2614 College St #1-4 · Jacksonville, FL 32204

$535,000

16 bd · 16.0 ba · 2,892 sqft · MultiFamily · 58 Days on market

Built 1942 Average condition 6,969 sqft lot

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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 +13.1/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +3.9/10.0
• Schools +3.9/10.0
• 1% rule +3.7/10.0
• Rent growth +3.7/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

INCOME PRODUCING 4-plex in the heart of Riverside! This property offers four 1-bedroom/1 bath units. 4 units are currently occupied, with $3,050/mo rental income, . Great opportunity though to buy for rental income and live in Unit #4 if that is what you are looking for! This is an amazing opportunity to capitalize on one of the city's most desirable neighborhoods! Vibrant living scene, abundance amenities & proximity to downtown Jacksonville, the St. Johns River, and major highways makes it a convenient choice, attracting a variety of tenant options. This area consistently experiences strong rental demand, ideal for owners seeking steady rental income. On-going revitalization in the

Key facts

• Strong rental demand
• 4-plex
• Rental income

Tags

• 4-PLEX
• RENTAL INCOME
• VACANT UNIT
• STRONG RENTAL DEMAND

Property features AI

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Quadruplex (residential); 2 stories; Single building
• Construction: Frame construction with wood siding; Shingle roof
• Exterior features: Cleared lot; Asphalt road access

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace (wood or gas not specified)
• Laundry & utility: In-unit laundry with washer hookup and electric dryer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $535k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-16 ($-190/yr) — negative. Per door: $-4/mo.
• To cash-flow at today's rent, offer at most $533k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $466k (12.9% below list).
• Recommended offer: $466k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.9% 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.
• Zoned schools: Central Riverside Elementary School (math 62% / reading 62%, grade B, #608 of 2,144 statewide, top 29%, 353 students, 56% FRL); Joseph Stilwell Middle School (math 31% / reading 33%, grade F, #448 of 571 statewide, top 79%, 612 students, 68% FRL); Riverside High School (math 24% / reading 39%, grade F, #424 of 667 statewide, top 64%, 1,567 students, 60% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 78 active listings in the ZIP; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• At $4,660/mo this rent would consume 86% of the median local household income ($65k/yr) (locally 866% 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 $4k of loan paydown is wiped out by about $16k 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 58 days — a 3% lower offer ($519k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $466,000 (12.9% 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 58 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.47×
• Total profit: $-79,576
• Equity at exit: $79,770

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-36,085
• Equity at exit: $46,257

Cash invested: $149,800 (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 32204

• Home prices YoY: -28.2%
• Rents YoY: 4.7%
• Active inventory: 78
• Price-to-rent: 38.3×

Monthly cashflow live

• Estimated rent: $4,660 high
• Mortgage (P&I): −$2,806
• Tax est. 1.5%: −$669 /mo · $8,025/yr
• Insurance: −$223
• HOA: −$0
• Vacancy / Maint / Mgmt: −$979
• Net cashflow: $-16

Break-even live

Break-even rent $4,680

Max offer price $532,704

Occupancy floor 95%

Sensitivity live

Price	-10% $354	-5% $169	+0% $-16	+5% $-201	+10% $-386
Rent	-10% $-384	-5% $-200	+0% $-16	+5% $168	+10% $352
Rate	-1.0pp $254	-0.5pp $120	base $-16	+0.5pp $-154	+1.0pp $-296

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,660
Total (4 units)			$4,660

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: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $535,000 Active 58 DOM
2. 2026-06-18
   days on market $535,000 Active 55 DOM
3. 2026-06-17
   days on market $535,000 Active 54 DOM
4. 2026-06-16
   days on market $535,000 Active 53 DOM
5. 2026-06-15
   days on market $535,000 Active 52 DOM
6. 2026-06-13
   days on market $535,000 Active 49 DOM
7. 2026-06-10
   days on market $535,000 Active 46 DOM
8. 2026-06-08
   days on market $535,000 Active 45 DOM
9. 2026-06-08
   price $535,000 Active 44 DOM
10. 2026-06-07
    days on market $553,000 Active 44 DOM
11. 2026-06-05
    days on market $553,000 Active 41 DOM
12. 2026-06-03
    days on market $553,000 Active 40 DOM
13. 2026-06-02
    days on market $553,000 Active 39 DOM
14. 2026-06-01
    days on market $553,000 Active 38 DOM
15. 2026-05-31
    days on market $553,000 Active 37 DOM
16. 2026-04-23
    listed $553,000 Active

ⓘ 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 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: $55,920
• − Mortgage interest: −$29,968
• − Property taxes: −$8,025
• − Insurance: −$2,675
• − Repairs & maintenance: −$4,474
• − Management: −$4,474
• − Depreciation: −$15,564
• Taxable loss: −$9,259
• Est. tax savings @ 24.0%: +$2,222
• After-tax cash flow: $2,032/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 · 12 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to improve the exterior and enhance curb appeal, which will increase both resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and peeling
• Major exterior paint — Peeling and faded

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both repair exterior siding — Improves property condition and value
• Both update kitchen appliances — Modernizes and increases appeal
• Both update bathrooms — Modernizes and increases appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and peeling	Major	$15,000–50,000
exterior paint · Peeling and faded	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both repair exterior siding — Improves property condition and value ↑
• Both update kitchen appliances — Modernizes and increases appeal ↑
• Both update bathrooms — Modernizes and increases appeal ↑

ⓘ 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): 9,151
• Household income: $65,063
• Rent vs Own: 71.5% rent · 28.5% own
• Severe rent burden: 866.0

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 0.60)
• Race & ethnicity: White 55% Black 30% Hispanic / Latino 6% Asian 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 7% · China, Canada, Philippines
• Languages at home: 92% English-only · Spanish 3% Chinese 2% Other Asian/Pacific 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: ▼ -123.96%
• Current HPI: 316.3185
• Rent YoY: ▲ 4.69%
• 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

1 event — show timeline

• 2026-04-23 Listed $553,000 realMLS