Duplex With Two-Bedroom
For Sale
$419,000
2337 Wyatt St, Pensacola, FL 32514
MULTI_FAMILY - Pensacola, FL
Property Size2,100 SF
Lot Size0.16 Acres
Price / SF$199.52
Days on Market51
Property Features for 2337 Wyatt St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1, Bathroom 3
Lot features
Interior Lot
Elementary school
Mcarthur
Middle school
FERRY PASS
High school
Tate
Directions
From E Nine Mile Rd, turn north onto Sandpiper St, then left on WYATT ST. Duplex will be on your Left
Standard status
Active
APN
041S300101004004
Size
2,100 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LT 4 BLK 4 FERRY PASS HTS PB 1 P 64 OR 8983 P 1326 SEC 4/15/16 T 1S R 30W
Legal Description
LT 4 BLK 4 FERRY PASS HTS PB 1 P 64 OR 8983 P 1326 SEC 4/15/16 T 1S R 30W
Utilities
Heating system
Central
Amenities
backyard
shed
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Shingle
Listing Agency:
Levin Rinke Realty
(850) 916-5050
Listed By:
Jon Worley
(850) 259-5180
Added: Jun 23
Changed: Aug 9
Last Checked: Aug 12 at 12:06AM
MLS# 684825
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.
This well-maintained duplex on a 0.155-acre lot offers two-bedroom, two-and-a-half-bath living on each side, with an added downstairs half bath for guests and everyday living. Each side includes a backyard with a storage shed, supporting tenant convenience and practical day-to-day use. Constructed with frame construction and served by central heating, the property was built in 2002 and has a shingle roof. The layout is designed for comfortable privacy between the two units while keeping day-to-day operation straightforward for an owner-occupant or investor.
Set in a convenient Pensacola location, the property is just minutes from the University of West Florida, shopping, restaurants, medical facilities, and everyday conveniences. It also provides easy access to downtown Pensacola and Pensacola Beach.
The duplex is described as rental-ready and available for immediate occupancy, with the prior rental arrangement reflecting a setup where tenants are responsible for utilities. It’s a strong fit for buyers seeking a house-hack style option or an investor looking for a clean, maintainable duplex.
Set in a convenient Pensacola location, the property is just minutes from the University of West Florida, shopping, restaurants, medical facilities, and everyday conveniences. It also provides easy access to downtown Pensacola and Pensacola Beach.
The duplex is described as rental-ready and available for immediate occupancy, with the prior rental arrangement reflecting a setup where tenants are responsible for utilities. It’s a strong fit for buyers seeking a house-hack style option or an investor looking for a clean, maintainable duplex.
Key Highlights
- 0.155‑acre lot with a duplex layout
- 2,100 SF duplex property built in 2002
- Two‑bedroom, two‑and‑a‑half‑bath units on each side
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
$20,668
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
4.93%
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%
$413,360
$413.4K
Cap Rate 7%
$295,257
$295.3K
Cap Rate 9%
$229,644
$229.6K
Market Conditions
NOI Build-Up for 2,100 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
$34.0K $16.20/SF
− Vacancy
−$4.5K −$2.14/SF
EGI
$29.5K $14.06/SF
− OpEx
−$8.9K −$4.22/SF
NOI
$20.7K $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%
$413,360
Cap Rate 7%
$295,257
Cap Rate 9%
$229,644
Alternative Uses
Best Use
Multifamily LT 5
$295.3K
$258.4K – $344.5K
NOI $20,668 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$271.1K
$237.2K – $316.2K
NOI $18,974 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$616.3K
$539.3K – $719.1K
NOI $43,143 @ 7.0% cap · market cap 10.30%
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
621
Businesses Nearby
Explore this area
Business Placement
Demographics for 32514, FL
40,844
Population
19,117
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
91%
High-School Grad
19.8 sq mi
ZIP Area
2,063
Density / Sq Mi
$66,484
Median Household Income
$36,178
Median Earnings
$1,358
Median Rent
$241,300
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 - Well-maintained duplex featuring two-bedroom, two-and-a-half-bath units on each side, ready for immediate occupancy.
Where is this duplex located?
The property is located at 2337 Wyatt St Pensacola, FL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: 0.155‑acre lot with a duplex layout; 2,100 SF duplex property built in 2002; Two‑bedroom, two‑and‑a‑half‑bath units on each side
