Renovated Duplex Condo Dual-Key
For Sale
$270,000
311 W ASHLEY Street, Jacksonville, FL 32202
MULTI_FAMILY - Jacksonville, FL
Property Size984 SF
Price / SF$274.39
Days on Market98
Property Features for 311 W ASHLEY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bathroom 2
Parking features
Assigned, Parking Lot, On Street
Appliances
Electric Cooktop, Electric Water Heater, Microwave, Refrigerator
Subdivision
Residences At City Place
Lot features
Corner Lot
View
City
Directions
From I-95, take Exit 353B toward W Union St. Continue straight on W Union St. Right on N Laura St. Right on W Ashley St, City Place will be on your right. Street parking via ParkMobile app, M-F 8am-6pm.
Standard status
Active
APN
0739030070
Size
984 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2024
HOA Fee
$950 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Separate Meters, Central Air
Water source
Public
Amenities
fitness center
clubhouse
elevators
key-card entry
laundry
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Listing Agency:
JPAR CITY AND BEACH
(904) 370-3500
Listed By:
Amber L'Esperance · License #3370601
(904) 370-3540
Added: May 28
Changed: Aug 3
Last Checked: Sep 2 at 8:06AM
MLS# 2147558
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 renovated duplex condo features a dual-key floor plan with two private units (A and B) positioned behind one main entry door. The property is fully furnished and equipped for flexible short-term rental use, with the layout designed to operate as two controlled keys within one deeded parcel.
Built in 1949, the residence offers central cooling with separate meters, electric heating, and public water and public sewer service. Interior systems include central air, and electric and microwave appliances such as an electric cooktop, electric water heater, microwave, and refrigerator. Parking is available via a parking lot, with assigned parking and on-street spaces.
Located in Residences at City Place in Downtown Jacksonville, the property is in the Gateway Jax and Pearl Square growth zone near EverBank Stadium, Daily’s Place, VyStar Arena, UF Health, and the Federal Courthouse. On-site amenities include a fitness center, clubhouse, elevators, key-card entry, and laundry.
Cash only.
Built in 1949, the residence offers central cooling with separate meters, electric heating, and public water and public sewer service. Interior systems include central air, and electric and microwave appliances such as an electric cooktop, electric water heater, microwave, and refrigerator. Parking is available via a parking lot, with assigned parking and on-street spaces.
Located in Residences at City Place in Downtown Jacksonville, the property is in the Gateway Jax and Pearl Square growth zone near EverBank Stadium, Daily’s Place, VyStar Arena, UF Health, and the Federal Courthouse. On-site amenities include a fitness center, clubhouse, elevators, key-card entry, and laundry.
Cash only.
Key Highlights
- Renovated duplex condo with dual‑key floor plan: two private units behind one main entry door
- Fully furnished dual‑income layout for short‑term rental use
- 984 SF condo duplex built in 1949
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
$9,239
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
3.42%
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%
$184,780
$184.8K
Cap Rate 7%
$131,986
$132.0K
Cap Rate 9%
$102,656
$102.7K
Market Conditions
NOI Build-Up for 984 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
$14.5K $14.76/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$13.2K $13.41/SF
− OpEx
−$4.0K −$4.02/SF
NOI
$9.2K $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%
$184,780
Cap Rate 7%
$131,986
Cap Rate 9%
$102,656
Alternative Uses
Best Use
Multifamily LT 5
$132.0K
$115.5K – $154.0K
NOI $9,239 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$104.0K
$91.0K – $121.3K
NOI $7,280 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$269.6K
$235.9K – $314.5K
NOI $18,869 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 32202, FL
6,544
Population
2,789
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
78%
High-School Grad
2.0 sq mi
ZIP Area
3,272
Density / Sq Mi
$40,070
Median Household Income
$30,938
Median Earnings
$1,024
Median Rent
$229,100
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 - Renovated duplex condo with a dual-key floor plan offering two private units behind one main entry door.
Where is this duplex located?
The property is located at 311 W ASHLEY Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Renovated duplex condo with dual‑key floor plan: two private units behind one main entry door; Fully furnished dual‑income layout for short‑term rental use; 984 SF condo duplex built in 1949
