Jacksonville FL quad west of 295 location advice

[Nancy Bachety]

Hi,

We are preparing our offering price in this neighborhood (north of Jax Heights) on a block with  a bunch of quads. The seller wants to unload it after a year, he reno'd one unit and the other 3 are uninhabitable bc he started them. Says there is a tenant coming into the completed unit for $600. Area rents could conservatively get $525 - $600, depending. All in about $140K.  (Awaiting another rehab est today). In a C neighborhood.

Anyone care to comment on the location?

[Maxwell Lee]

Don't know it too well but it's probably a fine area. North a little bit to Normandy west of 295 are very nice, relatively new, subdivisions and retail. It's a nice looking, very affordable, part of town. 

That said, I don't invest there. We invest in the desirable areas of the urban core where I see almost no competition from new supply if demand continues to grow. I'll assume that your area will be good for cash-flow only and you wouldn't anticipate any appreciation above city averages.