Gated Residential Income
For Sale
$394,900
Pending
1889 Faye Rd, Jacksonville, FL 32218
Residential property with central air, enclosed outdoor space, gated access, and detached parking improvements.
Property Size1,948 SF
Days on Market58
Property Features for 1889 Faye Rd
General Information
Standard status
Pending
Size
1,948 SF
Property subtype
Multi-Family
Building Details
Year Built
1952
Listed By:
Florida Coastal Team
(904) 664-9864
Source:
Floridacoastalteam
Added: Aug 2
Changed: Sep 17
Last Checked: Sep 26 at 7:19AM
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 Florida Coastal Team
Investment Insights
Based on property information with market context.
This residential income property at 1889 Faye Road includes central air, electric systems, a wood-burning fireplace, and a kitchen equipped with a gas cooktop, gas oven, refrigerator, dishwasher, and tankless water heater. Laundry amenities include a washer, dryer, and stacked washer/dryer configuration. A water softener is also installed.
The property includes a full wood fence enclosing the backyard, along with a fire pit. Parking improvements consist of a carport, detached garage, additional off-street parking, and a gated entry. Built in 1952, the property is designated Residential under its zoning classification and is located in Jacksonville, Duval County.
The property includes a full wood fence enclosing the backyard, along with a fire pit. Parking improvements consist of a carport, detached garage, additional off-street parking, and a gated entry. Built in 1952, the property is designated Residential under its zoning classification and is located in Jacksonville, Duval County.
Key Highlights
- Residential zoning classification
- Built in 1952
- Central air and electric systems
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
$16,039
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
4.06%
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%
$320,780
$320.8K
Cap Rate 7%
$229,129
$229.1K
Cap Rate 9%
$178,211
$178.2K
Market Conditions
NOI Build-Up for 1,948 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
$32.3K $16.56/SF
− Vacancy
−$3.1K −$1.59/SF
EGI
$29.2K $14.97/SF
− OpEx
−$13.1K −$6.74/SF
NOI
$16.0K $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%
$320,780
Cap Rate 7%
$229,129
Cap Rate 9%
$178,211
Alternative Uses
Best Use
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,039 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$519.6K
$454.7K – $606.2K
NOI $36,373 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
36
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential property with central air, enclosed outdoor space, gated access, and detached parking improvements.
Where is this residential income property located?
The property is located at 1889 Faye Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Residential zoning classification; Built in 1952; Central air and electric systems
