222 4th Ave S

Jacksonville Beach, FL 32250

$1,300,000D

4 bd · 4.0 ba · 2,300 sqft · Built 1947 · MultiFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,429/mo
• Mortgage (P&I): −$6,817
• Tax + insurance: −$1,672
• HOA: −$0
• Vac / Maint / Mgmt: −$2,190
• Net cashflow: $-251/mo
• Annual: $-3,008/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• 1% rule: 0.80%
• Cash to close: $364,000

Investor read

• This is a 4 × 4-bed/2.0-bath units multifamily listed at $1.30M.
• At list price, monthly cash flow is $-251 ($-3k/yr) — negative. Per door: $-63/mo.
• To cash-flow at today's rent, offer at most $1.26M (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.04M (19.8% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $1.04M (19.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $39k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#40 in FL, #800 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F, cost of living F.
• 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: Seabreeze Elementary School (math 71% / reading 69%, grade A-, #345 of 2,144 statewide, top 17%, 519 students, 33% FRL); Duncan U. Fletcher High School (math 32% / reading 57%, grade F, #237 of 667 statewide, top 36%, 2,067 students, 26% FRL) — zoned schools average 30% FRL vs 49% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.0%/yr); 313 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• Current owner paid $66k; list at $1.30M implies a 1861% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; 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 6.1% vs local median 1.6% in Jacksonville Beach — 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.
• At $10,429/mo this rent would consume 106% of the median local household income ($118k/yr) (locally 719% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 A-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?