1590 W 28th St · Jacksonville, FL 32209

$190,000

4 bd · 2.0 ba · 1,124 sqft · MultiFamily public records · 41 Days on market

Built 1953 4,791 sqft lot Est $209k · 9% under

---

Why this score? — see what drove the C- 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 +18.0/30.0
• ARV discount +11.6/15.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great investment opportunity, this in ROYAL TERRACE and is 1 of the 3 duplexes and 1 single family property (MLS# 2096554, MLS#2096567 AND MLS# 2096573) that the owner would like to sell as a package for a total of 7 units. This concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied View Documents for more information

Key facts

• Updated
• Brand-new roof
• 4,791 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• BRAND-NEW ROOF
• UPDATED

Property features AI

Exterior

• Parking: 2 parking spaces; Off-street parking with shared driveway
• Utilities: Cable available; Electricity available; Separate electric meters; Separate water meters; Sewer connected; Water available
• Home design: Duplex; Used as multi-family
• Construction: Block construction; Other roof type
• Exterior features: Back yard fencing; Cleared lot; City street frontage; Asphalt road surface

Interior

• Bedrooms: 4 bedrooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (type listed as Other); Wall/window air conditioning units
• Interior features: Multi-family duplex (two units)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive. Per door: $82/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (2.5% below list).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (+1.8%/yr); 394 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• At $1,853/mo this rent would consume 73% of the median local household income ($31k/yr) (locally 2921% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 41 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $150k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $209,064
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1552 W 35th St	0.34mi	4/2.0	1,248 (+11%)	8mo	$85,000	$68	59
1426 22nd St	0.38mi	4/2.0	1,050 (-7%)	16mo	$195,000	$186	58

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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.58×
• Total profit: $-22,461
• Equity at exit: $28,330

10-year hold

• IRR: -4.4%
• Equity multiple: 0.72×
• Total profit: $-14,744
• Equity at exit: $16,428

Cash invested: $53,200 (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 32209

• Home prices YoY: -22.1%
• Rents YoY: 1.8%
• Active inventory: 394
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $1,853 high
• Mortgage (P&I): −$996
• Tax from tax record: −$223 /mo · $2,681/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $165

Break-even live

Break-even rent $1,644

Max offer price $190,000

Occupancy floor 86%

Sensitivity live

Price	-10% $272	-5% $219	+0% $165	+5% $111	+10% $57
Rent	-10% $18	-5% $92	+0% $165	+5% $238	+10% $311
Rate	-1.0pp $261	-0.5pp $213	base $165	+0.5pp $116	+1.0pp $66

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,854
Total (2 units)			$1,853

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1636 W 28th St Jacksonville, FL	3.0	2.0	912	$1,375	$1.51	24d	1	0.06mi
1530 W 29th St Jacksonville, FL	3.0	2.0	1164	$1,385	$1.19	24d	1	0.14mi
1587 W 30th St Jacksonville, FL	3.0	1.0	1363	$1,450	$1.06	15d	1	0.14mi
1609 W 24th St Jacksonville, FL	3.0	2.0	1169	$1,223	$1.05	22d	1	0.14mi
1737 W 28th St Jacksonville, FL	3.0	1.0	1105	$700	$0.63	24d	1	0.17mi
1645 W 23rd St Unit 2 Jacksonville, FL	3.0	1.0	912	$1,275	$1.40	24d	1	0.20mi
1708 W 24th St Jacksonville, FL	3.0	2.0	1428	$1,250	$0.88	8d	1	0.21mi
1712 W 23rd St Jacksonville, FL	3.0	2.0	1200	$1,275	$1.06	24d	1	0.25mi
1830 W 27th St Jacksonville, FL	3.0	2.0	952	$1,375	$1.44	24d	1	0.26mi
1837 W 28th St Jacksonville, FL	3.0	2.0	1333	$1,600	$1.20	24d	1	0.27mi
1842 W 26th St Jacksonville, FL	3.0	2.0	933	$1,200	$1.29	24d	1	0.29mi
1839 W 30th St Jacksonville, FL	3.0	1.0	828	$1,050	$1.27	24d	1	0.30mi
1490 W 33rd St Jacksonville, FL	4.0	1.5	1150	$1,150	$1.00	24d	1	0.31mi
1863 W 29th St Jacksonville, FL	3.0	2.0	956	$1,190	$1.24	22d	1	0.32mi
1417 W 31st St Jacksonville, FL	3.0	1.0	880	$1,100	$1.25	2d	1	0.35mi
1407 W 31st St Jacksonville, FL	3.0	3.5	1140	$1,550	$1.36	24d	1	0.36mi
1431 W 21st St Jacksonville, FL	3.0	2.0	1199	$1,425	$1.19	15d	1	0.39mi
1730 W 19th St Jacksonville, FL	3.0	2.0	1323	$1,100	$0.83	2d	1	0.44mi
1288 W 28th St Jacksonville, FL	4.0	1.5	1449	$1,267	$0.87	14d	1	0.44mi
1968 W 23rd St Unit Main Jacksonville, FL	3.0	2.0	1106	$1,400	$1.27	22d	1	0.46mi
1410 W 20th St Jacksonville, FL	3.0	2.0	1170	$1,485	$1.27	14d	1	0.47mi
1971 W 22nd St Jacksonville, FL	3.0	1.0	1094	$1,095	$1.00	8d	1	0.47mi
1220 W 28th St Jacksonville, FL	3.0	1.0	1122	$1,299	$1.16	24d	1	0.53mi
1201 W 27th St Jacksonville, FL	3.0	2.0	1120	$1,145	$1.02	24d	1	0.56mi
1525 W 15th St Jacksonville, FL	3.0	1.0	1100	$1,245	$1.13	24d	1	0.57mi
4813 Moncrief Rd Jacksonville, FL	2.0–3.0	1.0	755	$920	$1.22	3d	8	0.58mi
1173 W 27th St Jacksonville, FL	3.0	1.0	1080	$1,145	$1.06	14d	1	0.61mi
1149 W 28th St Jacksonville, FL	4.0	2.0	1344	$1,302	$0.97	24d	1	0.63mi
1867 W 41st St Jacksonville, FL	3.0	2.0	1218	$1,325	$1.09	18d	1	0.67mi
2312 Fairfax St Jacksonville, FL	3.0	1.0	726	$650	$0.90	18d	1	0.68mi
2306 Fairfax St Unit 1 Jacksonville, FL	3.0	1.0	900	$700	$0.78	24d	1	0.69mi
5350 Dodge Rd Jacksonville, FL	3.0	1.0	1000	$1,500	$1.50	24d	1	0.71mi
2904 Moncrief Rd Jacksonville, FL	3.0	1.0	952	$1,100	$1.16	24d	1	0.71mi
2604 McMillan St Jacksonville, FL	3.0	1.0	912	$1,100	$1.21	22d	1	0.73mi
5352 Dodge Rd Jacksonville, FL	3.0	2.0	1050	$1,261	$1.20	24d	1	0.73mi
1823 W 44th St Jacksonville, FL	3.0	2.0	1066	$1,500	$1.41	24d	1	0.77mi
1031 W 26th St Jacksonville, FL	3.0	2.0	1261	$1,445	$1.15	24d	1	0.78mi
1029 W 25th St Jacksonville, FL	5.0	2.0	800	$2,200	$2.75	11d	1	0.79mi
1029 W 25th St Unit 1 Jacksonville, FL	5.0	2.0	1410	$2,200	$1.56	24d	1	0.79mi
1025 W 25th St Unit 1 Jacksonville, FL	5.0	2.0	1500	$2,000	$1.33	24d	1	0.80mi

Listing history 27 events

1. 2026-06-18
   days on market $190,000 Active 41 DOM
2. 2026-06-17
   days on market $190,000 Active 40 DOM
3. 2026-06-16
   days on market $190,000 Active 39 DOM
4. 2026-06-15
   days on market $190,000 Active 38 DOM
5. 2026-06-13
   days on market $190,000 Active 35 DOM
6. 2026-06-10
   days on market $190,000 Active 32 DOM
7. 2026-06-08
   days on market $190,000 Active 31 DOM
8. 2026-06-07
   days on market $190,000 Active 30 DOM
9. 2026-06-05
   days on market $190,000 Active 27 DOM
10. 2026-06-03
    days on market $190,000 Active 26 DOM
11. 2026-06-02
    days on market $190,000 Active 25 DOM
12. 2026-06-01
    days on market $190,000 Active 24 DOM
13. 2026-05-31
    days on market $190,000 Active 23 DOM
14. 2026-05-04
    listed $190,000 Active
15. 2025-12-25
    historical 411-char remark

    Show marketing remark (411 chars)

    Great investment opportunity, this in ROYAL TERRACE and is 1 of the 3 duplexes and 1 single family property (MLS# 2096554, MLS#2096567 AND MLS# 2096573) that the owner would like to sell as a package for a total of 7 units. This concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied View Documents for more information

16. 2025-09-23
    price $190,000 411-char remark

    Show marketing remark (411 chars)

    Great investment opportunity, this in ROYAL TERRACE and is 1 of the 3 duplexes and 1 single family property (MLS# 2096554, MLS#2096567 AND MLS# 2096573) that the owner would like to sell as a package for a total of 7 units. This concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied View Documents for more information

17. 2025-06-27
    listed $200,000 Active 411-char remark

    Show marketing remark (411 chars)

    Great investment opportunity, this in ROYAL TERRACE and is 1 of the 3 duplexes and 1 single family property (MLS# 2096554, MLS#2096567 AND MLS# 2096573) that the owner would like to sell as a package for a total of 7 units. This concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied View Documents for more information

18. 2023-12-14
    historical $850
19. 2023-10-11
    listed $850
20. 2023-03-17
    soldstatus $150,000
21. 2023-03-15
    soldstatus $150,000 Sold 263-char remark

    Show marketing remark (263 chars)

    Great investment opportunity in ROYAL TERRACE! This renovated concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied collecting over 16k per year! This one won't last long!

22. 2023-01-15
    status Pending 263-char remark

    Show marketing remark (263 chars)

    Great investment opportunity in ROYAL TERRACE! This renovated concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied collecting over 16k per year! This one won't last long!

23. 2022-12-22
    listed $179,000 Active 263-char remark

    Show marketing remark (263 chars)

    Great investment opportunity in ROYAL TERRACE! This renovated concrete block duplex features several updates in 2021 including New Roof and Plumbing/Sewer! Currently professionally managed and fully occupied collecting over 16k per year! This one won't last long!

24. 2014-05-22
    soldstatus $22,000
25. 2013-09-12
    listed $15,850
26. 2007-06-07
    soldstatus $60,500
27. 1980-07-01
    soldstatus $14,500

ⓘ 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: $2,681 · $223/mo
• Projected year-2 tax: $2,681 · $223/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 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,236
• − Mortgage interest: −$10,643
• − Property taxes: −$2,681
• − Insurance: −$950
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − Depreciation: −$5,527
• Taxable loss: −$1,123
• Est. tax savings @ 24.0%: +$270
• After-tax cash flow: $2,248/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): 34,657
• Household income: $30,514
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2921.0

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 Black (88%)
• Race & ethnicity: Black 88% White 5% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4% 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: ▼ -53.92%
• Current HPI: 189.5977
• Rent YoY: ▲ 1.81%
• 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

+1210.3% since first listed

14 events — show timeline

• 2026-05-04 Listed $190,000 realMLS
• 2025-12-25 Listing Removed — realMLS
• 2025-09-23 Price Changed $190,000 realMLS
• 2025-06-27 Listed $200,000 realMLS
• 2023-12-14 Rental Removed $850 APPFOLIO
• 2023-10-11 Listed for Rent $850 APPFOLIO
• 2023-03-17 Sold (Public Records) $150,000 Public Records
• 2023-03-15 Sold (MLS) $150,000 realMLS
• 2023-01-15 Pending — realMLS
• 2022-12-22 Listed $179,000 realMLS
• 2014-05-22 Sold (Public Records) $22,000 Public Records
• 2013-09-12 Listed $15,850 realMLS
• 2007-06-07 Sold (Public Records) $60,500 Public Records
• 1980-07-01 Sold (Public Records) $14,500 Public Records

Property tax history

+12.8%/yr

Latest (2025): $2,681 · +21.7% YoY. Source: county tax records.