El Cerrito, CA · Member since 2016 · 54 posts · 8 votes
Hi BP,
I need some advice on Westside – Jacksonville market. Tomorrow, I am planning to talk to a seller and make a commit on purchasing a SFH property. Not familiar with area, but I am planning to travel Florida this week to check out the area before signing a PSA. It's new home (4Bedroom, 2Bathroom) with price of $167K option to buy cash or using a PML.
Any word from Westside – Jacksonville area/rental market trend will be more appreciated.
Qualified Intermediary for 1031 Exchange" · Jacksonville, FL · Member since 2015 · 239 posts · 84 votes
10y
I am a native of the area and can tell you that Jacksonville is a very large city and on all sides of town there are both good and not so good places to invest but the westside is not notorious for the best place to live. Having said that, a large part of your decision should be based on what you can rent it for and the average length of time it takes to rent a home in the area. Overall, and generally speaking, there are several other sections of town that are more desirable but I would certainly consider the ROI as well because if the price is right, it can certainly still work. Also, keep in mind the "west side" has a lot of great newer areas so I am only speaking in general when I say the south side, beaches, gate parkway, and mandarin areas are a little more desirable. Again, do not want to offend anyone on the westside because there are great areas over there but it just not as centralized with access to other parts of the city.
I hope that helps
Qualified Intermediary for 1031 Exchange" · Jacksonville, FL · Member since 2015 · 239 posts · 84 votes
10y
I am a native of the area and can tell you that Jacksonville is a very large city and on all sides of town there are both good and not so good places to invest but the westside is not notorious for the best place to live. Having said that, a large part of your decision should be based on what you can rent it for and the average length of time it takes to rent a home in the area. Overall, and generally speaking, there are several other sections of town that are more desirable but I would certainly consider the ROI as well because if the price is right, it can certainly still work. Also, keep in mind the "west side" has a lot of great newer areas so I am only speaking in general when I say the south side, beaches, gate parkway, and mandarin areas are a little more desirable. Again, do not want to offend anyone on the westside because there are great areas over there but it just not as centralized with access to other parts of the city.
I hope that helps
When will you be here in Jacksonville? There are oppurtunities on different days of the week to attend a JaxREIA meeting or networking event. There is also the Jax-REIM group that meets up. Check out the JAX-REIM in the MeetUp app.
El Cerrito, CA · Member since 2016 · 54 posts · 8 votes
10y
@Tony Figurelli I am planning for this week or early next week. At this moment i am waiting for the seller to set up a day for me to come over. Thanks will check those meet groups.