1639 Ionia St · Jacksonville, FL 32206

$89,900

4 bd · 2.0 ba · 2,300 sqft · MultiFamily public records · 7 Days on market

Built 1913 3,920 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

MULTIPLE OFFERS HAVE BEEN RECEIVED. SELLER IS REQUESTING HIGHEST & BEST OFFERS FROM ALL BUYERS BY 5:00PM ON 6/13. ''Who wants to love me again?'' 2 unit in the historic district of Springfield has been gutted and is ready for you to put it back together. This up-down home has so much potential for the right buyer. Roof was installed in 2006. Much of the original woodwork is still there. The floors could easily be brought back to life with just a refinish. Upstairs and downstairs front porches for all to enjoy. Plumbed for laundry facilities in both units.

Key facts

• Two story duplex
• 3,920 sq ft lot
• Built 1913

Tags

• TWO STORY DUPLEX
• MULTIPLE COVERED FRONT PORCHES
• FIREPLACES ON EACH LEVEL
• PRESERVING HISTORIC CHARACTER

Property features AI

Finance

• Other: Lot size about 0.09 acres

Exterior

• Parking: Other parking
• Utilities: Other utilities
• Home design: Duplex; Multi-family use; One building
• Construction: Frame construction
• Exterior features: Located in a historic area; Asphalt road access

Interior

• Kitchen: No appliances listed
• Bedrooms: 4 bedrooms
• Flooring: Wood floors
• Heating & cooling: No heating listed; No cooling listed
• Interior features: Two fireplaces

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $633/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Cap rate 23.2% 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 flat; 194 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $2,638/mo this rent would consume 81% of the median local household income ($39k/yr) (locally 1057% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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 + 0.9% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y 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

• Watch-outs: property tax is 4.1% of price; built in 1913 — 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 $89,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.93% ✓
• Cap rate: 23.18%
• Cash-on-cash: 60.33%
• DSCR: 3.68
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $506,000
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1215 Hubbard St	0.55mi	4/4.0	2,184 (-5%)	16mo	$550,000	$252	45
226 W 9th St	0.73mi	3/2.0 (-1)	2,148 (-7%)	7mo	$358,000	$167	44
1934 N Laura St	0.64mi	3/3.0 (-1)	2,040 (-11%)	19mo	$449,000	$220	26

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 · 0.94% rent growth · sell at horizon

5-year hold

• IRR: 56.6%
• Equity multiple: 3.42×
• Total profit: $60,833
• Equity at exit: $13,404

10-year hold

• IRR: 60.7%
• Equity multiple: 6.42×
• Total profit: $136,314
• Equity at exit: $7,773

Cash invested: $25,172 (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 32206

• Home prices YoY: -23.7%
• Rents YoY: 0.9%
• Active inventory: 194
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,638 high
• Mortgage (P&I): −$471
• Tax from tax record: −$310 /mo · $3,716/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $1,265

Break-even live

Break-even rent $1,036

Max offer price $89,900

Occupancy floor 47%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,638
Total (2 units)			$2,638

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
440 E 6th St Jacksonville, FL	3.0	2.0	1968	$2,100	$1.07	23d	1	0.08mi
424 E 6th St Jacksonville, FL	4.0	3.0	2746	$2,895	$1.05	23d	1	0.10mi
1445 Ionia St Jacksonville, FL	4.0	2.0	1640	$1,799	$1.10	23d	1	0.16mi
1827 N Market St Jacksonville, FL	5.0	3.5	2750	$3,100	$1.13	17d	1	0.35mi
1052 E 10th St Jacksonville, FL	3.0	2.0	1726	$1,725	$1.00	23d	1	0.41mi
146 W 6th St Jacksonville, FL	3.0	1.0	1600	$1,475	$0.92	20d	1	0.65mi
1514 Silver St Jacksonville, FL	3.0	2.0	1726	$2,275	$1.32	23d	1	0.71mi
1931 Silver St Jacksonville, FL	3.0	2.0	2132	$2,600	$1.22	23d	1	0.72mi
30 W 12th St Jacksonville, FL	4.0	3.0	1792	$2,580	$1.44	2d	1	0.74mi

Listing history 7 events

1. 2026-06-18
   days on market $89,900 Active 7 DOM
2. 2026-06-17
   days on market $89,900 Active 6 DOM
3. 2026-06-16
   days on market $89,900 Active 5 DOM
4. 2026-06-15
   days on market $89,900 Active 4 DOM
5. 2026-06-13
   days on market $89,900 Active 2 DOM
6. 2026-06-13
   remarks 515-char remark
7. 2026-06-13
   listed $89,900 Active 1 DOM

ⓘ 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: $3,716 · $310/mo
• Projected year-2 tax: $3,716 · $310/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,656
• − Mortgage interest: −$5,036
• − Property taxes: −$3,716
• − Insurance: −$450
• − Repairs & maintenance: −$2,532
• − Management: −$2,532
• − Depreciation: −$2,615
• Taxable income: $14,775
• Est. tax owed @ 24.0%: −$3,546
• After-tax cash flow: $11,640/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): 17,105
• Household income: $39,242
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1057.0

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: Predominantly Black (65%)
• Race & ethnicity: Black 65% White 22% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Italian 2% Romanian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 3% Arabic 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: ▼ -64.55%
• Current HPI: 208.1852
• Rent YoY: ▲ 0.94%
• 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

+199.7% since first listed

17 events — show timeline

• 2026-06-11 Listed $89,900 realMLS
• 2023-07-17 Sold (MLS) $173,000 realMLS
• 2023-06-14 Pending — realMLS
• 2023-06-09 Listed $150,000 realMLS
• 2009-09-17 Sold (MLS) $5,907 realMLS
• 2009-05-11 Listed $10,900 realMLS
• 2009-02-13 Listing Removed — realMLS
• 2008-11-15 Listed $29,900 realMLS
• 2008-09-23 Listing Removed — realMLS
• 2008-07-19 Listed $60,000 realMLS
• 2008-03-15 Listing Removed — realMLS
• 2007-09-06 Listed $89,900 realMLS
• 2007-08-13 Listing Removed — realMLS
• 2007-06-11 Listed $129,900 realMLS
• 2005-10-31 Sold (MLS) $87,000 realMLS
• 2005-10-04 Listed $89,000 realMLS
• 1983-11-01 Sold (Public Records) $30,000 Public Records

Property tax history

+8.9%/yr

Latest (2025): $3,716 · +19.3% YoY. Source: county tax records.