1557 S 6th St · Fernandina Beach, FL 32024

$399,900

4 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 148 Days on market

Built 1972 0.46 ac lot Est $410k · at est. ↓ 4% since listing

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Why this score? — see what drove the C- 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 +13.5/30.0
• Appreciation +10.0/10.0
• ARV discount +8.6/15.0
• Schools +6.0/10.0
• DSCR +4.1/10.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

This house sits on an extra-large 100' x 200' lot. Lots of room for expansion. A few minutes from beautiful Atlantic Ocean beach, Historic Downtown Fernandina Beach. Few minutes' drives to Jacksonville International Airport and city shopping; close to schools and places of worship. Enjoy breathtaking view of evening sunsets. Need a little TLC.

Key facts

• 0.46 acre lot
• Parking
• Built 1972

Property features AI

Exterior

• Parking: Driveway
• Utilities: Private well water; Septic tank
• Home design: Single-story; Resale property; Zoned RS-2
• Construction: Frame construction; Metal roof
• Exterior features: Fruit trees; Front porch; Paved road access

Interior

• Kitchen: Stove
• Bedrooms: One bedroom on the lower level with laminate flooring
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central cooling (electric, heat pump)
• Interior features: Aluminum window frames; Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $15 ($178/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $325k (18.7% below list).
• Recommended offer: $325k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 1.0% in Fernandina Beach — 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 72/100 on livability (#369 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: cost of living D, amenities F, commute F.
• Nassau (town): math 74% / reading 65% proficiency, ranked #4 of 73 in FL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 206 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 953 units permitted in Nassau County in 2024 (24 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k appreciation (10.0% local appreciation)).
• Nassau County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $112k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $325,000 (18.7% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
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: 0.81% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $410,112
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1116 S 10th St	0.43mi	3/2.0 (-1)	1,180 (+2%)	11mo	$499,000	$423	62
929 S 9th St	0.55mi	3/2.0 (-1)	1,252 (+9%)	3mo	$452,400	$361	52
728 9th St	0.71mi	4/2.0	1,276 (+11%)	2mo	$220,000	$172	47
728 9th St #A&B	0.71mi	4/2.0	1,276 (+11%)	2mo	$220,000	$172	47
902 S 11th St	0.63mi	3/2.0 (-1)	1,213 (+5%)	12mo	$399,000	$329	47
1028 S 9th St	0.46mi	3/1.0 (-1)	1,024 (-11%)	5mo	$350,000	$342	47
848 S 11th St	0.64mi	3/2.0 (-1)	1,213 (+5%)	12mo	$399,000	$329	46
905 S 12th St	0.67mi	3/2.0 (-1)	1,180 (+2%)	18mo	$420,000	$356	44
1893 Palm Dr	0.68mi	3/2.0 (-1)	1,250 (+8%)	7mo	$515,000	$412	43
1010 S 10th St	0.52mi	3/2.0 (-1)	1,224 (+6%)	23mo	$341,000	$279	41
914 Jasmine St	0.52mi	3/1.0 (-1)	1,025 (-11%)	22mo	$368,000	$359	30
819 S 12th St	0.71mi	3/2.0 (-1)	1,027 (-11%)	18mo	$393,000	$383	29

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.95×
• Total profit: $218,662
• Equity at exit: $360,262

10-year hold

• IRR: 21.6%
• Equity multiple: 6.74×
• Total profit: $643,019
• Equity at exit: $776,918

Cash invested: $111,972 (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 32024

• Home prices YoY: 7.6%
• Active inventory: 206
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,250 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$289 /mo · $3,467/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $15

Break-even live

Break-even rent $3,231

Max offer price $399,900

Occupancy floor 95%

Sensitivity live

Price	-10% $241	-5% $128	+0% $15	+5% $-98	+10% $-212
Rent	-10% $-242	-5% $-114	+0% $15	+5% $143	+10% $272
Rate	-1.0pp $216	-0.5pp $117	base $15	+0.5pp $-89	+1.0pp $-194

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1973 Palm Dr Fernandina Beach, FL	3.0	2.5	1400	$3,250	$2.32	24d	1	0.85mi

Listing history 18 events

1. 2026-06-16
   statusdays on market $399,900 Pending 148 DOM
2. 2026-06-15
   days on market $399,900 Active 147 DOM
3. 2026-06-13
   days on market $399,900 Active 145 DOM
4. 2026-06-13
   days on market $399,900 Active 144 DOM
5. 2026-06-09
   days on market $399,900 Active 141 DOM
6. 2026-06-08
   days on market $399,900 Active 140 DOM
7. 2026-06-07
   days on market $399,900 Active 139 DOM
8. 2026-06-05
   days on market $399,900 Active 136 DOM
9. 2026-06-03
   days on market $399,900 Active 135 DOM
10. 2026-06-02
    days on market $399,900 Active 134 DOM
11. 2026-06-01
    days on market $399,900 Active 133 DOM
12. 2026-05-31
    days on market $399,900 Active 132 DOM
13. 2026-01-20
    price $399,900
14. 2026-01-20
    status Active
15. 2025-12-24
    status Pending
16. 2025-12-23
    listed $415,000 Active
17. 2025-04-16
    status Active
18. 2024-10-16
    listed $415,000 Active

ⓘ 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: $3,467 · $289/mo
• Projected year-2 tax: $3,467 · $289/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 5/10 Major FEMA zone X (unshaded) · 34% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,000
• − Mortgage interest: −$22,401
• − Property taxes: −$3,467
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,120
• − Management: −$3,120
• − Depreciation: −$11,633
• Taxable loss: −$6,740
• Est. tax savings @ 24.0%: +$1,618
• After-tax cash flow: $1,796/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: Nassau
• NCES district ID: 1201350
• Math proficiency: 74% ▼ -2.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $58,267
• Composite: 59.79/100
• National rank: #899
• State rank: #4 of 73 in FL

Livability — Fernandina Beach

• Score: 72/100
• State rank: #369
• US rank: #6484

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 41,029
• Population (ZIP): 20,644

Population outlook (Nassau County) Hauer SSP2

• Today (2025): 88,419 people
• By 2030: 92,679 · +4.8%
• By 2040: 99,257 · +12.3%
• By 2050: 103,378 · +16.9%
• By 2075: 109,726 · +24.1%
• By 2100: 107,006 · +21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 7% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Italian 2% Portuguese 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · Nassau

• 2024 margin: Solid R (+46.9) · D 26.1% · R 73.1%
• 2008→2024 swing: -3.1pp toward R · 2008: -43.8pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+45.9 2016: R+50.2 2012: R+48.6 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.05%
• Current HPI: 269.4659
• Rent YoY: —
• Metro: —
• 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

-3.6% since first listed

6 events — show timeline

• 2026-01-20 Price Changed $399,900 AINCAR
• 2026-01-20 Relisted — AINCAR
• 2025-12-24 Pending — AINCAR
• 2025-12-23 Listed $415,000 AINCAR
• 2025-04-16 Relisted — AINCAR
• 2024-10-16 Listed $415,000 AINCAR

Property tax history

+8.2%/yr

Latest (2025): $3,467 · +11.2% YoY. Source: county tax records.