Historic Duplex With Detached
For Sale
Under Contract
$460,000
1067 CHERRY Street, Jacksonville, FL 32205
MULTI_FAMILY - Jacksonville, FL
Property Size2,338 SF
Lot Size0.13 Acres
Price / SF$196.75
Days on Market11
Property Features for 1067 CHERRY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi Family
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 2
Parking features
On Street, Off Street
Appliances
Dishwasher, Dryer, Electric Range, Gas Range, Microwave, Refrigerator, Washer, Washer/Dryer Stacked
Subdivision
New Riverside
Lot features
Corner Lot, Historic Area
Middle school
Select One
Directions
From I-10 W: take exit 361 towards Roosevelt Blvd, turn R onto McDuff Ave, exit the roundabout onto Post St, turn R onto Cherry St, the home will be on your left.
Standard status
Active Under Contract
APN
0644870000
Size
2,338 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7966
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
original hardwood floors
in-unit laundry
ample storage
fenced side yard
picture rail molding
coved ceilings
original tile
built-ins
custom wood kitchen cabinetry
gas range
double ribbon driveway
large detached garage
Building Details
Year built
1941
Floors in Building
1
Number of units
2
Flooring type
Wood, Tile, Carpet
Listing Agency:
ROOT REALTY LLC
(904) 612-5477
Listed By:
ERICA SKIPPER
(904) 891-3775
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 13 at 2:06AM
MLS# 2158323
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.
Built in 1941, this 2,338-square-foot duplex occupies a 0.13-acre corner parcel in Jacksonville’s Riverside/Avondale historic district. The separately metered residences include a 3-bedroom, 2-bath upstairs unit and a 2-bedroom, 1-bath downstairs unit. A downstairs flex room adds adaptable interior space. Both units provide in-unit laundry, storage, wood flooring, tile, and carpet. Interior details include picture rail molding, coved ceilings, original tile, built-in cabinetry, custom wood kitchen cabinets, and a gas range. Central heating and central air serve the property.
The fenced side yard, double ribbon driveway, and large detached garage add useful exterior features. Parking is available off street and on street. Public water and public sewer serve the property, with nearby parks, restaurants, and shopping located minutes away.
The fenced side yard, double ribbon driveway, and large detached garage add useful exterior features. Parking is available off street and on street. Public water and public sewer serve the property, with nearby parks, restaurants, and shopping located minutes away.
Key Highlights
- 2,338 SF duplex on a 0.13‑acre corner lot
- Separate 3/2 upstairs and 2/1 downstairs residences
- Detached garage with double ribbon driveway
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
$21,953
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
4.77%
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%
$439,060
$439.1K
Cap Rate 7%
$313,614
$313.6K
Cap Rate 9%
$243,922
$243.9K
Market Conditions
NOI Build-Up for 2,338 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
$34.5K $14.76/SF
− Vacancy
−$3.1K −$1.35/SF
EGI
$31.4K $13.41/SF
− OpEx
−$9.4K −$4.02/SF
NOI
$22.0K $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%
$439,060
Cap Rate 7%
$313,614
Cap Rate 9%
$243,922
Alternative Uses
Best Use
Multifamily LT 5
$313.6K
$274.4K – $365.9K
NOI $21,953 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$247.1K
$216.2K – $288.3K
NOI $17,297 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$640.5K
$560.4K – $747.2K
NOI $44,833 @ 7.0% cap · market cap 9.75%
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
1,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
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 - Separate metering supports distinct upper- and lower-level residences with original hardwood floors.
Where is this duplex located?
The property is located at 1067 CHERRY Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 2,338 SF duplex on a 0.13‑acre corner lot; Separate 3/2 upstairs and 2/1 downstairs residences; Detached garage with double ribbon driveway
