Furnished Short-Term Rental
For Sale
$270,000
311 W ASHLEY Street, Jacksonville, FL 32202
Residential Income, Jacksonville, FL
Property Size1,026 SF
Price / SF$263.16
Days on Market95
Property Features for 311 W ASHLEY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Condominium
Bedrooms
1
Rooms
Bedroom 1
Parking features
On Street, Parking Lot, Assigned
Appliances
Electric Cooktop, Electric Water Heater, Microwave, Refrigerator
Subdivision
Residences At City Place
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
0739030170
Size
1,026 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2133
HOA Fee
$951 Monthly
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
fitness center
clubhouse
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: Jun 6
Changed: Sep 5
Last Checked: Sep 8 at 4:06AM
MLS# 2149215
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 1,026-square-foot, seventh-floor corner condominium is configured as a dual-key duplex with two private units accessed through one primary entry. The residence is furnished and includes an electric cooktop, microwave, refrigerator, electric water heating, central air, and electric heating. Built in 1949, the property also offers assigned parking along with on-street and parking-lot options.
Located at Residences at City Place in Jacksonville, the property is positioned near EverBank Stadium, Daily’s Place, VyStar Arena, UF Health, and the Federal Courthouse. Building features include a fitness center, clubhouse, elevators, key-card access, and laundry facilities. Public water service is provided.
Located at Residences at City Place in Jacksonville, the property is positioned near EverBank Stadium, Daily’s Place, VyStar Arena, UF Health, and the Federal Courthouse. Building features include a fitness center, clubhouse, elevators, key-card access, and laundry facilities. Public water service is provided.
Key Highlights
- 1,026‑square‑foot seventh‑floor corner condominium
- Dual‑key layout with 2 private units behind one main entry
- Furnished residence with electric cooktop, microwave, and refrigerator
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
$7,591
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
2.81%
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%
$151,820
$151.8K
Cap Rate 7%
$108,443
$108.4K
Cap Rate 9%
$84,344
$84.3K
Market Conditions
NOI Build-Up for 1,026 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
$15.3K $14.88/SF
− Vacancy
−$1.5K −$1.43/SF
EGI
$13.8K $13.45/SF
− OpEx
−$6.2K −$6.05/SF
NOI
$7.6K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$151,820
Cap Rate 7%
$108,443
Cap Rate 9%
$84,344
Alternative Uses
Best Use
Apartment 5plus
$108.4K
$94.9K – $126.5K
NOI $7,591 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.1K
$245.9K – $327.9K
NOI $19,675 @ 7.0% cap · market cap 7.29%
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
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?
Short term rental property - Dual-key furnished residence with private units, central air, assigned parking, and access to shared building amenities.
Where is this short term rental property 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: 1,026‑square‑foot seventh‑floor corner condominium; Dual‑key layout with 2 private units behind one main entry; Furnished residence with electric cooktop, microwave, and refrigerator
