JACKSONVILLE, FL investors?

[Michael Cortez]

Hi all,

I'm a new investor just closed on my first rental in upstate NY. Looking to get my second one in Jacksonville. Looking at a 3/2 single family in zip code 32208. It's roughly 1400 sq feet sitting on almost 1 acre of land. For anyone familiar with the area is this a good area for buy and hold? Ran some prelim numbers and its looking like a 15% cash on cash with almost a 9% cap rate. It's currently listed at 175K (would offer lower its been on market 64 days). 

Thanks for the help

[Mark Fries]

@Michael Cortez

I wouldn't be looking at anything that is a 1 acre property for long-term renting.. I've done that before and it just turns into a maintenance issue because somebody has to maintain that big property and cut the grass and keeping it looking good. Tenants have no desire to maintain a 1 acre property so you're going to be stuck paying for that.

I would stick to normal conforming properties that have small yards 1/4 acre or less.