3526 Sheldrake Dr · Jacksonville, FL 32223

$234,900

3 bd · 2.0 ba · 1,769 sqft · SingleFamily public records · 6 Days on market

Built 1987 0.30 ac lot Est $377k · 38% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.7/30.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Schools +3.9/10.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4/2 Pool Home located in nice neighborhood in Mandarin. Split floor plan. Needs renovations. CASH ONLY! SELLERS TO MAKE NO REPAIRS.

Key facts

• Screened porch
• Overlooks a lake
• In ground pool

Tags

• SCREENED PORCH
• IN GROUND POOL
• OVERLOOKS A LAKE

Property features AI

Finance

• HOA & community: Not a senior community

Exterior

• Parking: Garage; 2-car garage
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; One level
• Construction: Wood siding
• Exterior features: Patio; Screened porch; Lake front property; City street frontage; Asphalt road

Interior

• Kitchen: No appliances included
• Bedrooms: 4 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Kitchen island; Wood burning fireplace (1)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (11.1% below list).
• Recommended offer: $209k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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 falling (-3.4%/yr); 122 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $181k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $208,784 (11.1% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $376,797
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11923 Marabou Ct S	0.05mi	3/2.0	1,783 (+1%)	7mo	$355,000	$199	90
11850 Tumbling Oaks Ln	0.14mi	3/2.0	1,828 (+3%)	1mo	$365,000	$200	87
3563 Lazy Willow Ct	0.35mi	3/2.0	1,647 (-7%)	1mo	$360,100	$219	72
11531 Knobby Way	0.59mi	3/2.0	1,685 (-5%)	1mo	$390,000	$231	64
12157 Cheyenne Trl	0.51mi	3/2.0	1,886 (+7%)	2mo	$455,000	$241	64
3382 Cheyenne Ln	0.34mi	3/2.0	1,962 (+11%)	3mo	$325,000	$166	63
11530 W Ride Dr	0.48mi	3/2.0	1,636 (-8%)	8mo	$330,000	$202	59
3603 North Ride Dr	0.57mi	4/2.0 (+1)	1,870 (+6%)	1mo	$270,000	$144	58
11851 Pegasus Dr	0.31mi	3/2.0	2,023 (+14%)	8mo	$495,000	$245	55
11562 W Ride Dr	0.41mi	3/2.0	1,538 (-13%)	5mo	$358,000	$233	54
3882 Habersham Forest Dr	0.72mi	3/2.0	1,849 (+4%)	7mo	$302,000	$163	53
11958 Swooping Willow Rd	0.74mi	3/2.0	1,598 (-10%)	2mo	$340,000	$213	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.22×
• Total profit: $-51,050
• Equity at exit: $35,024

10-year hold

• IRR: -30.2%
• Equity multiple: -0.16×
• Total profit: $-76,624
• Equity at exit: $20,310

Cash invested: $65,772 (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 32223

• Rents YoY: -3.4%
• Active inventory: 122
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$429 /mo · $5,152/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $-110

Break-even live

Break-even rent $2,227

Max offer price $215,533

Occupancy floor —

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3372 Mandarin Glen Cir S Jacksonville, FL	3.0	2.0	1296	$1,800	$1.39	7d	1	0.63mi
3139 Mountain Ash Rd E Jacksonville, FL	3.0	2.0	1801	$2,300	$1.28	10d	1	0.70mi
3083 Marbon Estates Ln S Jacksonville, FL	3.0	2.0	1601	$2,299	$1.44	23d	1	0.90mi
11325 McNichols Ct Jacksonville, FL	3.0	2.0	1865	$2,375	$1.27	7d	1	0.91mi
3910 Karissa Ann Pl E Jacksonville, FL	3.0	2.0	1405	$2,250	$1.60	14d	1	0.96mi
3990 Clearwater Ln Jacksonville, FL	2.0	2.0	1914	$1,995	$1.04	23d	1	0.98mi
3990 Clearwater Ln Jacksonville, FL	2.0	2.0	1914	$1,995	$1.04	14d	1	0.98mi
11247 San Jose Blvd Jacksonville, FL	1.0–3.0	1.0–2.0	1109	$1,797	$1.62	1d	11	1.00mi
3900 Oldfield Crossing Dr Jacksonville, FL	1.0–3.0	1.0–2.0	1107	$1,828	$1.65	1d	24	1.01mi
12397 San Jose Blvd Jacksonville, FL	1.0–3.0	1.0–2.0	1095	$2,569	$2.35	2d	21	1.18mi
12604 Condor Dr Jacksonville, FL	4.0	2.0	1386	$2,000	$1.44	23d	1	1.30mi
12637 Condor Dr Jacksonville, FL	3.0	2.0	1245	$2,250	$1.81	23d	1	1.31mi

Listing history 9 events

1. 2026-05-22
   listed $234,900 Active
2. 2019-08-25
   historical 132-char remark

   Show marketing remark (132 chars)

   4/2 Pool Home located in nice neighborhood in Mandarin. Split floor plan. Needs renovations. CASH ONLY! SELLERS TO MAKE NO REPAIRS.

3. 2019-08-25
   listed $185,000 Active 132-char remark

   Show marketing remark (132 chars)

   4/2 Pool Home located in nice neighborhood in Mandarin. Split floor plan. Needs renovations. CASH ONLY! SELLERS TO MAKE NO REPAIRS.

4. 2004-05-25
   soldstatus $181,000
5. 2004-05-10
   soldstatus $181,000 392-char remark

   Show marketing remark (392 chars)

   BEAUTIFULLY MAINTAINED HOME WITH MARVELOUS MANDARIN LOCATION! FOUR BEDROOMS, TWO BATHS, SCREENED PORCH WITH TILE FLOOR OVERLOOKS SPARKLING POOL AND VERY LARGE NATURAL LAKE TEEMING WITH FISH AND TURTLES. A PADDLE BOAT STAYS WITH THE PROPERTY FOR QUIET CRUISES ON THE LAKE. LARGE STORAGE SHED, TERMITE BOND WITH SENTRICON, IRRIGATION WELL & SPRINKLER SYSTEM. AC NEW IN 2002. SHOW AND SELL!!

6. 2004-03-29
   listed $184,900 392-char remark

   Show marketing remark (392 chars)

   BEAUTIFULLY MAINTAINED HOME WITH MARVELOUS MANDARIN LOCATION! FOUR BEDROOMS, TWO BATHS, SCREENED PORCH WITH TILE FLOOR OVERLOOKS SPARKLING POOL AND VERY LARGE NATURAL LAKE TEEMING WITH FISH AND TURTLES. A PADDLE BOAT STAYS WITH THE PROPERTY FOR QUIET CRUISES ON THE LAKE. LARGE STORAGE SHED, TERMITE BOND WITH SENTRICON, IRRIGATION WELL & SPRINKLER SYSTEM. AC NEW IN 2002. SHOW AND SELL!!

7. 1997-07-03
   soldstatus $107,000
8. 1991-07-01
   soldstatus $103,500
9. 1988-04-01
   soldstatus $82,500

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $5,152 · $429/mo
• Projected year-2 tax: $5,152 · $429/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,054
• − Mortgage interest: −$13,158
• − Property taxes: −$5,152
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$6,833
• Taxable loss: −$5,272
• Est. tax savings @ 24.0%: +$1,265
• After-tax cash flow: $-50/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.

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): 26,160
• Household income: $95,347
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 380.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Two or more races 11% Hispanic / Latino 9% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Italian 6% Slovak 3% Romanian 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 2% Arabic 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: ▼ -254.71%
• Current HPI: 296.3365
• Rent YoY: ▼ -3.38%
• 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

+184.7% since first listed

9 events — show timeline

• 2026-05-22 Listed $234,900 realMLS
• 2019-08-25 Listed $185,000 realMLS
• 2019-08-25 Listing Removed — realMLS
• 2004-05-25 Sold (Public Records) $181,000 Public Records
• 2004-05-10 Sold (MLS) $181,000 realMLS
• 2004-03-29 Listed $184,900 realMLS
• 1997-07-03 Sold (Public Records) $107,000 Public Records
• 1991-07-01 Sold (Public Records) $103,500 Public Records
• 1988-04-01 Sold (Public Records) $82,500 Public Records

Property tax history

+9.7%/yr

Latest (2025): $5,152 · +6.4% YoY. Source: county tax records.