$775,000 for a duplex. Run the numbers and it falls apart.
🎙️ Full Episode 339: tracyhayespodcast.com/339
Jacksonville's older neighborhoods — Avondale, Riverside, San Marco — have plenty of duplexes. That's the problem. They're desirable, so they're priced like it.
Marilyn Gilman's read: "The math doesn't math."
Take a duplex at $775,000. Run it at today's rates, plus insurance, plus taxes, as an investment property you can't homestead — unless you're going to live in one side.
Where she does see it work is four doors. She has a travel nurse looking for a quad right now, and a quad still falls under conventional financing.
Live in one, rent three. Lose a tenant and you're at a 25% vacancy rate instead of 100%.
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