Duplex With Separate
New
For Sale
$340,777
2542 SPRING PARK Road, Jacksonville, FL 32207
MULTI_FAMILY - Jacksonville, FL
Property Size2,132 SF
Lot Size0.21 Acres
Price / SF$159.84
Days on Market3
Property Features for 2542 SPRING PARK Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1
Parking features
Guest, Parking Lot
Subdivision
Metes & Bounds
Directions
From Emerson St drive north on Spring Park Rd. Building is on the left.
Standard status
Active
APN
1253920000
Size
2,132 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3999
Utilities
Heating system
Electric (Heating), Hot Water(Heating), Central
Cooling system
Central Air, Separate Meters
Amenities
washer/dryer
Building Details
Year built
1954
Number of units
2
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
(904) 996-9115
Listed By:
RENEA LEE OSBORNE
(904) 803-6272
Added: Aug 12
Last Checked: Aug 14 at 4:06AM
MLS# 2159818
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 contains 2,132 square feet in two vertically arranged units, each with its own entrance. The property was built in 1954 with solid concrete block construction and includes central air conditioning with separate meters. Washers and dryers convey with the property, supporting the existing two-unit configuration.
Updates completed within the last six years include a roof replacement, downstairs A/C ductwork, a new A/C system, interior and exterior paint, new flooring, and kitchen cabinet upgrades with quartz countertops. The 0.21-acre lot also includes guest and parking-lot spaces. One tree could be removed to create room for RV parking or a tiny home, subject to zoning confirmation.
Updates completed within the last six years include a roof replacement, downstairs A/C ductwork, a new A/C system, interior and exterior paint, new flooring, and kitchen cabinet upgrades with quartz countertops. The 0.21-acre lot also includes guest and parking-lot spaces. One tree could be removed to create room for RV parking or a tiny home, subject to zoning confirmation.
Key Highlights
- 2,132 square feet arranged as a duplex
- Separate entrances for the upstairs and downstairs units
- Solid concrete block construction; built in 1954
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
601
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 with refreshed interiors, separate cooling meters, and laundry appliances included.
Where is this duplex located?
The property is located at 2542 SPRING PARK Road 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 feet arranged as a duplex; Separate entrances for the upstairs and downstairs units; Solid concrete block construction; built in 1954
