Remodeled 4-Unit
New
For Sale
$849,000
3520 POST St, Jacksonville, FL 32205
Each residence has private laundry, individual utility metering, and access to covered outdoor space.
Property Size3,069 SF
Days on Market3
Property Features for 3520 POST St
General Information
Standard status
Active
Size
3,069 SF
Property subtype
Investment
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$82,200
Taxes and HOA fees
Annual Taxes
$10,546
Amenities
new kitchens with quartz countertops and stainless appliances
dishwashers
refinished hardwood or luxury vinyl flooring
private washer and dryer
smart locks
individual utility metering
covered rear decks
fenced backyard
Building Details
Building Size
3,069 SF
Year Built
1950
Buildings
1
Units
4
Construction
midcentury
Listing Agency:
Cowford Realty & Design
Listed By:
CARMEN GODWIN · License #SL3528670
(904) 708-0825
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:42PM
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 Cowford Realty & Design
Investment Insights
Based on property information with market context.
Built in 1950, this four-residence property has a two-bedroom, one-bath layout in each unit. The building has been remodeled with updated kitchens featuring quartz countertops and stainless appliances, plus dishwashers in every residence. Living areas have refinished hardwood or luxury vinyl flooring. Private washers and dryers, smart locks, and individual utility meters serve each unit. Four covered decks extend the rear of the building, while a fenced backyard and tenant parking are also provided.
Three residences currently operate as furnished rentals; the fourth has a history of traditional long-term leasing. The property is in Jacksonville’s Murray Hill Historic District, one block from neighborhood restaurants, cafés, shops, and other local businesses. Its midcentury architectural details complement the private outdoor areas.
Three residences currently operate as furnished rentals; the fourth has a history of traditional long-term leasing. The property is in Jacksonville’s Murray Hill Historic District, one block from neighborhood restaurants, cafés, shops, and other local businesses. Its midcentury architectural details complement the private outdoor areas.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- Three units currently operate as furnished rentals; the fourth has a traditional long‑term rental history
- Remodeled kitchens include quartz countertops, stainless appliances, and dishwashers in each 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
$28,817
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
3.39%
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%
$576,340
$576.3K
Cap Rate 7%
$411,671
$411.7K
Cap Rate 9%
$320,189
$320.2K
Market Conditions
NOI Build-Up for 3,069 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
$45.3K $14.76/SF
− Vacancy
−$4.1K −$1.35/SF
EGI
$41.2K $13.41/SF
− OpEx
−$12.4K −$4.02/SF
NOI
$28.8K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
30.00%
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%
$576,340
Cap Rate 7%
$411,671
Cap Rate 9%
$320,189
Alternative Uses
Best Use
Multifamily LT 5
$411.7K
$360.2K – $480.3K
NOI $28,817 @ 7.0% cap · market cap 3.39%
Second Best
Apartment 5plus
$324.4K
$283.8K – $378.4K
NOI $22,705 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$840.7K
$735.6K – $980.9K
NOI $58,851 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has private laundry, individual utility metering, and access to covered outdoor space.
Where is this quadplex located?
The property is located at 3520 POST St Jacksonville, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; Three units currently operate as furnished rentals; the fourth has a traditional long‑term rental history; Remodeled kitchens include quartz countertops, stainless appliances, and dishwashers in each unit
