Multi-Unit Short-Term Rental
For Sale
Under Contract
$600,000
1630 LARUE Avenue, Jacksonville, FL 32207
Residential Income, Jacksonville, FL
Property Size3,477 SF
Lot Size0.27 Acres
Price / SF$172.56
Days on Market199
Property Features for 1630 LARUE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 7, Bathroom 4, Bathroom 1
Parking features
On Street
Fireplace
1
Appliances
Dishwasher, Dryer, Electric Oven, Electric Range, Electric Water Heater, Refrigerator, Washer
Subdivision
San Marco
Lot features
Cleared
Directions
From San Marco go north on San Marco Blvd. Right turn on Riviera at The European Street Restaurant. Left on Larue, house on right.
Standard status
Active Under Contract
APN
0804800000
Size
3,477 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10229
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1924
Floors in Building
1
Number of units
3
Flooring type
Wood, Tile
Building materials
Wood Siding
Roof type
Shingle
Additional Structures
Guest House
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY
(904) 388-5005
Listed By:
LISA NGUYEN · License #3244961
(904) 755-1911
Added: Mar 4
Changed: Sep 12
Last Checked: Sep 19 at 12:06PM
MLS# 2133075
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 multi-unit short-term rental property includes a 3-bedroom, 2-bathroom main residence, an attached 2-bedroom, 1-bathroom apartment, and a detached 818-square-foot cottage with 2 bedrooms and 1 bathroom. The main home is furnished and operating as an Airbnb, while the cottage is partially furnished. Combined property size is 3,477 square feet on 0.27 acres. Interior features include wood and tile flooring, central heating and cooling, public water, and public sewer. A fireplace and on-street parking are also provided.
The property is located at 1630 LARUE Avenue in Jacksonville, one block from San Marco Blvd. It is identified as a multifamily dwelling and includes reservations extending several months into the future. The cottage is configured for continued short-term rental use or a long-term lease. Interior units have not experienced flooding during hurricane season.
The property is located at 1630 LARUE Avenue in Jacksonville, one block from San Marco Blvd. It is identified as a multifamily dwelling and includes reservations extending several months into the future. The cottage is configured for continued short-term rental use or a long-term lease. Interior units have not experienced flooding during hurricane season.
Key Highlights
- 3,477‑square‑foot multi‑unit property on 0.27 acres
- Main residence includes 3 bedrooms and 2 bathrooms
- Attached apartment offers 2 bedrooms and 1 bathroom
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
$25,724
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
4.29%
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%
$514,480
$514.5K
Cap Rate 7%
$367,486
$367.5K
Cap Rate 9%
$285,822
$285.8K
Market Conditions
NOI Build-Up for 3,477 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 $14.88/SF
− Vacancy
−$5.0K −$1.43/SF
EGI
$46.8K $13.45/SF
− OpEx
−$21.0K −$6.05/SF
NOI
$25.7K $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%
$514,480
Cap Rate 7%
$367,486
Cap Rate 9%
$285,822
Alternative Uses
Best Use
Apartment 5plus
$367.5K
$321.6K – $428.7K
NOI $25,724 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$952.5K
$833.4K – $1.11M
NOI $66,675 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,982
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
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?
Short term rental property - Three separate living areas support furnished accommodations, ongoing Airbnb operations, and flexible rental use.
Where is this short term rental property located?
The property is located at 1630 LARUE Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,477‑square‑foot multi‑unit property on 0.27 acres; Main residence includes 3 bedrooms and 2 bathrooms; Attached apartment offers 2 bedrooms and 1 bathroom
