Updated Duplex with Off-Street
For Sale
$389,900
2876 COLLEGE Street, Jacksonville, FL 32205
Two separately metered residences offer flexible occupancy and investment use in Jacksonville’s Riverside/Avondale Historic District.
Property Size2,008 SF
Days on Market12
Property Features for 2876 COLLEGE Street
General Information
Standard status
Active
Size
2,008 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,264
Amenities
in-unit stacked laundry
granite countertops
off-street parking
separate water and electric meters
tankless water heaters
Building Details
Building Size
2,008 SF
Year Built
1926
Buildings
1
Listing Agency:
NOMAD REALTY
Listed By:
RICHARD STANCATO · License #BK3393478
(904) 428-9269
Source:
Houseandhavenrealty
Added: Sep 15
Changed: Sep 20
Last Checked: Sep 24 at 3:31PM
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 NOMAD REALTY
Investment Insights
Based on property information with market context.
Built in 1926, this 2,008-square-foot duplex contains two three-bedroom, one-bath units. Each residence has its own water and electric meter, along with an updated kitchen featuring granite countertops, newer cabinetry, and appliances. In-unit stacked laundry adds practical convenience. Newer tankless water heaters, a new 2026 roof, and 2020 foundation reinforcement are also in place. The exterior has been primed for a future finish color selected by the buyer.
A large driveway along the side and rear provides off-street parking. The property is in Jacksonville’s Riverside/Avondale Historic District, with walkable access to King Street dining and nightlife. Avondale, Murray Hill, parks, and restaurants are located minutes away.
A large driveway along the side and rear provides off-street parking. The property is in Jacksonville’s Riverside/Avondale Historic District, with walkable access to King Street dining and nightlife. Avondale, Murray Hill, parks, and restaurants are located minutes away.
Key Highlights
- Two 3‑bedroom/1‑bath units within a 2,008 SF duplex
- Separate water and electric meters for each unit
- Updated kitchens with granite countertops, newer cabinetry, and appliances
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
$18,855
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
4.84%
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%
$377,100
$377.1K
Cap Rate 7%
$269,357
$269.4K
Cap Rate 9%
$209,500
$209.5K
Market Conditions
NOI Build-Up for 2,008 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
$29.6K $14.76/SF
− Vacancy
−$2.7K −$1.35/SF
EGI
$26.9K $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%
$377,100
Cap Rate 7%
$269,357
Cap Rate 9%
$209,500
Alternative Uses
Best Use
Multifamily LT 5
$269.4K
$235.7K – $314.3K
NOI $18,855 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$212.2K
$185.7K – $247.6K
NOI $14,856 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$550.1K
$481.3K – $641.8K
NOI $38,505 @ 7.0% cap · market cap 9.88%
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
1,239
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 separately metered residences offer flexible occupancy and investment use in Jacksonville’s Riverside/Avondale Historic District.
Where is this duplex located?
The property is located at 2876 COLLEGE Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Two 3‑bedroom/1‑bath units within a 2,008 SF duplex; Separate water and electric meters for each unit; Updated kitchens with granite countertops, newer cabinetry, and appliances
