Rockville, MD · Member since 2018 · 93 posts · 28 votes
I have been told that the Springfield area of Jacksonville is up and coming and a good place for rental properties. I am seeking any feedback on this. Thank you.
Atlantic Beach, FL · Member since 2018 · 1 post · 4 votes
8y
Investing in Springfield would pay off but it has to be the right property and the buyer would need to be willing to hold for at least a year. A prime example is a debilitated duplex that I showed to a new investor a few years ago. It was a FSBO for 30k. They passed on the property. Two years later it was on the market as a fully renovated single family home for $270,000. Believe it or not it was under contract at that price! At the time that I viewed it, it was outside of the historic area, but over the following 24 months the revitalization had trickled down enough for the lucky investor to make a pretty penny.
There are a few investors dedicated to Springfield because they have an understanding of the market in that area. It’s not for everyone but I wouldn’t count it out. You cannot buy that low and see the same return in Avondale, Riverside, or Murray Hill.