Well-Maintained Duplex Near
2871/2873 Mission Road Tallahassee, FL 32304
2871/2873 Mission Road, Tallahassee, FL, 32304
$265,000
For Sale
$265,000
Updated duplex with newer roof and HVAC, close to universities.
Property Size1,782 SF
Price / SF$148.71
Days on Market746
Property Features for 2871/2873 Mission Road
General Information
- Standard status
- Active
- Size
- 1,782 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1979
Listing Agency
Keller Williams Town & Country
(352) 216-5749
Listed by
Shanai Inns · License #3402747
(352) 216-5749
Source
Exitrealty
Added: Jul 2, 2024 Checked: Jul 16 at 6:32 am
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 Keller Williams Town & Country
Investment Insights
Based on property information with market context.
This well-maintained duplex is situated on a corner lot in a desirable location, offering proximity to Florida State University (FSU) and Tallahassee Community College (TCC). The property features a newer roof (installed in 2019) and HVAC systems (also installed in 2019). Both units have been updated with vinyl flooring throughout and new carpet in the bedrooms. Each unit includes a large kitchen with an eat-in dining area and a covered patio in the back, which overlooks a fenced backyard. A circular driveway provides ample parking. The property size is 1782 square feet. The duplex is located at 2871/2873 Mission Road, Leon, FL 32304.
Key Highlights
- Excellent Investment Opportunity: Well‑maintained duplex with a proven zero vacancy rate, offering easy, low‑maintenance rentals.
- Prime Location: Desirable corner lot location, conveniently close to FSU and TCC.
- Updated and Move‑In Ready: Both units feature updated vinyl flooring throughout and new carpet in the bedrooms.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.9k | $16.20 |
| − Vacancy | −$2.2k | −$1.23 |
| EGI | $26.7k | $14.97 |
| − OpEx | −$8.0k | −$4.49 |
| NOI | $18.7k | $10.48 |
1,782 SF · lease $16.20/SF/yr · vacancy 7.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$266.7K
$233.4K – $311.2K
NOI $18,672 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$231.9K
$202.9K – $270.5K
NOI $16,230 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$436.9K
$382.3K – $509.7K
NOI $30,581 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Updated duplex with newer roof and HVAC, close to universities.
Where is this duplex located?
The property is located at 2871/2873 Mission Road Tallahassee, FL.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Excellent Investment Opportunity: Well‑maintained duplex with a proven zero vacancy rate, offering easy, low‑maintenance rentals.; Prime Location: Desirable corner lot location, conveniently close to FSU and TCC.; Updated and Move‑In Ready: Both units feature updated vinyl flooring throughout and new carpet in the bedrooms.
