22 Comares Ave #5B · St. Augustine, FL 32080

$225,000

2 bd · 1.5 ba · 832 sqft · Condo public records · 1 Days on market

Built 1966 $500/mo HOA · 20% of rent

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Why this score? — see what drove the D- 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 +8.2/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +5.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience coastal living at 22 Comares Ave, Unit 5B. Located on beautiful Anastasia Island, this fully remodeled condo puts you exactly where you want to be--just moments from the historic charm of downtown St. Augustine and the Atlantic shore. The interior features a sleek, modern kitchen, fresh flooring, and bright finishes that make the space feel both airy and polished. Whether you are looking for a vacation retreat, a full-time home, or a property to host guests, the layout is designed for ease and low-maintenance living. You'll be within reach of local boutiques, excellent dining, and all the character that makes the First Coast so special. Best of all, this property is short-term rental approved, making it a versatile choice for investors. It is rare to find a home that is truly move-in ready and this well-positioned. Schedule your private tour to see how this space fits into your future plans.

Key facts

• Pristine flooring
• Move in ready
• Ideally situated

Tags

• METICULOUSLY RENOVATED
• SOPHISTICATED KITCHEN
• PRISTINE FLOORING
• LOW MAINTENANCE LIVING
• MOVE IN READY
• IDEALLY SITUATED

Property features AI

Finance

• HOA & community: Homeowners association with a $500 monthly fee; Not a senior community

Exterior

• Parking: Parking lot
• Utilities: Public sewer; Electricity connected; Water connected; Cable available
• Home design: Condominium; One level entry; Single-story
• Exterior features: No private pool; Public sewer; Cable available; electricity, water and sewer connected

Interior

• Kitchen: Dishwasher; Electric cooktop; Microwave; Refrigerator
• Bedrooms: 2 bedrooms (one listed as Bedroom 2)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Eat-in kitchen; Open floor plan; 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-636 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (50.0% below list).
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $113k (50.0% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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 D — 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: Sebastian Middle School (math 59% / reading 59%, grade B, #144 of 571 statewide, top 26%, 654 students, 42% 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 40% FRL vs 20% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 58% at this address vs 74% district-wide (-16 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 soft (-1.0%/yr); 534 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago 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 $195k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 20% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,561 (50.0% below list)

Questions for the listing agent

1. 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?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 5.17%
• Cash-on-cash: -4.00%
• DSCR: 0.82
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -45.2%
• Equity multiple: -0.33×
• Total profit: $-83,507
• Equity at exit: $33,548

10-year hold

• IRR: —
• Equity multiple: -1.38×
• Total profit: $-149,939
• Equity at exit: $19,454

Cash invested: $63,000 (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 32080

• Rents YoY: -1.0%
• Active inventory: 534
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,446 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$369 /mo · $4,425/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$500
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-636

Break-even live

Break-even rent $3,252

Max offer price $112,561

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Flagler Blvd Saint Augustine, FL	1.0	1.0	644	$1,475	$2.29	16d	1	0.13mi
405 Flagler Blvd Unit 1281915P St. Augustine, FL	2.0	1.0	990	$2,770	$2.80	7d	1	0.13mi
83 Comares Ave Unit 4B Saint Augustine, FL	2.0	1.5	1006	$2,500	$2.49	23d	1	0.30mi
30 Magnolia Dr Unit 1281924P St. Augustine, FL	3.0	2.0	990	$3,722	$3.76	7d	1	0.33mi
251 Charlotte St Unit A St. Augustine, FL	2.0	1.0	746	$2,500	$3.35	23d	1	0.94mi
251 Charlotte St Unit B St. Augustine, FL	2.0	1.0	746	$2,900	$3.89	23d	1	0.94mi
11 Aviles St Unit 2B St. Augustine, FL	2.0	1.5	777	$2,500	$3.22	23d	1	0.98mi
260 Saint George St Unit 1 St. Augustine, FL	1.0	1.0	550	$1,495	$2.72	17d	1	1.03mi
260 Saint George St Unit 2 St. Augustine, FL	1.0	1.0	750	$1,599	$2.13	3d	1	1.03mi
46 Saint Francis St Saint Augustine, FL	2.0	2.0	999	$3,000	$3.00	21d	1	1.03mi
90 De Haven St Unit 1281966P St. Augustine, FL	2.0	1.5	796	$5,474	$6.88	2d	1	1.18mi
62 Dumas St Saint Augustine, FL	3.0	2.0	1022	$2,500	$2.45	23d	1	1.21mi
140B Martin Luther King Ave Unit 1281977P St. Augustine, FL	2.0	1.0	1097	$3,427	$3.12	1d	1	1.27mi
123 Moore St Unit 1281961P St. Augustine, FL	2.0	2.0	904	$3,119	$3.45	2d	1	1.32mi
259 Riberia St Unit A St. Augustine, FL	2.0	2.0	1115	$2,600	$2.33	23d	1	1.34mi
36 Weeden St Unit 1281973P St. Augustine, FL	2.0	1.5	957	$3,854	$4.03	7d	1	1.39mi
47 San Marco Ave Unit 1281909P St. Augustine, FL	1.0	1.0	592	$3,990	$6.74	2d	1	1.41mi
72 Abbott St Unit 1281926P St. Augustine, FL	1.0	1.5	796	$3,566	$4.48	1d	1	1.44mi
6 Rohde Ave Unit 1281954P St. Augustine, FL	1.0–2.0	1.0	613	$2,538	$4.14	3d	2	1.47mi
138 Oviedo St Unit A St. Augustine, FL	2.0	1.0	995	$1,695	$1.70	3d	1	1.49mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $225,000 Active 1 DOM

ⓘ 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: $4,425 · $369/mo
• Projected year-2 tax: $4,425 · $369/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $29,355
• − Mortgage interest: −$12,603
• − Property taxes: −$4,425
• − Insurance: −$6,244
• − Repairs & maintenance: −$2,348
• − Management: −$2,348
• − HOA: −$6,000
• − Depreciation: −$6,545
• Taxable loss: −$11,160
• Est. tax savings @ 24.0%: +$2,678
• After-tax cash flow: $-4,959/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

• Census place: St. Augustine, FL
• County: Saint Johns County · 301,599 people
• Metro: Jacksonville, FL
• Population (ZIP): 20,894
• Household income: $92,531
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 417.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -560.06%
• Current HPI: 301.5733
• Rent YoY: ▼ -0.97%
• 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

+514.8% since first listed

18 events — show timeline

• 2026-06-17 Listed $225,000 realMLS
• 2026-04-29 Listing Removed — realMLS
• 2026-03-09 Price Changed $229,000 realMLS
• 2026-01-27 Price Changed $235,000 realMLS
• 2025-12-30 Price Changed $239,000 realMLS
• 2025-12-08 Listed $247,000 realMLS
• 2024-04-10 Sold (Public Records) $195,000 Public Records
• 2024-04-04 Sold (MLS) $195,000 St. Augustine and St. Johns County Board of REALTORS®
• 2024-04-02 Pending — St. Augustine and St. Johns County Board of REALTORS®
• 2024-03-20 Contingent — St. Augustine and St. Johns County Board of REALTORS®
• 2024-03-07 Listed $225,000 St. Augustine and St. Johns County Board of REALTORS®
• 2024-03-04 Listing Removed — realMLS
• 2023-09-11 Listed $249,000 realMLS
• 2003-05-07 Sold (Public Records) $82,000 Public Records
• 2001-03-05 Sold (Public Records) $72,000 Public Records
• 1996-12-23 Sold (Public Records) $60,800 Public Records
• 1995-03-02 Sold (Public Records) $48,500 Public Records
• 1981-04-01 Sold (Public Records) $36,600 Public Records

Property tax history

+9.9%/yr

Latest (2025): $4,425 · +35.3% YoY. Source: county tax records.