Duplex With In-Unit Laundry
New
For Sale
$225,000
2121 Eliasberg Ave, Pensacola, FL 32507
MULTI_FAMILY - Pensacola, FL
Property Size1,300 SF
Price / SF$173.08
Days on Market6
Property Features for 2121 Eliasberg Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Subdivision
Beach Haven
Lot features
Central Access
Elementary school
Navy Point
Middle school
BAILEY
High school
Escambia
Directions
Head out NAS Pensacola via the West Gate onto S Blue Angel Parkway (SR 173) going north, stay on it a few miles through the Warrington area, then turn onto Eliasberg St to reach 2121 - about 6-7 miles, 15-20 minutes.
Standard status
Active
APN
352S311000002096
Size
1,300 SF
Taxes and HOA fees
Tax Description
W1/2 Of Lts 1 2 Blk 96 Beach Haven Plat Db 46 P 51 Or 9225 P 1283 Sec 54/35 52S R 30/31W
Legal Description
W1/2 Of Lts 1 2 Blk 96 Beach Haven Plat Db 46 P 51 Or 9225 P 1283 Sec 54/35 52S R 30/31W
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Window Unit(s), Wall/Window Unit(s), Ceiling Fan(s)
Amenities
in-unit laundry connections
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
Dalton Wade, Inc.
(727) 888-4175
Listed By:
Hai Ho
(850) 356-1126
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 11:06AM
MLS# 687043
Copyright © 2026 Pensacola Association of REALTORS. 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.
Built in 1967, this 1,300-square-foot duplex contains two residential units, each arranged with two bedrooms and one bathroom. Both units include in-unit laundry connections. One unit is occupied, while the other is vacant and available for occupancy or leasing. Block construction, vinyl flooring, a shingle roof, central heating, and window, wall/window, and ceiling fan cooling systems are included. The property is served by a septic tank.
Key Highlights
- Two‑unit duplex with 1,300 square feet of total property size
- Each unit includes 2 bedrooms and 1 bathroom
- In‑unit laundry connections in both units
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
$12,795
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
5.69%
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%
$255,900
$255.9K
Cap Rate 7%
$182,786
$182.8K
Cap Rate 9%
$142,167
$142.2K
Market Conditions
NOI Build-Up for 1,300 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
$21.1K $16.20/SF
− Vacancy
−$2.8K −$2.14/SF
EGI
$18.3K $14.06/SF
− OpEx
−$5.5K −$4.22/SF
NOI
$12.8K $9.84/SF
Area
Escambia County, FL
Vacancy
13.21%
Lease Rate
$16.20 /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%
$255,900
Cap Rate 7%
$182,786
Cap Rate 9%
$142,167
Alternative Uses
Best Use
Multifamily LT 5
$182.8K
$159.9K – $213.3K
NOI $12,795 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$167.8K
$146.8K – $195.8K
NOI $11,746 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$381.5K
$333.8K – $445.1K
NOI $26,707 @ 7.0% cap · market cap 11.87%
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
119
Businesses Nearby
Explore this area
Business Placement
Demographics for 32507, FL
31,215
Population
19,131
Households
1.6
Avg Household Size
44
Median Age
32%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
1,119
Density / Sq Mi
$69,802
Median Household Income
$38,000
Median Earnings
$1,238
Median Rent
$267,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching layouts with private laundry hookups and one currently occupied unit.
Where is this duplex located?
The property is located at 2121 Eliasberg Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,300 square feet of total property size; Each unit includes 2 bedrooms and 1 bathroom; In‑unit laundry connections in both units
