Two-Home Multifamily
For Sale
$327,400
11419 Bocephus Lane, Jacksonville, FL 32219
Separate residences with independent utilities offer flexible multigenerational or rental-use arrangements.
Property Size2,510 SF
Lot Size2.50 Acres
Days on Market99
Property Features for 11419 Bocephus Lane
General Information
Standard status
Active
Size
2,510 SF
Lot size
2.50 Acres
Property subtype
Residential Income
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,131
Amenities
private pond
firepit
covered pavilion
Building Details
Building Size
2,510 SF
Year Built
1986
Buildings
2
Stories
1
Units
2
Listing Agency:
BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY
(904) 699-3166
Listed By:
HELEN M KIZER PA
(904) 699-3166
Source:
Bluekeypro
Added: May 7
Changed: Aug 10
Last Checked: Aug 12 at 12:06PM
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 BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY
Investment Insights
Based on property information with market context.
This multifamily property includes two fully functional homes on 2.5 acres. Each residence has its own well, septic system, and electricity, allowing the homes to operate independently. The layout can accommodate extended-family living or an arrangement with one residence occupied and the other rented.
The property is accessed by a private road and includes a private pond, firepit, and covered pavilion. The land provides room for gardening, hobbies, and outdoor use. Both homes date to 1986, providing a two-residence configuration within a private, spacious setting in Jacksonville.
The property is accessed by a private road and includes a private pond, firepit, and covered pavilion. The land provides room for gardening, hobbies, and outdoor use. Both homes date to 1986, providing a two-residence configuration within a private, spacious setting in Jacksonville.
Key Highlights
- Two fully functional homes situated on 2.5 acres
- Each residence has its own well, septic system, and electricity
- Private road access with a private pond
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
$18,570
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
5.67%
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%
$371,400
$371.4K
Cap Rate 7%
$265,286
$265.3K
Cap Rate 9%
$206,333
$206.3K
Market Conditions
NOI Build-Up for 2,510 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
$37.3K $14.88/SF
− Vacancy
−$3.6K −$1.43/SF
EGI
$33.8K $13.45/SF
− OpEx
−$15.2K −$6.05/SF
NOI
$18.6K $7.40/SF
Area
Jacksonville, FL
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%
$371,400
Cap Rate 7%
$265,286
Cap Rate 9%
$206,333
Alternative Uses
Best Use
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,570 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$687.6K
$601.7K – $802.2K
NOI $48,132 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 32219, FL
14,474
Population
5,780
Households
2.5
Avg Household Size
39
Median Age
22%
College-Educated
86%
High-School Grad
71.5 sq mi
ZIP Area
202
Density / Sq Mi
$65,104
Median Household Income
$37,410
Median Earnings
$1,348
Median Rent
$205,100
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?
Multifamily property - Separate residences with independent utilities offer flexible multigenerational or rental-use arrangements.
Where is this multifamily property located?
The property is located at 11419 Bocephus Lane Jacksonville, FL.
What is the asking price?
The asking price for this property is $327,400.
What are key features of this property?
This property features: Two fully functional homes situated on 2.5 acres; Each residence has its own well, septic system, and electricity; Private road access with a private pond
