8 bd · 4.0 ba ·
2,448 sqft ·
Built 1949
· MultiFamily
· Pending
· 27 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$4,158/mo
Mortgage (P&I)
−$1,678
Tax + insurance
−$534
HOA
−$0
Vac / Maint / Mgmt
−$873
Net cashflow
$1,073/mo
Annual
$12,875/yr
Cap rate
10.32%
Cash-on-cash
14.37%
DSCR
1.64
1% rule
1.30%
Cash to close
$89,600
Investor read
This is a 4 × 2-bed/1.0-bath units multifamily listed at $320k.
At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $268/mo.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($4k rent vs $320k).
It's been on market 27 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $315k (1.5% below list) — sets the bar for market timing.
In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (3.4% local appreciation)).
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.
Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: Rents rising (+1.7%/yr); 172 active listings in the ZIP; lower-income renter base — watch delinquency; 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.
7 sale attempts since 19y 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 $222k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
At projected returns (3.4% appreciation + 1.7% rent growth), your $90k cash investment doubles in ~4 years — after that, you're playing with house money.
By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 10.3% 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.
Questions for listing agent
Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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.
CashFlowRE · CFR-Z512F4CSGQY242
· Data 3 weeks agocashflowre.app · 2026-05-29