411 Citrus Ridge Dr

Nocatee, FL 32081

$525,000D-

9 bd · 2.0 ba · 2,111 sqft · Built 2015 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,951/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$924
• HOA: −$42
• Vac / Maint / Mgmt: −$620
• Net cashflow: $-1,388/mo
• Annual: $-16,658/yr
• Cap rate: 3.12%
• Cash-on-cash: -11.33%
• DSCR: 0.50
• 1% rule: 0.56%
• Cash to close: $147,000

Investor read

• This is a 9-bed/2.0-bath single-family listed at $525k.
• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (46.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (43.8% below list).
• It's been on market 87 days — a 6% lower offer ($494k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $280k (46.7% below list) — sets the bar for cash-flow.
• In year one you build about $1k of equity ($4k loan paydown + $-3k appreciation (-0.5% local appreciation)).
• Location reads 70/100 on livability (#425 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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: Valley Ridge Academy (math 87% / reading 81%, grade A+, #55 of 2,144 statewide, top 3%, 1,306 students, 14% 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 (+1.1%/yr); 644 active listings in the ZIP; 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.
• 2 sale attempts since 11y ago; this cycle's ask is 17% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $308k; list at $525k implies a 70% gain — meaningful room to come down on a strong offer.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.1% vs local median 2.5% in Nocatee — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 87 days. Have you received any prior offers? Is the seller open to a 47% 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.