Two-Unit Duplex with Metal
For Sale
$265,000
3 Ellinor Ct, Pensacola, FL 32507
Each residence has its own split-system HVAC, with one side remodeled for immediate occupancy or leasing.
Property Size1,350 SF
Price / SF$196.30
Days on Market12
Property Features for 3 Ellinor Ct
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Residential Income
Property Condition
Severity
Minor
Evidence
add your own finishing touches
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Listing Agency:
Postcard Realty, Inc.
(325) 668-0565
Listed By:
Alicia Copes
(325) 668-0565
Source:
Exprealty
Added: Aug 5
Changed: Aug 12
Last Checked: Aug 15 at 9:28AM
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 Postcard Realty, Inc.
Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with 2 bedrooms and 1 bathroom, within 1,350 square feet. Separate split-unit HVAC systems serve the units, and the property has a metal roof. The B-side has been remodeled with fresh interior paint, an updated bathroom vanity, refreshed kitchen countertops, ceiling fans, and new appliances installed in 2026, including a tankless water heater, stackable washer and dryer, and oven/range. It is ready for occupancy or leasing. The A-side remains available for additional finishing work.
Located at 3 Ellinor Ct in Pensacola’s Navy Point community, the property provides access to downtown Pensacola, NAS Pensacola, waterfront parks, shopping, and dining. The two-unit configuration supports both rental use and owner occupancy with an additional residence on site.
Located at 3 Ellinor Ct in Pensacola’s Navy Point community, the property provides access to downtown Pensacola, NAS Pensacola, waterfront parks, shopping, and dining. The two-unit configuration supports both rental use and owner occupancy with an additional residence on site.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per residence
- 1,350 square feet with separate split‑unit HVAC systems for each unit
- Metal roof provides a durable exterior improvement
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
$13,287
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
5.01%
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%
$265,740
$265.7K
Cap Rate 7%
$189,814
$189.8K
Cap Rate 9%
$147,633
$147.6K
Market Conditions
NOI Build-Up for 1,350 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
$21.9K $16.20/SF
− Vacancy
−$2.9K −$2.14/SF
EGI
$19.0K $14.06/SF
− OpEx
−$5.7K −$4.22/SF
NOI
$13.3K $9.84/SF
Area
Escambia County, FL
Vacancy
13.21%
Lease Rate
$16.20 /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%
$265,740
Cap Rate 7%
$189,814
Cap Rate 9%
$147,633
Alternative Uses
Best Use
Multifamily LT 5
$189.8K
$166.1K – $221.5K
NOI $13,287 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$174.3K
$152.5K – $203.3K
NOI $12,198 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$396.2K
$346.7K – $462.2K
NOI $27,734 @ 7.0% cap · market cap 10.47%
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
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 32507, FL
31,215
Population
19,131
Households
1.6
Avg Household Size
44
Median Age
32%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
1,119
Density / Sq Mi
$69,802
Median Household Income
$38,000
Median Earnings
$1,238
Median Rent
$267,100
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 - Each residence has its own split-system HVAC, with one side remodeled for immediate occupancy or leasing.
Where is this duplex located?
The property is located at 3 Ellinor Ct Pensacola, 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: Two‑unit duplex with 2 bedrooms and 1 bathroom per residence; 1,350 square feet with separate split‑unit HVAC systems for each unit; Metal roof provides a durable exterior improvement
