Cashflow in Jacksonville Florida

[Trace Garretson]

My girlfriend and I are selling our current home in Colorado. We are relocating to Jacksonville, Fl this spring. 

We intend to buy one single family home to live in for the first year, that will transition into becoming a rental once we target our favorite area of town to buy our new primary residence in. 

Our biggest concern is locating the ideal neighborhoods to purchase a rental in, in terms of cashflow and high ROI, and appeal to families with kids that will hopefully rent long term and keep our vacancy very low.

Our budget on the first property is a max of 35k down.

Jacksonville is such a huge place that we really need suggestions on where to start our search. Although we live in Colorado at the moment, we will visit Jacksonville for a week with a realtor before new years, and will go once more if necessary in January to get boots on the ground and get a feel for the area in person. Where would you look to buy?

[Gregory L.]

I’ve lived in Jacksonville since 2000, and I️ track real estate here almost daily.

You’ll have difficulty finding a 3/2 or 4/2 for 175k max, and in a good public school district. There are areas with homes that size and in that price range, but they won’t be the most desirable.

Someone mentioned Riverside and San Marco, but both areas are amongst the most desirable in all of Jax. You’d be very lucky to find a decent 3/2 in Riverside for under 225k. San Marco is even more expensive.

Murray Hill and Springfield are cheaper options, but safety is an issue for some.

I’d recommend you check the below zip codes for possible options.

32204 (Riverside in this one)
32206 (Springfield in this one)
32207 (San Marco in this one)
32205 (Murray Hill in this one)
32246
32208
32210

Some of these have very questionable areas, so you’ll have to perform a detailed search to find what you’re looking for.