1805 Perry Pl · Jacksonville, FL 32207

$645,000

4 bd · 3.0 ba · 1,878 sqft · MultiFamily public records · 41 Days on market

Built 1918 5,662 sqft lot

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Why this score? — see what drove the F 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 +7.7/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 1% rule +1.5/10.0
• 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

RARE INVESTMENT OPPORTUNITY in the Heart of San Marco! Don't miss this exceptional chance to own a fully occupied, income-producing 4-unit property in one of Jacksonville's most sought-after historic neighborhoods. Offering a unique blend of timeless charm, strong rental history, and future upside potential, this property is ideal for investors looking to expand their portfolio in a high-demand location. The property features a spacious lower-level 2-bedroom, 1-bath apartment complete with private laundry and a cozy fireplace, an additional lower-level 1-bedroom unit, an upstairs studio apartment, and a detached 1-bedroom studio apartment. Each residence showcases distinctive character with

Key facts

• Income producing
• Fully occupied
• 5,662 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• FULLY OCCUPIED
• INCOME PRODUCING
• HISTORIC NEIGHBORHOODS
• STRONG RENTAL HISTORY
• FUTURE UPSIDE POTENTIAL

Property features AI

Finance

• Financial info: Offered as a multi-family investment (quadruplex)

Exterior

• Parking: Additional off-street parking
• Utilities: Public sewer; Cable available; Electricity connected; Sewer connected; Water connected
• Home design: Quadruplex (multi-family investment); Two stories; Property attached
• Construction: Shingle roof; 2 buildings on the parcel
• Exterior features: Courtyard; Back yard; Corner lot; City street frontage; Asphalt road surface

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 5 bedrooms
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Electric cooling; Wall/window AC units
• Interior features: Courtyard; Corner lot; Chain link fencing; Two-level layout; Property is attached (multi-unit)
• Laundry & utility: In-unit laundry (lower level); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 3×1bd/1ba units multifamily listed at $645k.

Deal economics

• At list price, monthly cash flow is $-821 ($-10k/yr) — negative. Per door: $-205/mo.
• To cash-flow at today's rent, offer at most $500k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $418k (35.1% below list).
• Recommended offer: $418k (35.1% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 4.0% in Jacksonville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 soft (-0.2%/yr); 219 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• At $4,185/mo this rent would consume 77% of the median local household income ($65k/yr) (locally 1730% 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 $19k 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 ($626k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $220k; list at $645k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $418,500 (35.1% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.65% ✗
• Cap rate: 4.89%
• Cash-on-cash: -5.02%
• DSCR: 0.78
• GRM: 12.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.7%
• Equity multiple: 0.06×
• Total profit: $-169,229
• Equity at exit: $96,172

10-year hold

• IRR: -43.9%
• Equity multiple: -0.45×
• Total profit: $-262,681
• Equity at exit: $55,768

Cash invested: $180,600 (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 32207

• Rents YoY: -0.2%
• Active inventory: 219
• Price-to-rent: 44.6×

Monthly cashflow live

• Estimated rent: $4,185 medium
• Mortgage (P&I): −$3,382
• Tax from tax record: −$410 /mo · $4,917/yr
• Insurance: −$269
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$879
• Net cashflow: $-821

Break-even live

Break-even rent $5,225

Max offer price $499,919

Occupancy floor —

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,205
▸ 3× units	1	1	$2,979
Total (4 units)			$4,185

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: $161,250
• Closing costs: $19,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Olevia St Jacksonville, FL	1.0–3.0	1.0–3.0	1127	$2,693	$2.39	2d	6	0.22mi
2304 Bethune Ave Jacksonville, FL	3.0	2.0	1316	$3,000	$2.28	23d	1	0.34mi
1651 Flagler Ave Jacksonville, FL	3.0	2.5	1701	$2,100	$1.23	16d	1	0.42mi
1928 Prudential Dr Jacksonville, FL	3.0	3.5	1745	$3,350	$1.92	23d	1	0.43mi
1244 Landon Ave Unit 3 Jacksonville, FL	3.0	2.0	1383	$1,795	$1.30	7d	1	0.44mi
2054 Prudential Dr Jacksonville, FL	3.0	3.5	1990	$6,000	$3.02	14d	1	0.51mi
2056 Prudential Dr Jacksonville, FL	3.0	3.5	2144	$6,495	$3.03	14d	1	0.51mi
1905 Promenade Way Jacksonville, FL	1.0–3.0	1.0–3.0	1045	$2,549	$2.44	1d	35	0.51mi
1655 Prudential Dr Jacksonville, FL	3.0	1.0–3.0	1113	$3,314	$2.98	3d	13	0.56mi
1401 Riverplace Blvd Jacksonville, FL	1.0–3.0	1.0–2.0	1401	$4,424	$3.16	4d	9	0.78mi
1377 Tiber Ave Jacksonville, FL	3.0	2.0	1304	$2,200	$1.69	14d	1	1.08mi
1720 Boulder St Jacksonville, FL	3.0	1.5	1540	$2,350	$1.53	23d	1	1.34mi
1720 Boulder St Jacksonville, FL	3.0	1.5	1540	$2,350	$1.53	12d	1	1.34mi
2032 Inwood Ter Jacksonville, FL	3.0	2.0	1336	$2,000	$1.50	3d	1	1.36mi
3460 Beach Blvd Jacksonville, FL	1.0–3.0	1.0–3.0	1061	$2,299	$2.17	1d	56	1.36mi
138 E Duval St Jacksonville, FL	3.0	1.5	1450	$3,200	$2.21	23d	1	1.38mi
343 E Church St Jacksonville, FL	3.0	3.5	1530	$2,195	$1.43	3d	1	1.39mi
2135 Ashland St Jacksonville, FL	3.0	2.5	1433	$1,700	$1.19	23d	1	1.42mi
2042 Sheridan St Jacksonville, FL	3.0	2.0	1330	$1,736	$1.31	4d	1	1.47mi
700 E Union St Jacksonville, FL	1.0–3.0	1.0–2.0	1070	$3,185	$2.98	4d	63	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $645,000 Active 41 DOM
2. 2026-06-17
   days on market $645,000 Active 40 DOM
3. 2026-06-16
   days on market $645,000 Active 39 DOM
4. 2026-06-15
   days on market $645,000 Active 38 DOM
5. 2026-06-13
   days on market $645,000 Active 35 DOM
6. 2026-06-10
   days on market $645,000 Active 32 DOM
7. 2026-06-08
   days on market $645,000 Active 31 DOM
8. 2026-06-07
   pricedays on market $645,000 Active 30 DOM
9. 2026-06-05
   days on market $695,000 Active 27 DOM
10. 2026-06-03
    days on market $695,000 Active 26 DOM
11. 2026-06-02
    days on market $695,000 Active 25 DOM
12. 2026-06-01
    days on market $695,000 Active 24 DOM
13. 2026-05-31
    days on market $695,000 Active 23 DOM
14. 2026-05-08
    listed $695,000 Active
15. 2023-06-16
    historical
16. 2011-02-03
    soldstatus $220,000
17. 1997-03-12
    soldstatus $43,500
18. 1986-02-01
    soldstatus $47,500

ⓘ 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: $4,917 · $410/mo
• Projected year-2 tax: $5,354 · $446/mo
• Expected delta: +$436/yr (+$36/mo · 8.9%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 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 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,220
• − Mortgage interest: −$36,130
• − Property taxes: −$4,917
• − Insurance: −$4,022
• − Repairs & maintenance: −$4,018
• − Management: −$4,018
• − Depreciation: −$18,764
• Taxable loss: −$21,649
• Est. tax savings @ 24.0%: +$5,196
• After-tax cash flow: $-4,660/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): 36,998
• Household income: $65,234
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 1730.0

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 0.63)
• Race & ethnicity: White 56% Black 16% Hispanic / Latino 15% Asian 9% Two or more races 9%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 4%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 17% · Canada, Philippines, China
• Languages at home: 76% English-only · Spanish 12% Other Asian/Pacific 5% Arabic 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: ▼ -299.33%
• Current HPI: 310.9037
• Rent YoY: ▼ -0.20%
• 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

+1363.2% since first listed

5 events — show timeline

• 2026-05-08 Listed $695,000 realMLS
• 2023-06-16 Rental Removed — NEFLMLS
• 2011-02-03 Sold (Public Records) $220,000 Public Records
• 1997-03-12 Sold (Public Records) $43,500 Public Records
• 1986-02-01 Sold (Public Records) $47,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $4,917 · +21.3% YoY. Source: county tax records.