Buy and hold - zip code Jacksonville FL 32218

14 Replies | Jacksonville, Florida

Hi all. I am a new investor looking to buy and hold around 4 properties (in cash as I plan to refinance later on) and thought of Jacksonville FL.

I am out of the country, so looking for low risk.  I would appreciate your thoughts on:

1. Currently, I have a good offer on a property in zip code 32218. My questions is, is this considered a good area for by and hold?

2. Which zip codes should I focus on in Jacksonville for buy and hold? 

Thank you all in advance

Hi Avi 32218 is a great area that most local Investors buy and hold. Then you have 32210, 32244, 32222 and the beach area. I'm a wholesaler and I have a mobile home located in 32244. If interested I can send you the info. 

Trishana lewis

@Avi Pasternak You can see what properties rent for on average at rentometer.com, I use that site to get an idea of rent. As for properties sitting, well some of that has to do with greedy landlords and other factors like house condition. There are a lot of properties now on the market too as people see 2019/2020 as maybe a recession, meaning we are peaking in the real estate market. I have rentals in 32205, Murray Hill area, which is on fire right now. 

My wife and I have purchased and flipped 20+ homes and she has sold 353 homes (on her own) and over 500 with partners, during her time as a Realtor in Jacksonville. I would choose a strong up and coming community that will appreciate better in the long term. 

Depending on where the property is located in 32218 would be a judgement call on its value. Learn more about values in any zip code using this tool.

@Avi Pasternak This article just came out about Murray Hill. You can also view the local sales data here at the NEFAR website. As far as best, I work in neighborhoods 5 minutes from my Avondale house. I don't need to go to the beach or Arlington, everything I can do there, I can do within 5 minutes of my house. 

I know you are an investor, so you need to decide which neighborhood is for you, then work around it. There is no right or wrong answer. I know great landlords that hold dozens of properties in 32206 and 32208, but that is not for me. I'd rather pay a bit more, get a better tenant, and see more appreciation. But it works differently for different people. 

Happy to help you though from afar. My wife and I have worked with investors all over the world and most recently from Miami. 

Originally posted by @Jack Bobeck :

@Avi Pasternak You can see what properties rent for on average at rentometer.com, I use that site to get an idea of rent. As for properties sitting, well some of that has to do with greedy landlords and other factors like house condition. There are a lot of properties now on the market too as people see 2019/2020 as maybe a recession, meaning we are peaking in the real estate market. I have rentals in 32205, Murray Hill area, which is on fire right now. 

My wife and I have purchased and flipped 20+ homes and she has sold 353 homes (on her own) and over 500 with partners, during her time as a Realtor in Jacksonville. I would choose a strong up and coming community that will appreciate better in the long term. 

Depending on where the property is located in 32218 would be a judgement call on its value. Learn more about values in any zip code using this tool.

 Thank you for the link to that tool, I have never seen that site before!

Originally posted by @Jack Bobeck :

@Avi Pasternak You can see what properties rent for on average at rentometer.com, I use that site to get an idea of rent. As for properties sitting, well some of that has to do with greedy landlords and other factors like house condition. There are a lot of properties now on the market too as people see 2019/2020 as maybe a recession, meaning we are peaking in the real estate market. I have rentals in 32205, Murray Hill area, which is on fire right now. 

My wife and I have purchased and flipped 20+ homes and she has sold 353 homes (on her own) and over 500 with partners, during her time as a Realtor in Jacksonville. I would choose a strong up and coming community that will appreciate better in the long term. 

Depending on where the property is located in 32218 would be a judgement call on its value. Learn more about values in any zip code using this tool.

 Hey Jack, I am looking at a property now in 32205, what would you say about that area based on your experiences? How's the neighborhood, what are vacancies like? Any insight would be appreciated!

Its a hot area here in 32205. Murray Hill, Riverside, Avondale are all strong neighborhoods. Vacancies are low and there is a lot of demand to be in Riverside, its the best neighborhood for millennials in all of the USA. Its the only zip code I buy in here in Jax. 

Thanks @Jack Bobeck for that feedback! That is great to hear, better than I thought actually, I had the impression that it was on the "lower end" spectrum of neighborhoods. The property I am looking at seems to be somewhere in between Riverside and Lackawanna. Does it get worse the further inland you get?

What is making this so attractive for millennials? Do you mean attractive from an investment standpoint or for living?

@Heshel Mangel Every zip code will have its "challenge" areas, even 32205. Some of those are as you get closer to I-10, because who wants to live next to a highway? But there are issues throughout 32205, mostly petty thefts out of cars, stuff like that. 

Here is the great article on the Millennial population growth in Riverside. Everything they want/need is in Riverside these days. Its a dynamic neighborhood. Thankfully we are buying a house to fix and flip 3 blocks from Riverside Park, it will be a great score once complete. 

@Jack Bobeck Thanks! That's a good article. Yea, so this property is closer to the highway. Another "red flag" I am seeing now with the property is there is a section 8 tenant already living in one of the units. Is that something you'd suggest I stay away from as a "beginner" investor?

Anyone else have thoughts on this?