1538 Logan St · Jacksonville, FL 32209

$149,999

4 bd · 2.0 ba · 1,056 sqft · MultiFamily public records · 56 Days on market

Built 1958 3,920 sqft lot

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.0/5.0
• 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: 2 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

Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

Key facts

• 3,920 sq ft lot
• 4 parking spots
• Built 1958

Property features AI

Finance

• Financial info: Owner pays taxes

Exterior

• Parking: 4 parking spaces total; Additional parking available; Guest parking; On-street parking
• Security: Other security features
• Utilities: Public sewer; Cable connected; Electricity connected; Separate water meters
• Home design: Duplex (multi-family); One level; Entry at level 1; North-facing
• Construction: 2 buildings; 1 story total
• Exterior features: Many trees on the lot; City street frontage; Paved road access; Security features (other); Shingle/other roof

Interior

• Bedrooms: 4 bedrooms total
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Wall/window air conditioning units
• Interior features: Tile flooring; Unfurnished units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive. Per door: $224/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 rising (+1.8%/yr); 394 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,935/mo this rent would consume 76% of the median local household income ($31k/yr) (locally 2921% 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 $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 56 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $145,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% 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 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.29% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.82%
• DSCR: 1.57
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $44,352
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1507 Union St W	0.07mi	3/2.0 (-1)	1,100 (+4%)	19mo	$46,500	$42	69

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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,038
• Equity at exit: $22,365

10-year hold

• IRR: 9.7%
• Equity multiple: 1.71×
• Total profit: $29,626
• Equity at exit: $12,969

Cash invested: $42,000 (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 32209

• Home prices YoY: -22.1%
• Rents YoY: 1.8%
• Active inventory: 394
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,935 high
• Mortgage (P&I): −$787
• Tax from tax record: −$231 /mo · $2,770/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $449

Break-even live

Break-even rent $1,367

Max offer price $149,999

Occupancy floor 72%

Sensitivity live

Price	-10% $534	-5% $491	+0% $449	+5% $406	+10% $364
Rent	-10% $296	-5% $372	+0% $449	+5% $525	+10% $602
Rate	-1.0pp $524	-0.5pp $487	base $449	+0.5pp $410	+1.0pp $370

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,936
Total (2 units)			$1,935

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1607 Logan St Jacksonville, FL	4.0	2.0	1232	$1,800	$1.46	24d	1	0.05mi
1539 Union St W Jacksonville, FL	3.0	1.5	1000	$1,144	$1.14	14d	1	0.06mi
1545 Union St W Jacksonville, FL	3.0	2.0	1253	$1,400	$1.12	3d	1	0.06mi
1470 Windle St Jacksonville, FL	3.0	2.0	1170	$1,425	$1.22	15d	1	0.12mi
1448 Union St W Jacksonville, FL	3.0	1.0	958	$1,200	$1.25	24d	1	0.13mi
1358 Prince St Jacksonville, FL	3.0	2.5	1044	$1,350	$1.29	24d	1	0.37mi
1358 Prince St Jacksonville, FL	3.0	3.5	1044	$1,350	$1.29	22d	1	0.37mi
1640 W 4th St Unit 1 Jacksonville, FL	4.0	2.0	1119	$1,675	$1.50	20d	1	0.37mi
1783 W 3rd St Jacksonville, FL	3.0	1.0	816	$650	$0.80	24d	1	0.40mi
1478 W 5th St Jacksonville, FL	3.0	1.0	960	$1,225	$1.28	24d	1	0.46mi
1478 W 5th St Jacksonville, FL	3.0	1.0	960	$1,225	$1.28	5d	1	0.46mi
1788 W 5th St Jacksonville, FL	3.0	2.0	948	$1,295	$1.37	24d	1	0.48mi
1355 Grothe St Jacksonville, FL	4.0	1.0	1312	$1,350	$1.03	18d	1	0.51mi
1319 Woods St Jacksonville, FL	3.0	2.0	1103	$1,221	$1.11	24d	1	0.52mi
1911 W 3rd St Jacksonville, FL	3.0	1.0	912	$1,050	$1.15	5d	1	0.60mi
1537 7th St W Unit B Jacksonville, FL	3.0	1.0	950	$1,050	$1.11	24d	1	0.61mi
1923 Broadway Ave Jacksonville, FL	3.0	2.0	1230	$1,421	$1.16	24d	1	0.61mi
1537 W 7th St Jacksonville, FL	3.0	1.0	950	$1,050	$1.11	8d	1	0.61mi
1866 W 6th St Jacksonville, FL	3.0	1.0	1064	$1,120	$1.05	4d	1	0.64mi
1979 Yulee St Jacksonville, FL	3.0	2.0	1050	$1,500	$1.43	24d	1	0.69mi
2012 Baldwin St Jacksonville, FL	3.0	2.0	1232	$1,445	$1.17	24d	1	0.72mi
1934 W 6th St Jacksonville, FL	3.0	1.0	948	$1,125	$1.19	24d	1	0.72mi
1740 W 9th St Jacksonville, FL	4.0	2.0	1148	$1,285	$1.12	21d	1	0.80mi
1454 Francis St Jacksonville, FL	3.0	2.0	1084	$1,243	$1.15	24d	1	0.81mi
1995 W 4th St Jacksonville, FL	4.0	1.5	1213	$1,375	$1.13	24d	1	0.81mi
181 Barstow Pl Jacksonville, FL	3.0	2.5	1363	$2,500	$1.83	24d	1	0.83mi
1934 Ella St Jacksonville, FL	3.0	1.0	1045	$1,095	$1.05	21d	1	0.86mi
2011 W 5th St Jacksonville, FL	3.0	1.0	988	$1,150	$1.16	24d	1	0.87mi
226 Spruce St Jacksonville, FL	4.0	2.0	1196	$1,148	$0.96	3d	1	0.88mi
1733 McMillan St Jacksonville, FL	3.0	2.0	1211	$1,265	$1.04	5d	1	0.88mi
1721 Campus St Jacksonville, FL	3.0	2.0	909	$1,400	$1.54	24d	1	0.90mi
2154 Placeda St Jacksonville, FL	4.0	1.5	1124	$1,500	$1.33	22d	1	1.00mi
2185 Kingston St Jacksonville, FL	3.0	2.0	1230	$1,381	$1.12	24d	1	1.02mi
2306 Fairfax St Unit 1 Jacksonville, FL	3.0	1.0	900	$700	$0.78	24d	1	1.03mi
2312 Fairfax St Jacksonville, FL	3.0	1.0	726	$650	$0.90	18d	1	1.04mi
2210 Pullman Ave Jacksonville, FL	3.0	1.0	940	$1,050	$1.12	3d	1	1.07mi
2116 McMillan St Jacksonville, FL	3.0	1.5	1120	$1,425	$1.27	22d	1	1.08mi
1525 W 15th St Jacksonville, FL	3.0	1.0	1100	$1,245	$1.13	24d	1	1.10mi
371 Smith St Jacksonville, FL	3.0	2.0	1050	$1,325	$1.26	5d	1	1.16mi
2134 Danson St Jacksonville, FL	3.0	1.5	1080	$995	$0.92	4d	1	1.18mi

Listing history 31 events

1. 2026-06-18
   days on market $149,999 Active 56 DOM
2. 2026-06-17
   days on market $149,999 Active 55 DOM
3. 2026-06-16
   days on market $149,999 Active 54 DOM
4. 2026-06-16
   price $149,999 Active 53 DOM
5. 2026-06-15
   days on market $154,500 Active 53 DOM
6. 2026-06-13
   days on market $154,500 Active 50 DOM
7. 2026-06-10
   days on market $154,500 Active 47 DOM
8. 2026-06-08
   days on market $154,500 Active 46 DOM
9. 2026-06-07
   pricedays on market $154,500 Active 45 DOM
10. 2026-06-05
    days on market $159,500 Active 42 DOM
11. 2026-06-03
    days on market $159,500 Active 41 DOM
12. 2026-06-02
    days on market $159,500 Active 40 DOM
13. 2026-06-01
    days on market $159,500 Active 39 DOM
14. 2026-05-31
    days on market $159,500 Active 38 DOM
15. 2026-05-20
    price $159,500
16. 2026-05-11
    price $164,500
17. 2026-04-30
    price $169,500
18. 2026-04-23
    listed $170,000 Active
19. 2025-02-22
    historical $750
20. 2024-06-18
    listed $775
21. 2022-01-25
    soldstatus $155,000
22. 2022-01-14
    soldstatus $155,000 Sold 202-char remark

    Show marketing remark (202 chars)

    Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

23. 2022-01-05
    status Pending 202-char remark

    Show marketing remark (202 chars)

    Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

24. 2021-12-09
    price $150,000 202-char remark

    Show marketing remark (202 chars)

    Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

25. 2021-12-09
    status Active 202-char remark

    Show marketing remark (202 chars)

    Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

26. 2021-08-17
    historical 202-char remark

    Show marketing remark (202 chars)

    Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

27. 2021-08-05
    listed $170,000 Active 202-char remark

    Show marketing remark (202 chars)

    Don't miss out on this turn key investment property. Both side are newly renovated . Each side is rented for $800 per month. Property has new roof, new plumbing, new fence, new gutters new windows ,etc.

28. 2020-01-02
    soldstatus $1,850,000
29. 2017-12-08
    soldstatus $1,683,000
30. 1998-02-23
    soldstatus $464,700
31. 1994-03-10
    soldstatus $45,000

ⓘ 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: $2,770 · $231/mo
• Projected year-2 tax: $2,770 · $231/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $23,220
• − Mortgage interest: −$8,402
• − Property taxes: −$2,770
• − Insurance: −$750
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$4,364
• Taxable income: $3,219
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,612/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): 34,657
• Household income: $30,514
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2921.0

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 (88%)
• Race & ethnicity: Black 88% White 5% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -53.92%
• Current HPI: 189.5977
• Rent YoY: ▲ 1.81%
• 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

+254.4% since first listed

17 events — show timeline

• 2026-05-20 Price Changed $159,500 realMLS
• 2026-05-11 Price Changed $164,500 realMLS
• 2026-04-30 Price Changed $169,500 realMLS
• 2026-04-23 Listed $170,000 realMLS
• 2025-02-22 Rental Removed $750 APPFOLIO
• 2024-06-18 Listed for Rent $775 APPFOLIO
• 2022-01-25 Sold (Public Records) $155,000 Public Records
• 2022-01-14 Sold (MLS) $155,000 realMLS
• 2022-01-05 Pending — realMLS
• 2021-12-09 Price Changed $150,000 realMLS
• 2021-12-09 Relisted — realMLS
• 2021-08-17 Listing Removed — realMLS
• 2021-08-05 Listed $170,000 realMLS
• 2020-01-02 Sold (Public Records) $1,850,000 Public Records
• 2017-12-08 Sold (Public Records) $1,683,000 Public Records
• 1998-02-23 Sold (Public Records) $464,700 Public Records
• 1994-03-10 Sold (Public Records) $45,000 Public Records

Property tax history

+15.3%/yr

Latest (2025): $2,770 · +20.1% YoY. Source: county tax records.