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Newly Renovated Foreclosures with Tenants
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| Location: |
Jacksonville, Florida |
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| Property Type: |
Single Family Homes |
| Market Value: |
$115,000 to $140,000 |
| Purchase Price: |
$90,000 to $115,000 |
| Estimated Equity: |
25% to 30% |
| Cash Flow: |
$100 to $200 /mo (+/-) |
| Capitalization Rate: |
9.4% and up |
| Return on Investment: |
227% and up |
| DealGrader™ Score: |
9.2 (out of 10) |
Property Overview
- Fully refurbished foreclosures within the greater Jacksonville market.
- Properties are tenant occupied and managed by professional management firm.
- All properties are 25% below market value. (Some are up to 30% below market.)
- 3 and 4 bedrooms, 2-3 baths, up to 2 car garages in desirable neighborhoods.
Housing Market
- One of the fasting growing cities in Florida.
- Largest city in area in the continental United States.
- Home appreciation in the last year has been 10%.
- The median home price in the Jacksonville Metro area is $152,820.
- Supply of Inventory for the region has dropped dramatically over the last year.
Economic Overview
- Jacksonville's cost of living is 6.9% lower than the U.S. average.
- Jacksonville has had a population growth of 13.83% since 2000. (Sperling's Best, 2009)
- With 4 airports, 3 marine terminals and a vast network of railways and interstate roadways that put 45 million people within a day's drive, Jacksonville is increasingly becoming and international logistics powerhouse.
(Sky Magazine, 2009)
Other Factors
- Nation's largest public park system. More than 111,000 acres of parkland and preserves.
- 20 colleges and universities, including Jacksonville University, named one of 'America's Best Colleges' by US News & World Report for the fourth consecutive year in 2008.
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