311 W Ashley St #1504 · Jacksonville, FL 32202

$89,500

1 bd · 1.0 ba · 456 sqft · Condo public records · 57 Days on market

Built 1949 $452/mo HOA · 37% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• 1% rule +8.6/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Appreciation +4.5/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Rent growth +1.7/5.0

Listing remarks MLS

Breathtaking views from this 15th floor move in ready and remodeled downtown ''Residences at City Place'' Condo. Secured high rise, convenient to downtown attractions. Onsite Amenities include, Gym, Media Room/w/Free WIFI, Laundry, Restaurant and Management. THIS IS NOT A STUDIO! IT IS A TRUE ONE BEDROOM! Another plus; the water & HOT water are included in the Condo Fees.

Key facts

• Secured entrance
• Gym
• On-site management

Tags

• SECURED ENTRANCE
• GYM
• ON-SITE LAUNDRY
• COMMON AREA WITH WIFI
• ON-SITE MANAGEMENT
• DEVELOPING PEARL SQUARE AREA

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities include elevator(s), fitness center, and on-site management; Has association

Exterior

• Parking: On-street parking; Other parking
• Security: Secured lobby
• Utilities: Public sewer; Cable available; Electricity connected; Water available
• Home design: Condominium; One level; Entry on 17th floor; 17-story building; Residential use
• Exterior features: City street frontage; Asphalt road surface

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Secured lobby
• Laundry & utility: Unfurnished unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $71k (20.7% below list).
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $71k (20.7% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 3.9% in Jacksonville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#50 in FL, #911 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Duval (urban): math 46% / reading 45% proficiency, ranked #48 of 73 in FL (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John E. Ford K-8 School (math 31% / reading 36%, grade F, #1,758 of 2,144 statewide, top 83%, 622 students, 58% FRL); Matthew W. Gilbert Middle School (math 26% / reading 17%, grade F, #553 of 571 statewide, top 97%, 688 students, 86% FRL); Andrew Jackson High School (math 30% / reading 26%, grade F, #464 of 667 statewide, top 70%, 870 students, 54% FRL) — zoned schools average 66% FRL vs 49% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 46% district-wide (-18 pts) — the specific schools serving this property underperform the Duval average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-3.0%/yr); 36 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $619 of loan paydown is wiped out by about $853 of value loss. Plan a longer hold.
• Duval County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $90k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,999 (20.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 4.89%
• Cash-on-cash: -5.01%
• DSCR: 0.78
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.95% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.34×
• Total profit: $-16,497
• Equity at exit: $21,803

10-year hold

• IRR: -14.5%
• Equity multiple: -0.12×
• Total profit: $-28,067
• Equity at exit: $23,065

Cash invested: $25,060 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32202

• Home prices YoY: -1.7%
• Rents YoY: -3.0%
• Active inventory: 36
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,218 high
• Mortgage (P&I): −$469
• Tax from tax record: −$108 /mo · $1,296/yr
• Insurance: −$37
• HOA: −$452
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-105

Break-even live

Break-even rent $1,350

Max offer price $70,999

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-79	+0% $-105	+5% $-130	+10% $-155
Rent	-10% $-201	-5% $-153	+0% $-105	+5% $-57	+10% $-9
Rate	-1.0pp $-60	-0.5pp $-82	base $-105	+0.5pp $-128	+1.0pp $-152

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
311 W Ashley St Jacksonville, FL	1.0	1.0	278	$1,275	$4.59	16d	3	0.02mi
311 W Ashley St Jacksonville, FL	1.0	1.0	336	$1,275	$3.79	25d	4	0.02mi
412 E Ashley St Jacksonville, FL	—	1.0	320	$894	$2.79	6d	3	0.62mi
412 E Ashley St Jacksonville, FL	—	1.0	320	$890	$2.78	18d	2	0.62mi
412 E Ashley St Unit 105 Jacksonville, FL	—	1.0	320	$869	$2.72	25d	1	0.62mi
412 E Ashley St Unit 106 Jacksonville, FL	—	1.0	320	$884	$2.76	25d	1	0.62mi
1413 Prudential Dr Jacksonville, FL	—	1.0	300	$1,769	$5.90	9d	1	1.11mi

HOA detail condo

• Monthly dues: $452 · $5,424/yr
• Likely covers: waterinternetgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-05-10
   status Pending
2. 2026-04-23
   price $89,500
3. 2026-04-01
   price $91,450
4. 2026-03-09
   listed $95,000 Active
5. 2024-11-23
   historical $1,050
6. 2024-11-19
   historical $1,050
7. 2024-11-07
   listed $1,050
8. 2024-10-24
   listed $1,100
9. 2024-10-24
   historical $1,100
10. 2024-10-24
    listed $1,100
11. 2014-08-13
    soldstatus $38,000
12. 2014-07-31
    soldstatus $38,000 378-char remark

    Show marketing remark (378 chars)

    Breathtaking views from this 15th floor move in ready and remodeled downtown ''Residences at City Place'' Condo. Secured high rise, convenient to downtown attractions. Onsite Amenities include, Gym, Media Room/w/Free WIFI, Laundry, Restaurant and Management. THIS IS NOT A STUDIO! IT IS A TRUE ONE BEDROOM! Another plus; the water & HOT water are included in the Condo Fees.

13. 2014-05-23
    listed $40,000 378-char remark

    Show marketing remark (378 chars)

    Breathtaking views from this 15th floor move in ready and remodeled downtown ''Residences at City Place'' Condo. Secured high rise, convenient to downtown attractions. Onsite Amenities include, Gym, Media Room/w/Free WIFI, Laundry, Restaurant and Management. THIS IS NOT A STUDIO! IT IS A TRUE ONE BEDROOM! Another plus; the water & HOT water are included in the Condo Fees.

14. 2012-04-09
    historical 626-char remark

    Show marketing remark (626 chars)

    PRICE REDUCED!! Live Downtown!!! This 1/1, 456 SF Condo is in the center of bustling downtown. Explore the possibilities...You can't beat this price!! Property eligible under Freddie Mac First Look Initiative through 12/3/11. Sold As-Is. Seller/Agent makes no representations/warranties expressed/implied as to condition of property. Seller may contribute up to 3% toward buyer closing costs & provide a 2-Year HomeProtect Limited Home Warranty on offers presented from 11/15/11 to 1/31/12 & close by 3/15/12. HomeSteps homebuyer incentive is available to owner-occupant purchasers only. Terms & Conditions apply.

15. 2012-03-26
    soldstatus $12,000 626-char remark

    Show marketing remark (626 chars)

    PRICE REDUCED!! Live Downtown!!! This 1/1, 456 SF Condo is in the center of bustling downtown. Explore the possibilities...You can't beat this price!! Property eligible under Freddie Mac First Look Initiative through 12/3/11. Sold As-Is. Seller/Agent makes no representations/warranties expressed/implied as to condition of property. Seller may contribute up to 3% toward buyer closing costs & provide a 2-Year HomeProtect Limited Home Warranty on offers presented from 11/15/11 to 1/31/12 & close by 3/15/12. HomeSteps homebuyer incentive is available to owner-occupant purchasers only. Terms & Conditions apply.

16. 2011-11-21
    listed $15,900 626-char remark

    Show marketing remark (626 chars)

    PRICE REDUCED!! Live Downtown!!! This 1/1, 456 SF Condo is in the center of bustling downtown. Explore the possibilities...You can't beat this price!! Property eligible under Freddie Mac First Look Initiative through 12/3/11. Sold As-Is. Seller/Agent makes no representations/warranties expressed/implied as to condition of property. Seller may contribute up to 3% toward buyer closing costs & provide a 2-Year HomeProtect Limited Home Warranty on offers presented from 11/15/11 to 1/31/12 & close by 3/15/12. HomeSteps homebuyer incentive is available to owner-occupant purchasers only. Terms & Conditions apply.

17. 2008-03-20
    historical
18. 2007-09-20
    soldstatus $82,900
19. 2007-04-02
    listed $77,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,296 · $108/mo
• Projected year-2 tax: $1,296 · $108/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,611
• − Mortgage interest: −$5,013
• − Property taxes: −$1,296
• − Insurance: −$448
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − HOA: −$5,424
• − Depreciation: −$2,604
• Taxable loss: −$2,511
• Est. tax savings @ 24.0%: +$603
• After-tax cash flow: $-654/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Duval
• NCES district ID: 1200480
• Math proficiency: 46% ▼ -11.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $48,987
• Composite: 38.97/100
• National rank: #4076
• State rank: #48 of 73 in FL

Livability — Jacksonville

• Score: 83/100
• State rank: #50
• US rank: #911

Category grades

Amenities A+ Commute A+ Cost of living A Crime C Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, FL
• County: Duval County · 1,015,274 people
• City population: 979,034
• Metro: Jacksonville, FL
• Population (ZIP): 6,023
• Household income: $34,825
• Rent vs Own: 91.3% rent · 8.7% own
• Severe rent burden: 461.0

Population outlook (Duval County) Hauer SSP2

• Today (2025): 1,013,010 people
• By 2030: 1,059,228 · +4.6%
• By 2040: 1,141,439 · +12.7%
• By 2050: 1,205,258 · +19.0%
• By 2075: 1,324,282 · +30.7%
• By 2100: 1,319,620 · +30.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 49% White 41% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Duval

• 2024 margin: Toss-up / Even · D 48.7% · R 50.1% · Other 1.2%
• 2008→2024 swing: +0.4pp no change · 2008: -1.9pp · 2024: -1.5pp
• All cycles: 2024: R+1.5 2020: D+3.8 2016: R+1.5 2012: R+3.6 2008: R+1.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.95%
• Current HPI: 55.4429
• Rent YoY: ▼ -3.04%
• Metro: Jacksonville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+14.9% since first listed

19 events — show timeline

• 2026-05-10 Pending — realMLS
• 2026-04-23 Price Changed $89,500 realMLS
• 2026-04-01 Price Changed $91,450 realMLS
• 2026-03-09 Listed $95,000 realMLS
• 2024-11-23 Rental Removed $1,050 BUILDIUM
• 2024-11-19 Rental Removed $1,050 NEFLMLS
• 2024-11-07 Listed for Rent $1,050 NEFLMLS
• 2024-10-24 Listed for Rent $1,100 BUILDIUM
• 2024-10-24 Rental Removed $1,100 NEFLMLS
• 2024-10-24 Listed for Rent $1,100 NEFLMLS
• 2014-08-13 Sold (Public Records) $38,000 Public Records
• 2014-07-31 Sold (MLS) $38,000 realMLS
• 2014-05-23 Listed $40,000 realMLS
• 2012-04-09 Listing Removed — realMLS
• 2012-03-26 Sold (MLS) $12,000 realMLS
• 2011-11-21 Listed $15,900 realMLS
• 2008-03-20 Listing Removed — realMLS
• 2007-09-20 Sold (MLS) $82,900 realMLS
• 2007-04-02 Listed $77,900 realMLS

Property tax history

+9.0%/yr

Latest (2025): $1,296 · -1.1% YoY. Source: county tax records.