Quadplex with Covered
For Sale
$890,000
1643 MALLORY Street, Jacksonville, FL 32205
Tenant-occupied income property with coin-operated laundry and individual JEA electric meters for each unit.
Property Size6,112 SF
Price / SF$145.62
Days on Market9
Property Features for 1643 MALLORY Street
General Information
Standard status
Active
Size
6,112 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Amenities
laundry facility
Building Details
Year Built
1927
Listing Agency:
CENTURY 21 INTEGRA
Listed By:
TERRELL P NEWBERRY
Source:
Endlesssummerrealty
Added: Aug 3
Changed: Aug 11
Last Checked: Aug 11 at 6:05AM
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 CENTURY 21 INTEGRA
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 6112 square feet, with a total of 8 bedrooms and 4 baths. The building dates to 1927 and includes a laundry facility, four covered parking spaces, and separate JEA electric metering for every unit. The laundry equipment is coin-operated.
The property is fully occupied by long-term tenants and is located at 1643 Mallory Street in Jacksonville, Florida 32205. Tenant occupancy and scheduled showings apply to access. The four-unit configuration, dedicated utility metering, on-site laundry, and covered parking provide the core operating features of this established multifamily asset.
The property is fully occupied by long-term tenants and is located at 1643 Mallory Street in Jacksonville, Florida 32205. Tenant occupancy and scheduled showings apply to access. The four-unit configuration, dedicated utility metering, on-site laundry, and covered parking provide the core operating features of this established multifamily asset.
Key Highlights
- Four‑unit quadplex with 6112 square feet
- Fully occupied with long‑term tenants
- 8 bedrooms and 4 baths
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
$57,390
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
6.45%
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%
$1,147,800
$1.1M
Cap Rate 7%
$819,857
$819.9K
Cap Rate 9%
$637,667
$637.7K
Market Conditions
NOI Build-Up for 6,112 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
$90.2K $14.76/SF
− Vacancy
−$8.2K −$1.35/SF
EGI
$82.0K $13.41/SF
− OpEx
−$24.6K −$4.02/SF
NOI
$57.4K $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%
$1,147,800
Cap Rate 7%
$819,857
Cap Rate 9%
$637,667
Alternative Uses
Best Use
Multifamily LT 5
$819.9K
$717.4K – $956.5K
NOI $57,390 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$646.0K
$565.2K – $753.7K
NOI $45,219 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$1.67M
$1.47M – $1.95M
NOI $117,204 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
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?
Quadplex - Tenant-occupied income property with coin-operated laundry and individual JEA electric meters for each unit.
Where is this quadplex located?
The property is located at 1643 MALLORY Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Four‑unit quadplex with 6112 square feet; Fully occupied with long‑term tenants; 8 bedrooms and 4 baths
