Duplex Under
New
For Sale
$285,000
320 N Cherry Street, Monticello, FL 32344
Two separate units provide a bathroom in each, with renovation work underway across the property.
Property Size1,890 SF
Price / SF$150.79
Days on Market5
Property Features for 320 N Cherry Street
General Information
Standard status
Active
Size
1,890 SF
Property subtype
CommercialSale
Additional Details
Multifamily Units
2
Amenities
No
Yes
Level
Public
0.05
Common,Paved,Public,ParkingSpaces
Paved
1890.0
PublicMaintainedRoad
Building Details
Building Size
1,890 SF
Buildings
1
Listing Agency:
Kelly & Kelly Properties, Inc
(850) 752-0557
Listed By:
Tammy Prichard
Source:
Cloverkeyrealty
Added: Oct 30
Changed: Nov 3
Last Checked: Nov 3 at 6:25AM
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 Kelly & Kelly Properties, Inc
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Investment Insights
Based on property information with market context.
This 1,890-square-foot duplex consists of two units identified at 310 and 320 N. Cherry Street. Each unit has a bathroom. Renovation work is underway, including a roof installed in 2025, replacement front windows, and vinyl plank flooring across most of the building.
Key Highlights
- 1,890‑square‑foot duplex with two units
- Each unit includes a bathroom
- Roof replaced in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,804
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,080
$396.1K
Cap Rate 7%
$282,914
$282.9K
Cap Rate 9%
$220,044
$220.0K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$30.6K $16.20/SF
− Vacancy
−$2.3K −$1.23/SF
EGI
$28.3K $14.97/SF
− OpEx
−$8.5K −$4.49/SF
NOI
$19.8K $10.48/SF
Area
Jefferson County, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,080
Cap Rate 7%
$282,914
Cap Rate 9%
$220,044
Alternative Uses
Best Use
Multifamily LT 5
$282.9K
$247.6K – $330.1K
NOI $19,804 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$245.9K
$215.2K – $286.9K
NOI $17,214 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$463.3K
$405.4K – $540.6K
NOI $32,434 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
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Business Placement
Demographics for 32344, FL
12,705
Population
5,988
Households
2.1
Avg Household Size
49
Median Age
21%
College-Educated
87%
High-School Grad
444.6 sq mi
ZIP Area
29
Density / Sq Mi
$52,222
Median Household Income
$37,131
Median Earnings
$776
Median Rent
$208,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units provide a bathroom in each, with renovation work underway across the property.
Where is this duplex located?
The property is located at 320 N Cherry Street Monticello, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,890‑square‑foot duplex with two units; Each unit includes a bathroom; Roof replaced in 2025
