Tenant-Occupied Duplex
For Sale
$495,000
910 Wadsworth St, Tallahassee, FL 32304
Two side-by-side duplex residences with fenced outdoor space and professional management in place.
Property Size1,620 SF
Price / SF$305.56
Days on Market22
Property Features for 910 Wadsworth St
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$495,000
Multifamily Units
4
Amenities
fenced backyard
Building Details
Year Built
1951
Buildings
2
Listing Agency:
Tallahassee Real Estate Sol.
(850) 339-6995
Listed By:
Peggy Dye · License #3392974
Source:
Hopegainesrealestate
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 4:46PM
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 Tallahassee Real Estate Sol.
Investment Insights
Based on property information with market context.
This tenant-occupied residential income property consists of two adjoining duplex sets at 910 and 912 Wadsworth St, together with 902 Wadsworth and 1402 Nylic. The four-unit configuration totals 1,620 square feet, includes fenced backyards, and is professionally managed by Tallahassee Real Estate Solutions. The structures were built in 1951, with a newer roof installed in April 2020.
The property is near FSU and state offices in Tallahassee. The four units are occupied, and showings are available by appointment only. The related duplex properties have separate tax IDs.
The property is near FSU and state offices in Tallahassee. The four units are occupied, and showings are available by appointment only. The related duplex properties have separate tax IDs.
Key Highlights
- Four‑unit duplex configuration across two side‑by‑side duplex sets
- 1,620 square feet across the property
- Tenant occupied and professionally managed by Tallahassee Real Estate Solutions
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
$16,975
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
3.43%
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%
$339,500
$339.5K
Cap Rate 7%
$242,500
$242.5K
Cap Rate 9%
$188,611
$188.6K
Market Conditions
NOI Build-Up for 1,620 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
$26.2K $16.20/SF
− Vacancy
−$2.0K −$1.23/SF
EGI
$24.2K $14.97/SF
− OpEx
−$7.3K −$4.49/SF
NOI
$17.0K $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%
$339,500
Cap Rate 7%
$242,500
Cap Rate 9%
$188,611
Alternative Uses
Best Use
Multifamily LT 5
$242.5K
$212.2K – $282.9K
NOI $16,975 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$210.8K
$184.4K – $245.9K
NOI $14,755 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$397.2K
$347.5K – $463.4K
NOI $27,801 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
772
Businesses Nearby
Explore this area
Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
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 - Two side-by-side duplex residences with fenced outdoor space and professional management in place.
Where is this duplex located?
The property is located at 910 Wadsworth St Tallahassee, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four‑unit duplex configuration across two side‑by‑side duplex sets; 1,620 square feet across the property; Tenant occupied and professionally managed by Tallahassee Real Estate Solutions
