEGREES 39 MINUTES 00 SECONDS WEST ALONG SAID WESTERLY RIGHT OF WAY LINE FOR 2739.72 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF VONNA JO DRIVE (66 FT R/W); THENCE SOUTH 66 DEGREES 19 MINUTES 43 SECONDS WEST ALONG SAID SOUTHERLY RIGHT OF WAY LINE FOR 199.66 FEET TO AN IRON ROD AND CAP AND POINT OF BEGINNING; THENCE CONTINUE SOUTH 66 DEGREES 19 MINUTES 43 SECONDS WEST ALONG THE SAME COURSE FOR 100.00 FEET TO AN IRON ROD; THENCE SOUTH 23 DEGREES 37 MINUTES 30 SECONDS EAST FOR 150.00 FEET TO AN IRON ROD AND CAP; THENCE NORTH 66 DEGREES 19 MINUTES 43 SECONDS EAST FOR 100.00 FEET TO AN IRON ROD AND CAP; THENCE NORTH 23 DEGREES 37 MINUTES 30 SECONDS WEST FOR 150.00 FEET TO THE POINT OF BEGINNING OR 8842 P 661
Legal Description
COMMENCING AT THE INTERSECTION OF THE NORTHERLY RIGHT OF WAY LINE OF GULF BEACH HIGHWAY (STATE ROAD 292) AND THE WESTERLY RIGHT OF WAY LINE OF DOG TRACK ROAD (STATE ROAD 297); THENCE NORTH 23 DEGREES 39 MINUTES 00 SECONDS WEST ALONG SAID WESTERLY RIGHT OF WAY LINE FOR 2739.72 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF VONNA JO DRIVE (66 FT R/W); THENCE SOUTH 66 DEGREES 19 MINUTES 43 SECONDS WEST ALONG SAID SOUTHERLY RIGHT OF WAY LINE FOR 199.66 FEET TO AN IRON ROD AND CAP AND POINT OF BEGINNING; THENCE CONTINUE SOUTH 66 DEGREES 19 MINUTES 43 SECONDS WEST ALONG THE SAME COURSE FOR 100.00 FEET TO AN IRON ROD; THENCE SOUTH 23 DEGREES 37 MINUTES 30 SECONDS EAST FOR 150.00 FEET TO AN IRON ROD AND CAP; THENCE NORTH 66 DEGREES 19 MINUTES 43 SECONDS EAST FOR 100.00 FEET TO AN IRON ROD AND CAP; THENCE NORTH 23 DEGREES 37 MINUTES 30 SECONDS WEST FOR 150.00 FEET TO THE POINT OF BEGINNING OR 8842 P 661
Utilities
Heating system
Central
Cooling system
Central Air, Multi Units
Building Details
Year built
1997
Number of units
2
Building materials
Concrete
Roof type
Shingle
Listing Agency:
Levin Rinke Realty
(850) 916-5050
Listed By:
Barbara Lewis · License #14845
(850) 741-8288
Added: May 14
Changed: Sep 2
Last Checked: Sep 7 at 10:06AM
MLS# 682610
Copyright © 2026 Pensacola 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.
Investment Insights
Based on property information with market context.
This 1,862-square-foot duplex, built in 1997, contains two two-bedroom, one-bath units. Both residences have received updates and ongoing maintenance. Unit B includes commercial-grade luxury vinyl plank flooring, refreshed cabinetry, new appliances, and a bathroom renovation completed in 2023. Unit A has updated appliances, refreshed cabinetry, and bathroom improvements. The property also features concrete construction, shingle roofing, central heating, central air, and newer HVAC systems and water heaters.
Exterior painting and updated lighting fixtures were completed in 2022. Tenants pay all utilities. The duplex is located in Pensacola near NAS Pensacola, shopping, dining, schools, and Gulf Coast beaches.
Exterior painting and updated lighting fixtures were completed in 2022. Tenants pay all utilities. The duplex is located in Pensacola near NAS Pensacola, shopping, dining, schools, and Gulf Coast beaches.
Key Highlights
- Two‑unit duplex totaling 1,862 square feet
- Each unit offers 2 bedrooms and 1 bath
- Unit B bathroom renovation completed in 2023
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
$18,326
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
4.31%
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%
$366,520
$366.5K
Cap Rate 7%
$261,800
$261.8K
Cap Rate 9%
$203,622
$203.6K
Market Conditions
NOI Build-Up for 1,862 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
$30.2K $16.20/SF
− Vacancy
−$4.0K −$2.14/SF
EGI
$26.2K $14.06/SF
− OpEx
−$7.9K −$4.22/SF
NOI
$18.3K $9.84/SF
Area
Escambia County, FL
Vacancy
13.21%
Lease Rate
$16.20 /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%
$366,520
Cap Rate 7%
$261,800
Cap Rate 9%
$203,622
Alternative Uses
Best Use
Multifamily LT 5
$261.8K
$229.1K – $305.4K
NOI $18,326 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$240.3K
$210.3K – $280.4K
NOI $16,824 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$546.5K
$478.2K – $637.6K
NOI $38,253 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 32506, FL
36,017
Population
16,625
Households
2.2
Avg Household Size
39
Median Age
24%
College-Educated
88%
High-School Grad
30.6 sq mi
ZIP Area
1,177
Density / Sq Mi
$59,978
Median Household Income
$36,216
Median Earnings
$1,280
Median Rent
$200,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with updated interiors, separate systems, and tenant-paid utilities in Pensacola.
Where is this duplex located?
The property is located at 9818 Vonna Jo Dr Pensacola, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,862 square feet; Each unit offers 2 bedrooms and 1 bath; Unit B bathroom renovation completed in 2023
