2960 Adelaide Rd · Asbury Lake, FL 32043

$299,994

3 bd · 2.0 ba · 1,663 sqft · Land · 45 Days on market

Built 2026 5,227 sqft lot $10/mo HOA

---

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 +9.8/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.1/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This new single-story residence features an open-plan layout designed for modern living. A covered front porch leads into a well-equipped kitchen with a center island, while at the back are the dining room and a spacious living room. Nearby is a screened porch to extend activities outdoors. On the opposite side of the home are two secondary bedrooms and a serene owner's suite complete with an attached bathroom.

Key facts

• White cabinets
• Screened lanai
• Sprinkler system

Tags

• WHITE CABINETS
• CERAMIC WOOD-LOOK TILE
• SCREENED LANAI
• SPRINKLER SYSTEM
• ONE-YEAR BUILDER WARRANTY

Property features AI

Finance

• Other: Private pool: no (community pool available)
• HOA & community: Homeowners association with annual fee ($120/year); Community amenities include clubhouse, fitness center, playground, and trash service; Community uses a CDD fee

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Smoke detector(s)
• Utilities: Public sewer; Water connected; Electricity connected; Cable available; Windows with green energy efficiency
• Home design: Single-family residence; One level
• Construction: Fiber cement and frame construction; Shingle roof
• Exterior features: Covered, screened front porch; Patio/porch areas; Front and rear sprinkler systems; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Electric range; Microwave; Refrigerator; Ice maker
• Bedrooms: 3 bedrooms (all on the first floor)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric heat pump); Central air conditioning (electric)
• Interior features: Breakfast bar and breakfast nook; Entrance foyer; Kitchen island; Pantry; Primary bathroom with shower (no tub); Split bedroom floorplan; Walk-in closet(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $300k.

Deal economics

• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (24.1% below list).
• Recommended offer: $228k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.4% in Asbury Lake — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 61/100 on livability (#776 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A, crime A-; Watch: schools F, amenities F, commute F.
• Clay (suburban): math 58% / reading 59% proficiency, ranked #14 of 73 in FL (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 885 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 in 5+ unit buildings).
• This rent runs 32% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Clay County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($291k) 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.

Recommended offer $227,600 (24.1% 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 45 days. Have you received any prior offers? Is the seller open to a 24% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -23.7%
• Equity multiple: 0.21×
• Total profit: $-66,637
• Equity at exit: $44,730

10-year hold

• IRR: -27.0%
• Equity multiple: -0.14×
• Total profit: $-96,099
• Equity at exit: $25,938

Cash invested: $83,998 (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 32043

• Home prices YoY: -26.3%
• Rents YoY: 0.5%
• Active inventory: 885
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,276 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$284 /mo · $3,402/yr
• Insurance: −$125
• HOA: −$10
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-194

Break-even live

Break-even rent $2,521

Max offer price $265,777

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-109	+0% $-194	+5% $-279	+10% $-364
Rent	-10% $-373	-5% $-284	+0% $-194	+5% $-104	+10% $-14
Rate	-1.0pp $-43	-0.5pp $-117	base $-194	+0.5pp $-271	+1.0pp $-351

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: $74,998
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3549 Bella Sera Ln Green Cove Springs, FL	3.0	2.0	1464	$2,150	$1.47	24d	1	0.46mi
2935 Darlington Oak Rd Green Cove Springs, FL	3.0	2.5	2096	$2,350	$1.12	8d	1	0.72mi
2555 Bear Creek Way Green Cove Springs, FL	3.0	2.0	1655	$1,835	$1.11	24d	1	0.97mi
2506 Creekfront Dr Green Cove Springs, FL	4.0	2.0	1638	$2,554	$1.56	24d	1	0.99mi
2858 Buck Creek Pl Green Cove Springs, FL	3.0	2.0	1647	$1,829	$1.11	16d	1	1.02mi
2653 Fernleaf Dr Green Cove Springs, FL	4.0	2.0	1638	$2,005	$1.22	8d	1	1.04mi
2621 Fernleaf Dr Green Cove Springs, FL	4.0	2.0	1870	$2,135	$1.14	4d	1	1.06mi
2836 Cross Creek Dr Green Cove Springs, FL	3.0	2.0	1453	$1,880	$1.29	12d	1	1.29mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 15 events

1. 2026-06-18
   days on market $299,994 Active 45 DOM
2. 2026-06-17
   days on market $299,994 Active 44 DOM
3. 2026-06-16
   days on market $299,994 Active 43 DOM
4. 2026-06-15
   days on market $299,994 Active 42 DOM
5. 2026-06-13
   days on market $299,994 Active 40 DOM
6. 2026-06-13
   days on market $299,994 Active 39 DOM
7. 2026-06-09
   days on market $299,994 Active 36 DOM
8. 2026-06-08
   days on market $299,994 Active 35 DOM
9. 2026-06-07
   days on market $299,994 Active 34 DOM
10. 2026-06-03
    days on market $299,994 Active 30 DOM
11. 2026-06-02
    days on market $299,994 Active 29 DOM
12. 2026-06-01
    days on market $299,994 Active 28 DOM
13. 2026-05-31
    days on market $299,994 Active 27 DOM
14. 2026-05-05
    listed $299,994 Active 414-char remark

    Show marketing remark (414 chars)

    This new single-story residence features an open-plan layout designed for modern living. A covered front porch leads into a well-equipped kitchen with a center island, while at the back are the dining room and a spacious living room. Nearby is a screened porch to extend activities outdoors. On the opposite side of the home are two secondary bedrooms and a serene owner's suite complete with an attached bathroom.

15. 2026-05-04
    listed $299,994 Active

ⓘ 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: $3,402 · $284/mo
• Projected year-2 tax: $3,402 · $284/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

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

Taxation est. · year 1

• Rental income: $27,312
• − Mortgage interest: −$16,804
• − Property taxes: −$3,402
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − HOA: −$120
• − Depreciation: −$8,727
• Taxable loss: −$7,612
• Est. tax savings @ 24.0%: +$1,827
• After-tax cash flow: $-497/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: Clay
• NCES district ID: 1200300
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $59,379
• Composite: 50.73/100
• National rank: #1815
• State rank: #14 of 73 in FL

Livability — Asbury Lake

• Score: 61/100
• State rank: #776
• US rank: #17575

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Asbury Lake, FL
• County: Clay County · 208,450 people
• Metro: Jacksonville, FL
• Population (ZIP): 34,562
• Household income: $84,145
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 449.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 230,495 people
• By 2030: 242,427 · +5.2%
• By 2040: 262,244 · +13.8%
• By 2050: 275,148 · +19.4%
• By 2075: 295,397 · +28.2%
• By 2100: 287,592 · +24.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: +3.6pp toward D · 2008: -42.8pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.1 2016: R+44.3 2012: R+45.8 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.34%
• Current HPI: 301.3212
• Rent YoY: ▲ 0.46%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-05 Listed $299,994 Zillow
• 2026-05-04 Listed $299,994 realMLS