Are Jacksonville home prices expected to drop further?

Nobody can honestly promise a specific direction. Prices are down modestly year over year, not falling sharply, and the market is described as balanced to slightly seller-favoring by most current reporting — not a buyer's market in the way the term usually implies.

How many days does it actually take to buy a house in Jacksonville right now?

It depends heavily on the specific home. Current data shows a real split: well-priced homes in strong areas can go under contract in under two weeks, while others sit for three months or more. The citywide average sits somewhere in between and can be misleading on its own.

Is Jacksonville still a buyer's market or a seller's market?

Most current data puts it close to balanced, with a slight lean toward sellers overall — but this varies meaningfully by neighborhood and price point, which is why a citywide label only tells part of the story.

Should I wait for mortgage rates to drop before buying?

That's a real financial trade-off, not a simple yes or no — rates have actually trended up, not down, through this fall. A monthly-payment conversation based on your actual numbers is more useful than a guess about where rates go next.

116 W 7TH Street, Jacksonville, FL 32206 (MLS# 2161814)

116 W 7TH Street, Jacksonville, FL 32206

$442,000

116 W 7th Street Duplex in Jacksonville, FL 32206

Property Type: Residential Income Bedrooms: 4 Baths: 2 Square Footage: 2,624 Lot Size (sq. ft.): 2,614 Status: Active

Current Price: $442,000 List Date: 8/25/2026 Last Modified: 10/23/2026

Overview

Description

Built in 1912 by J.R. Dickerson. Both units are leased, income starts the day you close. Upstairs is renting at $1,575 a month through 10/31/27, downstairs at $1,630 through 8/30/27. That's $3,205 a month in gross rent with zero vacancy gap and no lease-up period. This duplex on W 7th has original heart of pine floors, fireplaces, and a butler's pantry with 3 built-ins still doing their job as a prep station and storage. Covered porches on both levels, two blocks from Main Street in Historic Springfield. Electrical and plumbing have been updated. 4-point insurance inspections are available on request. Investors ask about DSCR loan options. Priced below recent comp range for the neighborhood, this one makes sense off the bat.

Listing Details MLS# 2161814

General Property Information

Number Of Buildings: Yes
Number Of Units Total: 2
Bedrooms Total: 4
Bathrooms Total: 2
Bathrooms Full: 2
Living Area: 2624
Living Area Source: Public Records
Accessibility Features YN: No
New Construction YN: No
Year Built: 1912
Garage YN: No
Carport YN: No
Lot Size Acres: 0.06
Lot Size Dimensions: 33X67
Association YN: No
CDD Fee YN: No
Pool Private YN: No
Water Body Access YN: No
Waterfront YN: No
Furnished: Unfurnished
Stories Total: 2
Stories: Yes
Direction Faces: North
Senior Community YN: No
Directions: From I95, take the 8th St exit and go east past UF Health. Take a right on Silver and a left on 7th. Duplex will be on your right.
Public Remarks: Built in 1912 by J.R. Dickerson. Both units are leased, income starts the day you close. Upstairs is renting at $1,575 a month through 10/31/27, downstairs at $1,630 through 8/30/27. That's $3,205 a month in gross rent with zero vacancy gap and no lease-up period. This duplex on W 7th has original heart of pine floors, fireplaces, and a butler's pantry with 3 built-ins still doing their job as a prep station and storage. Covered porches on both levels, two blocks from Main Street in Historic Springfield. Electrical and plumbing have been updated. 4-point insurance inspections are available on request. Investors ask about DSCR loan options. Priced below recent comp range for the neighborhood, this one makes sense off the bat.
List Price/SqFt: 168.45

Property Features

Appliances: Dishwasher; Electric Range; Microwave; Refrigerator; Tankless Water Heater Cooling: Central Air Current Use: Investment; Multi-Family; Residential Exterior Features: Balcony Fencing: Back Yard Flooring: Wood Heating: Central Listing Terms: Cash; Conventional Lot Features: Historic Area Owner Pays: Hot Water; Water Parking Features: On Street Possession: Close Of Escrow; Subject To Tenant Rights Sewer: Public Sewer Tenant Pays: Cable TV; Electricity Utilities: Electricity Connected; Sewer Connected; Water Connected Water Source: Public

Contract Information

Listing Contract Date: 2026-08-18
Property Sub Type: Duplex

Location Tax and Legal

Street Number: 116
Street Direction Prefix: W
Street Name: 7TH
Street Suffix: Street
County: Duval
State: FL
Postal Code: 32206
Subdivision Name: Springfield
MLS Area Major: 072-Springfield

Status Change Information

Major Change Timestamp: 2026-10-22T19:09:41Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-10-22T19:09:41Z

Currently Not Used

Property Attached YN: No
yn11: No

More Information

Fireplace Features

Fireplaces Total: 2

Unit 1 Details

Unit ID: 116
Actual Rent: 1630
Unit SqFt: 1130
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: None

Unit 2 Details

Unit ID: 114
Actual Rent: 1575
Unit SqFt: 1339
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: None

Documents

Seller Favorites ›

Utility Information Sheet ›

Listing Office: COWFORD REALTY & DESIGN LLC

Last Updated: October - 23 - 2026

Information deemed reliable but not guaranteed.

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Zelda Greenberg is a real estate agent affiliated with Legacy Realty Group North Florida, Inc., a licensed real estate brokerage that abides by equal housing opportunity laws. This is not intended to solicit property already listed. All material presented is intended for informational purposes only. Information is compiled from sources that are deemed reliable but subject to price changes, condition, sale, withdrawal, and errors & omissions.

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