Duplex with Two-Story
New
For Sale
$525,000
2745 DOWNING Street, Jacksonville, FL 32205
Residential Income, Jacksonville, FL
Property Size2,013 SF
Lot Size0.15 Acres
Price / SF$260.80
Days on Market3
Property Features for 2745 DOWNING Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 3
Parking features
Off Street
Exterior features
Balcony
Appliances
Dishwasher, Dryer, Electric Range, Microwave, Refrigerator, Washer, Washer/Dryer Stacked
Subdivision
New Riverside
Lot features
Historic Area
Elementary school
West Riverside
Middle school
Lake Shore
High school
Riverside
Directions
From the corner of Margaret Street and Park Street, take Park St west to King St turn right onto King St to left onto Forbes St to sign.
Standard status
Active
APN
0643240000
Size
2,013 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6943
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Multi Units, Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
front porch
professional landscaping
washer and dryer
upper balcony
fully equipped kitchen
private driveway
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood
Roof type
Shingle
Additional Structures
Guest House
Listing Agency:
TRADITIONS REALTY LLC
(904) 683-5230
Listed By:
BETH KING · License #3154601
(904) 705-7154
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 2 at 7:06PM
MLS# 2167052
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 2,013-square-foot duplex pairs a bungalow with a separate two-story cottage on a 0.15-acre lot. The main residence includes a front porch, enclosed laundry closet, and updated bathroom, along with refreshed flooring, lighting, and interior paint. The cottage has its own porch and balcony, a full kitchen, one full bathroom and one half bath, and a separate laundry setup. Both residences offer distinct living space and access to off-street parking. Built in 1922, the property also has public water and sewer service.
The property is in Jacksonville’s Riverside/Avondale area, with neighborhood parks, river views, shops, restaurants, nightlife, and a movie theater described as a short walk away. The two dwellings support a range of household arrangements, including occupancy of one residence while renting the other or leasing both.
The property is in Jacksonville’s Riverside/Avondale area, with neighborhood parks, river views, shops, restaurants, nightlife, and a movie theater described as a short walk away. The two dwellings support a range of household arrangements, including occupancy of one residence while renting the other or leasing both.
Key Highlights
- Two residences: a bungalow and a separate two‑story cottage
- 2,013 square feet on a 0.15‑acre lot
- Built in 1922
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
$18,902
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
3.60%
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%
$378,040
$378.0K
Cap Rate 7%
$270,029
$270.0K
Cap Rate 9%
$210,022
$210.0K
Market Conditions
NOI Build-Up for 2,013 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
$29.7K $14.76/SF
− Vacancy
−$2.7K −$1.35/SF
EGI
$27.0K $13.41/SF
− OpEx
−$8.1K −$4.02/SF
NOI
$18.9K $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%
$378,040
Cap Rate 7%
$270,029
Cap Rate 9%
$210,022
Alternative Uses
Best Use
Multifamily LT 5
$270.0K
$236.3K – $315.0K
NOI $18,902 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$212.8K
$186.2K – $248.2K
NOI $14,893 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$551.4K
$482.5K – $643.4K
NOI $38,601 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,083
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
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 - Two separate residences provide flexibility for household use or rental income.
Where is this duplex located?
The property is located at 2745 DOWNING Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two residences: a bungalow and a separate two‑story cottage; 2,013 square feet on a 0.15‑acre lot; Built in 1922
