7915 103rd St #121

Jacksonville, FL 32210

$16,900D+

2 bd · 1.0 ba · 896 sqft · Built 2026 · Manufactured · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $919/mo
• Mortgage (P&I): −$89
• Tax + insurance: −$28
• HOA: −$0
• Vac / Maint / Mgmt: −$193
• Net cashflow: $610/mo
• Annual: $7,315/yr
• Cap rate: 49.57%
• Cash-on-cash: 154.58%
• DSCR: 7.88
• 1% rule: 5.44%
• Cash to close: $4,732

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $17k.
• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $17k).
• It's been on market 64 days — a 6% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $16k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $117 of loan paydown is wiped out by about $507 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: Gregory Drive Elementary School (math 26% / reading 23%, grade F, #2,037 of 2,144 statewide, top 96%, 530 students, 76% FRL); Charger Academy (math 33% / reading 26%, grade F, #469 of 571 statewide, top 84%, 961 students, 71% FRL); Westside High School (math 26% / reading 19%, grade F, #539 of 667 statewide, top 81%, 1,583 students, 63% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 46% district-wide (-20 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 (+2.1%/yr); 442 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 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.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 49.6% 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

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.