Flipping advice needed - Having second thoughts (Jacksonville)

[Jonathan B.]

Hi Guys,

First off, very grateful to have a place to seek support when needed - Thanks

Have this property under contract, got it via the MLS with a buyer's agent, who pulled what seems to be good comps-

The property is very well maintained yet very dated -

Purchase: 65K

Workscope: 25K-30K

ARV: 130k-145K Range

Agent is confident that it will sell for 130K very easy, more leaning towards 140K,

Zillow Data are off and i could not see the Comps he sent over on zillow/recently sold - yet i did confirm it via the county tax website

I am planning to finance the whole project with my own Cash -

My impression of the area is that its a B Class neighborhood, there were several sales within this price range in the immediate area within the last months - Its growing but not whole blocks of the same price i am looking at - It sort of having an increase in investor interest as it seems, 

Individual houses are buying bought/rehabbed and sold - 

really hard what to say on that, for me at-least.

Question is -

Could anyone here assist me with confirming the data/ the area and provide his own analysis as to how that looks - Pretty new to this.

I trust the agent and data that he provided, but these seconds thoughts are disturbing -

4603 Morley Ln, Jacksonville 32210 - Cedar Hills.

Thanks

[Lesley Resnick]

ehonatan,

I've know this property. I work with investors in JAX exclusively. The house needs a new roof and most likely roof decking. It also needs a complete HVAC system. I can not remember the brand of electric panel in the house and it may need a new one for insurance purposes and it most likely needs a new hot water heater. Converting the half bath into a full bath is a worthwhile expenditure but the logistics of the space will be difficult.120K is a reasonable ARV; 130K is a possibility but I would base my decision on 120K. There is absolutely nothing wrong with the neighborhood or the area in general however I have reservations in agreeing with an assessment of a B neighborhood. The day will come but I don't think you are there yet. Everything said in this forum not withstanding, it is all opinion. You need to trust your agent and that person's advise. Jacksonville is a wonderful investment market and I wish you all the best in you future endeavors.