5515 118th St #346 · Jacksonville, FL 32244

$32,200

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 36 Days on market

Built 2026 Fair condition

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, a playground, a swimming pool, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Clubhouse
• Swimming pool
• Playground

Tags

• CLUBHOUSE
• PLAYGROUND
• SWIMMING POOL

Property features AI

Finance

• Financial info: List price $31,700

Exterior

• Utilities: Electric service; Central air conditioning
• Home design: Spec-built plan 93111; Condominium unit at 5515 118th St #346, Jacksonville, FL 32244

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Living area of 1,056 (listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $32k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.2% vs local median 4.0% in Jacksonville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Market conditions: Rents rising (+2.2%/yr); 349 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• This rent runs 30% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $223 of loan paydown is wiped out by about $966 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $31,234 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.88% ✓
• Cap rate: 44.24%
• Cash-on-cash: 135.51%
• DSCR: 7.03
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $161,568
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6630 Seaboard Ave	0.63mi	2/2.0 (-1)	1,173 (+11%)	10mo	$180,000	$153	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.25% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.49×
• Total profit: $58,477
• Equity at exit: $4,801

10-year hold

• IRR: —
• Equity multiple: 15.39×
• Total profit: $129,764
• Equity at exit: $2,784

Cash invested: $9,016 (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 32244

• Home prices YoY: -17.8%
• Rents YoY: 2.2%
• Active inventory: 349
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,570 high
• Mortgage (P&I): −$169
• Tax est. 1.5%: −$40 /mo · $483/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $1,018

Break-even live

Break-even rent $282

Max offer price $32,200

Occupancy floor 30%

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: $8,050
• Closing costs: $966
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6221 Alfredo Dr W Jacksonville, FL	3.0	2.0	1133	$1,710	$1.51	3d	1	0.48mi
5558 Bennington Dr Jacksonville, FL	2.0	2.0	988	$1,275	$1.29	4d	1	0.64mi
5939 Pueblo Ct Jacksonville, FL	4.0	2.0	1288	$1,495	$1.16	7d	1	0.67mi
5626 Bryner Dr Jacksonville, FL	2.0	3.0	1404	$1,320	$0.94	21d	1	0.68mi
5642 Bryner Dr Jacksonville, FL	2.0	1.5	1406	$1,290	$0.92	21d	1	0.70mi
5640 Bryner Dr Jacksonville, FL	2.0	2.0	1000	$1,260	$1.26	23d	1	0.70mi
5685 Marathon Pkwy Jacksonville, FL	2.0	2.0	1015	$1,000	$0.99	19d	1	0.70mi
5700 Fishing Pen Creek Ct Jacksonville, FL	2.0	1.0	854	$1,100	$1.29	2d	8	0.84mi
5664 Minocqua St Jacksonville, FL	4.0	1.5	1023	$1,545	$1.51	3d	1	1.01mi
5327 Timuquana Rd Jacksonville, FL	1.0–3.0	1.0–2.0	950	$1,599	$1.68	1d	27	1.01mi
5983 Ortega Lake Dr Unit 1 Jacksonville, FL	3.0	2.5	1400	$1,950	$1.39	23d	1	1.04mi
6051 Maggies Cir #107 Jacksonville, FL	3.0	2.0	1335	$1,400	$1.05	21d	1	1.06mi
6063 Maggies Cir #110 Jacksonville, FL	3.0	2.0	1335	$1,350	$1.01	4d	1	1.08mi
6063 Maggies Cir Jacksonville, FL	2.0–3.0	2.0	1121	$1,350	$1.20	16d	2	1.08mi
5375 Ortega Farms Blvd #715 Jacksonville, FL	2.0	2.0	1016	$1,700	$1.67	23d	1	1.10mi
6111 Maggies Cir #107 Jacksonville, FL	3.0	2.0	1335	$1,350	$1.01	23d	1	1.10mi
6112 Maggies Cir #108 Jacksonville, FL	3.0	2.0	1335	$1,375	$1.03	23d	1	1.11mi
6136 Blanding Blvd Jacksonville, FL	1.0–3.0	1.0–2.0	1030	$2,020	$1.96	1d	9	1.14mi
6105 Maggies Cir Jacksonville, FL	2.0–3.0	2.0	1121	$1,445	$1.29	17d	2	1.15mi
6105 Maggies Cir #115 Jacksonville, FL	3.0	2.0	1335	$1,425	$1.07	1d	1	1.15mi
6985 Ortega Woods Dr Unit 8 Jacksonville, FL	3.0	2.0	1157	$1,350	$1.17	2d	1	1.17mi
6100 Maggies Cir #103 Jacksonville, FL	2.0	2.0	907	$1,300	$1.43	12d	1	1.17mi
6094 Maggies Cir #107 Jacksonville, FL	3.0	2.0	1335	$1,425	$1.07	14d	1	1.18mi
6099 Maggies Cir #101 Jacksonville, FL	3.0	2.0	1335	$1,650	$1.24	17d	1	1.20mi
5058 Acre Estates Dr W Jacksonville, FL	3.0	2.0	1402	$1,825	$1.30	2d	1	1.20mi
6880 Skaff Ave Jacksonville, FL	2.0	2.0	940	$1,285	$1.37	23d	1	1.21mi
6915 Ortega Woods Dr Unit 11 Jacksonville, FL	2.0	2.0	940	$1,150	$1.22	20d	1	1.22mi
6087 Maggies Cir #104 Jacksonville, FL	2.0	2.0	1099	$1,275	$1.16	23d	1	1.23mi
5988 Creekside Crossing Dr Jacksonville, FL	3.0	2.5	1404	$1,850	$1.32	14d	1	1.28mi
5984 Creekside Crossing Dr Jacksonville, FL	3.0	2.5	1404	$1,695	$1.21	14d	1	1.28mi
5958 Creekside Crossing Dr Jacksonville, FL	3.0	2.5	1404	$1,895	$1.35	10d	1	1.29mi
5900 Townsend Rd Jacksonville, FL	1.0–3.0	1.0–2.0	1177	$1,699	$1.44	2d	12	1.36mi
4800 Ortega Farms Blvd Jacksonville, FL	1.0–3.0	1.0	880	$1,465	$1.66	10d	9	1.36mi
4800 Ortega Farms Blvd Jacksonville, FL	1.0–3.0	1.0	880	$1,435	$1.63	2d	10	1.36mi
5984 Windsor Forest Dr Jacksonville, FL	2.0	1.5	900	$1,174	$1.30	21d	2	1.48mi
5747 Antoinette Ln Jacksonville, FL	2.0	1.0	1200	$1,195	$1.00	23d	1	1.49mi
5745 Antoinette Ln Jacksonville, FL	2.0	1.0	1200	$1,150	$0.96	2d	1	1.49mi

Listing history 10 events

1. 2026-06-18
   days on market $32,200 Active 36 DOM
2. 2026-06-17
   days on market $32,200 Active 35 DOM
3. 2026-06-16
   days on market $32,200 Active 34 DOM
4. 2026-06-15
   days on market $32,200 Active 33 DOM
5. 2026-06-10
   days on market $32,200 Active 27 DOM
6. 2026-06-08
   days on market $32,200 Active 26 DOM
7. 2026-06-03
   days on market $32,200 Active 21 DOM
8. 2026-06-02
   days on market $32,200 Active 20 DOM
9. 2026-06-01
   pricedays on market $32,200 Active 19 DOM
10. 2026-05-31
    days on market $31,700 Active 18 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,846
• − Mortgage interest: −$1,804
• − Property taxes: −$483
• − Insurance: −$161
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$937
• Taxable income: $12,446
• Est. tax owed @ 24.0%: −$2,987
• After-tax cash flow: $9,231/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.

Condition & rehab AI · 1 photo

Fair 45/100 Cosmetic rehab

This 3-bedroom, 2-bathroom manufactured home is in fair condition with minor repairs needed. Painting the exterior and improving landscaping would significantly enhance its curb appeal and value.

Repairs flagged

• Minor Paint — Siding appears weathered
• Minor Landscaping — Low-maintenance landscaping

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Siding appears weathered	Minor	$500–3,000
Landscaping · Low-maintenance landscaping	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 63,592
• Household income: $62,204
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 2799.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 39% Black 35% Hispanic / Latino 15% Two or more races 10% Asian 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 3%
• Common ancestry: Hispanic 1% Lithuanian 1% Romanian 1%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 83% English-only · Spanish 9% Tagalog/Filipino 3% French/Haitian/Cajun 2%

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: ▼ -64.22%
• Current HPI: 296.5375
• Rent YoY: ▲ 2.25%
• 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