Two-Unit Duplex Income
2016 SE 2ND PLACE Gainesville, FL 32641
2016 SE 2ND PLACE, Gainesville, FL, 32641
$225,000
Pending
For Sale
$225,000
Pending
Duplex with two 2-bedroom, 1-bath units, each currently leased, with newer A/C and water heaters.
Property Size1,100 SF
Days on Market505
Property Features for 2016 SE 2ND PLACE
General Information
- Standard status
- Pending
- Size
- 1,100 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1958
Listing agency
COLDWELL BANKER REALTY
(407) 403-3316
Listed by
Tasha Blomenkamp · License #3112510
(407) 403-3316
Source
Exitrealty
Added: Mar 3, 2025 Updated: Jul 21 at 12:03AM Checked: Jul 21 at 3:10AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This two-unit duplex offers two bedrooms and one bathroom on each side, with layouts that mirror each other. Each unit is currently leased, providing immediate occupancy. Recent upgrades include newer A/C units and water heaters.
The property is situated on a spacious lot with room in the rear for outdoor use.
Tenant A pays $1,050 per month with a $1,050 deposit and is on a month-to-month lease. Tenant B pays $1,050 per month with a $1,050 deposit and has a lease end date of 01/01/2025.
The property is situated on a spacious lot with room in the rear for outdoor use.
Tenant A pays $1,050 per month with a $1,050 deposit and is on a month-to-month lease. Tenant B pays $1,050 per month with a $1,050 deposit and has a lease end date of 01/01/2025.
Key Highlights
- Duplex built in 1958 with two 2‑bedroom, 1‑bath units, each leased
- Each unit has a similar layout with 2 bedrooms and 1 bathroom on both sides
- Both units currently leased at $1,050 per tenant (each with $1,050 deposit)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.5k | $15.00 |
| − Vacancy | −$1.1k | −$0.98 |
| EGI | $15.4k | $14.03 |
| − OpEx | −$4.6k | −$4.21 |
| NOI | $10.8k | $9.82 |
1,100 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$154.3K
$135.0K – $180.0K
NOI $10,799 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$138.4K
$121.1K – $161.5K
NOI $9,691 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$272.4K
$238.4K – $317.9K
NOI $19,071 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex with two 2-bedroom, 1-bath units, each currently leased, with newer A/C and water heaters.
Where is this duplex located?
The property is located at 2016 SE 2ND PLACE Gainesville, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex built in 1958 with two 2‑bedroom, 1‑bath units, each leased; Each unit has a similar layout with 2 bedrooms and 1 bathroom on both sides; Both units currently leased at $1,050 per tenant (each with $1,050 deposit)
