9380 103rd St #39

Jacksonville, FL 32210

$44,900B-

3 bd · 2.0 ba · 1,056 sqft · Built 2026 · Manufactured · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,211/mo
• Mortgage (P&I): −$235
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $647/mo
• Annual: $7,759/yr
• Cap rate: 23.57%
• Cash-on-cash: 61.71%
• DSCR: 3.75
• 1% rule: 2.70%
• Cash to close: $12,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $45k. Condition is rated fair.
• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• It's been on market 16 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k 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); 568 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals lingering (median 36d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.6% 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen countertops and cabinets — The countertops and cabinets are visibly worn and need replacement.
• Major: Bathroom fixtures and tiles — The fixtures and tiles are dated and need updating.
• Major: Flooring — The flooring is worn and may need replacement.
• Major: Interior walls and paint — The walls show signs of wear and the paint is faded.
• Major: Exterior siding and painting — The siding shows signs of wear and may need repainting or replacement.
• Major: Windows — The windows appear old and may need replacement or caulking.