Duplex with Separate Meters and
For Sale
$199,000
1357 W 22ND Street, Jacksonville, FL 32209
MULTI_FAMILY - Jacksonville, FL
Property Size2,022 SF
Lot Size0.08 Acres
Price / SF$98.42
Days on Market174
Property Features for 1357 W 22ND Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi Family
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2
Parking features
Off Street
Appliances
Electric Range, Refrigerator
Subdivision
Ribault Gardens
Lot features
Historic Area
Directions
From I-95 North to MLK Parkway North, Right onto Myrtle ave, Left onto W 22nd ST. Duplex on Right
Standard status
Active
APN
0865890000
Size
2,022 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4646
Utilities
Sewer type
Public Sewer
Heating system
Central, Varies by Unit (Heating), Electric (Heating)
Cooling system
Varies by Unit, Central Air, Electric
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Number of units
2
Flooring type
Laminate, Vinyl
Roof type
Shingle
Listing Agency:
SOLSTICE REALTY, LLC
(904) 386-1726
Listed By:
JACQUES GUILLAUME · License #BK3077532
(904) 886-3100
Added: Feb 20
Changed: Aug 1
Last Checked: Aug 13 at 3:06AM
MLS# 2131274
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 1357 W 22ND Street offers two vacant units with the ability to owner-occupy and lease one unit. Each unit has three bedrooms and one bathroom, with family and dining room space. Both units have their own meter and HVAC systems; the downstairs unit includes a new mini split wall AC unit. The downstairs unit needs painting.
The property sits on a 0.08-acre lot and was built in 1953. Heating is central and varies by unit, including electric heating, and cooling is described as central air and electric, varying by unit. Flooring includes laminate and vinyl, and appliances listed include an electric range and refrigerator. Water is public, sewer is public sewer, and the roof is shingle. Off-street parking is available.
The property sits on a 0.08-acre lot and was built in 1953. Heating is central and varies by unit, including electric heating, and cooling is described as central air and electric, varying by unit. Flooring includes laminate and vinyl, and appliances listed include an electric range and refrigerator. Water is public, sewer is public sewer, and the roof is shingle. Off-street parking is available.
Key Highlights
- Two vacant units
- Each unit has its own meter and HVAC
- Downstairs unit has new mini split wall AC unit
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
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
382
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 - Duplex with two vacant units, each with its own meter and HVAC, plus off-street parking.
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: Two vacant units; Each unit has its own meter and HVAC; Downstairs unit has new mini split wall AC unit
