2962 Spencer St · Jacksonville, FL 32254

$170,000

4 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 102 Days on market

Built 1922 Est $180k · 6% under

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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 +16.4/30.0
• ARV discount +10.0/15.0
• Appreciation +6.7/10.0
• DSCR +5.1/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The 4 bedroom 2 bath home has been fully updated and very spacious! New carpet in the bedrooms, tile throughout. New paint and newly remodeled bathrooms and kitchen. Brand new stainless steel refrigerator and a glass top stainless steel oven. Washer/Dryer connect is located in the home. Security Alarm. Ready for an investor or a new home owner. Will not last long

Key facts

• Built 1922
• Listed 101 days

Property features AI

Finance

• Other: Not in a senior community
• Financial info: Tax year 2025

Exterior

• Parking: Other parking
• Utilities: Electricity available; Water available; Sewer available
• Home design: Single family residence; Used as residential single-family
• Construction: Other roof
• Exterior features: Front porch; Back yard with chain link fencing; Asphalt road frontage on a city street; No private pool

Interior

• Kitchen: Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Central heating and electric heating; Central air conditioning
• Laundry & utility: Unfurnished (no washer/dryer included listed)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (3.6% below list).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.

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: Ruth N. Upson Elementary School (math 72% / reading 67%, grade A-, #364 of 2,144 statewide, top 19%, 376 students, 61% FRL); Joseph Stilwell Middle School (math 31% / reading 33%, grade F, #448 of 571 statewide, top 79%, 612 students, 68% FRL); Riverside High School (math 24% / reading 39%, grade F, #424 of 667 statewide, top 64%, 1,567 students, 60% FRL).
• Market conditions: Rents rising (+1.7%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.4% local appreciation)).
• Duval County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 1.7% rent growth), your $48k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $170k implies a 673% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $154,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.96% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.45%
• DSCR: 1.11
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $180,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2908 Spencer St	0.11mi	3/2.0 (-1)	1,100 (-1%)	0mo	$158,000	$144	84
2881 Lenox Ave	0.20mi	3/1.0 (-1)	1,068 (-4%)	2mo	$90,000	$84	77
3205 Dignan St	0.36mi	3/2.0 (-1)	1,080 (-3%)	2mo	$140,000	$130	68
3127 Dignan St	0.27mi	3/2.0 (-1)	1,197 (+8%)	2mo	$210,000	$175	64
156 Willow Branch Ave	0.25mi	4/2.0	1,268 (+14%)	0mo	$105,000	$83	61
3119 Rosselle St	0.42mi	3/1.0 (-1)	1,018 (-8%)	3mo	$167,500	$165	59
2667 Amy St	0.68mi	3/1.0 (-1)	1,038 (-7%)	0mo	$117,000	$113	52
724 James St	0.49mi	3/2.0 (-1)	1,207 (+8%)	2mo	$265,000	$220	52
3557 Dillon St	0.67mi	3/1.5 (-1)	1,035 (-7%)	1mo	$180,000	$174	49
357 Smith St	0.52mi	3/2.0 (-1)	1,000 (-10%)	3mo	$142,000	$142	48
3333 Ernest St	0.68mi	3/1.0 (-1)	984 (-12%)	1mo	$207,000	$210	43
2562 Summit St	0.68mi	3/2.0 (-1)	1,268 (+14%)	3mo	$205,000	$162	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.41% appreciation · 1.7% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.60×
• Total profit: $28,346
• Equity at exit: $80,421

10-year hold

• IRR: 11.7%
• Equity multiple: 2.79×
• Total profit: $84,967
• Equity at exit: $127,128

Cash invested: $47,600 (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 32254

• Home prices YoY: 1.2%
• Rents YoY: 1.7%
• Active inventory: 173
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,640 high
• Mortgage (P&I): −$891
• Tax from tax record: −$236 /mo · $2,827/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $97

Break-even live

Break-even rent $1,516

Max offer price $170,000

Occupancy floor 89%

Sensitivity live

Price	-10% $194	-5% $145	+0% $97	+5% $49	+10% $1
Rent	-10% $-32	-5% $33	+0% $97	+5% $162	+10% $227
Rate	-1.0pp $183	-0.5pp $141	base $97	+0.5pp $53	+1.0pp $9

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Sunshine St Jacksonville, FL	3.0	2.0	1050	$1,350	$1.29	3d	1	0.25mi
3118 Dignan St Jacksonville, FL	4.0	2.0	1103	$1,148	$1.04	3d	1	0.26mi
3159 Phyllis St Jacksonville, FL	3.0	2.0	1209	$1,561	$1.29	4d	1	0.42mi
371 Smith St Jacksonville, FL	3.0	2.0	1050	$1,325	$1.26	6d	1	0.50mi
3318 Dignan St Jacksonville, FL	3.0	2.0	960	$1,200	$1.25	25d	1	0.51mi
3319 Hunt St Jacksonville, FL	3.0	1.0	924	$1,295	$1.40	25d	1	0.51mi
2812 Ernest St Jacksonville, FL	3.0	1.0	1461	$2,800	$1.92	25d	1	0.51mi
3323 Nolan St Jacksonville, FL	3.0	1.0	927	$1,050	$1.13	3d	1	0.51mi
3352 Dillon St Jacksonville, FL	3.0	2.0	1229	$1,372	$1.12	25d	1	0.58mi
717 King St Jacksonville, FL	3.0	2.0	1132	$1,800	$1.59	19d	1	0.61mi
2759 Dellwood Ave Jacksonville, FL	3.0	2.0	1080	$2,100	$1.94	21d	1	0.61mi
3347 Phyllis St Jacksonville, FL	3.0	2.0	1145	$1,395	$1.22	25d	1	0.62mi
3036 Green St Jacksonville, FL	3.0	1.0	924	$1,495	$1.62	25d	1	0.62mi
3515 Dignan St Jacksonville, FL	3.0	1.0	915	$1,036	$1.13	4d	1	0.62mi
2410 McQuade St Jacksonville, FL	3.0	2.0	1307	$1,425	$1.09	25d	1	0.63mi
715 Ralph St Jacksonville, FL	4.0	2.0	1338	$2,195	$1.64	6d	1	0.64mi
3312 Ernest St Jacksonville, FL	3.0	1.0	1065	$1,148	$1.08	25d	1	0.67mi
3550 Edison Ave Jacksonville, FL	3.0	2.0	1230	$1,463	$1.19	6d	1	0.67mi
2701 Myra St Jacksonville, FL	3.0	1.0	1065	$1,595	$1.50	23d	1	0.73mi
3353 Dellwood Ave Jacksonville, FL	3.0	1.0	934	$1,595	$1.71	19d	1	0.74mi
2561 Rosselle St #1 Jacksonville, FL	3.0	3.0	1287	$1,395	$1.08	25d	1	0.75mi
3313 Green St Jacksonville, FL	3.0	1.0	1058	$1,450	$1.37	9d	1	0.76mi
2526 Phyllis St Jacksonville, FL	3.0	2.0	1300	$1,800	$1.38	25d	1	0.78mi
676 Bridal Ave Jacksonville, FL	3.0	2.0	1008	$1,450	$1.44	25d	1	0.78mi
3688 Dillon St Jacksonville, FL	3.0	2.0	1230	$1,421	$1.16	25d	1	0.79mi
2614 Dellwood Ave Jacksonville, FL	3.0	1.0	1122	$2,325	$2.07	6d	1	0.83mi
3302 College St Jacksonville, FL	3.0	1.0	1174	$1,095	$0.93	9d	1	0.84mi
3352 College St Jacksonville, FL	3.0	2.0	1335	$1,550	$1.16	16d	1	0.90mi
2657 Post St Apt 2 Jacksonville, FL	3.0	1.0	1100	$1,700	$1.55	4d	1	0.94mi
2325 Westbrook Cir N Jacksonville, FL	3.0	2.0	812	$1,200	$1.48	25d	1	0.99mi
2012 Baldwin St Jacksonville, FL	3.0	2.0	1232	$1,445	$1.17	25d	1	0.99mi
2185 Kingston St Jacksonville, FL	3.0	2.0	1230	$1,381	$1.12	25d	1	1.02mi
1035 Congleton Ter Jacksonville, FL	3.0	2.0	1180	$2,400	$2.03	4d	1	1.03mi
2154 Placeda St Jacksonville, FL	4.0	1.5	1124	$1,500	$1.33	23d	1	1.05mi
1273 Lechlade Cir Jacksonville, FL	3.0	2.0	1257	$2,395	$1.91	19d	1	1.05mi
1273 Lechlade Cir Jacksonville, FL	3.0	2.0	1257	$2,395	$1.91	6d	1	1.05mi
1923 Broadway Ave Jacksonville, FL	3.0	2.0	1230	$1,421	$1.16	25d	1	1.07mi
4006 College St Jacksonville, FL	3.0	2.5	1208	$2,200	$1.82	13d	1	1.07mi
4006 College St Jacksonville, FL	3.0	2.5	1200	$2,200	$1.83	25d	1	1.07mi
3012 Imperial St Jacksonville, FL	3.0	1.0	1089	$1,395	$1.28	25d	1	1.09mi

Listing history 25 events

1. 2026-06-21
   days on market $170,000 Active 102 DOM
2. 2026-06-18
   days on market $170,000 Active 99 DOM
3. 2026-06-17
   days on market $170,000 Active 98 DOM
4. 2026-06-16
   days on market $170,000 Active 97 DOM
5. 2026-06-15
   days on market $170,000 Active 96 DOM
6. 2026-06-13
   days on market $170,000 Active 93 DOM
7. 2026-06-10
   days on market $170,000 Active 90 DOM
8. 2026-06-08
   days on market $170,000 Active 89 DOM
9. 2026-06-07
   days on market $170,000 Active 88 DOM
10. 2026-06-03
    days on market $170,000 Active 84 DOM
11. 2026-06-02
    days on market $170,000 Active 83 DOM
12. 2026-06-01
    days on market $170,000 Active 82 DOM
13. 2026-05-31
    days on market $170,000 Active 81 DOM
14. 2026-05-06
    price $170,000
15. 2026-03-11
    listed $180,000 Active
16. 2025-01-28
    historical $1,900
17. 2025-01-27
    historical 375-char remark

    Show marketing remark (375 chars)

    The 4 bedroom 2 bath home has been fully updated and very spacious! New carpet in the bedrooms, tile throughout. New paint and newly remodeled bathrooms and kitchen. Brand new stainless steel refrigerator and a glass top stainless steel oven. Washer/Dryer connect is located in the home. Security Alarm. Ready for an investor or a new home owner. Will not last long

18. 2025-01-10
    price $1,900
19. 2025-01-09
    price $210,000 375-char remark

    Show marketing remark (375 chars)

    The 4 bedroom 2 bath home has been fully updated and very spacious! New carpet in the bedrooms, tile throughout. New paint and newly remodeled bathrooms and kitchen. Brand new stainless steel refrigerator and a glass top stainless steel oven. Washer/Dryer connect is located in the home. Security Alarm. Ready for an investor or a new home owner. Will not last long

20. 2024-12-28
    listed $225,000 Active 375-char remark

    Show marketing remark (375 chars)

    The 4 bedroom 2 bath home has been fully updated and very spacious! New carpet in the bedrooms, tile throughout. New paint and newly remodeled bathrooms and kitchen. Brand new stainless steel refrigerator and a glass top stainless steel oven. Washer/Dryer connect is located in the home. Security Alarm. Ready for an investor or a new home owner. Will not last long

21. 2024-12-12
    price $2,300
22. 2024-12-05
    listed $2,350
23. 2008-06-10
    historical 96-char remark

    Show marketing remark (96 chars)

    HOME IS ON CITY WATER & CITY SEWER IS VACANT AND WOULD MAKE A GOOD STARTER HOME FOR SOMEONE.

24. 2007-11-30
    listed $54,000 96-char remark

    Show marketing remark (96 chars)

    HOME IS ON CITY WATER & CITY SEWER IS VACANT AND WOULD MAKE A GOOD STARTER HOME FOR SOMEONE.

25. 1998-11-17
    soldstatus $22,000

ⓘ 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: $2,827 · $236/mo
• Projected year-2 tax: $2,827 · $236/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 ≥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 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,675
• − Mortgage interest: −$9,523
• − Property taxes: −$2,827
• − Insurance: −$850
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$4,945
• Taxable loss: −$1,618
• Est. tax savings @ 24.0%: +$388
• After-tax cash flow: $1,557/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): 13,927
• Household income: $34,953
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 882.0

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 0.56)
• Race & ethnicity: Black 60% White 28% Two or more races 7% Hispanic / Latino 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Slovak 1% Hispanic 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 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: ▲ 3.41%
• Current HPI: 282.2981
• Rent YoY: ▲ 1.70%
• 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

+672.7% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $170,000 realMLS
• 2026-03-11 Listed $180,000 realMLS
• 2025-01-28 Rental Removed $1,900 NEFLMLS
• 2025-01-27 Listing Removed — realMLS
• 2025-01-10 Price Changed $1,900 NEFLMLS
• 2025-01-09 Price Changed $210,000 realMLS
• 2024-12-28 Listed $225,000 realMLS
• 2024-12-12 Price Changed $2,300 NEFLMLS
• 2024-12-05 Listed for Rent $2,350 NEFLMLS
• 2008-06-10 Listing Removed — realMLS
• 2007-11-30 Listed $54,000 realMLS
• 1998-11-17 Sold (Public Records) $22,000 Public Records

Property tax history

+14.6%/yr

Latest (2025): $2,827 · +149.3% YoY. Source: county tax records.