Is Jacksonville on FIRE!!??

Question

Hey Guys!! I recently sold my home and now ready to buy a few buy and hold investments and maybe a few flips.  I live in Davenport, FL and I'm hearing whispers about Jacksonville FL being a good place to invest/flip.  What can you tell me about 32206 (Springfield area) and 32209 1 mile away but is considered a bad area?

Aaron Yang · Answer

@Jeremy McAlee Is right as there's always good and bad parts of zip codes but I'll give you some areas where the properties are MORE often than not worth the bad tenants @Dennis Williams. Most of 09, southern part of 08, east side of 54, and parts of 06.

Michael Ablan · Answer

@Dennis Williams -  You may make faster progress calling brokers and property management companies in that area.  They're boots on the ground and transacting in that area every day.  They're the ones who can give you the details you need.

Jasmine Hu · Answer

Block by block makes sense. Yet any idea what kind of tenant ( job etc) would generate in those elementary school ranking as 4 or 3? I have never invested in any of those type of areas.

If recession comes down the road, it would be nice to have nurse as tenants or plumbers or HVAC people.

Chad McLeod · Answer

It looks like Aaron Yang beat me to it, but when I was looking into Jacksonville the realtor I talked to said 06, 08, 09 and 54 were zip codes he would not invest in.  He's lived in Jacksonville his whole life and owns properties in the city, and said he actually PREFERS rentals in C type areas.  So for him to say he won't touch those zip codes said a lot to me.

Dennis Williams · Answer

@Scott DeVore

Check your pm

Dennis Williams · Answer

@Aaron Yang thanks for the info. I take it you have a few properties in these areas?

Scott DeVore · Answer

@Dennis Williams Springfield is the least expensive historical area to make entry into buying (vs Riverside and Avondale). I drive through often and see families pushing strollers and walking their dogs as you see a fully restored mansion next to an abandoned shack. Because of the historical association it’s in you can most likely hedge your bets that it’ll not only hold value but increase over time compared to the other neighborhoods built at the same time. Still can acquire deals under $50k here whether on the MLS or from wholesaler. I’m a broker and a GC in Jax and can help w any other questions. Feel free to DM me, thx

Dennis Williams · Answer

@Michael Ablan this true🤔. Will do. One realtor has already said I’d be better off in a different zip. But to Jeremy’s point, Pine Hills in Orlando was a “stay away” zip code 4yrs ago and prices were $40k-80$k. Today it’s still a “stay away” zip in the minds of many but it’s selling for $150k-$200k.

Jeremy McAlee · Answer

Jacksonville as a whole is funny like that. You can go look at river front homes and you would find, mansion, mansion, mansion, trailer, mansion. Our entire city is filled with pockets. Thats why I dislike generalizing about zip codes. Sometimes as a rule of thumb you can narrow your search but I would never buy or not buy just based on zip code without further investigation.

Dennis Williams · Answer

Thanks @Jeremy McAlee. I went there about two weeks ago and it seams that north of 6th street is better than the rest. I also saw a small pocket of updated multi-family and sfh off 6th and Myrtle. Rents seams to be subjective.

Is Jacksonville on FIRE!!??

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