4320 Notter Ave · Jacksonville, FL 32206

$178,000

4 bd · 4.0 ba · 2,524 sqft · MultiFamily public records · 147 Days on market

Built 1924 4,791 sqft lot Est $290k · 39% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 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

THIS IS A FOUR-PLEX, FOUR APARTMENTS, GREAT OPPORTUNITY FOR INVESTORS.THIS IS NOT A SHORT SALE.

Key facts

• 4,791 sq ft lot
• Built 1924
• Listed 146 days

Property features AI

Finance

• Financial info: Tax information available

Exterior

• Parking: Additional parking available
• Utilities: Electricity available and connected; Water available and connected; Sewer available and connected
• Home design: Quadruplex; Attached property; 2-story building
• Exterior features: Few trees on the lot

Interior

• Bedrooms: 4 bedrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Unfurnished; Property used for investment and residential purposes

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $178k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $178k).
• Recommended offer: $157k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $3,879/mo this rent would consume 119% 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 $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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.
• Current owner paid $12k; list at $178k implies a 1383% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $156,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 2.18% ✓
• Cap rate: 19.47%
• Cash-on-cash: 47.05%
• DSCR: 3.09
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $290,260
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
532 W 24th St	0.45mi	4/2.0	2,358 (-7%)	21mo	$270,000	$115	43

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: 42.1%
• Equity multiple: 2.76×
• Total profit: $87,712
• Equity at exit: $26,540

10-year hold

• IRR: 47.3%
• Equity multiple: 5.12×
• Total profit: $205,547
• Equity at exit: $15,390

Cash invested: $49,840 (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: 15.3×

Monthly cashflow live

• Estimated rent: $3,879 high
• Mortgage (P&I): −$933
• Tax from tax record: −$103 /mo · $1,234/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $1,954

Break-even live

Break-even rent $1,406

Max offer price $178,000

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$3,880
Total (4 units)			$3,879

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 Golfair Blvd Jacksonville, FL	4.0	2.5	1761	$1,381	$0.78	16d	1	0.21mi
30 W 12th St Jacksonville, FL	4.0	3.0	1792	$2,580	$1.44	1d	1	1.04mi
1931 Silver St Jacksonville, FL	3.0	2.0	2132	$2,600	$1.22	23d	1	1.19mi
1827 N Market St Jacksonville, FL	5.0	3.5	2750	$3,100	$1.13	17d	1	1.42mi

Listing history 23 events

1. 2026-06-18
   days on market $178,000 Active 147 DOM
2. 2026-06-17
   days on market $178,000 Active 146 DOM
3. 2026-06-16
   days on market $178,000 Active 145 DOM
4. 2026-06-15
   remarks 485-char remark
5. 2026-06-15
   statusdays on market $178,000 Active 144 DOM
6. 2026-06-10
   days on market $178,000 Active Under Contract 138 DOM
7. 2026-06-08
   days on market $178,000 Active Under Contract 137 DOM
8. 2026-06-07
   days on market $178,000 Active Under Contract 136 DOM
9. 2026-06-03
   days on market $178,000 Active Under Contract 132 DOM
10. 2026-06-02
    days on market $178,000 Active Under Contract 131 DOM
11. 2026-06-01
    days on market $178,000 Active Under Contract 130 DOM
12. 2026-05-31
    days on market $178,000 Active Under Contract 129 DOM
13. 2026-03-26
    historical Active Under Contract
14. 2026-01-19
    listed $178,000 Active
15. 2015-06-15
    historical 95-char remark

    Show marketing remark (95 chars)

    THIS IS A FOUR-PLEX, FOUR APARTMENTS, GREAT OPPORTUNITY FOR INVESTORS.THIS IS NOT A SHORT SALE.

16. 2014-06-15
    listed $40,000 Active 95-char remark

    Show marketing remark (95 chars)

    THIS IS A FOUR-PLEX, FOUR APARTMENTS, GREAT OPPORTUNITY FOR INVESTORS.THIS IS NOT A SHORT SALE.

17. 2009-08-27
    historical 213-char remark

    Show marketing remark (213 chars)

    CAN BE A LARGE SFR OR A DUPLEX. GREAT OPPORTUNITY FOR INVESTOR. NEEDS REPAIRS. SELLER ACQUIRED PROPERTY THROUGH FORECLOSURE. SELLER AND AGENT MAKE NO REPRESENTATION OR WARRANTIES ON PROPERTY. BEING SOLD ''AS IS''.

18. 2009-08-21
    soldstatus $12,000 213-char remark

    Show marketing remark (213 chars)

    CAN BE A LARGE SFR OR A DUPLEX. GREAT OPPORTUNITY FOR INVESTOR. NEEDS REPAIRS. SELLER ACQUIRED PROPERTY THROUGH FORECLOSURE. SELLER AND AGENT MAKE NO REPRESENTATION OR WARRANTIES ON PROPERTY. BEING SOLD ''AS IS''.

19. 2009-07-24
    listed $13,910 213-char remark

    Show marketing remark (213 chars)

    CAN BE A LARGE SFR OR A DUPLEX. GREAT OPPORTUNITY FOR INVESTOR. NEEDS REPAIRS. SELLER ACQUIRED PROPERTY THROUGH FORECLOSURE. SELLER AND AGENT MAKE NO REPRESENTATION OR WARRANTIES ON PROPERTY. BEING SOLD ''AS IS''.

20. 2009-07-13
    historical
21. 2009-04-28
    listed $15,500
22. 1977-01-25
    soldstatus $20,000
23. 1975-05-29
    soldstatus $25,100

ⓘ 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: $1,234 · $103/mo
• Projected year-2 tax: $1,477 · $123/mo
• Expected delta: +$244/yr (+$20/mo · 19.7%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,548
• − Mortgage interest: −$9,971
• − Property taxes: −$1,234
• − Insurance: −$890
• − Repairs & maintenance: −$3,724
• − Management: −$3,724
• − Depreciation: −$5,178
• Taxable income: $21,828
• Est. tax owed @ 24.0%: −$5,239
• After-tax cash flow: $18,209/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

+609.2% since first listed

11 events — show timeline

• 2026-03-26 Contingent — realMLS
• 2026-01-19 Listed $178,000 realMLS
• 2015-06-15 Listing Removed — realMLS
• 2014-06-15 Listed $40,000 realMLS
• 2009-08-27 Listing Removed — realMLS
• 2009-08-21 Sold (MLS) $12,000 realMLS
• 2009-07-24 Listed $13,910 realMLS
• 2009-07-13 Listing Removed — realMLS
• 2009-04-28 Listed $15,500 realMLS
• 1977-01-25 Sold (Public Records) $20,000 Public Records
• 1975-05-29 Sold (Public Records) $25,100 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,234 · +40.0% YoY. Source: county tax records.