4616 Crescent St, Jacksonville, FL 32205

Here’s a comprehensive overview of the property at 4616 Crescent St, Jacksonville, FL 32205, incorporating the latest market data and refinancing considerations as of Monday, July 21, 2025:

Property Details:

• Address: 4616 Crescent St, Jacksonville, FL 32205
• Property Type: Single Family
• Bedrooms: 3 beds
• Bathrooms: 1 bath
• Square Footage: 1,050 sqft (living area)
• Lot Size: Approximately 4,998 – 5,000 sqft (around 0.11 acres)
• Estimated Refinance Payment: $1,594/mo (This is the payment provided in your input. This estimate seems reasonable for a loan in the mid-$200k range at current interest rates, assuming standard property taxes and insurance are included.)
• Built in: 1942 (83 years old)
• Stated Value: $235,900 (This value is consistent with current market estimates for this specific property and neighborhood.)
  • Zillow Zestimate®: $228,700
  • Realtor.com Estimate: $235,900 (matches your input value)
  • Redfin Estimate: $240,800
• Last Sale Price: The most recent public record of a sale for this property was $113,000 in May 2005. More recently, it was listed for sale in August 2022 for $269,000, with a price reduction to $254,000 in September 2022, before the listing was removed in October 2022.
• Tax History: Property taxes in 2024 were $696 (up from $688 in 2023). The assessed value in 2024 was $60,611. The discrepancy between the low assessed value and the higher market value indicates the property likely hasn’t been reassessed at its full market value since its last sale, which is beneficial for the current tax burden.

Additional Property Features and History:

• Interior Features: Includes a fireplace, and flooring consists of carpet, tile, and hardwood. Features central air and heating (forced air, electric).
• Appliances: Typically includes electric range and electric water heater.
• Exterior Features: Frame construction with an asphalt shingle roof. Features a fenced backyard.
• Parking: Benefits from a 1-car detached garage, plus ample on-street and driveway parking.
• Utilities: Connected to public sewer, public water, and electricity.
• Schools (Assigned):
  • Ruth N. Upson Elementary School (PK-5, 0.7 mi) – Rated 8/10, a highly-rated elementary option.
  • Lake Shore Middle School (6-8, 3.0 mi) – Rated 3/10.
  • Robert E. Lee High School (9-12, 1.4 mi) – Rated 3/10.

Jacksonville, FL (32205 Zip Code) Real Estate Market Trends (as of July 2025):

• Market Condition (32205): The 32205 zip code is currently categorized as a Buyer’s Market or “somewhat competitive.” This means that the supply of homes generally exceeds buyer demand, giving buyers (and those with equity looking to refinance) more negotiation leverage.
• Median Sold Home Price (32205):
  • $281,350 in June 2025, showing a 5.0% decrease compared to last year.
  • The median price per square foot in 32205 is $187, down 15.6% since last year.
• Average Home Value (32205): Approximately $265,833, which has seen a 4.3% decline over the past year (through May 31, 2025).
• Median Days on Market (32205): Homes are taking significantly longer to sell, with an average of 62-75 days on the market in June 2025, an increase from 41-51 days last year. This indicates a slowing pace of sales.
• Sales Activity (32205): The number of homes sold decreased in June 2025 (e.g., 42 homes sold, down 8.7% month-over-month).
• Sale-to-List Price Ratio (32205): A notable trend is that 69% of homes sold in June 2025 went for under the asking price, suggesting successful buyer negotiations. Only 5% sold above asking.
• Specific to 3-bedroom homes (32205): The median sold price was $278,500 in June 2025, down 2.3% year-over-year.

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

• Market Condition: Jacksonville as a whole is firmly a Buyer’s Market (ranked high nationally).
• Median Sold Price (City-wide): $303,089 in June 2025, down 1.4% from last year.
• Inventory: Active inventory is up 13% year-over-year, providing more choices for buyers.
• Days on Market: Average 59 days, up 26.8% year-over-year.

Current Mortgage Refinance Rates in Florida (as of Monday, July 21, 2025):

• 30-Year Fixed Refinance: Average APRs are currently around 6.83% – 6.95%.
• 15-Year Fixed Refinance: Average APRs are around 5.88% – 6.11%.
• 5-Year Adjustable-Rate Mortgage (ARM): Average APRs are around 7.06% – 7.42%.

Note: These are average rates and can vary based on individual borrower qualifications (credit score, debt-to-income ratio), specific lenders, and daily market fluctuations. APR (Annual Percentage Rate) includes some fees beyond the interest rate.

General Requirements for Refinancing a Loan in Florida:

• Home Equity (Loan-to-Value Ratio – LTV): Most lenders require an LTV of 80% or less for conventional refinances, meaning you need at least 20% equity in your home. For cash-out refinances, you can often borrow up to 80% of your home’s value (VA cash-out refinances can go up to 100%). A new appraisal will be required to determine the current market value and calculate your LTV.
• 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 premiums.
• Debt-to-Income (DTI) Ratio: Lenders typically look for a DTI of 43% or lower, though 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).

Analysis for this specific property:

The provided value of $235,900 for 4616 Crescent St is well-supported by current market estimates and is in line with the median home prices for 3-bedroom properties in the 32205 zip code. Given the last recorded sale in 2005 was significantly lower ($113,000), it’s highly probable the homeowner has substantial equity in the property. This strong equity position is a major advantage for refinancing, as it can lead to more favorable loan terms and potentially avoid Private Mortgage Insurance (PMI).

The estimated refinance payment of $1,594/mo seems a realistic figure for a refinance in this price range, considering current interest rates and the inclusion of taxes and insurance (which are relatively low due to the low assessed value).

While the 32205 zip code is experiencing a cooling market with decreasing median sale prices and longer days on market, the overall stability of interest rates and the homeowner’s likely strong equity position make this a good time to explore refinancing options.

It is strongly recommended that the homeowner:

1. Obtain a professional appraisal: This is a crucial step to confirm the precise current market value of the home and solidify the amount of available equity.
2. Verify their current loan balance: Understand the exact amount still owed on the existing mortgage.
3. Shop around for quotes from multiple lenders: Contact various banks, credit unions, and mortgage brokers. Compare not only the interest rates and APRs but also all associated closing costs.
4. Clearly define their refinancing objectives: Are they primarily aiming to lower their interest rate, reduce their monthly payment, switch from an adjustable to a fixed rate, or take cash out for home improvements or debt consolidation? Having clear goals will help them select the most appropriate refinance product.