2670 Pleasure Ln · St. Augustine, FL 32084

$199,900

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 209 Days on market

Built 2022 0.32 ac lot $178/sqft · 20% below area Est $174k · 15% over

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.2/30.0
• DSCR +8.2/10.0
• Schools +6.4/10.0
• 1% rule +5.4/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

Key facts

• Manufactured home
• Spacious lot
• 2022 built

Tags

• 2022 BUILT
• MANUFACTURED HOME
• SPACIOUS LOT
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.1% in St. Augustine — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St. Johns (rural): math 75% / reading 73% proficiency, ranked #2 of 73 in FL (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: James A. Webster Elementary School (math 56% / reading 45%, grade D+, #1,055 of 2,144 statewide, top 50%, 504 students, 67% FRL); R J Murray Middle School (math 54% / reading 54%, grade B-, #196 of 571 statewide, top 36%, 695 students, 50% FRL); St. Augustine High School (math 54% / reading 62%, grade C, #120 of 667 statewide, top 18%, 1,784 students, 38% FRL) — zoned schools average 51% FRL vs 20% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 54% at this address vs 74% district-wide (-20 pts) — the specific schools serving this property underperform the St. Johns average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 636 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).
• This rent runs 34% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• St. Johns County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $200k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (median comp): $174,151
• List price: $199,900
• Delta: 14.79%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2660 Pleasure Ln	0.03mi	3/2.0	1,216 (+9%)	2mo	$205,000	$169	83
2785 Stratton Blvd	0.71mi	2/1.0 (-1)	996 (-11%)	3mo	$150,000	$151	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.25% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.83×
• Total profit: $-9,718
• Equity at exit: $29,806

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $6,004
• Equity at exit: $17,284

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32084

• Rents YoY: 0.2%
• Active inventory: 636
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,074 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$61 /mo · $738/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $445

Break-even live

Break-even rent $1,510

Max offer price $199,900

Occupancy floor 74%

Sensitivity live

Price	-10% $558	-5% $502	+0% $445	+5% $388	+10% $332
Rent	-10% $281	-5% $363	+0% $445	+5% $527	+10% $609
Rate	-1.0pp $546	-0.5pp $496	base $445	+0.5pp $393	+1.0pp $341

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2851 Golden Lake Loop Unit 2851 St. Augustine, FL	2.0	2.0	920	$1,595	$1.73	25d	1	0.68mi
105 Shields Ct Saint Augustine, FL	3.0	1.0–2.0	984	$2,265	$2.30	4d	22	0.71mi
319 Golden Lake Loop St. Augustine, FL	3.0	2.0	1354	$1,900	$1.40	25d	1	0.78mi
817 Golden Lake Loop Saint Augustine, FL	2.0	2.0	1147	$1,595	$1.39	5d	1	0.81mi
121 Oxmoor Rd St. Augustine, FL	1.0–3.0	1.0–2.0	1105	$2,525	$2.28	9d	23	1.07mi
1329 Truman Dr Saint Augustine, FL	3.0	2.0	1229	$2,030	$1.65	25d	1	1.25mi
2897 N 10th St Saint Augustine, FL	3.0	2.0	1046	$2,100	$2.01	25d	1	1.47mi

Listing history 23 events

1. 2026-06-21
   days on market $199,900 Active 209 DOM
2. 2026-06-18
   days on market $199,900 Active 206 DOM
3. 2026-06-17
   days on market $199,900 Active 205 DOM
4. 2026-06-16
   days on market $199,900 Active 204 DOM
5. 2026-06-15
   days on market $199,900 Active 203 DOM
6. 2026-06-13
   days on market $199,900 Active 201 DOM
7. 2026-06-13
   days on market $199,900 Active 200 DOM
8. 2026-06-10
   days on market $199,900 Active 197 DOM
9. 2026-06-08
   days on market $199,900 Active 196 DOM
10. 2026-06-07
    days on market $199,900 Active 195 DOM
11. 2026-06-03
    days on market $199,900 Active 191 DOM
12. 2026-06-02
    days on market $199,900 Active 190 DOM
13. 2026-06-01
    days on market $199,900 Active 189 DOM
14. 2026-05-31
    days on market $199,900 Active 188 DOM
15. 2026-05-15
    price $199,900 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

16. 2026-04-27
    status Active 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

17. 2026-04-13
    historical Active Under Contract 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

18. 2026-02-10
    price $205,000 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

19. 2026-02-10
    price $209,000 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

20. 2026-02-10
    price $205,000 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

21. 2025-11-24
    listed $209,000 Active 492-char remark

    Show marketing remark (492 chars)

    INVESTMENT OR FIRST TIME BUYER - This Nearly NEW 2022-built 2-bedroom, 2-bath manufactured home offers 780 sq ft of comfortable living space and sits on over a quarter acre. Conveniently located between I-95 and historic downtown St. Augustine, this property is ideal for first-time buyers or investors seeking a strong rental opportunity. Enjoy modern living, a spacious lot, and easy access to shopping, dining, beaches, and major roadways. Primary Residence or Income producing Opportunity

22. 2021-07-12
    soldstatus $60,000
23. 1998-12-31
    soldstatus $19,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $738 · $61/mo
• Projected year-2 tax: $1,659 · $138/mo
• Expected delta: +$921/yr (+$77/mo · 124.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,882
• − Mortgage interest: −$11,198
• − Property taxes: −$738
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,991
• − Management: −$1,991
• − Depreciation: −$5,815
• Taxable income: $2,151
• Est. tax owed @ 24.0%: −$516
• After-tax cash flow: $4,824/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: St. Johns
• NCES district ID: 1201740
• Math proficiency: 75% ▼ -5.00%
• Reading proficiency: 73% ▼ -2.00%
• Median HH income: $66,842
• Composite: 64.31/100
• National rank: #556
• State rank: #2 of 73 in FL

Livability — St. Augustine

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Saint Johns County · 301,599 people
• Metro: Jacksonville, FL
• Population (ZIP): 37,291
• Household income: $73,837
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1748.0

Population outlook (St. Johns County) Hauer SSP2

• Today (2025): 303,941 people
• By 2030: 342,590 · +12.7%
• By 2040: 417,328 · +37.3%
• By 2050: 487,011 · +60.2%
• By 2075: 635,395 · +109.1%
• By 2100: 717,469 · +136.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 12% Black 11% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 1%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · St. Johns

• 2024 margin: Solid R (+31.4) · D 33.9% · R 65.2%
• 2008→2024 swing: +0.2pp no change · 2008: -31.6pp · 2024: -31.4pp
• All cycles: 2024: R+31.4 2020: R+26.7 2016: R+33.4 2012: R+37.8 2008: R+31.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -287.02%
• Current HPI: 330.9505
• Rent YoY: ▲ 0.25%
• Metro: Jacksonville, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+925.1% since first listed

9 events — show timeline

• 2026-05-15 Price Changed $199,900 realMLS
• 2026-04-27 Relisted — realMLS
• 2026-04-13 Contingent — realMLS
• 2026-02-10 Price Changed $205,000 realMLS
• 2026-02-10 Price Changed $209,000 realMLS
• 2026-02-10 Price Changed $205,000 realMLS
• 2025-11-24 Listed $209,000 realMLS
• 2021-07-12 Sold (Public Records) $60,000 Public Records
• 1998-12-31 Sold (Public Records) $19,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $738 · +19.9% YoY. Source: county tax records.