Jacksonville Riverside Neighborhood

[Soujanya Masna]

Hi, we are considering out of state rental property investment  (buy & hold) Jacksonville, FL. Our budget is upto 150K.

~ How is Riverside neighborhood for rental investment? Anything to be wary about that neighborhood?

~ What are the other neighborhoods recommended to buy and rent the house? 

Appreciate if you can share any of your JAX RE contacts.

Thanks !!

[Sarah Shockley]

Hi @Soujanya Masna  - I'm a buy and hold investor with 9 rentals in Riverside. If your budget is $150k you're going to have a tough time buying here - right now there's only one house on the market below that price and it would require at least $60k in renovations.

The Riverside and (adjacent) Avondale neighborhood regularly ranks in the top neighborhoods in the country, and values have risen steadily for years now. I disagree with @Jake Sink s comments regarding "crime being more than expected". I've  lived here myself for over 10 years, as well as managing multiple properties in the area without issue. Sure, we get kids checking car doors at night but that's about it.

However what he mentioned about buildings being old is true - a majority of the properties were built in the 1920s and 1930s and are within a historic district so if you are not familiar with historic building restorations it would be a challenging area to own property in.

Honestly at that price point I think you will have difficulty buying in any neighborhood most would consider 100% "safe." But as for neighborhoods you might could find a sfh under $150k to rent out profitably, I have recommendations.

Argyle Forest - lots of 80s and 90s construction sfh and townhomes, so these properties generally just need small renovations

Lakeshore - 1940s homes, values rising, inside an "Economic Opportunity Zone" so some extra tax benefits to investing here

South Riverside and Lakewood - mixed bag of 1920s and 1950s homes, adjacent to some very nice neighborhoods

Arlington - large area with multiple sub-neighborhoods within, mostly mid-century homes, more cheap listings but not as nice of an area

Anyway I hope that helps. Good luck!