Courtyard
For Sale
Under Contract
$575,000
909 CEDAR Street, Jacksonville, FL 32207
MULTI_FAMILY - Jacksonville, FL
Property Size1,813 SF
Lot Size0.13 Acres
Price / SF$317.15
Days on Market116
Property Features for 909 CEDAR Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1
Parking features
Guest
Exterior features
Courtyard
Appliances
Dryer, Electric Oven, Electric Range, Microwave, Refrigerator, Washer, Washer/Dryer Stacked
Subdivision
Phillips Addn
Lot features
Historic Area
Middle school
Select One
Directions
From SR-13 N, L on San Marco Blvd. Turn L on Cedar St. From I-95N, Exit on Atlantic Blvd. Turn L on Atlantic. Turn R on Kings Ave. Turn L on Nira St. Turn L on San Marco Blvd. Turn R on Cedar St.
Standard status
Active Under Contract
APN
0807790000
Size
1,813 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6844
Utilities
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Multi Units
Water source
Public
Building Details
Year built
1924
Floors in Building
1
Number of units
3
Flooring type
Laminate, Tile, Wood
Listing Agency:
REAL BROKER LLC
(855) 450-0442
Listed By:
SOFIA GORDON
(904) 504-1800
Added: Apr 17
Changed: Aug 4
Last Checked: Aug 10 at 12:06PM
MLS# 2140610
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 turnkey triplex includes three furnished units plus a courtyard exterior feature. The unit mix consists of a 2BR/1BA, a studio, and a 1BR/1BA, each with private outdoor space. Appliances and interior finishes include items such as electric range and oven, microwave, refrigerator, and washer/dryer, along with laminate, tile, and wood flooring. Heating is electric, with cooling provided via window and wall/window units, and parking is listed as guest parking.
The property is on a 0.13-acre lot and has 1,813 square feet under roof. Built in 1924, it is served by public water and includes separate electric meters. Recent improvements are described as updated kitchens and baths, many new appliances, restored hardwood floors, LVP flooring in the studio, new windows, major plumbing and electrical updates, and newer systems.
Zoned CRO, the triplex is located at 909 Cedar Street in Jacksonville, FL, and the remarks describe it as being about one block from the river and within walking or biking distance to San Marco Square.
The property is on a 0.13-acre lot and has 1,813 square feet under roof. Built in 1924, it is served by public water and includes separate electric meters. Recent improvements are described as updated kitchens and baths, many new appliances, restored hardwood floors, LVP flooring in the studio, new windows, major plumbing and electrical updates, and newer systems.
Zoned CRO, the triplex is located at 909 Cedar Street in Jacksonville, FL, and the remarks describe it as being about one block from the river and within walking or biking distance to San Marco Square.
Key Highlights
- Three furnished units: 2BR/1BA, studio, and 1BR/1BA
- 0.13‑acre lot with 1,813 square feet
- Zoned CRO with separate electric meters
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
$17,024
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
2.96%
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%
$340,480
$340.5K
Cap Rate 7%
$243,200
$243.2K
Cap Rate 9%
$189,156
$189.2K
Market Conditions
NOI Build-Up for 1,813 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
$26.8K $14.76/SF
− Vacancy
−$2.4K −$1.35/SF
EGI
$24.3K $13.41/SF
− OpEx
−$7.3K −$4.02/SF
NOI
$17.0K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$340,480
Cap Rate 7%
$243,200
Cap Rate 9%
$189,156
Alternative Uses
Best Use
Multifamily LT 5
$243.2K
$212.8K – $283.7K
NOI $17,024 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$191.6K
$167.7K – $223.6K
NOI $13,413 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$496.7K
$434.6K – $579.4K
NOI $34,766 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,613
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
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?
Triplex - Triplex with a private courtyard, zoned CRO, and three furnished units with separate electric meters.
Where is this triplex located?
The property is located at 909 CEDAR Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three furnished units: 2BR/1BA, studio, and 1BR/1BA; 0.13‑acre lot with 1,813 square feet; Zoned CRO with separate electric meters
