2548 Hugh Edwards Dr, Jacksonville, FL 32210

Here’s an overview of the property at 2548 Hugh Edwards Dr, Jacksonville, FL 32210, along with current Jacksonville real estate market trends and general refinancing information for Florida:

Property Details:

• Address: 2548 Hugh Edwards Dr, Jacksonville, FL 32210
• Property Type: Single Family
• Bedrooms: 4 beds
• Bathrooms: 2 baths
• Square Footage: 1,346 sqft (living area)
• Lot Size: 8,083 sqft
• Estimated Refinance Payment: $1,433/mo
• Built in: 1962
• Price/Value: $140,000 (This is the value provided in your input. Public records show a recent sale for $211,000 in December 2022. Zillow’s “Zestimate” is $200,500 for this property.)

Additional Property Features and History (based on public records and recent listings for similar properties):

• Recent Renovations: A similar property at 2524 Hugh Edwards Dr (same street, built in 1962) was recently renovated with new roof (2022), fresh paint, open concept living space, granite countertops, new cabinets, tile/vinyl plank flooring, and renovated bathrooms. It’s highly probable that this property, being built in the same era and having a significantly lower stated value than comparable properties, may have undergone or needs similar updates.
• Construction: Concrete block and concrete construction.
• Roof: Shingle roof.
• Heating/Cooling: Central Air, Electric.
• Appliances: Dishwasher, Electric Cooktop, Electric Range, Electric Water Heater, Refrigerator (based on similar properties in the area).
• Parking: Carport.
• Fireplace: Yes, this home has a fireplace.
• Tax History: Property taxes in 2024 were $683.

Jacksonville, FL Real Estate Market Trends (as of July 2025):

• Market Condition: Jacksonville is currently considered a Buyer’s Market and is even ranked as the #5 best buyer’s market in America. This means there’s more inventory than buyers, giving buyers more negotiation power.
• Median Home Price (Duval County): $304,130, which is a slight decrease of -0.5% since last year.
• Median Sold Price (Jacksonville): $303,089 in June 2025, down 1.4% from last year.
• Average Home Value (Jacksonville): Around $290,108, down 3.8% over the past year (through June 30, 2025, Zillow).
• Inventory: Active inventory is up 13% year-over-year, with over 12,000 properties for sale. This indicates more choices for buyers.
• Days on Market: Homes are staying on the market longer, with an average of 63 days (up 21% from last year).
• Sales Activity: Homes sold in Northeast Florida decreased by 5% compared to June 2024. Pending sales are down 31%.
• Sale Ratio: Sellers outnumber buyers 5:1 in Jacksonville.
• Price per Square Foot: The median price per square foot was $186 in June 2025.

Current Mortgage Interest Rates in Florida (as of Sunday, July 20, 2025):

• 30-Year Fixed Mortgage: Average APRs are around 6.84% – 6.88%.
• 15-Year Fixed Mortgage: Average APRs are around 5.90% – 6.02%.
• 5-Year ARM: Average APRs are around 7.108% – 7.415%.

Note: These are average rates and are subject to change based on market conditions, specific lenders, and individual borrower qualifications. APR (Annual Percentage Rate) includes some fees beyond the interest rate.

General Requirements for Refinancing a Loan in Florida:

• Credit Score: A minimum FICO score of 620 is generally needed for conventional loans. Higher scores (740+) typically qualify for the best rates. FHA loans may offer lower minimums (e.g., 500-580+), but come with specific mortgage insurance requirements.
• Home Equity (Loan-to-Value Ratio – LTV): Most lenders prefer an LTV of 80% or less for conventional refinances (meaning you have at least 20% equity in your home). For cash-out refinances, you can often borrow up to 80% of your home’s value, or even 100% for VA cash-out refinances. A new appraisal will be required to determine the current market value and calculate your LTV.
• Debt-to-Income (DTI) Ratio: Lenders typically look for a DTI of 43% or lower, although some programs (like FHA) may allow up to 50%.
• Property Occupancy: The home is generally required to be your primary residence, and at least one borrower must occupy it within 60 days of closing.
• Stable Income and Employment: You’ll need to provide documentation such as pay stubs, W-2 forms, and tax returns to prove a consistent income and employment history.
• Closing Costs: Expect to pay 2% to 6% of the new loan amount in closing costs. These can sometimes be rolled into the new loan, but doing so will increase your loan amount and total interest paid over time.
• Mortgage Insurance (PMI): If your LTV is above 80% on a conventional loan, you will likely be required to pay Private Mortgage Insurance (PMI).

The estimated refinance payment of $1,433/mo and the stated property value of $140,000 for 2548 Hugh Edwards Dr are notably lower than current market trends and recent sale prices for comparable properties in Jacksonville. This could imply a significant amount of equity if the property is indeed worth closer to $200,000 or more, which would be highly favorable for refinancing. It’s crucial for the homeowner to verify the current appraised value of their home and obtain personalized refinance quotes from several lenders to determine the best financial strategy.