Two-Unit Duplex with
New
For Sale
$239,000
6309 & 6311 Placid Place, Tallahassee, FL 32303
MULTI_FAMILY - Other - Tallahassee, FL
Property Size1,664 SF
Price / SF$143.63
Days on Market2
Property Features for 6309 & 6311 Placid Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 4, Bathroom 1, Bedroom 4
Parking features
Assigned
Patio and Porch features
Patio
Exterior features
Fence
Fencing
Fenced
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
Sterling Woods
Elementary school
SPRINGWOOD
Middle school
GRIFFIN
High school
GODBY
Directions
Cap Circle NW to Tower Rd, L on Bombadil, L on Lumberjack, L on Placid
Standard status
Active
APN
12073-21-06-78- E-023-0
Utilities
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Central Air, Electric
Building Details
Year built
1990
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
VinylSiding
Architectural style
Other
Listing Agency:
Coldwell Banker Hartung
(850) 386-6160
Listed By:
Chris Cicatello · License #3045637
(850) 519-2624
Added: Aug 17
Last Checked: Aug 18 at 10:06PM
MLS# 403774
Copyright © 2026 Tallahassee Board of Realtors. 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 duplex includes two matching residences, each offering 2 bedrooms, 2 baths, and 832 SF. Interior layouts provide a living-dining area, a pass-through connection to the galley kitchen, and bedrooms with private baths featuring single vanities and tub/shower combinations. Kitchens include a refrigerator, range, microwave, and dishwasher. Vinyl flooring runs throughout both units without carpet, while central electric heating and cooling serve the interiors.
Built in 1990, the property has vinyl siding, fenced yards, assigned parking, and patios. Recent property improvements include a newer roof, updated paint, and newer flooring. The duplex is located in northwest Tallahassee at 6309 & 6311 Placid Place.
Built in 1990, the property has vinyl siding, fenced yards, assigned parking, and patios. Recent property improvements include a newer roof, updated paint, and newer flooring. The duplex is located in northwest Tallahassee at 6309 & 6311 Placid Place.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 baths in each residence
- Each side contains 832 SF
- Kitchens equipped with refrigerator, range, microwave, and dishwasher
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
$17,436
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
7.30%
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%
$348,720
$348.7K
Cap Rate 7%
$249,086
$249.1K
Cap Rate 9%
$193,733
$193.7K
Market Conditions
NOI Build-Up for 1,664 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
$27.0K $16.20/SF
− Vacancy
−$2.0K −$1.23/SF
EGI
$24.9K $14.97/SF
− OpEx
−$7.5K −$4.49/SF
NOI
$17.4K $10.48/SF
Area
Tallahassee, 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 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%
$348,720
Cap Rate 7%
$249,086
Cap Rate 9%
$193,733
Alternative Uses
Best Use
Multifamily LT 5
$249.1K
$218.0K – $290.6K
NOI $17,436 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$216.5K
$189.5K – $252.6K
NOI $15,156 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$407.9K
$357.0K – $475.9K
NOI $28,556 @ 7.0% cap · market cap 11.95%
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
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
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 - Well-maintained duplex with matching layouts, private baths, fenced yards, and low-maintenance exterior finishes.
Where is this duplex located?
The property is located at 6309 & 6311 Placid Place Tallahassee, FL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 baths in each residence; Each side contains 832 SF; Kitchens equipped with refrigerator, range, microwave, and dishwasher
