3318 Nolan St

Jacksonville, FL 32254

$49,500B+

2 bd · 1.0 ba · 884 sqft · Built 1943 · SingleFamily · Active · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,195/mo
• Mortgage (P&I): −$260
• Tax + insurance: −$109
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $576/mo
• Annual: $6,910/yr
• Cap rate: 20.25%
• Cash-on-cash: 49.85%
• DSCR: 3.22
• 1% rule: 2.41%
• Cash to close: $13,860

Investor read

• This is a 2-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 30 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($342 loan paydown + $2k appreciation (3.4% local appreciation)).
• 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.
• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.7%/yr); 172 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• Duval County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $6k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $50k implies a 108% gain — meaningful room to come down on a strong offer.
• At projected returns (3.4% appreciation + 1.7% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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.
• Cap rate 20.3% 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.
• This rent runs 41% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.