Vacant Duplex Income
For Sale
$199,000
1357 W 22ND Street, Jacksonville, FL 32209
Two vacant units each have separate meters and HVAC, with three bedrooms and one bath per side.
Property Size2,022 SF
Days on Market198
Property Features for 1357 W 22ND Street
General Information
Standard status
Active
Size
2,022 SF
Property subtype
Duplex
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,645
Building Details
Building Size
2,022 SF
Year Built
1953
Tenancy
Multi
Listing Agency:
SOLSTICE REALTY, LLC
Listed By:
JACQUES GUILLAUME · License #BK3077532
(904) 886-3100
Source:
Houseandhavenrealty
Added: Feb 21
Changed: Aug 31
Last Checked: Sep 7 at 8:56AM
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 SOLSTICE REALTY, LLC
Investment Insights
Based on property information with market context.
This vacant duplex offers two separate, self-contained units. Each unit is configured with three bedrooms, one bath, plus family and dining space, and each has its own meter and HVAC equipment for individual utility management. The downstairs unit also includes a new mini split wall A/C unit, and it needs painting to finish current readiness.
Located at 1357 W 22ND Street in Jacksonville, FL 32209, the property is described as being close to schools, major highways, the urban core, mass transportation, shopping centers, and a hospital.
The sale is noted as a short sale, and all offers are subject to the seller’s lender approval.
Located at 1357 W 22ND Street in Jacksonville, FL 32209, the property is described as being close to schools, major highways, the urban core, mass transportation, shopping centers, and a hospital.
The sale is noted as a short sale, and all offers are subject to the seller’s lender approval.
Key Highlights
- Duplex built in 1953 with two vacant units
- Each unit has its own separate meter and HVAC
- 3 bedrooms and 1 bath per unit, with family and dining rooms
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
$14,959
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
7.52%
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%
$299,180
$299.2K
Cap Rate 7%
$213,700
$213.7K
Cap Rate 9%
$166,211
$166.2K
Market Conditions
NOI Build-Up for 2,022 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
$30.1K $14.88/SF
− Vacancy
−$2.9K −$1.43/SF
EGI
$27.2K $13.45/SF
− OpEx
−$12.2K −$6.05/SF
NOI
$15.0K $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%
$299,180
Cap Rate 7%
$213,700
Cap Rate 9%
$166,211
Alternative Uses
Best Use
Multifamily LT 5
$271.2K
$237.3K – $316.4K
NOI $18,986 @ 7.0% cap · market cap 9.54%
Second Best
Apartment 5plus
$213.7K
$187.0K – $249.3K
NOI $14,959 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$553.9K
$484.7K – $646.2K
NOI $38,774 @ 7.0% cap · market cap 19.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
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?
Duplex - Two vacant units each have separate meters and HVAC, with three bedrooms and one bath per side.
Where is this duplex located?
The property is located at 1357 W 22ND Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Duplex built in 1953 with two vacant units; Each unit has its own separate meter and HVAC; 3 bedrooms and 1 bath per unit, with family and dining rooms
