4-Unit Multifamily
For Sale
$225,000
1402 Nylic Street, Tallahassee, FL 32304
Four tenant-occupied residences are arranged as two duplexes offered together.
Property Size1,786 SF
Price / SF$125.98
Days on Market188
Property Features for 1402 Nylic Street
General Information
Standard status
Active
Size
1,786 SF
Property subtype
Multi Family Home
Lease Term
12 Months
Additional Details
Asking Price
$450,000
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,469
Building Details
Building Size
1,786 SF
Year Built
1956
Buildings
2
Stories
1
Units
2
Listing Agency:
Tallahassee Real Estate Sol.
Listed By:
Peggy Dye · License #3392974
(850) 339-6995
Source:
Bertpope
Added: May 2
Changed: Nov 4
Last Checked: Nov 5 at 4:52AM
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 Tallahassee Real Estate Sol.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily offering combines two duplexes, totaling four units, at 1402 Nylic Street and 902, 910, and 912 Wadsworth. The properties are side by side and are being sold together. The record gives a year built of 1956 for the offering. All four units are tenant occupied, and management is handled by Tallahassee Real Estate Solutions.
Key Highlights
- Four units offered together in two duplexes
- Tenant occupied
- Professionally managed by Tallahassee Real Estate Solutions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,714
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,280
$374.3K
Cap Rate 7%
$267,343
$267.3K
Cap Rate 9%
$207,933
$207.9K
Market Conditions
NOI Build-Up for 1,786 SF
Gross rent
$28.9K $16.20/SF
− Vacancy
−$2.2K −$1.23/SF
EGI
$26.7K $14.97/SF
− OpEx
−$8.0K −$4.49/SF
NOI
$18.7K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,280
Cap Rate 7%
$267,343
Cap Rate 9%
$207,933
Alternative Uses
Best Use
Multifamily LT 5
$267.3K
$233.9K – $311.9K
NOI $18,714 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$232.4K
$203.3K – $271.1K
NOI $16,267 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$437.8K
$383.1K – $510.8K
NOI $30,649 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four tenant-occupied residences are arranged as two duplexes offered together.
Where is this multifamily property located?
The property is located at 1402 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: Four units offered together in two duplexes; Tenant occupied; Professionally managed by Tallahassee Real Estate Solutions
