Two-Bedroom Condo Investment
For Sale
$145,000
11-3600 Lenin Peak Ct, Jacksonville, FL 32210
Two-bedroom, two-bath condominium offering a residential income property configuration.
Property Size940 SF
Price / SF$154.26
Days on Market637
Property Features for 11-3600 Lenin Peak Ct
General Information
Standard status
Active
Size
940 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,923
Listing Agency:
jpar city and beach
(904) 370-3500
Listed By:
SARAH MEDINA-CLARK · License #3328125
(904) 576-4123
Source:
Exprealty
Added: Dec 6, 2024
Changed: Aug 31
Last Checked: Sep 1 at 8:07PM
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 jpar city and beach
Investment Insights
Based on property information with market context.
This condominium at 11-3600 Lenin Peak Ct in Jacksonville, Florida, provides a two-bedroom, two-bath layout within a residential income property classification. The unit contains 940 square feet and may also suit a future homeowner, as reflected in the available property information.
Key Highlights
- Two‑bedroom condominium
- Two bathrooms
- 940 square feet
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
$6,954
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
4.80%
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%
$139,080
$139.1K
Cap Rate 7%
$99,343
$99.3K
Cap Rate 9%
$77,267
$77.3K
Market Conditions
NOI Build-Up for 940 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
$14.0K $14.88/SF
− Vacancy
−$1.3K −$1.43/SF
EGI
$12.6K $13.45/SF
− OpEx
−$5.7K −$6.05/SF
NOI
$7.0K $7.40/SF
Area
ZIP 32210
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$139,080
Cap Rate 7%
$99,343
Cap Rate 9%
$77,267
Alternative Uses
Best Use
Apartment 5plus
$99.3K
$86.9K – $115.9K
NOI $6,954 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$257.5K
$225.3K – $300.4K
NOI $18,025 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 32210, FL
66,415
Population
29,198
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
21.9 sq mi
ZIP Area
3,033
Density / Sq Mi
$58,215
Median Household Income
$36,997
Median Earnings
$1,205
Median Rent
$205,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium offering a residential income property configuration.
Where is this residential income property located?
The property is located at 11-3600 Lenin Peak Ct Jacksonville, FL.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two‑bedroom condominium; Two bathrooms; 940 square feet
