Waterfront Multifamily
For Sale
$319,500
742 Ridgeline Rd, Satsuma, FL 32189
Two mobile homes offer residential layouts with creek access and on-site waterfront improvements.
Property Size2,156 SF
Lot Size0.97 Acres
Price / SF$148.19
Days on Market231
Property Features for 742 Ridgeline Rd
General Information
Standard status
Active
Size
2,156 SF
Lot size
0.97 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$18,000
Amenities
dock
boat lift
cleaning station
sheds
Building Details
Year Built
1973
Buildings
2
Listing Agency:
MOMENTUM REALTY
(386) 530-1737
Listed By:
LINDSEY PARHAM · License #3507832
Source:
Myfirstcoasthomesearch
Added: Jan 13
Changed: Aug 31
Last Checked: Aug 31 at 5:42PM
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 MOMENTUM REALTY
Investment Insights
Based on property information with market context.
This multifamily property includes two mobile homes, each with two bedrooms and two bathrooms. The property size is 2,156 square feet, and the site also contains three sheds, including one with a full bathroom. The improvements were built in 1973.
Waterfront features along Dunn's Creek include a dock, boat lift, and fish-cleaning station. The parcel encompasses 0.97 acres and is located at 742 Ridgeline Rd, Satsuma, FL 32189. A preserve borders the neighboring property, limiting adjacent development on that side.
Waterfront features along Dunn's Creek include a dock, boat lift, and fish-cleaning station. The parcel encompasses 0.97 acres and is located at 742 Ridgeline Rd, Satsuma, FL 32189. A preserve borders the neighboring property, limiting adjacent development on that side.
Key Highlights
- Two mobile homes, each with 2 bedrooms and 2 bathrooms
- 0.97‑acre property along Dunn's Creek
- Dock, boat lift, and fish‑cleaning station
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
$16,242
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
5.08%
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%
$324,840
$324.8K
Cap Rate 7%
$232,029
$232.0K
Cap Rate 9%
$180,467
$180.5K
Market Conditions
NOI Build-Up for 2,156 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
$31.8K $14.76/SF
− Vacancy
−$2.3K −$1.06/SF
EGI
$29.5K $13.70/SF
− OpEx
−$13.3K −$6.16/SF
NOI
$16.2K $7.53/SF
Area
Putnam County, FL
Vacancy
7.20%
Lease Rate
$14.76 /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%
$324,840
Cap Rate 7%
$232,029
Cap Rate 9%
$180,467
Alternative Uses
Best Use
Apartment 5plus
$232.0K
$203.0K – $270.7K
NOI $16,242 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$561.5K
$491.3K – $655.1K
NOI $39,304 @ 7.0% cap · market cap 12.30%
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
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 32189, FL
5,887
Population
3,619
Households
1.6
Avg Household Size
53
Median Age
13%
College-Educated
78%
High-School Grad
29.3 sq mi
ZIP Area
201
Density / Sq Mi
$42,566
Median Household Income
$31,875
Median Earnings
$819
Median Rent
$118,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Two mobile homes offer residential layouts with creek access and on-site waterfront improvements.
Where is this multifamily property located?
The property is located at 742 Ridgeline Rd Satsuma, FL.
What is the asking price?
The asking price for this property is $319,500.
What are key features of this property?
This property features: Two mobile homes, each with 2 bedrooms and 2 bathrooms; 0.97‑acre property along Dunn's Creek; Dock, boat lift, and fish‑cleaning station
