St Johns SFR Portfolio

Highlights:

• 60 SFR Portfolio Offering | Stabilized
• 28% Discount to 2023-2024 Appraisals
• Renovated SFR Average | 2021
• Total CapEx Invested | $3,569,341
• Average CapEx Per SFR | $59,489
• Average Beds & Baths | Bedrooms 3.25 Baths 1.8
• 58 of 60 Homes On Sewer
• Full Term I/O Debt Available | Non Recourse
• Irreplaceable Price Per Square Foot | $111.85

Description:

INVESTMENT OVERVIEW

The St. Johns SFR Portfolio offers the opportunity to acquire a stabilized portfolio of 60 renovated single-family rental homes across North and Northwest Jacksonville for $8.25 million ($137,500 per home). The portfolio includes 73,757 SF on 8.79 acres, has received approximately $3.57 million in renovations (average renovation year 2021), and 58 of 60 homes are connected to sewer.

The portfolio is primarily composed of family-oriented housing, with 97% of homes offering three or more bedrooms and 95% occupancy. Current in-place rents generate approximately $1.03 million annually, producing $996,547 in effective gross income and $590,244 in NOI, representing a 7.15% cap rate at the asking price.

Under the quoted financing scenario, the investment generates an estimated 7.53% cash-on-cash return with 1.58x debt coverage. Modest rent growth and operational improvements increase projected NOI to $673,528, supporting an 8.16% pro forma cap rate and 10.42% cash-on-cash return.

Long-term projections indicate NOI growth to approximately $750,000 by Year 5 and $895,000 by Year 10, with cash-on-cash returns rising to 13.07% and 18.08%, respectively. The surrounding area continues to benefit from population growth, workforce housing demand, and public investment in neighborhood revitalization.

Located near Downtown Jacksonville with convenient access to major highways and employment centers, the portfolio is positioned to benefit from the city's diverse economy, expanding population, and ongoing redevelopment initiatives. Combined with stable in-place income, operational upside, and attractive projected exit scenarios, the St. Johns SFR Portfolio offers a compelling workforce housing investment opportunity in one of Florida's fastest-growing metropolitan markets.

LOCATION OVERVIEW

Jacksonville, Florida, the economic center of Northeast Florida, benefits from strong population growth, a diversified economy, and business-friendly fundamentals. Florida's population is projected to grow from approximately 23.4 million in 2025 to more than 26 million by 2035, while Duval County is expected to add nearly 119,000 residents during the same period.

The portfolio is centrally located within North and Northwest Jacksonville, providing convenient access to Downtown Jacksonville, I-95, I-10, I-295, and major employment corridors. Residents benefit from proximity to healthcare, government, logistics, finance, defense, and professional services employers.

Jacksonville's economy is anchored by major institutions including Baptist Health, Mayo Clinic, UF Health Jacksonville, CSX, Fidelity National Financial, Deutsche Bank, Jacksonville Naval Air Station, Naval Station Mayport, and JAXPORT, reinforcing long-term employment stability and housing demand.

Supported by continued population growth, infrastructure investment, and neighborhood revitalization, the portfolio's location provides a strong foundation for sustained workforce housing demand and long-term rental performance.

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