Updated 2-Unit
For Sale
$225,000
1328 Nylic Street, Tallahassee, FL 32304
Both residences feature a two-bedroom, two-bathroom plan near Florida State University.
Property Size2,050 SF
Price / SF$109.76
Days on Market42
Property Features for 1328 Nylic Street
General Information
Standard status
Active
Size
2,050 SF
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,881
Building Details
Building Size
2,050 SF
Year Built
1950
Stories
1
Units
2
Construction
vinyl siding
Listing Agency:
Keller Williams Town & Country
Listed By:
Ashley Hall · License #3591314
(850) 201-4663
Source:
Bertpope
Added: Sep 25
Changed: Nov 4
Last Checked: Nov 5 at 4:47AM
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 Keller Williams Town & Country
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Investment Insights
Based on property information with market context.
This single-story duplex contains two residences, each arranged with two bedrooms and two bathrooms. The 2,050-square-foot property was built in 1950 and has vinyl siding. Improvements include a roof installed in 2022, newer HVAC systems and water heater, and several replacement appliances.
At 1328 Nylic Street in Tallahassee, the property is within walking distance of Florida State University’s campus.
At 1328 Nylic Street in Tallahassee, the property is within walking distance of Florida State University’s campus.
Key Highlights
- Two units, each with 2 bedrooms and 2 bathrooms
- 2,050 square feet in a single‑story layout
- Roof installed in 2022; newer HVAC systems and water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,671
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,420
$373.4K
Cap Rate 7%
$266,729
$266.7K
Cap Rate 9%
$207,456
$207.5K
Market Conditions
NOI Build-Up for 2,050 SF
Gross rent
$36.9K $18.00/SF
− Vacancy
−$3.0K −$1.44/SF
EGI
$33.9K $16.56/SF
− OpEx
−$15.3K −$7.45/SF
NOI
$18.7K $9.11/SF
Area
Tallahassee, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,420
Cap Rate 7%
$266,729
Cap Rate 9%
$207,456
Alternative Uses
Best Use
Multifamily LT 5
$306.9K
$268.5K – $358.0K
NOI $21,480 @ 7.0% cap · market cap 9.55%
Second Best
Apartment 5plus
$266.7K
$233.4K – $311.2K
NOI $18,671 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$502.6K
$439.8K – $586.3K
NOI $35,180 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
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Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature a two-bedroom, two-bathroom plan near Florida State University.
Where is this duplex located?
The property is located at 1328 Nylic Street Tallahassee, 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: Two units, each with 2 bedrooms and 2 bathrooms; 2,050 square feet in a single‑story layout; Roof installed in 2022; newer HVAC systems and water heater
