Duplex Property with Detached
For Sale
Under Contract
$394,900
1889 FAYE Road, Jacksonville, FL 32218
Residential Income, Jacksonville, FL
Property Size1,948 SF
Lot Size0.52 Acres
Price / SF$202.72
Days on Market47
Property Features for 1889 FAYE Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1
Parking features
Carport, Off Street, Gated, Garage
Exterior features
Fire Pit
Fencing
Fenced
Fireplace
1
Appliances
Dishwasher, Dryer, Gas Cooktop, Gas Oven, Plumbed For Ice Maker, Refrigerator, Tankless Water Heater, Washer, Washer/Dryer Stacked, Water Softener Owned
Subdivision
Eastport Small Farms
Lot features
Few Trees
Directions
E Beltway S/I-295 S via EXIT 362A , Exit Pulaski Rd .Turn slight right onto Pulaski, Turn left onto Eastport Rd, Stay straight to go onto Faye Rd, 1889 FAYE RD is on left NOTE: Gate will be closed and should be closed when finished. Suggest arriving early to allow your buyer to park inside the property. No street parking
Standard status
Active Under Contract
APN
1106140000
Size
1,948 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4877
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric, Multi Units
Water source
Well
Amenities
covered patio
private fenced backyard
mature fruit trees
animal enclosure
workshop/garage
bar area
attached carport
Building Details
Year built
1952
Floors in Building
1
Number of units
2
Flooring type
Laminate, Tile, Carpet
Building materials
Fiber Cement, Wood Siding
Roof type
Shingle
Additional Structures
Guest House
Listing Agency:
MOMENTUM REALTY
(904) 903-1558
Listed By:
DANIEL STEPHENSON · License #bk3244201
(414) 736-6371
Added: Jul 18
Changed: Aug 21
Last Checked: Sep 2 at 3:06PM
MLS# 2156054
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 duplex property combines a 1,312-square-foot main residence with three bedrooms and one updated bathroom and a detached 636-square-foot apartment offering one bedroom and one bathroom. The primary home includes an updated kitchen with gas cooking, a breakfast bar, fresh paint, new flooring, a renovated bathroom, and a washer/dryer combination. The apartment has also received fresh paint and new flooring.
Set on 0.52 acres, the property includes a covered patio, fenced backyard with gated access, mature fruit trees, and an animal enclosure. A workshop/garage adds a private restroom, bar area, attached carport, and off-street parking. Additional infrastructure includes a well, septic tank, propane service, central air, and electric heating. The property was built in 1952 and includes a tankless water heater, water softener, and gas appliances.
Set on 0.52 acres, the property includes a covered patio, fenced backyard with gated access, mature fruit trees, and an animal enclosure. A workshop/garage adds a private restroom, bar area, attached carport, and off-street parking. Additional infrastructure includes a well, septic tank, propane service, central air, and electric heating. The property was built in 1952 and includes a tankless water heater, water softener, and gas appliances.
Key Highlights
- 1,312‑square‑foot main residence with 3 bedrooms and 1 bathroom
- Detached 636‑square‑foot apartment with 1 bedroom and 1 bathroom
- 0.52‑acre lot with fenced backyard, gated access, and mature fruit trees
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
$20,373
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
5.16%
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%
$407,460
$407.5K
Cap Rate 7%
$291,043
$291.0K
Cap Rate 9%
$226,367
$226.4K
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
$32.0K $16.44/SF
− Vacancy
−$2.9K −$1.50/SF
EGI
$29.1K $14.94/SF
− OpEx
−$8.7K −$4.48/SF
NOI
$20.4K $10.46/SF
Area
ZIP 32218
Vacancy
9.12%
Lease Rate
$16.44 /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%
$407,460
Cap Rate 7%
$291,043
Cap Rate 9%
$226,367
Alternative Uses
Best Use
Multifamily LT 5
$291.0K
$254.7K – $339.6K
NOI $20,373 @ 7.0% cap · market cap 5.16%
Second Best
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,039 @ 7.0% cap · market cap 4.06%
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
Property Profile
Current Use
Lease Details
2
Residential units
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
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 - Two separate residential spaces support rental, guest, or multigenerational living arrangements.
Where is this duplex located?
The property is located at 1889 FAYE Road 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: 1,312‑square‑foot main residence with 3 bedrooms and 1 bathroom; Detached 636‑square‑foot apartment with 1 bedroom and 1 bathroom; 0.52‑acre lot with fenced backyard, gated access, and mature fruit trees
