624 Palmetto Pl · Yulee, FL 32097

$409,000

3 bd · 2.0 ba · 1,627 sqft · SingleFamily · 73 Days on market

Built 2022 5,662 sqft lot Est $392k · at est. $100/mo HOA · 4% 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).

• Appreciation +10.0/10.0
• Cash flow +6.3/30.0
• Schools +6.0/10.0
• ARV discount +5.6/15.0
• Livability +3.3/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.6/10.0

Listing remarks MLS

Sold comp stat purposes only

Key facts

• Spacious backyard
• Quiet cul-de-sac
• Scenic walking trail

Tags

• QUIET CUL-DE-SAC
• SCENIC WALKING TRAIL
• DURABLE LVT FLOORING
• STUNNING QUARTZ COUNTERTOPS
• PRIVATE REAR-ENTRY GARAGE
• SPACIOUS BACKYARD

Property features AI

Finance

• Financial info: Association fee charged semi-annually
• HOA & community: Homeowners association with community amenities; Community amenities include basketball court, dog park, jogging path, park, pickleball, playground, and tennis courts; Sidewalks in the community; CDD fee applies

Exterior

• Parking: Attached garage with garage door opener; 2-car garage
• Security: Smoke detectors
• Utilities: Public sewer; Water connected; Sewer connected; Electricity connected; Natural gas connected; Cable available
• Home design: Single family residence; One story
• Construction: Composition siding; Frame construction; Shingle roof
• Exterior features: Covered, screened patio; Patio; Sprinklers in front and rear; Located on a cul-de-sac; City street frontage; Paved road

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas range; Ice maker; Refrigerator; Kitchen island; Pantry; Eat-in kitchen
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric); Thermostat (energy efficient feature)
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; Kitchen island; Open floorplan; Pantry; Primary bathroom with shower (no tub); Split bedroom layout; Walk-in closets
• Laundry & utility: In-unit laundry; Electric dryer hookup; Washer; Dryer; Laundry sink; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $409k.

Deal economics

• At list price, monthly cash flow is $-735 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (31.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (34.4% below list).
• Recommended offer: $268k (34.4% below list) — sets the bar for 1% rule.
• Cap rate 4.1% vs local median 3.3% in Yulee — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#605 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B+; Watch: amenities F, commute F, health & safety F.
• Nassau (town): math 74% / reading 65% proficiency, ranked #4 of 73 in FL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 601 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 953 units permitted in Nassau County in 2024 (24 in 5+ unit buildings).
• This rent runs 35% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $44k of equity ($3k loan paydown + $41k appreciation (10.0% local appreciation)).
• Nassau County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$70k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($384k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $354k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $268,218 (34.4% 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 73 days. Have you received any prior offers? Is the seller open to a 34% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-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?
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 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: 0.66% ✗
• Cap rate: 4.14%
• Cash-on-cash: -7.70%
• DSCR: 0.66
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $392,107
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
632 Palmetto Pl	0.01mi	3/2.0	1,727 (+6%)	3mo	$405,000	$235	87
230 Julep St	0.13mi	3/2.0	1,491 (-8%)	3mo	$325,000	$218	78
117 Redbud Ln	0.22mi	3/2.5	1,740 (+7%)	1mo	$416,000	$239	75
250 Daydream Ave	0.19mi	3/2.0	1,864 (+15%)	1mo	$413,325	$222	66
769 Del Webb Pkwy	0.50mi	2/2.0 (-1)	1,581 (-3%)	2mo	$476,916	$302	65
638 Ecliptic Loop	0.66mi	2/2.0 (-1)	1,600 (-2%)	3mo	$464,440	$290	59
636 Del Webb Pkwy	0.56mi	2/2.0 (-1)	1,529 (-6%)	2mo	$364,090	$238	57
564 Jubilee Cir	0.74mi	3/2.0	1,542 (-5%)	1mo	$320,000	$208	56
787 Ecliptic Loop	0.68mi	2/2.0 (-1)	1,581 (-3%)	3mo	$464,040	$294	56
479 Jubilee Cir	0.71mi	2/2.0 (-1)	1,542 (-5%)	1mo	$371,000	$241	52
777 Del Webb Pkwy	0.51mi	3/2.0	1,405 (-14%)	4mo	$472,040	$336	50
493 Continuum Loop	0.74mi	2/2.0 (-1)	1,812 (+11%)	2mo	$492,000	$272	40

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

Projected returns pro-forma

10.0% appreciation · 2.88% rent growth · sell at horizon

5-year hold

• IRR: 18.8%
• Equity multiple: 2.53×
• Total profit: $175,689
• Equity at exit: $368,460

10-year hold

• IRR: 17.4%
• Equity multiple: 5.83×
• Total profit: $553,636
• Equity at exit: $794,597

Cash invested: $114,520 (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 32097

• Home prices YoY: 19.5%
• Rents YoY: 2.9%
• Active inventory: 601
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,682 high
• Mortgage (P&I): −$2,145
• Tax from tax record: −$438 /mo · $5,261/yr
• Insurance: −$170
• HOA: −$100
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $-735

Break-even live

Break-even rent $3,612

Max offer price $279,202

Occupancy floor —

Sensitivity live

Price	-10% $-503	-5% $-619	+0% $-735	+5% $-851	+10% $-966
Rent	-10% $-947	-5% $-841	+0% $-735	+5% $-629	+10% $-523
Rate	-1.0pp $-529	-0.5pp $-631	base $-735	+0.5pp $-841	+1.0pp $-949

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: $102,250
• Closing costs: $12,270
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Blue Daze St Yulee, FL	3.0	2.5	2038	$2,595	$1.27	25d	1	0.13mi
213 Daydream Ave Yulee, FL	3.0	2.5	1876	$2,950	$1.57	25d	1	0.14mi
125 Daydream Ave Yulee, FL	1.0–2.0	1.0–2.0	897	$2,049	$2.28	3d	11	0.29mi
549 Wildlight Ave Yulee, FL	1.0–3.0	1.0–2.0	988	$2,245	$2.27	3d	32	0.61mi
305 Whitby Dr Yulee, FL	1.0–3.0	1.0–2.5	1279	$2,815	$2.20	3d	45	0.62mi
722 Cool Breeze Way Yulee, FL	2.0	2.0	1541	$3,100	$2.01	23d	1	0.85mi
719 Cool Breeze Way Yulee, FL	3.0	2.0	1575	$2,995	$1.90	13d	1	0.89mi
74700 Mills Preserve Cir Yulee, FL	1.0–3.0	1.0–2.0	1127	$2,025	$1.80	25d	1	1.11mi
8701 Hillpointe Cir Yulee, FL	2.0	2.0	1170	$1,647	$1.41	9d	15	1.47mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 21 events

1. 2026-06-21
   days on market $409,000 Active 73 DOM
2. 2026-06-18
   days on market $409,000 Active 70 DOM
3. 2026-06-17
   days on market $409,000 Active 69 DOM
4. 2026-06-16
   days on market $409,000 Active 68 DOM
5. 2026-06-15
   days on market $409,000 Active 67 DOM
6. 2026-06-13
   days on market $409,000 Active 65 DOM
7. 2026-06-13
   days on market $409,000 Active 64 DOM
8. 2026-06-09
   days on market $409,000 Active 61 DOM
9. 2026-06-08
   days on market $409,000 Active 60 DOM
10. 2026-06-07
    days on market $409,000 Active 59 DOM
11. 2026-06-05
    days on market $409,000 Active 56 DOM
12. 2026-06-03
    days on market $409,000 Active 55 DOM
13. 2026-06-02
    days on market $409,000 Active 54 DOM
14. 2026-06-01
    days on market $409,000 Active 53 DOM
15. 2026-05-31
    days on market $409,000 Active 52 DOM
16. 2026-04-24
    price $409,000
17. 2026-04-09
    listed $415,000 Active
18. 2022-05-27
    soldstatus $353,842

    Show marketing remark (28 chars)

    Sold comp stat purposes only

19. 2022-05-27
    soldstatus $353,842 28-char remark

    Show marketing remark (28 chars)

    Sold comp stat purposes only

20. 2021-07-20
    listed $353,842

    Show marketing remark (28 chars)

    Sold comp stat purposes only

21. 2021-07-20
    listed $353,842 28-char remark

    Show marketing remark (28 chars)

    Sold comp stat purposes only

ⓘ 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: $5,261 · $438/mo
• Projected year-2 tax: $5,261 · $438/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,186
• − Mortgage interest: −$22,910
• − Property taxes: −$5,261
• − Insurance: −$2,045
• − Repairs & maintenance: −$2,575
• − Management: −$2,575
• − HOA: −$1,200
• − Depreciation: −$11,898
• Taxable loss: −$16,278
• Est. tax savings @ 24.0%: +$3,907
• After-tax cash flow: $-4,910/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: Nassau
• NCES district ID: 1201350
• Math proficiency: 74% ▼ -2.00%
• Reading proficiency: 65% ▼ -2.00%
• Median HH income: $58,267
• Composite: 59.79/100
• National rank: #899
• State rank: #4 of 73 in FL

Livability — Yulee

• Score: 66/100
• State rank: #605
• US rank: #11615

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Nassau County · 67,729 people
• City population: 26,700
• Metro: Jacksonville, FL
• Population (ZIP): 26,700
• Household income: $93,161
• Rent vs Own: 19.8% rent · 80.2% own
• Severe rent burden: 404.0

Population outlook (Nassau County) Hauer SSP2

• Today (2025): 88,419 people
• By 2030: 92,679 · +4.8%
• By 2040: 99,257 · +12.3%
• By 2050: 103,378 · +16.9%
• By 2075: 109,726 · +24.1%
• By 2100: 107,006 · +21.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 9% Black 9% Hispanic / Latino 8% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Italian 3% Romanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Vietnamese 1%

Political lean MEDSL · Nassau

• 2024 margin: Solid R (+46.9) · D 26.1% · R 73.1%
• 2008→2024 swing: -3.1pp toward R · 2008: -43.8pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+45.9 2016: R+50.2 2012: R+48.6 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 49.35%
• Current HPI: 301.9299
• Rent YoY: ▲ 2.88%
• 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

+15.6% since first listed

6 events — show timeline

• 2026-04-24 Price Changed $409,000 realMLS
• 2026-04-09 Listed $415,000 realMLS
• 2022-05-27 Sold (MLS) $353,842 St. Augustine and St. Johns County Board of REALTORS®
• 2022-05-27 Sold (MLS) $353,842 realMLS
• 2021-07-20 Listed $353,842 St. Augustine and St. Johns County Board of REALTORS®
• 2021-07-20 Listed $353,842 realMLS

Property tax history

+28.1%/yr

Latest (2025): $5,261 · +1.7% YoY. Source: county tax records.