Duplex with Two Distinct
For Sale
$152,000
1044 W 28TH Street, Jacksonville, FL 32209
Two-unit layout includes a vacant main residence and an occupied rear unit.
Property Size1,186 SF
Price / SF$128.16
Days on Market10
Property Features for 1044 W 28TH Street
General Information
Standard status
Active
Size
1,186 SF
Property subtype
Duplex
Building Details
Year Built
1922
Listing Agency:
VIRTUALTY REAL ESTATE
Listed By:
MOSES R NAE
Source:
Endlesssummerrealty
Added: Aug 13
Changed: Aug 21
Last Checked: Aug 22 at 4:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of VIRTUALTY REAL ESTATE
Investment Insights
Based on property information with market context.
This duplex contains two separate residences: a front home with 3 bedrooms and 2 bathrooms, plus a rear unit with 1 bedroom and 1 bathroom. The property measures 1,186 square feet and was built in 1922. The front residence is vacant, while the rear unit is occupied and scheduled to be vacant on October 31, 2026.
Located at 1044 W 28TH Street in Jacksonville, the property is near schools, healthcare facilities, golf courses, major roads, and Downtown Jacksonville. The existing configuration accommodates owner occupancy in one unit with additional rental use in the other, subject to applicable requirements.
Located at 1044 W 28TH Street in Jacksonville, the property is near schools, healthcare facilities, golf courses, major roads, and Downtown Jacksonville. The existing configuration accommodates owner occupancy in one unit with additional rental use in the other, subject to applicable requirements.
Key Highlights
- Two‑unit duplex configuration with a 3‑bedroom, 2‑bathroom front home and a 1‑bedroom, 1‑bathroom rear unit
- 1,186 square feet of property space
- Front residence is currently vacant
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
$11,136
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
7.33%
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%
$222,720
$222.7K
Cap Rate 7%
$159,086
$159.1K
Cap Rate 9%
$123,733
$123.7K
Market Conditions
NOI Build-Up for 1,186 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
$17.5K $14.76/SF
− Vacancy
−$1.6K −$1.35/SF
EGI
$15.9K $13.41/SF
− OpEx
−$4.8K −$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%
$222,720
Cap Rate 7%
$159,086
Cap Rate 9%
$123,733
Alternative Uses
Best Use
Multifamily LT 5
$159.1K
$139.2K – $185.6K
NOI $11,136 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$125.3K
$109.7K – $146.2K
NOI $8,774 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$324.9K
$284.3K – $379.1K
NOI $22,743 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
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 - Two-unit layout includes a vacant main residence and an occupied rear unit.
Where is this duplex located?
The property is located at 1044 W 28TH Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $152,000.
What are key features of this property?
This property features: Two‑unit duplex configuration with a 3‑bedroom, 2‑bathroom front home and a 1‑bedroom, 1‑bathroom rear unit; 1,186 square feet of property space; Front residence is currently vacant
