11535 Dunes Way Dr N · Jacksonville, FL 32225

$175,000

2 bd · 3.0 ba · 1,377 sqft · SingleFamily public records · 279 Days on market

Built 1984 2,178 sqft lot Est $321k · 45% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tenant/Occupant purchase. MLS reporting for comp data.

Key facts

• Upstairs balconies
• Updated roof
• Private retreat

Tags

• UPDATED ROOF
• FENCED BACKYARD
• PRIVATE RETREAT
• REAR PATIO
• UPSTAIRS BALCONIES
• LOW MAINTENANCE EXTERIOR

Property features AI

Exterior

• Parking: Other parking
• Utilities: Public sewer; Water available; Sewer available
• Home design: Townhouse (attached); Currently used as single-family
• Exterior features: Back yard fencing; Wood fence

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Breakfast bar; Fireplace (1)

🏷️ Possibly a rental listed for sale. The $175,000 price doesn't fit this home's estimated sale value (~$320,841) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 soft (-1.4%/yr); 222 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $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.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; list at $175k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.92%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $320,841
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11187 Mikris Dr N	0.31mi	3/2.0 (+1)	1,322 (-4%)	0mo	$319,000	$241	70
2092 Broad Oak Dr	0.17mi	3/2.0 (+1)	1,464 (+6%)	11mo	$305,000	$208	63
11866 Ashbrook Cir N	0.35mi	3/2.0 (+1)	1,463 (+6%)	4mo	$228,000	$156	61
11896 Ashbrook Cir	0.39mi	3/2.0 (+1)	1,323 (-4%)	8mo	$244,000	$184	60
11222 Monument Landing Blvd	0.53mi	3/2.0 (+1)	1,422 (+3%)	5mo	$295,000	$207	56
11890 Arbor Lake Dr	0.58mi	3/2.0 (+1)	1,311 (-5%)	0mo	$305,000	$233	56
11918 Arbor Lake Dr	0.56mi	3/2.0 (+1)	1,302 (-5%)	1mo	$310,000	$238	55
12041 Arbor Lake Dr	0.68mi	3/2.0 (+1)	1,467 (+6%)	2mo	$395,000	$269	46
3402 Cozumel Ct	0.62mi	3/2.0 (+1)	1,255 (-9%)	8mo	$310,000	$247	41
119987 Arbor Lake Dr	0.70mi	3/2.0 (+1)	1,526 (+11%)	1mo	$265,000	$174	39
12011 Cobblestone Forest Cir S	0.68mi	3/2.0 (+1)	1,534 (+11%)	6mo	$322,000	$210	35
3950 Arbor Bluff Ln E	0.69mi	3/2.0 (+1)	1,568 (+14%)	2mo	$368,500	$235	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-15,623
• Equity at exit: $26,093

10-year hold

• IRR: -3.8%
• Equity multiple: 0.78×
• Total profit: $-10,758
• Equity at exit: $15,131

Cash invested: $49,000 (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 32225

• Rents YoY: -1.4%
• Active inventory: 222
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$918
• Tax from tax record: −$138 /mo · $1,653/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $282

Break-even live

Break-even rent $1,428

Max offer price $175,000

Occupancy floor 79%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11406 Bedford Oaks Dr Jacksonville, FL	2.0	1.5	1122	$1,500	$1.34	4d	1	0.53mi
3054 Cobblewood Ln W Jacksonville, FL	2.0	2.5	1480	$1,950	$1.32	21d	1	0.58mi
11728 Tanager Dr Jacksonville, FL	3.0	3.0	1464	$1,895	$1.29	2d	1	0.58mi
12021 McCormick Rd Jacksonville, FL	3.0	2.5	1214	$1,570	$1.29	3d	4	0.59mi
3333 Monument Rd Jacksonville, FL	1.0–2.0	1.0–2.0	862	$1,369	$1.59	2d	18	0.64mi
12036 Arbor Lake Dr Jacksonville, FL	2.0	2.0	1233	$1,795	$1.46	24d	1	0.65mi
11671 Tanager Dr Unit 1 Jacksonville, FL	3.0	2.5	1404	$1,900	$1.35	14d	1	0.68mi
11172 Tanager Dr Jacksonville, FL	3.0	2.5	1404	$1,900	$1.35	24d	1	0.79mi
11548 Willet Ct N Jacksonville, FL	3.0	2.0	1633	$1,800	$1.10	16d	1	0.87mi
3363 Hampstead Dr Jacksonville, FL	3.0	2.0	1551	$2,350	$1.52	17d	1	0.99mi

Listing history 17 events

1. 2026-06-18
   days on market $175,000 Active 279 DOM
2. 2026-06-17
   days on market $175,000 Active 278 DOM
3. 2026-06-16
   days on market $175,000 Active 277 DOM
4. 2026-06-15
   days on market $175,000 Active 276 DOM
5. 2026-06-10
   days on market $175,000 Active 270 DOM
6. 2026-06-08
   days on market $175,000 Active 269 DOM
7. 2026-06-08
   pricedays on market $175,000 Active 268 DOM
8. 2026-06-03
   days on market $195,000 Active 264 DOM
9. 2026-06-02
   days on market $195,000 Active 263 DOM
10. 2026-06-01
    days on market $195,000 Active 262 DOM
11. 2026-05-31
    days on market $195,000 Active 261 DOM
12. 2025-09-11
    listed $195,000 Active
13. 2018-12-10
    soldstatus $97,500
14. 2018-12-03
    status Pending 54-char remark

    Show marketing remark (54 chars)

    Tenant/Occupant purchase. MLS reporting for comp data.

15. 2018-12-03
    soldstatus $97,500 Sold 54-char remark

    Show marketing remark (54 chars)

    Tenant/Occupant purchase. MLS reporting for comp data.

16. 2018-12-03
    listed $97,500 Active 54-char remark

    Show marketing remark (54 chars)

    Tenant/Occupant purchase. MLS reporting for comp data.

17. 1984-12-01
    soldstatus $58,000

ⓘ 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: $1,653 · $138/mo
• Projected year-2 tax: $1,653 · $138/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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,431
• − Mortgage interest: −$9,803
• − Property taxes: −$1,653
• − Insurance: −$875
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$5,091
• Taxable income: $580
• Est. tax owed @ 24.0%: −$139
• After-tax cash flow: $3,250/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): 55,905
• Household income: $90,559
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1670.0

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 0.61)
• Race & ethnicity: White 59% Hispanic / Latino 14% Two or more races 14% Black 14% Asian 6%
• Hispanic origin (detail): Mexican 1% Puerto Rican 5% Cuban 1%
• Common ancestry: Serbian 3% Slovak 2% Romanian 2%
• Foreign-born: 13% · Canada, Jamaica, South Korea
• Languages at home: 82% English-only · Spanish 9% Tagalog/Filipino 2% Other Indo-European 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: ▼ -191.73%
• Current HPI: 307.1292
• Rent YoY: ▼ -1.45%
• 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

+236.2% since first listed

6 events — show timeline

• 2025-09-11 Listed $195,000 realMLS
• 2018-12-10 Sold (Public Records) $97,500 Public Records
• 2018-12-03 Pending — realMLS
• 2018-12-03 Listed $97,500 realMLS
• 2018-12-03 Sold (MLS) $97,500 realMLS
• 1984-12-01 Sold (Public Records) $58,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,653 · +14.9% YoY. Source: county tax records.