Florida Investing Rentals
I am moving to St Augustine area, I would like to get some info on rentals in the Jacksonville area. I will be new to Florida, I am in Ca now and have rentals here. Ca market is different then Florida, I am noticing its more of a cash flow game in Florida, not a lot of appreciation on the homes. Also looks flooded with rentals, but everything I am reading leads you to think it has a great rental market, how tough is this market? Not looking to flip, just cash flow. Solid homes that will hopefully sell for a profit in time.
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I am an agent in mostly the East Jacksonville market and I find the price to rent ratio around 15-17%. Most 3/2 east of UNF are 1700-2200 based on condition. Rentals do not last long in our market. We are seeing a influx of people from California and the Northeast and inventory is very low.
Jacksonville is the number 4th growing city and still the most affordable in Florida. Median price about 255,000. Jacksonville homes are anticipated to appreciate around 5% this year.
St Augustine is a wonderful city.Welcome to Florida!