Entrepreneur of the Week - Post # 5: Jacksonville Real Estate Market Review - January 2020: Video…
Entrepreneur of the Week - Post # 5:
Jacksonville Real Estate Market Review - January 2020:
Video of why Jacksonville is the US investment city - in the comments.
It is almost impossible to purchase quality properties as of today for less than 90 thousand dollars per condo,
And $ 120 and down to Town House, Single Family,
In low crime areas, high rental demand,
And a high standard of property renovation - mainly:
Roof, electricity, plumbing, cooling system and water heater.
So after examining over 1000 amazing properties in Jacksonville North Florida, I want to give you an overview of the state of the city's real estate market
1 - The trend of price rises is definitely continuing throughout the city - with more detail below -
This is mainly due to positive and ongoing migration to the city, including military personnel serving in the city's naval and air bases, the establishment of a huge Amazon branch in the north of the city, the opening of 4 new Walmart stores, a continuous drop in unemployment - at least 3.5%,
Increasing the airport in the north of the city,
100 students from over 35 academic institutions.
From an average price of $ 148 per single in 2016,
The average price of a single in the city is 195 thousand dollars as of today -
Reflects an average increase of 31.7%.
An index of price increases in the city can be found at the following link:
Area Analysis:
Northern section -
32218, 32226, 32219, 32277
1- The northern part of the city is experiencing a rapid rise in property prices, especially in neighborhoods
COLLEGE PARK,
HIGHLANDS,
TURTLE CREEK
Biscayne terrace–
There is a very strong building momentum in the area, the proximity to the international airport and the new Amazon branch adds to the popularity of the place -
Properties there are rented relatively quickly in the span of two to one month and demand is high.
We mainly work in a focus area
32218,
32226,
32277.
Do not approach:
32219 - Essentially rural area with low demand for purchase / rental,
32220 - Same as above.
32208 - Mostly a problematic area with few pockets of good areas,
RIVERVIEW,
HARBORVIEW.
city center -
32211, 32277, 32205, 32207, 32204.
2 - Downtown - remains as popular as ever - proximity to major universities
FLORIDA NORTH UNIVERSITY
JACKSONVILLE UNIVERSITY
Leaves the area in high demand, like neighborhoods
RIVERSIDE
AVONDALE
SAN MARCO
PINE FOREST
FIVE POINTS
ARLINGTON
HILLCREST
The area is also saturated with very expensive houses in the historic area of the city -
With a crazy level of demand.
Do not approach:
Drugs and prostitution are mostly saturated with focus areas
32209, 32254, 32206, 32202.
Northeastern City -
32216, 32246, 32225
3 - Very popular mainly because of proximity to
TOWN CENTER -
The largest non-indoor mall in the US.
And the relative distance is not greater than the beach.
Properties in these areas are sold and leased at a very rapid rate -
And this is the hottest area in town at the level of Type B assets.
You can specify neighborhoods:
SAN'S SOUCI
GREENFIELD MANOR
WINDY HILL
SOUTHSIDE ESTATES
LAKEWOOD
GLYNLEA GROVE PARK!
the southern area of the city -
32217, 32257, 32256, 32258, 32223, 32212,
32244, 32210, 32222, 32221
4 - Southern City - Remains Popular As Always -
It is on the border of DUVAL County which belongs to Jacksonville to the county
CLAY
Which belongs to the ORANGE PARK neighborhood.
Prices there are lagging 10-15% of similar assets in the center and the north of the city and constitute suitable land for investors looking for an increase in the value of their assets in the future - because in our opinion the south will infect the center and the north. For the next two years.
We focus on focus areas there
32210, 32244,32257,32256, 32217 -
The place accommodates most of the Jewish population of the city with 2 Chabad houses.
The demand for rent is very high.
You can specify neighborhoods:
CEDAR HILLS
OAK HILL
MANDARIN!
NORAMNDY MANOR
BAYMEADOWS
SAINT JOSEPH
LORETTO
SUNBEAM
ARROWHEAD
CRAVEN
JACKSONVILLE HEIGHTS
Do not approach:
32073 - A Negative Immigrant Area with Difficult Transport and Exit Problems,
32234 - Rural area with low rent / purchase demand.
The near-coastal focus areas are already suitable for those who have the penny in their pocket and less for the existing investor.
Hope the overview helped those looking to invest in the city -
important to emphasize,
The theoretical review is only based on MAG's rich experience -
But not a substitute for thorough fieldwork in the city!
https://www.youtube.com/watch?v=Dz_k_jaEFPU&t=31s