1028 Legay Ave · Jacksonville, FL 32205

$200,000

3 bd · 2.0 ba · 1,174 sqft · SingleFamily public records · 22 Days on market

Built 1956 9,147 sqft lot Est $188k · 6% over ↓ 7% since listing

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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).

• Cash flow +11.9/30.0
• ARV discount +4.6/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming midcentury modern block home. Recent updates include new HVAC 2021, plumbing updated to PEX throughout, stainless steel refrigerator, range & vent hood, and new roof all updated in 2022. All appliances stay! Three full bedrooms, two full baths with new toilets. A large den with private access from the carport and back. The covered back patio is perfect for an outdoor kitchen and overlooks an enormous fenced in back yard with a shed/workshop for hobbies or storage. Utility room and more storage are off the carport. This home is conveniently located near shopping and amenities, I-295 and I-10.

Key facts

• 9,147 sq ft lot
• Parking
• Built 1956

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-50 ($-599/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (16.4% below list).
• Recommended offer: $167k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Zoned schools: Ramona Boulevard Elementary School (math 27% / reading 22%, grade F, #2,037 of 2,144 statewide, top 96%, 288 students, 88% FRL); Westside Middle School (math 25% / reading 22%, grade F, #536 of 571 statewide, top 95%, 593 students, 70% FRL); Edward H. White High School (math 31% / reading 25%, grade F, #464 of 667 statewide, top 70%, 1,538 students, 64% FRL) — zoned schools average 74% FRL vs 49% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% 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 (+1.7%/yr); 320 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 22 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $167,110 (16.4% 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. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.84% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $187,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1133 Le Brun Dr	0.12mi	3/2.0	1,222 (+4%)	2mo	$170,000	$139	86
1101 Mantes Ave	0.12mi	3/1.0	1,165 (-1%)	4mo	$118,000	$101	86
7037 Cherbourg Ave N	0.10mi	4/2.0 (+1)	1,152 (-2%)	9mo	$220,000	$191	80
6755 Calvados Ave	0.18mi	3/2.0	1,238 (+6%)	4mo	$228,000	$184	79
6928 Arques Rd	0.13mi	3/1.5	1,268 (+8%)	2mo	$110,000	$87	77
6734 Cherbourg Ave	0.26mi	3/1.0	1,050 (-11%)	3mo	$168,000	$160	64
909 La Marche Dr	0.21mi	3/1.0	1,326 (+13%)	3mo	$147,000	$111	62
815 La Marche Dr	0.28mi	3/1.0	1,040 (-11%)	7mo	$103,000	$99	58
1144 Crown Dr	0.73mi	3/2.0	1,260 (+7%)	1mo	$235,000	$187	53
7641 Rolling Hills Dr	0.67mi	3/2.0	1,262 (+8%)	6mo	$140,000	$111	51
791 Westgate Dr	0.72mi	3/2.0	1,066 (-9%)	1mo	$228,000	$214	50
7446 S Skye Dr	0.66mi	4/2.0 (+1)	1,323 (+13%)	6mo	$245,000	$185	38

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 · 1.73% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.33×
• Total profit: $-37,676
• Equity at exit: $29,821

10-year hold

• IRR: -15.0%
• Equity multiple: 0.19×
• Total profit: $-45,261
• Equity at exit: $17,292

Cash invested: $56,000 (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 32205

• Rents YoY: 1.7%
• Active inventory: 320
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$238 /mo · $2,855/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-50

Break-even live

Break-even rent $1,734

Max offer price $191,189

Occupancy floor 98%

Sensitivity live

Price	-10% $63	-5% $7	+0% $-50	+5% $-106	+10% $-163
Rent	-10% $-182	-5% $-116	+0% $-50	+5% $16	+10% $82
Rate	-1.0pp $51	-0.5pp $1	base $-50	+0.5pp $-102	+1.0pp $-154

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7010 Arques Rd Jacksonville, FL	3.0	1.0	1428	$1,595	$1.12	14d	1	0.13mi
7010 Arques Rd Jacksonville, FL	3.0	1.0	1428	$1,595	$1.12	12d	1	0.13mi
909 La Marche Dr Jacksonville, FL	3.0	1.0	1326	$1,600	$1.21	21d	1	0.23mi
6781 Grace Ln Jacksonville, FL	4.0	3.0	1296	$2,300	$1.77	24d	1	0.40mi
909 Westgate Dr Jacksonville, FL	3.0	1.5	1051	$1,595	$1.52	5d	1	0.56mi
863 Westgate Dr Jacksonville, FL	3.0	2.0	1287	$1,800	$1.40	18d	1	0.62mi
1443 Winnebago Ave #1 Jacksonville, FL	2.0	1.0	800	$1,025	$1.28	24d	1	0.68mi
1116 Palisades Dr Jacksonville, FL	3.0	2.0	1161	$1,550	$1.34	3d	1	0.76mi
1465 Manotak Point Dr #105 Jacksonville, FL	2.0	2.0	940	$1,295	$1.38	18d	1	0.85mi
1570 Lane Ave S Jacksonville, FL	1.0–2.0	1.0–1.5	862	$1,425	$1.65	3d	10	0.95mi
6128 Hollow Ct Key Hollow Jacksonville, FL	3.0	3.0	1492	$1,800	$1.21	24d	1	1.04mi
6117 Hollow Ct Key Hollow Jacksonville, FL	3.0	2.0	1044	$1,449	$1.39	8d	1	1.05mi
7777 Normandy Blvd Jacksonville, FL	1.0–3.0	1.0–2.0	1040	$1,999	$1.92	4d	19	1.05mi
5710 Lenox Ave Jacksonville, FL	1.0–4.0	1.0–2.0	988	$1,299	$1.31	24d	1	1.10mi
6161 Park St Jacksonville, FL	3.0	2.0	1209	$1,473	$1.22	17d	1	1.12mi
1406 Ellis Trace Dr W Jacksonville, FL	2.0	1.5	1028	$1,200	$1.17	17d	1	1.12mi
1485 Fouraker Rd Jacksonville, FL	1.0–3.0	1.0–2.0	947	$1,965	$2.07	3d	55	1.14mi
5687 Atlee Ave Jacksonville, FL	3.0	1.0	1130	$1,350	$1.19	24d	1	1.17mi
8054 Graff Ln Jacksonville, FL	3.0	2.0	1117	$1,699	$1.52	2d	1	1.18mi
5671 Ellis Trace Dr Jacksonville, FL	3.0	2.0	1197	$1,595	$1.33	24d	1	1.20mi
740 Ernona St Jacksonville, FL	2.0	1.0	800	$1,200	$1.50	8d	1	1.21mi
5647 Ellis Trace Dr Jacksonville, FL	3.0	2.0	1200	$1,595	$1.33	15d	1	1.23mi
1591 Lane Ave S Jacksonville, FL	1.0–3.0	1.0–2.0	954	$1,485	$1.56	24d	1	1.23mi
214 Santa Barbara Ave Jacksonville, FL	3.0	2.0	1127	$1,308	$1.16	15d	1	1.23mi
5614 Atlee Ave Jacksonville, FL	3.0	1.0	750	$1,350	$1.80	24d	1	1.25mi
5616 Atlee Ave Jacksonville, FL	3.0	1.0	800	$1,150	$1.44	24d	1	1.25mi
6037 Marsha Dr Jacksonville, FL	3.0	1.0	1296	$1,250	$0.96	15d	1	1.25mi
1756 Lane Ave S Unit 1 Jacksonville, FL	3.0	2.0	1254	$1,399	$1.12	8d	1	1.28mi
7841 Mariner St Jacksonville, FL	3.0	2.0	1209	$1,625	$1.34	18d	1	1.32mi
7847 Mariner St Jacksonville, FL	3.0	2.0	1209	$1,599	$1.32	24d	1	1.32mi
7810 Spring Branch Dr S Jacksonville, FL	3.0	2.0	1284	$1,960	$1.53	2d	1	1.37mi
8054 Paschal St Jacksonville, FL	4.0	1.0	1192	$1,850	$1.55	24d	1	1.42mi
1303 Mull St Jacksonville, FL	3.0	2.5	1409	$1,725	$1.22	24d	1	1.45mi
1335 Mull St Jacksonville, FL	3.0	2.5	1409	$1,725	$1.22	24d	1	1.47mi
8311 Santman Ct Jacksonville, FL	3.0	2.0	1268	$1,400	$1.10	24d	1	1.48mi
1374 Lake Shore Blvd Jacksonville, FL	4.0	2.0	1456	$2,150	$1.48	8d	2	1.48mi
1130 Comanche St Unit 402 Jacksonville, FL	2.0	1.0	763	$1,090	$1.43	24d	1	1.49mi

Listing history 11 events

1. 2026-02-20
   status Pending
2. 2026-01-29
   listed $200,000 Active
3. 2025-09-30
   historical $1,695
4. 2025-08-30
   price $1,695
5. 2025-08-13
   historical 611-char remark

   Show marketing remark (611 chars)

   Charming midcentury modern block home. Recent updates include new HVAC 2021, plumbing updated to PEX throughout, stainless steel refrigerator, range & vent hood, and new roof all updated in 2022. All appliances stay! Three full bedrooms, two full baths with new toilets. A large den with private access from the carport and back. The covered back patio is perfect for an outdoor kitchen and overlooks an enormous fenced in back yard with a shed/workshop for hobbies or storage. Utility room and more storage are off the carport. This home is conveniently located near shopping and amenities, I-295 and I-10.

6. 2025-08-13
   listed $1,750

   Show marketing remark (611 chars)

   Charming midcentury modern block home. Recent updates include new HVAC 2021, plumbing updated to PEX throughout, stainless steel refrigerator, range & vent hood, and new roof all updated in 2022. All appliances stay! Three full bedrooms, two full baths with new toilets. A large den with private access from the carport and back. The covered back patio is perfect for an outdoor kitchen and overlooks an enormous fenced in back yard with a shed/workshop for hobbies or storage. Utility room and more storage are off the carport. This home is conveniently located near shopping and amenities, I-295 and I-10.

7. 2025-06-09
   price $229,900 611-char remark

   Show marketing remark (611 chars)

   Charming midcentury modern block home. Recent updates include new HVAC 2021, plumbing updated to PEX throughout, stainless steel refrigerator, range & vent hood, and new roof all updated in 2022. All appliances stay! Three full bedrooms, two full baths with new toilets. A large den with private access from the carport and back. The covered back patio is perfect for an outdoor kitchen and overlooks an enormous fenced in back yard with a shed/workshop for hobbies or storage. Utility room and more storage are off the carport. This home is conveniently located near shopping and amenities, I-295 and I-10.

8. 2025-03-14
   listed $235,000 Active 611-char remark

   Show marketing remark (611 chars)

   Charming midcentury modern block home. Recent updates include new HVAC 2021, plumbing updated to PEX throughout, stainless steel refrigerator, range & vent hood, and new roof all updated in 2022. All appliances stay! Three full bedrooms, two full baths with new toilets. A large den with private access from the carport and back. The covered back patio is perfect for an outdoor kitchen and overlooks an enormous fenced in back yard with a shed/workshop for hobbies or storage. Utility room and more storage are off the carport. This home is conveniently located near shopping and amenities, I-295 and I-10.

9. 2022-05-20
   soldstatus $220,000 Sold 355-char remark

   Show marketing remark (355 chars)

   MULTIPLE OFFERS: HIGHEST AND BEST DUE BY 3/27/22 AT 5PM. Move In Ready 3 bedroom 2 bath concrete block home located in the convenient Normandy area. Impeccably clean and well taken care of. Open family and dining space and separate den. Large fenced in yard with a storage shed. A great starter home or even an investment. This one will not last long!

10. 2022-03-29
    status Pending 355-char remark

    Show marketing remark (355 chars)

    MULTIPLE OFFERS: HIGHEST AND BEST DUE BY 3/27/22 AT 5PM. Move In Ready 3 bedroom 2 bath concrete block home located in the convenient Normandy area. Impeccably clean and well taken care of. Open family and dining space and separate den. Large fenced in yard with a storage shed. A great starter home or even an investment. This one will not last long!

11. 2022-03-23
    listed $215,000 Active 355-char remark

    Show marketing remark (355 chars)

    MULTIPLE OFFERS: HIGHEST AND BEST DUE BY 3/27/22 AT 5PM. Move In Ready 3 bedroom 2 bath concrete block home located in the convenient Normandy area. Impeccably clean and well taken care of. Open family and dining space and separate den. Large fenced in yard with a storage shed. A great starter home or even an investment. This one will not last long!

ⓘ 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: $2,855 · $238/mo
• Projected year-2 tax: $2,855 · $238/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 2/10 Low
• 🌡 Heat 8/10 Severe 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,053
• − Mortgage interest: −$11,203
• − Property taxes: −$2,855
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$5,818
• Taxable loss: −$4,031
• Est. tax savings @ 24.0%: +$968
• After-tax cash flow: $369/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): 29,148
• Household income: $64,789
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1398.0

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 0.59)
• Race & ethnicity: White 59% Black 21% Hispanic / Latino 11% Two or more races 7% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 4% Cuban 1%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 8% · Canada, Vietnam, Dominican Republic
• Languages at home: 88% English-only · Spanish 8% Vietnamese 1% French/Haitian/Cajun 1%

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: ▼ -386.70%
• Current HPI: 310.4566
• Rent YoY: ▲ 1.73%
• 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

-7.0% since first listed

11 events — show timeline

• 2026-02-20 Pending — realMLS
• 2026-01-29 Listed $200,000 realMLS
• 2025-09-30 Rental Removed $1,695 NEFLMLS
• 2025-08-30 Price Changed $1,695 NEFLMLS
• 2025-08-13 Listing Removed — realMLS
• 2025-08-13 Listed for Rent $1,750 NEFLMLS
• 2025-06-09 Price Changed $229,900 realMLS
• 2025-03-14 Listed $235,000 realMLS
• 2022-05-20 Sold (MLS) $220,000 realMLS
• 2022-03-29 Pending — realMLS
• 2022-03-23 Listed $215,000 realMLS

Property tax history

+22.3%/yr

Latest (2025): $2,855 · +9.1% YoY. Source: county tax records.