Updated Duplex with Rental
For Sale
$190,000
1590 W 28th St, Jacksonville, FL 32209
One residence is leased while the second is available for occupancy or a new tenant.
Property Size1,124 SF
Price / SF$169.04
Days on Market233
Property Features for 1590 W 28th St
General Information
Standard status
Active
Size
1,124 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1953
Listing Agency:
CAPTAIN KIRK PROPERTY MANAGEMENT
Listed By:
CHRISTOPHER KIRK
(904) 527-9945
Source:
Jacksonvilleflhomeguide
Added: Jan 12
Changed: Sep 2
Last Checked: Sep 1 at 7:55PM
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 CAPTAIN KIRK PROPERTY MANAGEMENT
Investment Insights
Based on property information with market context.
This duplex, built in 1953, combines an occupied unit with a second unit that is currently vacant. The available residence can accommodate an owner occupant or a new tenant, while the leased unit provides ongoing rental income.
Recent property improvements include a new roof. The property is located at 1590 W 28th Street in Jacksonville, Florida, with a two-unit configuration suited to residential income ownership.
Recent property improvements include a new roof. The property is located at 1590 W 28th Street in Jacksonville, Florida, with a two-unit configuration suited to residential income ownership.
Key Highlights
- Duplex built in 1953
- One unit is currently rented and producing income
- Second unit is vacant and available for occupancy or leasing
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
$10,554
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
5.55%
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%
$211,080
$211.1K
Cap Rate 7%
$150,771
$150.8K
Cap Rate 9%
$117,267
$117.3K
Market Conditions
NOI Build-Up for 1,124 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
$16.6K $14.76/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$15.1K $13.41/SF
− OpEx
−$4.5K −$4.02/SF
NOI
$10.6K $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%
$211,080
Cap Rate 7%
$150,771
Cap Rate 9%
$117,267
Alternative Uses
Best Use
Multifamily LT 5
$150.8K
$131.9K – $175.9K
NOI $10,554 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$118.8K
$104.0K – $138.6K
NOI $8,316 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$307.9K
$269.4K – $359.2K
NOI $21,554 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
335
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 - One residence is leased while the second is available for occupancy or a new tenant.
Where is this duplex located?
The property is located at 1590 W 28th St Jacksonville, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Duplex built in 1953; One unit is currently rented and producing income; Second unit is vacant and available for occupancy or leasing
