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514 2ND Street S
Jacksonville Beach, FL

514 2ND Street S

$1,050,000
4 bd • 3 ba • 1,922 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$1,050,000

Price/Sq.Ft

$546

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 514 2ND Street S, Jacksonville Beach, FL 32250 boasts several positive attributes. Its location in Jacksonville Beach is prime, likely within walking distance to the beach (exact distance unknown but typically within 0.5 miles in this area). The house offers 4 bedrooms and 3 bathrooms in 1,922 sqft, which is 12.8% larger than the average 3-bedroom rental in the area (1,710 sqft). At $546.31/sqft, it's priced competitively for the area, considering its size and location. The property features a two-story design with a garage, balcony, and appears to be relatively new or recently renovated based on its modern coastal aesthetic. The bright yellow and teal exterior is eye-catching and fits well with the beach community vibe, potentially increasing its curb appeal and rental potential.

The Bad

The price point of $1,050,000 is significantly above the median income for the area ($95,474), which may limit the pool of potential buyers. The lack of specific features listed and absence of a property description make it difficult to fully assess the property's amenities and condition. The price per square foot ($546.31) is relatively high, which could be justified by location and condition, but without more details, it's hard to determine if this represents good value. The property's age is unknown, which raises questions about potential maintenance issues and the age of major systems (HVAC, roof, etc.).

The Ugly

Jacksonville Beach is in a high-risk flood zone, which necessitates mandatory flood insurance for mortgaged properties. This could add significantly to the monthly costs, potentially $200-$400 per month or more. The coastal location also exposes the property to hurricane risks, which may result in higher insurance premiums and potential evacuation costs. Long-term concerns include coastal erosion and sea level rise, which could impact property value over time. The salty air can accelerate corrosion on exterior fixtures and appliances, potentially leading to higher maintenance costs. Without knowing the specific HOA fees and regulations (if any), there could be additional financial burdens and restrictions on property use or rentals.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for buyers with a household income of $250,000+ annually, based on traditional mortgage qualification standards. It's ideal for families or individuals who prioritize beach proximity and desire a spacious home in a vibrant coastal community. The property could also appeal to investors looking for short-term rental opportunities, given Jacksonville Beach's popularity as a tourist destination. The modern aesthetic and apparent good condition make it attractive for those seeking a move-in ready property with potential for immediate rental income.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets, given its high price point. It's also not ideal for investors seeking low-maintenance, low-cost rental properties due to the potential for high insurance and maintenance costs associated with coastal living. Buyers uncomfortable with the risks associated with coastal properties (hurricanes, flooding, erosion) should look elsewhere. Those seeking a quiet, non-tourist area would likely find the location unsuitable, especially during peak seasons.
Demographics
Area Median Income

$95,474

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Risk Assessment

Risk Analysis

Major risks include flood and hurricane damage, with mandatory flood insurance adding to ownership costs. Long-term risks involve coastal erosion and sea-level rise, which could impact property value and insurability. The unknown age of the property raises concerns about potential hidden maintenance issues or upcoming major system replacements. The high price point relative to local median income suggests potential for market volatility, especially if economic conditions change. Seasonal tourism fluctuations could impact rental income stability if used as an investment property. Potential for stricter building codes or zoning changes in response to climate change could affect future renovations or rebuilding options.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$895,328

-14.7% below list price

Median Price

$750,000

Based on 6 recent sales

Price per Sq.Ft

$446

Comparable Properties

820 5TH Avenue S, Jacksonville Beach, FL 32250
Price: $499,000
Sq.Ft: 1,882
Beds/Baths: 3/3
$/Sq.Ft:
$26551.5%
Sale Date: 11/19/2024
733 12TH Avenue S, Jacksonville Beach, FL 32250
Price: $757,100
Sq.Ft: 1,967
Beds/Baths: 4/3
$/Sq.Ft:
$38529.5%
Sale Date: 11/7/2024
1401 1ST Street S #203, Jacksonville Beach, FL 32250
Price: $1,925,868
Sq.Ft: 2,195
Beds/Baths: 3/3
$/Sq.Ft:
$87760.6%
Sale Date: 12/15/2024
786 9TH Avenue S, Jacksonville Beach, FL 32250
Price: $740,000
Sq.Ft: 1,847
Beds/Baths: 3/3
$/Sq.Ft:
$40126.7%
Sale Date: 10/30/2024
740 9TH Avenue S, Jacksonville Beach, FL 32250
Price: $750,000
Sq.Ft: 1,847
Beds/Baths: 3/3
$/Sq.Ft:
$40625.7%
Sale Date: 10/30/2024
945 GONZALES Avenue, Jacksonville Beach, FL 32250
Price: $700,000
Sq.Ft: 2,034
Beds/Baths: 4/3
$/Sq.Ft:
$34437.0%
Sale Date: 10/22/2024

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