Updated Duplex with Separate
For Sale
$340,777
2542 Spring Park Rd, Jacksonville, FL 32207
Concrete block construction, quartz kitchen counters, and included washers and dryers.
Property Size2,132 SF
Price / SF$159.84
Days on Market26
Property Features for 2542 Spring Park Rd
General Information
Standard status
Active
Size
2,132 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
washer/dryer included
Building Details
Year Built
1954
Construction
concrete block
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
Listed By:
RENEA LEE OSBORNE
(904) 803-6272
Source:
Viewhomesonameliaisland
Added: Aug 8
Changed: Sep 2
Last Checked: Sep 1 at 7:41PM
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 HOMES REALTY & MTG LLC
Investment Insights
Based on property information with market context.
This duplex at 2542 Spring Park Rd in Jacksonville, FL offers 2,132 square feet with independent entrances serving the upper and lower units. The building uses concrete block construction, and both levels mirror the same floor plan and overall style. Washers and dryers are included with the property.
Recent improvements completed within the last six years include a replacement roof, downstairs A/C ductwork, a new A/C, interior and exterior paint, new flooring, and kitchen cabinet updates with quartz countertops. The separate-entry configuration provides distinct access to each unit while maintaining a consistent layout between floors.
Recent improvements completed within the last six years include a replacement roof, downstairs A/C ductwork, a new A/C, interior and exterior paint, new flooring, and kitchen cabinet updates with quartz countertops. The separate-entry configuration provides distinct access to each unit while maintaining a consistent layout between floors.
Key Highlights
- 2,132‑square‑foot duplex with separate entrances for upstairs and downstairs units
- Concrete block construction
- Roof replaced within the last six years
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
$20,019
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
5.87%
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%
$400,380
$400.4K
Cap Rate 7%
$285,986
$286.0K
Cap Rate 9%
$222,433
$222.4K
Market Conditions
NOI Build-Up for 2,132 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
$31.5K $14.76/SF
− Vacancy
−$2.9K −$1.35/SF
EGI
$28.6K $13.41/SF
− OpEx
−$8.6K −$4.02/SF
NOI
$20.0K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$400,380
Cap Rate 7%
$285,986
Cap Rate 9%
$222,433
Alternative Uses
Best Use
Multifamily LT 5
$286.0K
$250.2K – $333.7K
NOI $20,019 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$225.3K
$197.2K – $262.9K
NOI $15,773 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$584.0K
$511.0K – $681.4K
NOI $40,883 @ 7.0% cap · market cap 12.00%
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
978
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
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 - Concrete block construction, quartz kitchen counters, and included washers and dryers.
Where is this duplex located?
The property is located at 2542 Spring Park Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $340,777.
What are key features of this property?
This property features: 2,132‑square‑foot duplex with separate entrances for upstairs and downstairs units; Concrete block construction; Roof replaced within the last six years
