7801 Point Meadows Dr

Jacksonville, FL 32256

$225,000B

3 bd · 2.0 ba · 1,447 sqft · Built 2003 · MultiFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,475/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$802
• HOA: −$0
• Vac / Maint / Mgmt: −$940
• Net cashflow: $1,554/mo
• Annual: $18,645/yr
• Cap rate: 16.85%
• Cash-on-cash: 37.72%
• DSCR: 2.68
• 1% rule: 1.99%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath multifamily listed at $225k.
• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• It's been on market 26 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-1.6%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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: Twin Lakes Academy Elementary School (math 44% / reading 43%, grade F, #1,345 of 2,144 statewide, top 64%, 881 students, 50% FRL); Twin Lakes Academy Middle School (math 43% / reading 38%, grade F, #360 of 571 statewide, top 64%, 1,076 students, 44% FRL); Atlantic Coast High School (math 37% / reading 48%, grade F, #264 of 667 statewide, top 41%, 2,537 students, 35% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: Rents flat; 520 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• Duval County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 29 sale attempts since 23y 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 $168k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-1.6% appreciation + 0.4% rent growth), your $63k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 16.9% 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.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.