5718 Merrill Rd · Jacksonville, FL 32277

$589,500

12 bd · 4.0 ba · 3,808 sqft · MultiFamily public records · 8 Days on market

Built 1958 8,712 sqft lot Est $579k · at est. ↓ 16% since listing

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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 +22.0/30.0
• DSCR +7.0/10.0
• ARV discount +6.7/15.0
• 1% rule +5.2/10.0
• 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: 4 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

4 units , 3/1 apartments ,2023 Roof and electrical panels in each unit. Great income potential for investors , 4 electrical meters only one water meter .Concrete block construction with a Large backyard for more parking. One Block from Jacksonville University , ETC , Prime Location

Key facts

• Large backyard
• Prime location
• 8,712 sq ft lot

Tags

• ROOF AND ELECTRICAL PANELS
• CONCRETE BLOCK CONSTRUCTION
• LARGE BACKYARD
• PRIME LOCATION

Property features AI

Finance

• Financial info: Annual tax (2024) available

Exterior

• Parking: 12 garage spaces; Has garage; Other parking features
• Utilities: 100 Amp electric service; Septic tank sewer; Electricity connected; Water connected
• Home design: Quadruplex (attached property); 2-story building; 1 building
• Construction: Concrete construction
• Exterior features: Shingle roof; City street frontage; Asphalt road surface; Lot features: Other

Interior

• Kitchen: Electric oven; Refrigerator; Electric water heater
• Bedrooms: 12 bedrooms
• Bathrooms: 4 full bathrooms
• Heating & cooling: Has heating (type: Other); Split system cooling
• Interior features: Multi-family use; Washer hookup; Electric dryer hookup
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1-bath units multifamily listed at $590k.

Deal economics

• At list price, monthly cash flow is $938 ($11k/yr) — positive. Per door: $235/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $590k).
• Cap rate 8.2% 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 (+1.9%/yr); 118 active listings in the ZIP; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• At $6,001/mo this rent would consume 117% of the median local household income ($62k/yr) (locally 2550% 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 $4k of loan paydown is wiped out by about $18k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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 1958 — 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 $589,500

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1958 — 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 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: 1.02% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $578,816
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5718 Merrill Rd	0.00mi	12/4.0	3,808 (0%)	0mo	$580,000	$152	100

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 · 1.94% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-42,172
• Equity at exit: $87,896

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $14,481
• Equity at exit: $50,969

Cash invested: $165,060 (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 32277

• Rents YoY: 1.9%
• Active inventory: 118
• Price-to-rent: 32.7×

Monthly cashflow live

• Estimated rent: $6,001 high
• Mortgage (P&I): −$3,091
• Tax from tax record: −$465 /mo · $5,585/yr
• Insurance: −$246
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $938

Break-even live

Break-even rent $4,813

Max offer price $589,500

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1	$6,000
Total (4 units)			$6,001

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: $147,375
• Closing costs: $17,685
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-07
   status Pending
2. 2026-04-29
   listed $589,500 Active
3. 2025-09-18
   status Pending 283-char remark

   Show marketing remark (283 chars)

   4 units , 3/1 apartments ,2023 Roof and electrical panels in each unit. Great income potential for investors , 4 electrical meters only one water meter .Concrete block construction with a Large backyard for more parking. One Block from Jacksonville University , ETC , Prime Location

4. 2025-09-18
   historical 283-char remark

   Show marketing remark (283 chars)

   4 units , 3/1 apartments ,2023 Roof and electrical panels in each unit. Great income potential for investors , 4 electrical meters only one water meter .Concrete block construction with a Large backyard for more parking. One Block from Jacksonville University , ETC , Prime Location

5. 2025-06-20
   listed $590,000 Active 283-char remark

   Show marketing remark (283 chars)

   4 units , 3/1 apartments ,2023 Roof and electrical panels in each unit. Great income potential for investors , 4 electrical meters only one water meter .Concrete block construction with a Large backyard for more parking. One Block from Jacksonville University , ETC , Prime Location

6. 2025-05-03
   historical 398-char remark

   Show marketing remark (398 chars)

   4 units , 3/1 apartments ,2023 Roof and electrical panels in each unit. Great income potential for investors , each unit rented $1500 per month , 4 electrical meters only one water meter , water is approx. $100 per month the tenant pay $25 each one to cover water . Concrete block construction with a Large backyard for more parking. One Block from Jacksonville University , ETC , Prime Location

7. 2025-04-03
   listed $590,000 Active 398-char remark

   Show marketing remark (398 chars)

   4 units , 3/1 apartments ,2023 Roof and electrical panels in each unit. Great income potential for investors , each unit rented $1500 per month , 4 electrical meters only one water meter , water is approx. $100 per month the tenant pay $25 each one to cover water . Concrete block construction with a Large backyard for more parking. One Block from Jacksonville University , ETC , Prime Location

8. 2023-09-23
   historical
9. 2023-08-03
   status Active
10. 2023-07-24
    historical
11. 2023-05-22
    listed $700,000 Active

ⓘ 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: $5,585 · $465/mo
• Projected year-2 tax: $5,585 · $465/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 7 d/yr ≥106°F today · 20 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: $72,012
• − Mortgage interest: −$33,021
• − Property taxes: −$5,585
• − Insurance: −$2,948
• − Repairs & maintenance: −$5,761
• − Management: −$5,761
• − Depreciation: −$17,149
• Taxable income: $1,787
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $10,831/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): 36,338
• Household income: $61,554
• Rent vs Own: 49.1% rent · 50.9% own
• Severe rent burden: 2550.0

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 0.68)
• Race & ethnicity: White 41% Black 36% Hispanic / Latino 16% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Cuban 4%
• Common ancestry: Hispanic 5% Slovak 2% Lithuanian 1%
• Foreign-born: 15% · Canada, Jamaica, Vietnam
• Languages at home: 80% English-only · Spanish 10% French/Haitian/Cajun 4% Russian/Polish/Slavic 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: ▼ -180.79%
• Current HPI: 289.4062
• Rent YoY: ▲ 1.94%
• 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

-15.8% since first listed

11 events — show timeline

• 2026-05-07 Pending — realMLS
• 2026-04-29 Listed $589,500 realMLS
• 2025-09-18 Pending — realMLS
• 2025-09-18 Listing Removed — realMLS
• 2025-06-20 Listed $590,000 realMLS
• 2025-05-03 Listing Removed — realMLS
• 2025-04-03 Listed $590,000 realMLS
• 2023-09-23 Listing Removed — realMLS
• 2023-08-03 Relisted — realMLS
• 2023-07-24 Listing Removed — realMLS
• 2023-05-22 Listed $700,000 realMLS

Property tax history

+6.7%/yr

Latest (2025): $5,585 · +13.5% YoY. Source: county tax records.