Multifamily Property With Two
For Sale
$327,400
Pending
11419 Bocephus Ln, Jacksonville, FL 32219
Separate utility systems and a private-road setting support flexible residential occupancy across the property.
Property Size2,510 SF
Days on Market136
Property Features for 11419 Bocephus Ln
General Information
Standard status
Pending
Size
2,510 SF
Property subtype
Multi-Family
Building Details
Year Built
1986
Listing Agency:
BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY
Listed By:
HELEN M KIZER PA
(904) 699-3166
Source:
Jacksonvilleflhomeguide
Added: Apr 21
Changed: Aug 31
Last Checked: Aug 29 at 10:39AM
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 totaling 2,510 square feet on 2.5 acres. Each residence has its own well, septic system, and electrical service, allowing the homes to operate independently. The property was built in 1986 and provides a residential configuration suited to extended-family living or occupying one home while using the other for income.
Set along a private road in North Jacksonville, the property includes a private pond, firepit, and covered pavilion. The acreage also provides room for gardening, hobbies, and other outdoor uses. The combination of two homes, separate utilities, and substantial land creates a flexible residential income property with distinct living spaces.
Set along a private road in North Jacksonville, the property includes a private pond, firepit, and covered pavilion. The acreage also provides room for gardening, hobbies, and other outdoor uses. The combination of two homes, separate utilities, and substantial land creates a flexible residential income property with distinct living spaces.
Key Highlights
- Two fully functional homes on 2.5 acres
- Each home has its own well, septic system, and electricity
- 2,510 square feet of total property size
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
Property Profile
Current Use
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 utility systems and a private-road setting support flexible residential occupancy across the property.
Where is this multifamily property located?
The property is located at 11419 Bocephus Ln 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 on 2.5 acres; Each home has its own well, septic system, and electricity; 2,510 square feet of total property size
