Duplex with Two-Bedroom
For Sale
$279,000
Pending
1901 Crosby Court Unit A, Tallahassee, FL 32304
Each residence includes a great room, an eat-in kitchen, and an interior laundry room.
Property Size1,722 SF
Days on Market256
Property Features for 1901 Crosby Court Unit A
General Information
Standard status
Pending
Size
1,722 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
inside laundry room
Building Details
Building Size
1,722 SF
Year Built
1980
Listing Agency:
Blue Legacy Real Estate Group
Listed By:
Janelle Thomas Hall · License #3500882
(850) 328-4160
Source:
Tngrealty
Added: Feb 20
Changed: Nov 1
Last Checked: Nov 1 at 3:57PM
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 Blue Legacy Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two 2-bedroom, 1-bath units within 1,722 square feet. Both residences have a great room, an eat-in kitchen, and an interior laundry room.
The property is in Tallahassee near Florida State University, Tallahassee Community College, and shopping and restaurants along Tennessee Street.
The property is in Tallahassee near Florida State University, Tallahassee Community College, and shopping and restaurants along Tennessee Street.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,722 square feet
- Great room, eat‑in kitchen, and interior laundry room in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,043
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,860
$360.9K
Cap Rate 7%
$257,757
$257.8K
Cap Rate 9%
$200,478
$200.5K
Market Conditions
NOI Build-Up for 1,722 SF
Gross rent
$27.9K $16.20/SF
− Vacancy
−$2.1K −$1.23/SF
EGI
$25.8K $14.97/SF
− OpEx
−$7.7K −$4.49/SF
NOI
$18.0K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,860
Cap Rate 7%
$257,757
Cap Rate 9%
$200,478
Alternative Uses
Best Use
Multifamily LT 5
$257.8K
$225.5K – $300.7K
NOI $18,043 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$224.1K
$196.1K – $261.4K
NOI $15,684 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$422.2K
$369.4K – $492.5K
NOI $29,551 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
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Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a great room, an eat-in kitchen, and an interior laundry room.
Where is this duplex located?
The property is located at 1901 Crosby Court Unit A Tallahassee, FL.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,722 square feet; Great room, eat‑in kitchen, and interior laundry room in each unit
