Four-Bedroom Duplex
For Sale
$99,900
1421 CLEVELAND Street, Jacksonville, FL 32209
MULTI_FAMILY - Jacksonville, FL
Property Size1,104 SF
Lot Size0.08 Acres
Price / SF$90.49
Days on Market10
Property Features for 1421 CLEVELAND Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Parking features
Off Street
Subdivision
Stewarts Addn To Jax
Directions
Drive southeast on Kings Road/US 23. Left to Cleveland St. Property is on the right.
Standard status
Active
APN
0545730000
Size
1,104 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1662
Building Details
Year built
1952
Number of units
2
Listing Agency:
BEYCOME OF FLORIDA LLC
(804) 656-5007
Listed By:
STEVEN KOLENO · License #0779766
(804) 656-5007
Added: Aug 4
Last Checked: Aug 13 at 12:06AM
MLS# 2158564
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 property contains two distinct residential units within 1,104 square feet of building area. The configuration includes four bedrooms identified across the property, with separate living spaces that support independent occupancy. Built in 1952, the structure sits on a 0.08-acre parcel and includes off-street parking. The property is located at 1421 Cleveland Street in Jacksonville, Florida, within ZIP Code 32209. Its duplex format provides a straightforward residential income property configuration while also accommodating shared or multigenerational living needs.
Key Highlights
- Two‑unit duplex configuration with separate living spaces
- 1,104 square feet of building area
- Four bedrooms identified across the property
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
$8,168
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
8.18%
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%
$163,360
$163.4K
Cap Rate 7%
$116,686
$116.7K
Cap Rate 9%
$90,756
$90.8K
Market Conditions
NOI Build-Up for 1,104 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
$16.4K $14.88/SF
− Vacancy
−$1.6K −$1.43/SF
EGI
$14.9K $13.45/SF
− OpEx
−$6.7K −$6.05/SF
NOI
$8.2K $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%
$163,360
Cap Rate 7%
$116,686
Cap Rate 9%
$90,756
Alternative Uses
Best Use
Multifamily LT 5
$148.1K
$129.6K – $172.8K
NOI $10,366 @ 7.0% cap · market cap 10.38%
Second Best
Apartment 5plus
$116.7K
$102.1K – $136.1K
NOI $8,168 @ 7.0% cap · market cap 8.18%
Theoretical Best
Office A
$302.4K
$264.6K – $352.8K
NOI $21,170 @ 7.0% cap · market cap 21.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,871
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 separate residential units offer flexible occupancy for rental or shared household arrangements.
Where is this duplex located?
The property is located at 1421 CLEVELAND Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Two‑unit duplex configuration with separate living spaces; 1,104 square feet of building area; Four bedrooms identified across the property
