2550 Summit St · Jacksonville, FL 32204

$137,500

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 64 Days on market

Built 1939 Est $96k · 44% over

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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 +15.1/30.0
• DSCR +4.6/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This house is in need of a full rehab to be bring it to rental potential. Diamond in the rough though, has huge opportunity for cash flow and great ROI! Check it out. Sold As-Is.

Key facts

• Newer windows
• Prime city location
• New roof

Tags

• NEW ROOF
• NEWER WINDOWS
• UPDATED PLUMBING
• PRIME CITY LOCATION

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Other parking
• Utilities: Sewer connected; Water connected
• Home design: Single-family residence; One level; Residential use

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: In-unit laundry; Electric oven; Electric range; Microwave; Refrigerator
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $45 ($542/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 $121k (12.0% below list).
• Recommended offer: $121k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Zoned schools: Grasp Academy (math 18% / reading 14%, grade F, #2,130 of 2,144 statewide, top 99%, 271 students, 52% 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).
• Zoned-school proficiency averages 26% at this address vs 46% district-wide (-19 pts) — the specific schools serving this property underperform the Duval average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.7%/yr); 78 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k 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 64 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $80k; list at $138k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $121,067 (12.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1939 — 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. 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?
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 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: 0.88% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $95,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2565 Orion St	0.15mi	2/1.0	948 (+15%)	10mo	$160,000	$169	60
2965 Dignan St	0.70mi	2/2.0	820 (-1%)	5mo	$60,000	$73	58
2002 Baldwin St	0.63mi	2/1.0	780 (-6%)	6mo	$87,500	$112	57
2070 Woodside St	0.66mi	3/1.0 (+1)	800 (-3%)	4mo	$116,500	$146	56
238 Shortreed St	0.57mi	2/1.0	900 (+9%)	4mo	$62,000	$69	55
2034 Commonwealth Ave	0.74mi	2/2.0	818 (-1%)	8mo	$199,017	$243	53
2108 Yulee St	0.71mi	3/1.0 (+1)	873 (+6%)	0mo	$117,000	$134	52
2845 Edison Ave	0.49mi	2/1.0	740 (-10%)	9mo	$63,000	$85	52
760 Westbrook Rd	0.75mi	2/1.0	898 (+9%)	2mo	$101,150	$113	48
2081 Baldwin St	0.65mi	3/1.0 (+1)	915 (+11%)	2mo	$47,000	$51	45
2926 Hunt St	0.64mi	3/1.0 (+1)	900 (+9%)	10mo	$145,000	$161	42
2124 Yulee St	0.71mi	2/1.0	708 (-14%)	9mo	$82,310	$116	36

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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.55×
• Total profit: $-17,318
• Equity at exit: $20,502

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-2,509
• Equity at exit: $11,888

Cash invested: $38,500 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,211 high
• Mortgage (P&I): −$721
• Tax from tax record: −$133 /mo · $1,595/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $45

Break-even live

Break-even rent $1,154

Max offer price $137,500

Occupancy floor 91%

Sensitivity live

Price	-10% $123	-5% $84	+0% $45	+5% $6	+10% $-33
Rent	-10% $-50	-5% $-3	+0% $45	+5% $93	+10% $141
Rate	-1.0pp $114	-0.5pp $80	base $45	+0.5pp $10	+1.0pp $-27

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2551 Calvin St Jacksonville, FL	2.0	1.0	658	$600	$0.91	19d	1	0.01mi
2549 Calvin St Jacksonville, FL	2.0	1.0	658	$600	$0.91	19d	1	0.01mi
371 Smith St Jacksonville, FL	3.0	2.0	1050	$1,325	$1.26	6d	1	0.17mi
420 Sunshine St Jacksonville, FL	3.0	2.0	1050	$1,350	$1.29	3d	1	0.44mi
2614 Dellwood Ave Jacksonville, FL	3.0	1.0	1122	$2,325	$2.07	6d	1	0.66mi
2128 Woodside St Jacksonville, FL	2.0	1.0	776	$895	$1.15	25d	1	0.69mi
2759 Dellwood Ave Jacksonville, FL	3.0	2.0	1080	$2,100	$1.94	21d	1	0.70mi
2701 Myra St Jacksonville, FL	3.0	1.0	1065	$1,595	$1.50	23d	1	0.71mi
2613 Green St Jacksonville, FL	2.0	1.0	665	$1,150	$1.73	22d	1	0.74mi
2611 Green St Jacksonville, FL	2.0	1.0	728	$1,195	$1.64	16d	1	0.74mi
2611 Green St Jacksonville, FL	2.0	1.0	728	$1,195	$1.64	25d	1	0.74mi
2525 College St #1214 Jacksonville, FL	1.0	1.0	1019	$1,900	$1.86	25d	1	0.75mi
2577 Haldumar Ter Jacksonville, FL	2.0	1.0	865	$1,050	$1.21	3d	1	0.76mi
2575 Haldumar Ter Jacksonville, FL	1.0	1.0	775	$965	$1.25	3d	1	0.76mi
828 Acosta St Unit 1 Jacksonville, FL	1.0	1.0	806	$1,150	$1.43	25d	1	0.77mi
1979 Yulee St Jacksonville, FL	3.0	2.0	1050	$1,500	$1.43	25d	1	0.77mi
2002 Ernest St Unit A Jacksonville, FL	2.0	1.0	1000	$1,795	$1.79	15d	1	0.77mi
2578 Haldumar Ter Jacksonville, FL	2.0	1.0	1114	$2,195	$1.97	16d	1	0.77mi
2050 Dellwood Ave #3 Jacksonville, FL	1.0	1.0	785	$970	$1.24	25d	1	0.79mi
2619 College St Unit 2 Jacksonville, FL	1.0	1.0	700	$1,050	$1.50	25d	1	0.80mi
2659 College St Jacksonville, FL	1.0	1.0	639	$995	$1.56	25d	1	0.80mi
2022 Dellwood Ave Unit 2 Jacksonville, FL	2.0	1.0	800	$1,098	$1.37	16d	1	0.81mi
2653 College St Unit 2653 Jacksonville, FL	1.0	1.0	907	$1,295	$1.43	4d	1	0.81mi
2328 College St Jacksonville, FL	1.0	1.0	900	$1,350	$1.50	25d	1	0.81mi
3035 Fitzgerald St Jacksonville, FL	2.0	1.0	900	$1,021	$1.13	4d	1	0.82mi
2533 Post St Jacksonville, FL	1.0	1.0	950	$1,425	$1.50	19d	1	0.84mi
907 Copeland St Jacksonville, FL	2.0	1.0	784	$1,395	$1.78	25d	1	0.85mi
2657 Post St Apt 2 Jacksonville, FL	3.0	1.0	1100	$1,700	$1.55	4d	1	0.86mi
2136 College St #4 Jacksonville, FL	2.0	1.0	900	$1,250	$1.39	25d	1	0.86mi
2803 College St Jacksonville, FL	2.0	1.0	1100	$1,550	$1.41	15d	1	0.87mi
2920 Dellwood Ave Unit 4 Jacksonville, FL	1.0	1.0	650	$900	$1.38	12d	1	0.87mi
2920 Dellwood Ave #2 Jacksonville, FL	1.0	1.0	650	$900	$1.38	9d	1	0.87mi
1729 Logan St W Unit 3 Jacksonville, FL	2.0	1.0	694	$850	$1.22	25d	1	0.87mi
1751 Broadway Ave Jacksonville, FL	2.0	1.0	1000	$1,525	$1.52	6d	1	0.87mi
2153 Post St Jacksonville, FL	1.0	1.0	540	$875	$1.62	25d	1	0.89mi
2851 College St Unit 1 Jacksonville, FL	1.0	1.0	655	$1,100	$1.68	25d	1	0.90mi
2980 Ernest St Jacksonville, FL	2.0	1.0	920	$1,200	$1.30	25d	1	0.91mi
2853 College St Unit 1 Jacksonville, FL	1.0	1.0	655	$1,100	$1.68	25d	1	0.91mi
1657 Union St W Unit 1 Jacksonville, FL	2.0	1.0	700	$1,050	$1.50	3d	1	0.94mi
1651 Union St W Jacksonville, FL	2.0	1.0	675	$900	$1.33	25d	1	0.95mi

Listing history 13 events

1. 2026-06-07
   status $137,500 Pending 64 DOM
2. 2026-06-03
   days on market $137,500 Active Under Contract 64 DOM
3. 2026-06-02
   days on market $137,500 Active Under Contract 63 DOM
4. 2026-06-01
   days on market $137,500 Active Under Contract 62 DOM
5. 2026-05-31
   days on market $137,500 Active Under Contract 61 DOM
6. 2026-05-13
   historical Active Under Contract
7. 2026-04-10
   price $137,500
8. 2026-03-30
   listed $139,900 Active
9. 2026-03-18
   soldstatus $80,000
10. 2016-06-27
    historical 178-char remark

    Show marketing remark (178 chars)

    This house is in need of a full rehab to be bring it to rental potential. Diamond in the rough though, has huge opportunity for cash flow and great ROI! Check it out. Sold As-Is.

11. 2016-05-19
    listed $25,500 Active 178-char remark

    Show marketing remark (178 chars)

    This house is in need of a full rehab to be bring it to rental potential. Diamond in the rough though, has huge opportunity for cash flow and great ROI! Check it out. Sold As-Is.

12. 2005-11-17
    soldstatus $43,000
13. 1996-04-29
    soldstatus $87,600

ⓘ 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: $1,595 · $133/mo
• Projected year-2 tax: $1,595 · $133/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 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: $14,528
• − Mortgage interest: −$7,702
• − Property taxes: −$1,595
• − Insurance: −$688
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$4,000
• Taxable loss: −$1,781
• Est. tax savings @ 24.0%: +$427
• After-tax cash flow: $969/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): 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

+57.0% since first listed

8 events — show timeline

• 2026-05-13 Contingent — realMLS
• 2026-04-10 Price Changed $137,500 realMLS
• 2026-03-30 Listed $139,900 realMLS
• 2026-03-18 Sold (Public Records) $80,000 Public Records
• 2016-06-27 Listing Removed — realMLS
• 2016-05-19 Listed $25,500 realMLS
• 2005-11-17 Sold (Public Records) $43,000 Public Records
• 1996-04-29 Sold (Public Records) $87,600 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,595 · +46.9% YoY. Source: county tax records.