1828 W 3rd St · Jacksonville, FL 32209

$47,000

3 bd · 1.0 ba · 798 sqft · SingleFamily public records · 165 Days on market

Built 1950 3,049 sqft lot ↓ 15% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks

3/1 home, easily convertible to 3/2 or 4/1, 960 sq ft. Located just a few miles west of downtown Jacksonville in a rapidly improving neighborhood. Full remodel needed--ideal for investors, flippers, landlords, or experienced homeowners.

Key facts

• Convenient access
• Full remodel
• 3,049 sq ft lot

Tags

• FULL REMODEL
• STRONG UPSIDE POTENTIAL
• CONVENIENT ACCESS

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Off-street parking
• Utilities: Cable available; Electricity available; Sewer available; Water available
• Home design: Single-family residence; One level
• Construction: Frame construction with wood siding
• Exterior features: Lot approximately 0.07 acres; No private pool

Interior

• Kitchen: Kitchen (first floor)
• Bedrooms: Three bedrooms (all on the first floor)
• Bathrooms: One full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Six total rooms; No built-in appliances listed
• Laundry & utility: No heating or cooling appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% 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: Smart Pope Livingston Elementary (428 students, 91% FRL); Lake Shore Middle School (math 25% / reading 22%, grade F, #536 of 571 statewide, top 95%, 972 students, 75% FRL); William M. Raines High School (math 14% / reading 13%, grade F, #616 of 667 statewide, top 92%, 1,217 students, 78% FRL) — zoned schools average 82% FRL vs 49% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 46% district-wide (-27 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 (+1.8%/yr); 399 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $325 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1950 — 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 $41,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 2.44% ✓
• Cap rate: 19.48%
• Cash-on-cash: 47.11%
• DSCR: 3.10
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $102,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 W 3rd St	0.38mi	2/1.0 (-1)	776 (-3%)	1mo	$107,000	$138	72
2070 Woodside St	0.60mi	3/1.0	800 (+0%)	4mo	$116,500	$146	68
1444 Grothe St	0.56mi	3/1.0	828 (+4%)	7mo	$75,000	$91	62
2002 Baldwin St	0.54mi	2/1.0 (-1)	780 (-2%)	6mo	$87,500	$112	61
1753 W 12th St	0.67mi	3/1.0	827 (+4%)	4mo	$45,000	$54	60
1464 W 6th St	0.56mi	2/1.0 (-1)	766 (-4%)	7mo	$98,000	$128	57
2034 Commonwealth Ave	0.52mi	2/2.0 (-1)	818 (+2%)	8mo	$199,017	$243	56
2108 Yulee St	0.63mi	3/1.0	873 (+9%)	0mo	$117,000	$134	55
1339 Hart St	0.67mi	2/2.0 (-1)	818 (+2%)	4mo	$199,017	$243	52
2031 Danson St	0.67mi	2/1.0 (-1)	864 (+8%)	6mo	$72,000	$83	45
2081 Baldwin St	0.63mi	3/1.0	915 (+15%)	2mo	$47,000	$51	45
1480 N Myrtle Ave N	0.72mi	2/1.0 (-1)	916 (+15%)	2mo	$60,000	$66	35

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: 43.1%
• Equity multiple: 2.82×
• Total profit: $23,986
• Equity at exit: $7,008

10-year hold

• IRR: 48.5%
• Equity multiple: 5.41×
• Total profit: $58,047
• Equity at exit: $4,064

Cash invested: $13,160 (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: 399
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,148 high
• Mortgage (P&I): −$246
• Tax from tax record: −$124 /mo · $1,488/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $517

Break-even live

Break-even rent $494

Max offer price $47,000

Occupancy floor 50%

Sensitivity live

Price	-10% $543	-5% $530	+0% $517	+5% $503	+10% $490
Rent	-10% $426	-5% $471	+0% $517	+5% $562	+10% $607
Rate	-1.0pp $540	-0.5pp $529	base $517	+0.5pp $504	+1.0pp $492

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Woods St Jacksonville, FL	3.0	2.0	1103	$1,221	$1.11	25d	1	0.08mi
1783 W 3rd St Jacksonville, FL	3.0	1.0	816	$650	$0.80	25d	1	0.12mi
1911 W 3rd St Jacksonville, FL	3.0	1.0	912	$1,050	$1.15	6d	1	0.15mi
1788 W 5th St Jacksonville, FL	3.0	2.0	948	$1,295	$1.37	25d	1	0.17mi
1866 W 6th St Jacksonville, FL	3.0	1.0	1064	$1,120	$1.05	5d	1	0.20mi
1710 W 2nd St Unit A Jacksonville, FL	2.0	1.0	939	$800	$0.85	25d	1	0.20mi
1751 Broadway Ave Jacksonville, FL	2.0	1.0	1000	$1,525	$1.52	6d	1	0.22mi
1934 W 6th St Jacksonville, FL	3.0	1.0	948	$1,125	$1.19	25d	1	0.27mi
1649 State St W Jacksonville, FL	2.0	1.0	540	$780	$1.44	25d	1	0.29mi
1640 W 4th St Unit 1 Jacksonville, FL	4.0	2.0	1119	$1,675	$1.50	21d	1	0.29mi
1657 Union St W Unit 1 Jacksonville, FL	2.0	1.0	700	$1,050	$1.50	3d	1	0.34mi
1651 Union St W Jacksonville, FL	2.0	1.0	675	$900	$1.33	25d	1	0.34mi
1729 Logan St W Unit 3 Jacksonville, FL	2.0	1.0	694	$850	$1.22	25d	1	0.36mi
1539 Union St W Jacksonville, FL	3.0	1.5	1000	$1,144	$1.14	15d	1	0.40mi
1979 Yulee St Jacksonville, FL	3.0	2.0	1050	$1,500	$1.43	25d	1	0.43mi
2011 W 5th St Jacksonville, FL	3.0	1.0	988	$1,150	$1.16	25d	1	0.43mi
844 Tyler St Unit 1 Jacksonville, FL	2.0	1.0	800	$900	$1.12	9d	1	0.44mi
1776 Spires Ave Unit 2 Jacksonville, FL	2.0	1.0	800	$1,125	$1.41	6d	1	0.45mi
1721 Campus St Jacksonville, FL	3.0	2.0	909	$1,400	$1.54	25d	1	0.45mi
1934 Ella St Jacksonville, FL	3.0	1.0	1045	$1,095	$1.05	22d	1	0.46mi
1534 Morgan St Unit 1-4 Jacksonville, FL	3.0	1.0	694	$999	$1.44	25d	1	0.49mi
1570 Mc Conihe St Unit B Jacksonville, FL	2.0	1.0	714	$875	$1.23	25d	1	0.52mi
1448 Union St W Jacksonville, FL	3.0	1.0	958	$1,200	$1.25	25d	1	0.52mi
1537 7th St W Unit B Jacksonville, FL	3.0	1.0	950	$1,050	$1.11	25d	1	0.54mi
1537 W 7th St Jacksonville, FL	3.0	1.0	950	$1,050	$1.11	9d	1	0.54mi
1437 Prince St Unit 1437 Jacksonville, FL	2.0	1.0	700	$1,120	$1.60	25d	1	0.55mi
1478 W 5th St Jacksonville, FL	3.0	1.0	960	$1,225	$1.28	25d	1	0.55mi
1478 W 5th St Jacksonville, FL	3.0	1.0	960	$1,225	$1.28	6d	1	0.55mi
1923 Fairfax St Jacksonville, FL	2.0	1.0	616	$835	$1.36	16d	1	0.56mi
2008 Palafox St Jacksonville, FL	2.0	1.0	750	$950	$1.27	23d	1	0.57mi
2012 Palafox St Jacksonville, FL	2.0	1.0	750	$950	$1.27	22d	1	0.57mi
1460 W 5th St Unit 1 Jacksonville, FL	2.0	1.0	700	$850	$1.21	13d	1	0.57mi
1460 W 5th St Jacksonville, FL	2.0	1.0	675	$875	$1.30	13d	1	0.57mi
1425 Morgan St Jacksonville, FL	2.0	1.0	850	$650	$0.76	5d	1	0.60mi
1538 Ella St Unit 1 Jacksonville, FL	2.0	1.0	700	$1,100	$1.57	25d	1	0.62mi
1376 Prince St Jacksonville, FL	2.0	1.0	800	$1,050	$1.31	9d	1	0.62mi
2016 McMillan St Jacksonville, FL	2.0	1.0	812	$650	$0.80	25d	1	0.63mi
2128 Woodside St Jacksonville, FL	2.0	1.0	776	$895	$1.15	25d	1	0.65mi
1358 Prince St Jacksonville, FL	3.0	3.5	1044	$1,350	$1.29	23d	1	0.65mi
1358 Prince St Jacksonville, FL	3.0	2.5	1044	$1,350	$1.29	25d	1	0.65mi

Listing history 18 events

1. 2026-06-21
   days on market $47,000 Active 165 DOM
2. 2026-06-18
   days on market $47,000 Active 162 DOM
3. 2026-06-17
   days on market $47,000 Active 161 DOM
4. 2026-06-16
   days on market $47,000 Active 160 DOM
5. 2026-06-15
   days on market $47,000 Active 159 DOM
6. 2026-06-10
   days on market $47,000 Active 153 DOM
7. 2026-06-08
   days on market $47,000 Active 152 DOM
8. 2026-06-08
   days on market $47,000 Active 151 DOM
9. 2026-06-03
   days on market $47,000 Active 147 DOM
10. 2026-06-02
    days on market $47,000 Active 146 DOM
11. 2026-06-01
    days on market $47,000 Active 145 DOM
12. 2026-05-31
    days on market $47,000 Active 144 DOM
13. 2026-04-27
    price $47,000
14. 2026-03-30
    price $48,500
15. 2026-03-20
    status Active
16. 2026-03-13
    historical Active Under Contract
17. 2026-02-02
    price $50,000
18. 2026-01-07
    listed $55,000 Active

ⓘ 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: $1,488 · $124/mo
• Projected year-2 tax: $1,488 · $124/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: $13,772
• − Mortgage interest: −$2,633
• − Property taxes: −$1,488
• − Insurance: −$235
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$1,367
• Taxable income: $5,846
• Est. tax owed @ 24.0%: −$1,403
• After-tax cash flow: $4,796/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

-14.5% since first listed

6 events — show timeline

• 2026-04-27 Price Changed $47,000 realMLS
• 2026-03-30 Price Changed $48,500 realMLS
• 2026-03-20 Relisted — realMLS
• 2026-03-13 Contingent — realMLS
• 2026-02-02 Price Changed $50,000 realMLS
• 2026-01-07 Listed $55,000 realMLS

Property tax history

+21.1%/yr

Latest (2025): $1,488 · +718.6% YoY. Source: county tax records.