1129 Grothe St · Jacksonville, FL 32209

$250,000

6 bd · 4.0 ba · 3,160 sqft · MultiFamily public records · 87 Days on market

Built 1915

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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 +27.7/30.0
• DSCR +9.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• 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

Investment Opportunity: Income producing Duplex in Jacksonville, FL. Total Building Size: 3,770 sq ft | Effective Gross Area: 3,274 sq ft. Unit Breakdown: Unit 1129 (Upstairs): 4 Bed / 2 Bath Approx. 1,600 sq ft Currently rented for $1,150/month. Unit 1131 (Downstairs): 3 Bed / 2 Bath Approx. 1,600 sq ft Vacant, market rent $1,250/month. Monthly Income Potential: $2,300/month. Recent Upgrades: New roof installed in 2024, new A/C unit for downstairs and updated flooring and repairs in upstairs unit. Additional Features: Separate water and electric meters for each unit, washer and dryer hookups in both units, central heating with wall units upstairs. Just 15 minutes from downtown Jacksonville

Key facts

• 2 parking spots
• Built 1915
• Listed 86 days

Property features AI

Finance

• Financial info: One unit currently leased at $1,150/month

Exterior

• Parking: Two parking spaces
• Utilities: Public sewer; Cable not available
• Home design: 2-story building; Spanish tile roof; Block construction; Zoned RMD-B
• Construction: Block construction; Spanish tile roof; Resale property
• Exterior features: Less than quarter acre lot

Interior

• Kitchen: Kitchen in each unit
• Bedrooms: One 3-bedroom unit; One 4-bedroom unit
• Flooring: Tile
• Bathrooms: Two full bathrooms in the 3-bedroom unit; Two full bathrooms in the 4-bedroom unit
• Heating & cooling: Central heating; Central air
• Interior features: Tile flooring; Central air conditioning; Central heating
• Laundry & utility: Air conditioning units (individual units noted in descriptions)

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $754 ($9k/yr) — positive. Per door: $377/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 (+1.8%/yr); 399 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• At $3,098/mo this rent would consume 122% 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 $2k of loan paydown is wiped out by about $8k 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 87 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $135k; list at $250k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.24% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,903
• Equity at exit: $37,276

10-year hold

• IRR: 9.9%
• Equity multiple: 1.72×
• Total profit: $50,692
• Equity at exit: $21,615

Cash invested: $70,000 (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: 399
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $3,098 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$278 /mo · $3,333/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $754

Break-even live

Break-even rent $2,143

Max offer price $250,000

Occupancy floor 71%

Sensitivity live

Price	-10% $896	-5% $825	+0% $754	+5% $684	+10% $613
Rent	-10% $510	-5% $632	+0% $754	+5% $877	+10% $999
Rate	-1.0pp $880	-0.5pp $818	base $754	+0.5pp $690	+1.0pp $624

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2	$3,098
Total (2 units)			$3,098

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 N Market St Jacksonville, FL	5.0	3.5	2750	$3,100	$1.13	18d	1	1.30mi

Listing history 40 events

1. 2026-06-21
   days on market $250,000 Active 87 DOM
2. 2026-06-18
   days on market $250,000 Active 84 DOM
3. 2026-06-17
   days on market $250,000 Active 83 DOM
4. 2026-06-16
   days on market $250,000 Active 82 DOM
5. 2026-06-15
   days on market $250,000 Active 81 DOM
6. 2026-06-13
   days on market $250,000 Active 78 DOM
7. 2026-06-10
   days on market $250,000 Active 75 DOM
8. 2026-06-08
   days on market $250,000 Active 74 DOM
9. 2026-06-07
   days on market $250,000 Active 73 DOM
10. 2026-06-03
    days on market $250,000 Active 69 DOM
11. 2026-06-02
    days on market $250,000 Active 68 DOM
12. 2026-06-01
    days on market $250,000 Active 67 DOM
13. 2026-05-31
    days on market $250,000 Active 66 DOM
14. 2026-03-26
    listed $250,000 Active
15. 2026-03-26
    historical
16. 2026-02-11
    price $255,000
17. 2025-11-03
    price $260,000
18. 2025-09-30
    listed $265,000 Active
19. 2025-09-26
    historical
20. 2025-06-27
    price $240,000
21. 2025-03-15
    listed $260,000 Active
22. 2025-03-13
    historical
23. 2025-01-28
    price $265,000
24. 2025-01-02
    price $279,000
25. 2024-12-03
    listed $295,000 Active
26. 2023-04-17
    soldstatus $135,000 Sold
27. 2023-03-31
    status Pending
28. 2023-03-21
    historical Active - Contingent
29. 2023-03-10
    status Active
30. 2023-03-08
    historical Active - Contingent
31. 2023-02-22
    status Active
32. 2023-02-20
    historical Active - Contingent
33. 2023-02-15
    listed $180,770 Active
34. 2019-09-27
    soldstatus $65,000
35. 2006-11-17
    soldstatus $110,000
36. 2006-11-15
    historical
37. 2006-11-07
    soldstatus $110,000
38. 2006-09-08
    listed $115,000
39. 2006-07-27
    soldstatus $45,000
40. 1994-08-19
    soldstatus $38,500

ⓘ 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: $3,333 · $278/mo
• Projected year-2 tax: $3,333 · $278/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: $37,176
• − Mortgage interest: −$14,004
• − Property taxes: −$3,333
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,974
• − Management: −$2,974
• − Depreciation: −$7,273
• Taxable income: $5,368
• Est. tax owed @ 24.0%: −$1,288
• After-tax cash flow: $7,766/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

+549.4% since first listed

27 events — show timeline

• 2026-03-26 Listing Removed — MARMLS
• 2026-03-26 Listed $250,000 MARMLS
• 2026-02-11 Price Changed $255,000 MARMLS
• 2025-11-03 Price Changed $260,000 MARMLS
• 2025-09-30 Listed $265,000 MARMLS
• 2025-09-26 Listing Removed — MARMLS
• 2025-06-27 Price Changed $240,000 MARMLS
• 2025-03-15 Listed $260,000 MARMLS
• 2025-03-13 Listing Removed — MARMLS
• 2025-01-28 Price Changed $265,000 MARMLS
• 2025-01-02 Price Changed $279,000 MARMLS
• 2024-12-03 Listed $295,000 MARMLS
• 2023-04-17 Sold (MLS) $135,000 realMLS
• 2023-03-31 Pending — realMLS
• 2023-03-21 Contingent — realMLS
• 2023-03-10 Relisted — realMLS
• 2023-03-08 Contingent — realMLS
• 2023-02-22 Relisted — realMLS
• 2023-02-20 Contingent — realMLS
• 2023-02-15 Listed $180,770 realMLS
• 2019-09-27 Sold (Public Records) $65,000 Public Records
• 2006-11-17 Sold (Public Records) $110,000 Public Records
• 2006-11-15 Listing Removed — realMLS
• 2006-11-07 Sold (MLS) $110,000 realMLS
• 2006-09-08 Listed $115,000 realMLS
• 2006-07-27 Sold (Public Records) $45,000 Public Records
• 1994-08-19 Sold (Public Records) $38,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $3,333 · +21.4% YoY. Source: county tax records.