Historic Duplex with Newer
For Sale
$530,000
2701 Myra St, Jacksonville, FL 32204
Turnkey duplex featuring newer roof and original hardwood floors, with separate 3BR/1BA upstairs and downstairs units.
Property Size2,130 SF
Price / SF$248.83
Days on Market190
Property Features for 2701 Myra St
General Information
Standard status
Active
Size
2,130 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1927
Stories
2
Tenancy
Multi
Listing Agency:
TRADITIONS REALTY LLC
Listed By:
JOEL DAVIS · License #3448954
(904) 607-4090
Source:
Myfirstcoasthomesearch
Added: Mar 29
Changed: Oct 1
Last Checked: Oct 2 at 9:06PM
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 TRADITIONS REALTY LLC
Investment Insights
Based on property information with market context.
This historic duplex offers a turnkey setup with timeless character and modern peace of mind. Both the upstairs and downstairs units are configured as three-bedroom, one-bath layouts and include original hardwood floors along with cozy fireplaces. The property also features a newer roof, supporting day-to-day confidence for either long-term tenancy or owner occupancy.
Located in Jacksonville’s highly coveted Historic Riverside district, the home is described as being mere blocks from Riverside’s dining, boutique shopping, and vibrant entertainment. The surrounding area is positioned as an active urban environment, making convenience a meaningful part of the property’s day-to-day appeal.
For tenants and buyers seeking a residential income property, the duplex structure provides the practical benefit of two separate 3BR/1BA residences under one ownership. It can also work well for an owner-occupant approach, where you can live in one unit while the other helps offset ownership costs. With the upstairs and downstairs homes already in place as fully defined living spaces, the property is straightforward to manage and easy to market to similar tenant profiles.
Located in Jacksonville’s highly coveted Historic Riverside district, the home is described as being mere blocks from Riverside’s dining, boutique shopping, and vibrant entertainment. The surrounding area is positioned as an active urban environment, making convenience a meaningful part of the property’s day-to-day appeal.
For tenants and buyers seeking a residential income property, the duplex structure provides the practical benefit of two separate 3BR/1BA residences under one ownership. It can also work well for an owner-occupant approach, where you can live in one unit while the other helps offset ownership costs. With the upstairs and downstairs homes already in place as fully defined living spaces, the property is straightforward to manage and easy to market to similar tenant profiles.
Key Highlights
- Income‑producing duplex built in 1927 in Jacksonville’s Historic Riverside district
- Separate upstairs and downstairs units, each offering 3 bedrooms and 1 bathroom
- Upstairs unit rents for $1,795 per month
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
$20,000
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
3.77%
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%
$400,000
$400.0K
Cap Rate 7%
$285,714
$285.7K
Cap Rate 9%
$222,222
$222.2K
Market Conditions
NOI Build-Up for 2,130 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
$31.4K $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%
$400,000
Cap Rate 7%
$285,714
Cap Rate 9%
$222,222
Alternative Uses
Best Use
Multifamily LT 5
$285.7K
$250.0K – $333.3K
NOI $20,000 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$225.1K
$197.0K – $262.6K
NOI $15,758 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$583.5K
$510.6K – $680.8K
NOI $40,845 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex featuring newer roof and original hardwood floors, with separate 3BR/1BA upstairs and downstairs units.
Where is this duplex located?
The property is located at 2701 Myra St Jacksonville, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Income‑producing duplex built in 1927 in Jacksonville’s Historic Riverside district; Separate upstairs and downstairs units, each offering 3 bedrooms and 1 bathroom; Upstairs unit rents for $1,795 per month
