Income-Producing Multifamily New
For Sale
$879,900
1516 Yelford Cir, Jacksonville, FL 32218
Income property with new construction and value-add opportunity.
Property Size4,180 SF
Price / SF$210.50
Days on Market308
Property Features for 1516 Yelford Cir
General Information
Standard status
Active
Size
4,180 SF
Property subtype
Multi-Family
Listing Agency:
SUNCOAST PROPERTY MANAGEMENT LLC
Listed By:
KELLY M TREADAWAY · License #3380118
(904) 831-8006
Source:
Jacksonvilleflhomeguide
Added: Nov 10, 2025
Changed: Sep 9
Last Checked: Sep 14 at 12:54PM
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 SUNCOAST PROPERTY MANAGEMENT LLC
Investment Insights
Based on property information with market context.
This income-producing multifamily property presents an investment opportunity with partial occupancy. One unit is currently vacant, making it suitable for an owner-occupant or for value-add potential while still generating rental income from existing tenants. Constructed by Southern Impression Homes, this new construction property is offered at clearance pricing. The property may qualify for a special interest rate and includes professional property management and rent protection for a limited time. It offers modern features and potential cash flow. The location has a walk score of 72, indicating it is very walkable, a bike score of 51, indicating it is bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Income‑producing property with existing tenants and one vacant unit for owner‑occupancy or value‑add.
- Brand NEW construction by Southern Impression Homes.
- Qualifies for a special 3.75% interest rate (5.068% APR).
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
$34,417
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
3.91%
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%
$688,340
$688.3K
Cap Rate 7%
$491,671
$491.7K
Cap Rate 9%
$382,411
$382.4K
Market Conditions
NOI Build-Up for 4,180 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
$69.2K $16.56/SF
− Vacancy
−$6.6K −$1.59/SF
EGI
$62.6K $14.97/SF
− OpEx
−$28.2K −$6.74/SF
NOI
$34.4K $8.23/SF
Area
ZIP 32218
Vacancy
9.60%
Lease Rate
$16.56 /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%
$688,340
Cap Rate 7%
$491,671
Cap Rate 9%
$382,411
Alternative Uses
Best Use
Apartment 5plus
$491.7K
$430.2K – $573.6K
NOI $34,417 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$975.6K – $1.30M
NOI $78,049 @ 7.0% cap · market cap 8.87%
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
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
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?
Multifamily property - Income property with new construction and value-add opportunity.
Where is this multifamily property located?
The property is located at 1516 Yelford Cir Jacksonville, FL.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: Income‑producing property with existing tenants and one vacant unit for owner‑occupancy or value‑add.; Brand NEW construction by Southern Impression Homes.; Qualifies for a special 3.75% interest rate (5.068% APR).
