89 Yellowfin Dr

World Golf Village, FL 32095

$384,000D-

4 bd · 2.0 ba · 1,653 sqft · Built 2021 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,894/mo
• Mortgage (P&I): −$2,014
• Tax + insurance: −$747
• HOA: −$37
• Vac / Maint / Mgmt: −$608
• Net cashflow: $-511/mo
• Annual: $-6,136/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.71%
• DSCR: 0.75
• 1% rule: 0.75%
• Cash to close: $107,520

Investor read

• This is a 4-bed/2.0-bath single-family listed at $384k.
• At list price, monthly cash flow is $-511 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (24.6% below list).
• It's been on market 34 days — a 3% lower offer ($372k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $289k (24.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#168 in FL, #2,512 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• 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: Palencia Elementary School (math 82% / reading 80%, grade A+, #95 of 2,144 statewide, top 5%, 781 students, 15% FRL); Pacetti Bay Middle School (math 77% / reading 72%, grade A, #40 of 571 statewide, top 7%, 1,443 students, 18% FRL); Allen D Nease Senior High School (math 72% / reading 78%, grade A-, #40 of 667 statewide, top 6%, 2,214 students, 4% FRL).
• Market conditions: Rents rising (+1.8%/yr); 461 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).
• St. Johns County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 4.7% vs local median 3.0% in World Golf Village — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.