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Duplex Opportunity Near downtown Jacksonville

• 2 Beds / 2 Baths • 1,344 SqFt
Sold
Offer Submission Deadline
  • Single Family House
  • 2
  • 2
  • 1926
  • 1344
  • 1344
  • No Garage

Description

Deal Analysis – xxx Fern St, Jacksonville, FL 32206

1. Property Snapshot

  • Asset: Duplex (2 units)
  • Purchase price: 59,000
  • Condition: Full rehab needed (interior + exterior)
  • Submarket: 32206 – close to Springfield, strong rental demand, active investor area

2. Strategy A – Fix & Hold (Rental Income)

  • Cost Purchase: 59,000
  • Rehab: 80,000–100,000 (full gut including mechanicals, roof, kitchens, baths)
  • Soft costs, closing, contingency: 10,000–15,000
  • All-in basis: 165,000–190,000

Income:

  • Each side can be rented conservatively for 1,000–1,200 monthly once rehabbed (check comps in 32206 for renovated duplexes).
  • Gross rent: 24,000–28,800 per year
  • Net operating income (65% rule): ~15,600–18,700 per year

Returns

  • Cap rate: ~8–10% depending on final rehab cost
  • DSCR coverage: Strong, easily financeable with DSCR loan
  • Long-term play: cash flow + property appreciation in Springfield-adjacent corridor

3. Strategy B – Flip (Retail to Landlord Buyer)

  • Costs Purchase: 59,000
  • Rehab: 80,000–100,000
  • All-in: 165,000–175,000

Exit

  • ARV for fully renovated duplexes in 32206 ranges from 210,000–240,000, depending on finish level and rent roll.

Profit Potential

  • Gross margin: 35,000–65,000
  • Net margin after closing/resale costs (8%): 20,000–45,000
  • Timeline: 4–6 months rehab + 1–2 months marketing

Estimated Spread

  • ARV $160,000
  • Price $59,000
  • Spread $101,000

George Munoz

Phone (561) 654-7372
Email george@malihaus.com
Make an Offer
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