120 Ocean Hibiscus Dr #202 · Butler Beach, FL 32080

$329,000

2 bd · 2.0 ba · 851 sqft · Condo public records · 63 Days on market

Built 1998 $387/sqft · 38% below area Est $526k · 38% under $700/mo HOA · 24% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +6.7/30.0
• Schools +6.4/10.0
• 1% rule +3.9/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Ocean Hibiscus Resort! This charming oceanfront community offers a wide array of activities for the coastal enthusiast. The community's private access to the beach offers easy access for your day at the beach and sports the opportunity to also lounge around and play in the 3 private pools and 2 hot tubs. The community also boasts a tennis court, club house, and grilles scattered around the pool areas for the BBQ aficionados. The building also sports a rooftop deck with elevated 365-degree views of the surrounding area, perfect for firework viewing, or to see the lighthouse or ocean from this secluded and private area. This 2 Bed, 2 Bath condo comes fully furnished and is move in ready. Don't miss your chance to grab a piece of one of the best resorts on the beach in Saint Augustine!!

Key facts

• $700 HOA
• Built 1998
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $329k.

Deal economics

• At list price, monthly cash flow is $-530 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (28.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (11.1% below list).
• Recommended offer: $235k (28.5% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 2.2% in Butler Beach — 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 61/100 on livability (#784 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: health & safety C-, 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: W. Douglas Hartley Elementary (math 79% / reading 74%, grade A, #185 of 2,144 statewide, top 9%, 633 students, 42% FRL); Gamble Rogers Middle School (math 61% / reading 55%, grade B, #151 of 571 statewide, top 27%, 925 students, 47% FRL); Pedro Menendez High School (math 31% / reading 54%, grade F, #264 of 667 statewide, top 41%, 1,519 students, 39% FRL) — zoned schools average 43% FRL vs 20% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 59% at this address vs 74% district-wide (-15 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); 538 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $10k 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 63 days — a 6% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $207k; list at $329k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,392 (28.5% 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. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.90%
• DSCR: 0.69
• GRM: 9.4

CMA / ARV

• ARV (median comp): $526,495
• List price: $329,000
• Delta: -37.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -32.6%
• Equity multiple: -0.03×
• Total profit: $-95,237
• Equity at exit: $49,055

10-year hold

• IRR: -68.4%
• Equity multiple: -0.71×
• Total profit: $-157,906
• Equity at exit: $28,446

Cash invested: $92,120 (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: 538
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,923 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$277 /mo · $3,324/yr
• Insurance: −$137
• HOA: −$700
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $-530

Break-even live

Break-even rent $3,594

Max offer price $235,392

Occupancy floor —

Sensitivity live

Price	-10% $-344	-5% $-437	+0% $-530	+5% $-623	+10% $-716
Rent	-10% $-761	-5% $-645	+0% $-530	+5% $-414	+10% $-299
Rate	-1.0pp $-364	-0.5pp $-446	base $-530	+0.5pp $-615	+1.0pp $-702

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Ocean Hibiscus Dr Unit 1253536P St. Augustine, FL	2.0	2.0	904	$2,218	$2.45	0d	1	0.02mi
130 Ocean Hibiscus Dr Unit 1253546P St. Augustine, FL	2.0	2.0	968	$2,940	$3.04	0d	1	0.05mi
210 Ocean Hibiscus Dr Unit 1253509P St. Augustine, FL	2.0	2.0	1076	$5,686	$5.28	17d	1	0.15mi
1733 Sea Fair Dr Unit 1509620P St. Augustine, FL	2.0	2.5	1119	$3,076	$2.75	0d	1	0.49mi
95 Dondanville Rd Unit 1509619P St. Augustine, FL	2.0	2.0	1033	$3,018	$2.92	0d	1	0.63mi
4250 A1A S Unit 1538861P St. Augustine, FL	2.0	2.0	1033	$2,537	$2.46	0d	1	0.72mi

HOA detail condo

• Monthly dues: $700 · $8,400/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-22
   days on market $329,000 Active 63 DOM
2. 2026-06-21
   days on market $329,000 Active 62 DOM
3. 2026-06-18
   days on market $329,000 Active 59 DOM
4. 2026-06-17
   days on market $329,000 Active 58 DOM
5. 2026-06-16
   days on market $329,000 Active 57 DOM
6. 2026-06-15
   days on market $329,000 Active 56 DOM
7. 2026-06-13
   days on market $329,000 Active 54 DOM
8. 2026-06-13
   days on market $329,000 Active 53 DOM
9. 2026-06-10
   pricedays on market $329,000 Active 50 DOM
10. 2026-06-08
    days on market $339,000 Active 49 DOM
11. 2026-06-07
    days on market $339,000 Active 48 DOM
12. 2026-06-03
    days on market $339,000 Active 44 DOM
13. 2026-06-02
    days on market $339,000 Active 43 DOM
14. 2026-06-01
    days on market $339,000 Active 42 DOM
15. 2026-05-31
    days on market $339,000 Active 41 DOM
16. 2026-04-20
    listed $349,000 Active 809-char remark

    Show marketing remark (809 chars)

    Welcome to the Ocean Hibiscus Resort! This charming oceanfront community offers a wide array of activities for the coastal enthusiast. The community's private access to the beach offers easy access for your day at the beach and sports the opportunity to also lounge around and play in the 3 private pools and 2 hot tubs. The community also boasts a tennis court, club house, and grilles scattered around the pool areas for the BBQ aficionados. The building also sports a rooftop deck with elevated 365-degree views of the surrounding area, perfect for firework viewing, or to see the lighthouse or ocean from this secluded and private area. This 2 Bed, 2 Bath condo comes fully furnished and is move in ready. Don't miss your chance to grab a piece of one of the best resorts on the beach in Saint Augustine!!

17. 2018-03-14
    soldstatus $207,000
18. 2018-03-09
    soldstatus $207,000 Sold 551-char remark

    Show marketing remark (551 chars)

    Block Construction! Remodeled, 2nd floor condo featuring 2 bedrooms 2 bathrooms, a large living/dining area and private balcony. The master bedroom has private bath with a walk-in shower. Guest bath has a tub/shower combo. Fully applianced kitchen with new Frig, dishwasher and washer/dryer combo. Resort located in the middle of St. Augustine Beach, directly on the ocean with 3 pools, 2 hot tubs, a fitness center and tennis court. Great ocean view rooftop deck to enjoy an afternoon cocktail with friends. Great investment property or beach escape.

19. 2018-03-09
    soldstatus $207,000

    Show marketing remark (551 chars)

    Block Construction! Remodeled, 2nd floor condo featuring 2 bedrooms 2 bathrooms, a large living/dining area and private balcony. The master bedroom has private bath with a walk-in shower. Guest bath has a tub/shower combo. Fully applianced kitchen with new Frig, dishwasher and washer/dryer combo. Resort located in the middle of St. Augustine Beach, directly on the ocean with 3 pools, 2 hot tubs, a fitness center and tennis court. Great ocean view rooftop deck to enjoy an afternoon cocktail with friends. Great investment property or beach escape.

20. 2018-03-08
    status Pending 551-char remark

    Show marketing remark (551 chars)

    Block Construction! Remodeled, 2nd floor condo featuring 2 bedrooms 2 bathrooms, a large living/dining area and private balcony. The master bedroom has private bath with a walk-in shower. Guest bath has a tub/shower combo. Fully applianced kitchen with new Frig, dishwasher and washer/dryer combo. Resort located in the middle of St. Augustine Beach, directly on the ocean with 3 pools, 2 hot tubs, a fitness center and tennis court. Great ocean view rooftop deck to enjoy an afternoon cocktail with friends. Great investment property or beach escape.

21. 2018-03-06
    historical
22. 2018-01-29
    listed $209,900 Active 551-char remark

    Show marketing remark (551 chars)

    Block Construction! Remodeled, 2nd floor condo featuring 2 bedrooms 2 bathrooms, a large living/dining area and private balcony. The master bedroom has private bath with a walk-in shower. Guest bath has a tub/shower combo. Fully applianced kitchen with new Frig, dishwasher and washer/dryer combo. Resort located in the middle of St. Augustine Beach, directly on the ocean with 3 pools, 2 hot tubs, a fitness center and tennis court. Great ocean view rooftop deck to enjoy an afternoon cocktail with friends. Great investment property or beach escape.

23. 2017-12-21
    listed $209,900
24. 2013-05-14
    soldstatus $120,000
25. 2011-03-30
    historical
26. 2010-12-15
    listed $129,000

ⓘ 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: $3,324 · $277/mo
• Projected year-2 tax: $3,324 · $277/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 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 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: $35,081
• − Mortgage interest: −$18,429
• − Property taxes: −$3,324
• − Insurance: −$1,645
• − Repairs & maintenance: −$2,806
• − Management: −$2,806
• − HOA: −$8,400
• − Depreciation: −$9,571
• Taxable loss: −$11,901
• Est. tax savings @ 24.0%: +$2,856
• After-tax cash flow: $-3,502/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 — Butler Beach

• Score: 61/100
• State rank: #784
• US rank: #17810

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A- Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler Beach, FL
• County: Saint Johns County · 301,599 people
• City population: 21,368
• 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

+170.5% since first listed

11 events — show timeline

• 2026-04-20 Listed $349,000 realMLS
• 2018-03-14 Sold (Public Records) $207,000 Public Records
• 2018-03-09 Sold (MLS) $207,000 St. Augustine and St. Johns County Board of REALTORS®
• 2018-03-09 Sold (MLS) $207,000 realMLS
• 2018-03-08 Pending — realMLS
• 2018-03-06 Delisted — St. Augustine and St. Johns County Board of REALTORS®
• 2018-01-29 Listed $209,900 realMLS
• 2017-12-21 Listed $209,900 St. Augustine and St. Johns County Board of REALTORS®
• 2013-05-14 Sold (Public Records) $120,000 Public Records
• 2011-03-30 Listing Removed — realMLS
• 2010-12-15 Listed $129,000 realMLS

Property tax history

+7.8%/yr

Latest (2025): $3,324 · +11.8% YoY. Source: county tax records.