Rental properties in Springfield area (JAX)

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.