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.

466 LOMBARD Street, Orange Park, FL 32073 (MLS# 2048986)

466 LOMBARD Street, Orange Park, FL 32073

$485,000

Property Type: Residential Income Bedrooms: 8 Baths: 8 Square Footage: 3,686 Lot Size (sq. ft.): 12,632 Status: Closed

Current Price: $485,000 List Date: 9/24/2024 Last Modified: 3/25/2026

Overview

Description

Don't miss out on this incredible investment opportunity! This well-maintained quadplex features three recently renovated units, each offering 2 spacious bedrooms and 1.5 bathrooms. These upgraded units boast modern finishes throughout, including updated kitchens and bathrooms, in-unit laundry for tenant convenience, and plenty of natural light. With off-street parking available for each tenant, this property is ideal for attracting long-term renters. Whether you're a seasoned investor or looking to expand your portfolio, this property offers immediate cash flow!

Listing Details MLS# 2048986

General Property Information

Number Of Units Total: 4
Bedrooms Total: 8
Bathrooms Total: 8
Bathrooms Full: 4
Bathrooms Half: 4
Living Area: 3686
New Construction YN: No
Year Built: 1981
Garage YN: No
Carport YN: No
Lot Size Acres: 0.29
CDD Fee YN: No
Pool Private YN: No
Water Body Access YN: No
Directions: From I295 and Blanding Blvd., south on Blanding Blvd., right onto Meadowbrook Drive and right onto Lombard St.
Public Remarks: Don't miss out on this incredible investment opportunity! This well-maintained quadplex features three recently renovated units, each offering 2 spacious bedrooms and 1.5 bathrooms. These upgraded units boast modern finishes throughout, including updated kitchens and bathrooms, in-unit laundry for tenant convenience, and plenty of natural light. With off-street parking available for each tenant, this property is ideal for attracting long-term renters. Whether you're a seasoned investor or looking to expand your portfolio, this property offers immediate cash flow!
List Price/SqFt: 135.38
Sold Price/SqFt: 131.58

Property Features

Appliances: Dishwasher; Electric Oven; Electric Range; Microwave; Refrigerator Cooling: Central Air Current Use: Multi-Family; Residential Flooring: Vinyl Heating: Central Listing Terms: Cash; Conventional Lot Features: Other Owner Pays: Common Area Maintenance; Exterior Maintenance; Pest Control; Trash Collection Parking Features: Off Street; Parking Lot Pool Features: None Possession: Close Of Escrow Road Frontage Type: City Street Road Surface Type: Asphalt Roof: Shingle Security Features: Smoke Detector(s) Tenant Pays: All Utilities Utilities: Electricity Available; Water Available Water Source: Public

Contract Information

Listing Contract Date: 2024-09-24
Property Sub Type: Quadruplex

Location Tax and Legal

Street Number: 466
Street Name: LOMBARD
Street Suffix: Street
County: Clay
State: FL
Postal Code: 32073
Subdivision Name: Cedar Bend
MLS Area Major: 131-Meadowbrook/Loch Rane

Status Change Information

Major Change Timestamp: 2025-01-03T15:41:06Z
Major Change Type: Status Change
Price Change Timestamp: 2024-11-20T15:28:11Z
Purchase Contract Date: 2024-11-25
Close Date: 2025-01-02
Close Price: 485000

Unit 1 Details

Unit ID: A
Unit SqFt: 922
Full Baths Total: Yes
Half Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Vacant

More Information

Unit 2 Details

Unit ID: B
Actual Rent: 1095
Unit SqFt: 922
Full Baths Total: Yes
Half Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Occupied

Unit 3 Details

Unit ID: C
Actual Rent: 910
Unit SqFt: 922
Full Baths Total: Yes
Half Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Occupied

Unit 4 Details

Unit ID: D
Actual Rent: 995
Unit SqFt: 922
Full Baths Total: Yes
Half Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Occupied

Listing Office: HETH REALTY, INC.

Last Updated: March - 25 - 2026

Broker Attribution: [email protected]

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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