302 Belfort St · Jacksonville, FL 32204

$70,000

3 bd · 1.0 ba · 1,456 sqft · SingleFamily · 40 Days on market

Built 1914 Fair condition 5,227 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This spacious 3-bedroom 1 bathroom home is just waiting for you to make it shine again! This home offers a large kitchen, spacious bedrooms and a convenient location. A great project house to add to your portfolio. No LOI, no blind offers and no assignable contracts. LOI will not receive a response. 1-year transferable termite bond.

Key facts

• 5,227 sq ft lot
• Built 1914
• Listed 40 days

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Off-street parking
• Utilities: Public sewer; Electricity connected; Sewer connected; Water available
• Home design: Single-family residence; Residential use
• Construction: Frame construction
• Exterior features: Corner lot

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Central heating; Central air
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.6% 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.

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 fast (+4.7%/yr); 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• This rent runs 31% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 2.38% ✓
• Cap rate: 20.59%
• Cash-on-cash: 51.07%
• DSCR: 3.27
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $368,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2562 Summit St	0.16mi	3/2.0	1,268 (-13%)	3mo	$205,000	$162	65
2165 Gilmore St	0.48mi	3/2.5	1,446 (-1%)	10mo	$455,000	$315	62
598 Florence St	0.58mi	3/2.5	1,426 (-2%)	10mo	$270,000	$189	55
2231 Dellwood Ave	0.59mi	3/2.0	1,574 (+8%)	0mo	$475,000	$302	54
2664 Ernest St	0.61mi	3/2.0	1,361 (-6%)	4mo	$295,000	$217	54
2331 Myra St	0.65mi	3/1.0	1,280 (-12%)	1mo	$366,000	$286	49
2111 Myra St	0.68mi	3/1.0	1,304 (-10%)	7mo	$275,000	$211	45
2669 Ernest St	0.59mi	3/2.0	1,324 (-9%)	13mo	$335,000	$253	42
2224 Dellwood Ave	0.62mi	3/1.5	1,674 (+15%)	3mo	$275,000	$164	42
2580 Dellwood Ave	0.64mi	3/2.0	1,611 (+11%)	9mo	$435,000	$270	41
2594 Haldumar Ter	0.74mi	2/1.0 (-1)	1,260 (-14%)	3mo	$285,000	$226	36
2138 Ernest St	0.58mi	2/2.0 (-1)	1,245 (-14%)	8mo	$389,000	$312	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: 50.8%
• Equity multiple: 3.28×
• Total profit: $44,691
• Equity at exit: $10,437

10-year hold

• IRR: 56.9%
• Equity multiple: 7.11×
• Total profit: $119,676
• Equity at exit: $6,052

Cash invested: $19,600 (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 32204

• Home prices YoY: -28.2%
• Rents YoY: 4.7%
• Active inventory: 75
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $834

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 45%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
346 Acosta St Jacksonville, FL	4.0	3.5	1536	$1,600	$1.04	23d	1	0.15mi
371 Smith St Jacksonville, FL	3.0	2.0	1050	$1,325	$1.26	4d	1	0.29mi
2526 Phyllis St Jacksonville, FL	3.0	2.0	1300	$1,800	$1.38	23d	1	0.42mi
2561 Rosselle St #1 Jacksonville, FL	3.0	3.0	1287	$1,395	$1.08	23d	1	0.46mi
420 Sunshine St Jacksonville, FL	3.0	2.0	1050	$1,350	$1.29	1d	1	0.55mi
715 Ralph St Jacksonville, FL	4.0	2.0	1338	$2,195	$1.64	4d	1	0.63mi
1923 Broadway Ave Jacksonville, FL	3.0	2.0	1230	$1,421	$1.16	23d	1	0.66mi
717 King St Jacksonville, FL	3.0	2.0	1132	$1,800	$1.59	17d	1	0.66mi
2012 Baldwin St Jacksonville, FL	3.0	2.0	1232	$1,445	$1.17	23d	1	0.67mi
2614 Dellwood Ave Jacksonville, FL	3.0	1.0	1122	$2,325	$2.07	4d	1	0.67mi
2002 Ernest St Unit A Jacksonville, FL	2.0	1.0	1000	$1,795	$1.79	13d	1	0.68mi
2044 Dellwood Ave Jacksonville, FL	2.0	1.0	1375	$1,825	$1.33	23d	1	0.71mi
2309 College St Jacksonville, FL	2.0	1.0	1200	$1,200	$1.00	13d	1	0.75mi
2701 Myra St Jacksonville, FL	3.0	1.0	1065	$1,595	$1.50	21d	1	0.75mi
2759 Dellwood Ave Jacksonville, FL	3.0	2.0	1080	$2,100	$1.94	19d	1	0.76mi
2578 Haldumar Ter Jacksonville, FL	2.0	1.0	1114	$2,195	$1.97	14d	1	0.77mi
1979 Yulee St Jacksonville, FL	3.0	2.0	1050	$1,500	$1.43	23d	1	0.78mi
2136 College St #4 Jacksonville, FL	2.0	1.0	900	$1,250	$1.39	23d	1	0.80mi
1751 Broadway Ave Jacksonville, FL	2.0	1.0	1000	$1,525	$1.52	4d	1	0.83mi
2812 Ernest St Jacksonville, FL	3.0	1.0	1461	$2,800	$1.92	23d	1	0.85mi
2657 Post St Apt 2 Jacksonville, FL	3.0	1.0	1100	$1,700	$1.55	2d	1	0.88mi
1607 Logan St Jacksonville, FL	4.0	2.0	1232	$1,800	$1.46	23d	1	0.90mi
2803 College St Jacksonville, FL	2.0	1.0	1100	$1,550	$1.41	13d	1	0.92mi
3035 Fitzgerald St Jacksonville, FL	2.0	1.0	900	$1,021	$1.13	2d	1	0.94mi
226 Spruce St Jacksonville, FL	4.0	2.0	1196	$1,148	$0.96	2d	1	0.94mi
1545 Union St W Jacksonville, FL	3.0	2.0	1253	$1,400	$1.12	2d	1	0.95mi
2410 McQuade St Jacksonville, FL	3.0	2.0	1307	$1,425	$1.09	23d	1	0.96mi
2777 Post St Jacksonville, FL	2.0	1.0	1200	$1,195	$1.00	23d	1	0.96mi
1539 Union St W Jacksonville, FL	3.0	1.5	1000	$1,144	$1.14	13d	1	0.96mi
2185 Kingston St Jacksonville, FL	3.0	2.0	1230	$1,381	$1.12	23d	1	0.96mi
2154 Placeda St Jacksonville, FL	4.0	1.5	1124	$1,500	$1.33	21d	1	0.97mi
2589 Park St Unit 2589 Jacksonville, FL	2.0	1.0	1354	$1,850	$1.37	23d	1	0.97mi
2980 Ernest St Jacksonville, FL	2.0	1.0	920	$1,200	$1.30	23d	1	1.01mi
3118 Dignan St Jacksonville, FL	4.0	2.0	1103	$1,148	$1.04	1d	1	1.03mi
1448 Union St W Jacksonville, FL	3.0	1.0	958	$1,200	$1.25	23d	1	1.04mi
1145 N Canal St Jacksonville, FL	2.0	2.0	1184	$1,396	$1.18	2d	1	1.05mi
1470 Windle St Jacksonville, FL	3.0	2.0	1170	$1,425	$1.22	14d	1	1.05mi
1943 Hardee St #1 Jacksonville, FL	3.0	2.0	1622	$1,248	$0.77	3d	1	1.05mi
1710 W 2nd St Unit A Jacksonville, FL	2.0	1.0	939	$800	$0.85	23d	1	1.06mi
809 McDuff Ave S Jacksonville, FL	2.0	1.0	1006	$995	$0.99	4d	1	1.06mi

Listing history 16 events

1. 2026-06-18
   days on market $70,000 Active 40 DOM
2. 2026-06-17
   price $70,000 Active 39 DOM
3. 2026-06-17
   days on market $75,000 Active 39 DOM
4. 2026-06-16
   days on market $75,000 Active 38 DOM
5. 2026-06-15
   days on market $75,000 Active 37 DOM
6. 2026-06-13
   days on market $75,000 Active 34 DOM
7. 2026-06-10
   remarks 334-char remark
8. 2026-06-10
   days on market $75,000 Active 31 DOM
9. 2026-06-08
   days on market $75,000 Active 30 DOM
10. 2026-06-07
    days on market $75,000 Active 29 DOM
11. 2026-06-05
    days on market $75,000 Active 26 DOM
12. 2026-06-03
    days on market $75,000 Active 25 DOM
13. 2026-06-02
    days on market $75,000 Active 24 DOM
14. 2026-06-01
    days on market $75,000 Active 23 DOM
15. 2026-05-31
    days on market $75,000 Active 22 DOM
16. 2026-05-08
    listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $20,018
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$2,036
• Taxable income: $9,458
• Est. tax owed @ 24.0%: −$2,270
• After-tax cash flow: $7,739/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, including painting the exterior siding and updating the kitchen and bathroom. It has a good foundation and structure, and updating these areas can significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Weathered and could benefit from repainting.
• Minor Interior walls — Could use touch-up painting.
• Minor Kitchen cabinets — May need updating.
• Minor Bathroom — May need updates.
• Minor Landscaping — Could benefit from some maintenance and updates.

Value-add opportunities

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal and home value.
• Resale Updating kitchen cabinets — Modernizing the kitchen can attract more buyers.
• Resale Updating bathroom — A modern bathroom can enhance the home's appeal and value.
• Rental Landscaping maintenance — Well-maintained landscaping can attract tenants and increase rental value.
• Both Interior painting — Fresh paint can improve the home's appearance and attract both buyers and tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and could benefit from repainting.	Major	$15,000–50,000
Interior walls · Could use touch-up painting.	Minor	$500–3,000
Kitchen cabinets · May need updating.	Minor	$500–3,000
Bathroom · May need updates.	Minor	$500–3,000
Landscaping · Could benefit from some maintenance and updates.	Minor	$500–3,000
Total estimated repair cost · 5 items		$17,000–62,000

Value-add ROI direction

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal and home value. ↑
• Resale Updating kitchen cabinets — Modernizing the kitchen can attract more buyers. ↑
• Resale Updating bathroom — A modern bathroom can enhance the home's appeal and value. ↑
• Rental Landscaping maintenance — Well-maintained landscaping can attract tenants and increase rental value. ↑
• Both Interior painting — Fresh paint can improve the home's appearance and attract both buyers and tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 9,151
• Household income: $65,063
• Rent vs Own: 71.5% rent · 28.5% own
• Severe rent burden: 866.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 55% Black 30% Hispanic / Latino 6% Asian 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 7% · China, Canada, Philippines
• Languages at home: 92% English-only · Spanish 3% Chinese 2% Other Asian/Pacific 2%

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: ▼ -123.96%
• Current HPI: 316.3185
• Rent YoY: ▲ 4.69%
• 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

1 event — show timeline

• 2026-05-08 Listed $75,000 realMLS