2929 Spencer St · Jacksonville, FL 32254

$140,000

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 141 Days on market

Built 1916 4,791 sqft lot Est $138k · at est.

---

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 +19.9/30.0
• ARV discount +7.0/15.0
• Appreciation +6.7/10.0
• DSCR +6.3/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

GREAT HOME FOR THE INVESTOR TO PICK UP NEEDS SOME TLC. SELLER IS MOTIVATED WILL LOOK AT ALL OFFERS!! SELLER WILL ALSO CONSIDER OWNER FINANCING!!

Key facts

• 4,791 sq ft lot
• Parking
• Built 1916

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Detached carport (1 space); Off-street parking; On-street parking
• Utilities: Public sewer; Electricity connected; Water connected; Sewer connected
• Home design: Single family residence; One story; Entry level is 1
• Construction: Frame construction with wood siding; Shingle roof
• Exterior features: Front porch; Chain link fencing; City street frontage; Asphalt road surface

Interior

• Kitchen: No built-in appliances included
• Bedrooms: 3 bedrooms (all on entry level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Primary bathroom with tub and shower
• Laundry & utility: Washer hookup in unit; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/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 $135k (3.3% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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.
• Market conditions: Rents rising (+1.7%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1,353/mo this rent would consume 46% of the median local household income ($35k/yr) (locally 882% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $6k of equity ($968 loan paydown + $5k appreciation (3.4% local appreciation)).
• Duval County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 1.7% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask is 33% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1916 — 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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 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?
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: 0.97% ✗
• Cap rate: 7.74%
• Cash-on-cash: 5.17%
• DSCR: 1.23
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $138,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2881 Lenox Ave	0.18mi	3/1.0	1,068 (+10%)	2mo	$90,000	$84	74
2908 Spencer St	0.05mi	3/2.0	1,100 (+13%)	0mo	$158,000	$144	72
357 Smith St	0.44mi	3/2.0	1,000 (+3%)	3mo	$142,000	$142	69
3119 Rosselle St	0.48mi	3/1.0	1,018 (+4%)	3mo	$167,500	$165	68
3053 Gilmore St	0.49mi	2/1.0 (-1)	1,008 (+3%)	0mo	$130,000	$129	66
3034 Rayford St	0.36mi	2/1.0 (-1)	912 (-6%)	2mo	$160,000	$175	65
646 Day Ave	0.53mi	3/1.0	922 (-5%)	3mo	$180,000	$195	64
3205 Dignan St	0.43mi	3/2.0	1,080 (+11%)	2mo	$140,000	$130	56
2667 Amy St	0.71mi	3/1.0	1,038 (+6%)	0mo	$117,000	$113	56
3557 Dillon St	0.74mi	3/1.5	1,035 (+6%)	1mo	$180,000	$174	52
760 Westbrook Rd	0.62mi	2/1.0 (-1)	898 (-8%)	2mo	$101,150	$113	51
2550 Summit St	0.62mi	2/2.0 (-1)	1,083 (+11%)	0mo	$130,000	$120	43

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

Projected returns pro-forma

3.41% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.74×
• Total profit: $28,925
• Equity at exit: $66,229

10-year hold

• IRR: 13.8%
• Equity multiple: 3.09×
• Total profit: $81,864
• Equity at exit: $104,693

Cash invested: $39,200 (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 32254

• Home prices YoY: 1.2%
• Rents YoY: 1.7%
• Active inventory: 173
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$734
• Tax from tax record: −$108 /mo · $1,293/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $169

Break-even live

Break-even rent $1,140

Max offer price $140,000

Occupancy floor 83%

Sensitivity live

Price	-10% $248	-5% $208	+0% $169	+5% $129	+10% $89
Rent	-10% $62	-5% $115	+0% $169	+5% $222	+10% $276
Rate	-1.0pp $239	-0.5pp $204	base $169	+0.5pp $132	+1.0pp $96

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Sunshine St Jacksonville, FL	3.0	2.0	1050	$1,350	$1.29	2d	1	0.21mi
3035 Fitzgerald St Jacksonville, FL	2.0	1.0	900	$1,021	$1.13	4d	1	0.23mi
3118 Dignan St Jacksonville, FL	4.0	2.0	1103	$1,148	$1.04	2d	1	0.31mi
371 Smith St Jacksonville, FL	3.0	2.0	1050	$1,325	$1.26	5d	1	0.44mi
2980 Ernest St Jacksonville, FL	2.0	1.0	920	$1,200	$1.30	24d	1	0.53mi
3318 Dignan St Jacksonville, FL	3.0	2.0	960	$1,200	$1.25	24d	1	0.57mi
3319 Hunt St Jacksonville, FL	3.0	1.0	924	$1,295	$1.40	24d	1	0.57mi
3323 Nolan St Jacksonville, FL	3.0	1.0	927	$1,050	$1.13	2d	1	0.58mi
809 McDuff Ave S Jacksonville, FL	2.0	1.0	1006	$995	$0.99	5d	1	0.59mi
3236 Phyllis St Unit 3244 Jacksonville, FL	2.0	1.0	720	$850	$1.18	24d	1	0.60mi
2551 Calvin St Jacksonville, FL	2.0	1.0	658	$600	$0.91	18d	1	0.61mi
2549 Calvin St Jacksonville, FL	2.0	1.0	658	$600	$0.91	18d	1	0.61mi
3250 Phyllis St Jacksonville, FL	2.0	1.0	720	$850	$1.18	24d	1	0.62mi
2759 Dellwood Ave Jacksonville, FL	3.0	2.0	1080	$2,100	$1.94	20d	1	0.64mi
3356 Lenox Ave Jacksonville, FL	2.0	1.0	899	$999	$1.11	24d	1	0.67mi
3515 Dignan St Jacksonville, FL	3.0	1.0	915	$1,036	$1.13	4d	1	0.68mi
2587 Orchard St Jacksonville, FL	2.0	2.0	992	$1,295	$1.31	8d	1	0.70mi
3036 Green St Jacksonville, FL	3.0	1.0	924	$1,495	$1.62	24d	1	0.70mi
3233 Dellwood Ave Jacksonville, FL	2.0	2.0	1000	$1,750	$1.75	24d	1	0.71mi
2701 Myra St Jacksonville, FL	3.0	1.0	1065	$1,595	$1.50	22d	1	0.75mi
3312 Ernest St Jacksonville, FL	3.0	1.0	1065	$1,148	$1.08	24d	1	0.76mi
2803 College St Jacksonville, FL	2.0	1.0	1100	$1,550	$1.41	15d	1	0.78mi
2128 Woodside St Jacksonville, FL	2.0	1.0	776	$895	$1.15	24d	1	0.81mi
841 Ontario St Jacksonville, FL	2.0	1.0	1000	$1,285	$1.28	24d	1	0.81mi
3353 Dellwood Ave Jacksonville, FL	3.0	1.0	934	$1,595	$1.71	18d	1	0.83mi
2614 Dellwood Ave Jacksonville, FL	3.0	1.0	1122	$2,325	$2.07	5d	1	0.84mi
3313 Green St Jacksonville, FL	3.0	1.0	1058	$1,450	$1.37	8d	1	0.85mi
676 Bridal Ave Jacksonville, FL	3.0	2.0	1008	$1,450	$1.44	24d	1	0.87mi
2613 Green St Jacksonville, FL	2.0	1.0	665	$1,150	$1.73	21d	1	0.88mi
2611 Green St Jacksonville, FL	2.0	1.0	728	$1,195	$1.64	24d	1	0.88mi
2611 Green St Jacksonville, FL	2.0	1.0	728	$1,195	$1.64	15d	1	0.88mi
2325 Westbrook Cir N Jacksonville, FL	3.0	2.0	812	$1,200	$1.48	24d	1	0.91mi
3233 Post St Jacksonville, FL	2.0	1.0	750	$1,095	$1.46	24d	1	0.92mi
2657 Post St Apt 2 Jacksonville, FL	3.0	1.0	1100	$1,700	$1.55	4d	1	0.96mi
3609 Dellwood Ave Jacksonville, FL	2.0	2.0	936	$1,495	$1.60	24d	1	0.96mi
2577 Haldumar Ter Jacksonville, FL	2.0	1.0	865	$1,050	$1.21	2d	1	0.96mi
2578 Haldumar Ter Jacksonville, FL	2.0	1.0	1114	$2,195	$1.97	15d	1	0.96mi
2154 Placeda St Jacksonville, FL	4.0	1.5	1124	$1,500	$1.33	22d	1	0.97mi
912 Huron St Jacksonville, FL	2.0	1.0	900	$1,100	$1.22	15d	1	0.97mi
1979 Yulee St Jacksonville, FL	3.0	2.0	1050	$1,500	$1.43	24d	1	1.01mi

Listing history 11 events

1. 2026-06-21
   days on market $140,000 Active 141 DOM
2. 2026-06-18
   days on market $140,000 Active 138 DOM
3. 2026-06-17
   days on market $140,000 Active 137 DOM
4. 2026-06-16
   days on market $140,000 Active 136 DOM
5. 2026-06-15
   days on market $140,000 Active 135 DOM
6. 2026-06-10
   days on market $140,000 Active 129 DOM
7. 2026-06-08
   days on market $140,000 Active 128 DOM
8. 2026-06-07
   days on market $140,000 Active 127 DOM
9. 2026-06-03
   days on market $140,000 Active 123 DOM
10. 2026-06-02
    remarks 699-char remark
11. 2026-06-02
    listed $140,000 Active 122 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: $1,293 · $108/mo
• Projected year-2 tax: $1,293 · $108/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 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 10/10 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: $16,238
• − Mortgage interest: −$7,842
• − Property taxes: −$1,293
• − Insurance: −$700
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,073
• Taxable loss: −$268
• Est. tax savings @ 24.0%: +$64
• After-tax cash flow: $2,089/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): 13,927
• Household income: $34,953
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 882.0

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 0.56)
• Race & ethnicity: Black 60% White 28% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Slovak 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% 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: ▲ 3.41%
• Current HPI: 282.2981
• Rent YoY: ▲ 1.70%
• 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

+937.0% since first listed

27 events — show timeline

• 2026-06-02 Relisted — realMLS
• 2026-05-06 Listing Removed — realMLS
• 2026-04-21 Relisted — realMLS
• 2026-01-14 Listing Removed — realMLS
• 2026-01-14 Price Changed $140,000 realMLS
• 2026-01-06 Price Changed $79,000 realMLS
• 2025-12-09 Price Changed $80,000 realMLS
• 2025-12-04 Price Changed $82,500 realMLS
• 2025-11-18 Price Changed $84,000 realMLS
• 2025-11-13 Price Changed $85,000 realMLS
• 2025-11-04 Price Changed $90,000 realMLS
• 2025-10-28 Price Changed $95,000 realMLS
• 2025-10-14 Price Changed $99,000 realMLS
• 2025-10-09 Price Changed $100,000 realMLS
• 2025-09-29 Listed $105,000 realMLS
• 2025-08-26 Sold (Public Records) $1,750,000 Public Records
• 2025-08-26 Sold (Public Records) $1,750,000 Public Records
• 2025-04-29 Sold (Public Records) $958,345 Public Records
• 2013-09-11 Sold (Public Records) $10,600 Public Records
• 2006-10-13 Listing Removed — realMLS
• 2006-04-13 Listed $68,500 realMLS
• 2005-05-09 Sold (Public Records) $40,000 Public Records
• 2005-04-18 Listing Removed — realMLS
• 2005-04-13 Sold (MLS) $40,000 realMLS
• 2004-03-02 Listed $55,000 realMLS
• 2000-08-09 Sold (Public Records) $30,000 Public Records
• 1987-03-01 Sold (Public Records) $13,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,293 · +22.5% YoY. Source: county tax records.