Duplex with Detached Flex
For Sale
$619,000
1514 SILVER Street, Jacksonville, FL 32206
Two three-bedroom residences feature island kitchens, gated rear access, and a separate air-conditioned flex building.
Property Size3,452 SF
Price / SF$176.86
Days on Market11
Property Features for 1514 SILVER Street
General Information
Standard status
Active
Size
3,452 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$9,414
Building Details
Building Size
3,452 SF
Year Built
1912
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
Listed By:
THOMAS LOVE · License #3118560
(904) 382-7695
Source:
Bebetterflorida
Added: Sep 12
Changed: Sep 21
Last Checked: Sep 21 at 8:38AM
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 BELLE EPOQUE REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
Built in 1912, this duplex provides nearly 3,500 square feet across two separate residences. Each unit offers three bedrooms, two bathrooms, and an eat-in kitchen organized around a full island. The property also includes a detached flex structure with independent air conditioning and cable and internet wiring, supporting studio, workshop, or office use.
The double lot at 1514 Silver Street in Jacksonville’s Historic Springfield setting includes mature live oaks, dual-zone irrigation, and a rear parking pad accessed through an automated gate. The surrounding street is characterized by an oak canopy and historic architecture.
The double lot at 1514 Silver Street in Jacksonville’s Historic Springfield setting includes mature live oaks, dual-zone irrigation, and a rear parking pad accessed through an automated gate. The surrounding street is characterized by an oak canopy and historic architecture.
Key Highlights
- Nearly 3,500 square feet arranged as two residences
- Each unit includes 3 bedrooms, 2 baths, and an eat‑in kitchen with a full island
- Detached flex structure has its own air conditioning plus cable and internet wiring
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
$32,864
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
5.31%
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%
$657,280
$657.3K
Cap Rate 7%
$469,486
$469.5K
Cap Rate 9%
$365,156
$365.2K
Market Conditions
NOI Build-Up for 3,500 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
$51.7K $14.76/SF
− Vacancy
−$4.7K −$1.35/SF
EGI
$46.9K $13.41/SF
− OpEx
−$14.1K −$4.02/SF
NOI
$32.9K $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%
$657,280
Cap Rate 7%
$469,486
Cap Rate 9%
$365,156
Alternative Uses
Best Use
Multifamily LT 5
$469.5K
$410.8K – $547.7K
NOI $32,864 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$369.9K
$323.7K – $431.6K
NOI $25,894 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$958.8K
$839.0K – $1.12M
NOI $67,116 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,462
Businesses Nearby
Explore this area
Business Placement
Demographics for 32206, FL
18,283
Population
9,415
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
82%
High-School Grad
6.2 sq mi
ZIP Area
2,949
Density / Sq Mi
$37,585
Median Household Income
$34,353
Median Earnings
$866
Median Rent
$153,500
Median Home Value
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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?
Duplex - Two three-bedroom residences feature island kitchens, gated rear access, and a separate air-conditioned flex building.
Where is this duplex located?
The property is located at 1514 SILVER Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Nearly 3,500 square feet arranged as two residences; Each unit includes 3 bedrooms, 2 baths, and an eat‑in kitchen with a full island; Detached flex structure has its own air conditioning plus cable and internet wiring
