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OFF-MARKET / CBS / 3-PLEX VALUE-ADD | North Springfield (32206) | Jacksonville, FL

• 4 Beds / 3 Baths • 1,700 SqFt

Pending

Offer Submission Deadline

House Type Single Family House
Bedrooms 4
Bathrooms 3
Year Built 1938
Approx.SqFt. 1700
Lot size SqFt. 1700
Garage No Garage

Description

138 W 32nd St, Jacksonville, FL 32206 (Confirmed triplex)

Approx 1,700 SF | 4 bed / 3 bath | Built 1938 | Lot ~5,471 SF

Deal Numbers

Purchase Price: 99k
Rehab: 85k
All-in Basis (incl. ~3% buy closing): ~187.0k
(99.0k + 3.0k + 85.0k = 186.97k)

Flip Exit (6% selling costs)

Estimated Profit @ 240k ARV: ~38.6k
Estimated ROI: ~20.7%

Sensitivity

225k ARV: ~24.5k profit (~13.1% ROI)
245k ARV: ~43.3k profit (~23.2% ROI)

Using your total of $2,450/month as NOI, here’s the cap rate on the current total basis:

Total Basis: ~$186.97k (99k purchase + ~3% closing + 85k rehab)
NOI: $2,450/mo × 12 = $29,400/yr
Cap Rate: $29,400 ÷ $186,970 = 0.1572 ≈ 15.7%
Cap Rate (on total basis): ~15.7%

20% vacancy reduces math Example

Effective monthly (after 20% vacancy): $2,450 × (1 − 0.20) = $1,960/month
Effective annual: $1,960 × 12 = $23,520/year

Using your total basis ~ $186,970 (99k purchase + ~3% closing + 85k rehab):

Cap rate (after 20% vacancy): $23,520 ÷ $186,970 = 0.1258 ≈ 12.6%
After 20% vacancy: $1,960/mo ($23,520/yr) → ~12.6% cap rate (on ~$186.97k basis)

COMPS:

Primary sold triplex comp (most similar): 423 Linwood Ave — Triplex, 1,630 SF, sold 12/29/2025 for 190k ( 117/SF) ()
Smaller sold triplex (supports lower band): 516 Linwood Ave — Triplex, 1,196 SF, sold 12/17/2025 for 130k (109/SF) ()
623 Linwood Ave — Duplex, 2,076 SF, sold 01/14/2026 for 219,9k (106/SF)
402 E 27th St — 4-unit (2 duplexes), 2,560 SF, sold 06/27/2025 for 280k (109/SF)

Next Steps

Contact us if you need more information
Schedule a property walkthrough (if applicable)
Make an offer directly on this page
Sign assignment agreement or a straight direct agreement
Send EMD within 3 hours of signing the agreement
Lock up the Deal
Make MONEY and REPEAT :)

For questions or making a deal happen, call me,

George 954-994-2232 or ‪(954) 282-1367‬ or 954-994-2232

Disclaimers

IMPORTANT: This listing represents an assignment of a purchase contract or direct contract as Double Close (if applicable), not a direct property sale. Buyer is responsible for conducting their own due diligence. All information provided is believed to be accurate, but not guaranteed. This opportunity is offered to qualified real estate investors only. This is not a retail property listing, and no real estate agent relationships are implied or established through this marketing material.

Time-sensitive opportunity - this contract is being offered to multiple investors.