Renovated Two-Unit
For Sale
$599,000
714 WREN Drive, Fernandina Beach, FL 32034
Both residences have fenced private yards and updated interior finishes.
Property Size2,040 SF
Lot Size0.23 Acres
Price / SF$293.63
Days on Market128
Property Features for 714 WREN Drive
General Information
Standard status
Active
Size
2,040 SF
Lot size
0.23 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Amenities
private fenced backyards
Building Details
Year Built
1986
Listing Agency:
CENTURY 21 MILLER ELITE
(904) 261-5571
Listed By:
Rebekah Neilson
(207) 239-6601
Source:
Atlanticsaltrealty
Added: Jun 27
Changed: Oct 30
Last Checked: Oct 30 at 2:40PM
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 CENTURY 21 MILLER ELITE
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each with 2 bedrooms and 1.5 bathrooms, within a 2,040-square-foot building. Interior updates include granite countertops, laminate flooring, and refreshed finishes; the exterior has also been repainted. Each unit has its own fenced backyard. The property was built in 1986 and occupies a 100-by-100-foot lot.
The address is 714 Wren Drive in Fernandina Beach, Florida. Amelia Island beaches and downtown are described as a short distance away.
The address is 714 Wren Drive in Fernandina Beach, Florida. Amelia Island beaches and downtown are described as a short distance away.
Key Highlights
- Two units, each with 2 bedrooms and 1.5 bathrooms
- 2,040‑square‑foot duplex built in 1986
- 100‑by‑100‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,077
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,540
$361.5K
Cap Rate 7%
$258,243
$258.2K
Cap Rate 9%
$200,856
$200.9K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$28.9K $14.16/SF
− Vacancy
−$3.1K −$1.50/SF
EGI
$25.8K $12.66/SF
− OpEx
−$7.7K −$3.80/SF
NOI
$18.1K $8.86/SF
Area
Nassau County, FL
Vacancy
10.60%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,540
Cap Rate 7%
$258,243
Cap Rate 9%
$200,856
Alternative Uses
Best Use
Multifamily LT 5
$258.2K
$226.0K – $301.3K
NOI $18,077 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$227.8K
$199.3K – $265.8K
NOI $15,945 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$544.2K
$476.1K – $634.9K
NOI $38,091 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
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Business Placement
Demographics for 32034, FL
38,167
Population
21,768
Households
1.8
Avg Household Size
56
Median Age
54%
College-Educated
97%
High-School Grad
65.0 sq mi
ZIP Area
587
Density / Sq Mi
$97,756
Median Household Income
$48,467
Median Earnings
$1,399
Median Rent
$484,200
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 - Both residences have fenced private yards and updated interior finishes.
Where is this duplex located?
The property is located at 714 WREN Drive Fernandina Beach, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1.5 bathrooms; 2,040‑square‑foot duplex built in 1986; 100‑by‑100‑foot lot
