523 Hedgewood Dr · World Golf Village, FL 32092

$389,900

4 bd · 4.0 ba · 2,399 sqft · Townhouse public records · 11 Days on market

Built 2007 Est $422k · 8% under $436/mo HOA · 12% of rent ↓ 23% since listing

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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 +11.1/30.0
• ARV discount +10.9/15.0
• Schools +6.4/10.0
• 1% rule +4.4/10.0
• Livability +3.9/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

Key facts

• Gated community
• Kitchenette
• Detached adu

Tags

• WATERFRONT LIVING
• GATED COMMUNITY
• PRIVATE GATED COURTYARD
• DETACHED ADU
• FULL BATH
• KITCHENETTE

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $436.99; Not a senior community

Exterior

• Parking: 2-car garage; Gated parking
• Utilities: Cable available
• Home design: Townhouse; Two levels; Attached property
• Exterior features: Pond on the property; Waterfront setting

Interior

• Kitchen: Kitchen equipped with dishwasher, electric range, microwave, and refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms, 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dishwasher, Electric range, Microwave, Refrigerator

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath townhouse listed at $390k.

Deal economics

• At list price, monthly cash flow is $-159 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $362k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $365k (6.4% below list).
• Recommended offer: $362k (7.2% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.0% in World Golf Village — 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 78/100 on livability (#168 in FL, #2,512 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: 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: Mill Creek Academy (math 73% / reading 69%, grade A-, #320 of 2,144 statewide, top 15%, 1,893 students, 18% FRL); Pacetti Bay Middle School (math 77% / reading 72%, grade A, #40 of 571 statewide, top 7%, 1,443 students, 18% 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 flat; 1335 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).
• This rent runs 33% of the median local income ($131k/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 $3k of loan paydown is wiped out by about $12k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y ago; this cycle's ask is 100131% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $270k; 44% 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; moderate 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 $361,811 (7.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $422,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
555 Hedgewood Dr	0.05mi	4/3.5	2,399 (0%)	13mo	$414,000	$173	85
543 Hedgewood Dr	0.03mi	4/3.5	2,414 (+1%)	14mo	$407,500	$169	84
110 N Champions Way #514	0.24mi	4/4.0	2,422 (+1%)	11mo	$422,000	$174	78
355 N Shore Cir #1311	0.28mi	4/4.0	2,422 (+1%)	9mo	$440,000	$182	78
355 N Shore Cir	0.28mi	4/4.0	2,422 (+1%)	9mo	$440,000	$182	78
117 Hedgewood Dr	0.10mi	4/3.5	2,169 (-10%)	1mo	$370,000	$171	77
504 Hedgewood Dr	0.03mi	4/3.5	2,240 (-7%)	14mo	$395,000	$176	74
153 Hedgewood Dr	0.14mi	4/4.5	2,618 (+9%)	3mo	$426,000	$163	73
350 N Shore Cir #1411	0.25mi	4/3.5	2,527 (+5%)	8mo	$445,000	$176	71
135 Champions Way #211	0.25mi	4/3.0	2,422 (+1%)	16mo	$395,000	$163	69
335 N Shore Cir #1032	0.27mi	3/3.0 (-1)	2,161 (-10%)	4mo	$467,500	$216	59
125 N Champions Way #322	0.28mi	3/3.0 (-1)	2,120 (-12%)	8mo	$419,000	$198	52

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

Projected returns pro-forma

-3.0% appreciation · 0.08% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.24×
• Total profit: $-83,453
• Equity at exit: $58,135

10-year hold

• IRR: -29.4%
• Equity multiple: -0.14×
• Total profit: $-124,927
• Equity at exit: $33,711

Cash invested: $109,172 (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 32092

• Home prices YoY: -32.2%
• Rents YoY: 0.1%
• Active inventory: 1335
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,648 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$397 /mo · $4,770/yr
• Insurance: −$162
• HOA: −$436
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $-159

Break-even live

Break-even rent $3,849

Max offer price $361,811

Occupancy floor 99%

Sensitivity live

Price	-10% $62	-5% $-49	+0% $-159	+5% $-269	+10% $-380
Rent	-10% $-447	-5% $-303	+0% $-159	+5% $-15	+10% $129
Rate	-1.0pp $37	-0.5pp $-60	base $-159	+0.5pp $-260	+1.0pp $-363

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
212 Island Green Dr Saint Augustine, FL	3.0	3.5	2013	$3,995	$1.98	25d	1	0.10mi
46 Paradas Pl Saint Augustine, FL	3.0	2.5	2066	$2,125	$1.03	23d	1	0.85mi
529 Casa Sevilla Ave Saint Augustine, FL	3.0	2.0	1876	$2,795	$1.49	25d	1	1.09mi
80 Iris Landing Dr Saint Augustine, FL	5.0	4.0	3289	$3,800	$1.16	25d	1	1.34mi

HOA detail

• Monthly dues: $436 · $5,232/yr

Listing history 26 events

1. 2026-06-21
   days on market $389,900 Active 11 DOM
2. 2026-06-18
   days on market $389,900 Active 8 DOM
3. 2026-06-17
   days on market $389,900 Active 7 DOM
4. 2026-06-16
   days on market $389,900 Active 6 DOM
5. 2026-06-15
   days on market $389,900 Active 5 DOM
6. 2026-06-13
   days on market $389,900 Active 3 DOM
7. 2026-06-13
   status $389,900 Active 2 DOM
8. 2026-06-01
   status $389,900 Pending 2 DOM
9. 2026-05-31
   days on market $389,900 Active 2 DOM
10. 2026-05-29
    price $389,900
11. 2026-05-29
    listed $389 Active
12. 2021-02-26
    soldstatus $270,000 Sold 403-char remark

    Show marketing remark (316 chars)

    World Golf Village, unique town homes. Mauna Kea floor plan master on first level, with 2nd floor bonus and 2 bedrooms. Private courtyard and back paver patio with lake view. Garden suite over 2 car garage with full bath, walk in closet and coffee bar, private entrance. Access to King and Bear amenities minus golf.

13. 2021-02-26
    soldstatus $270,000 Closed 316-char remark

    Show marketing remark (316 chars)

    World Golf Village, unique town homes. Mauna Kea floor plan master on first level, with 2nd floor bonus and 2 bedrooms. Private courtyard and back paver patio with lake view. Garden suite over 2 car garage with full bath, walk in closet and coffee bar, private entrance. Access to King and Bear amenities minus golf.

14. 2021-01-12
    status Pending 316-char remark

    Show marketing remark (403 chars)

    Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

15. 2021-01-12
    status Pending 403-char remark

    Show marketing remark (403 chars)

    Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

16. 2020-11-16
    price $280,000 316-char remark

    Show marketing remark (403 chars)

    Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

17. 2020-11-16
    price $280,000 403-char remark

    Show marketing remark (403 chars)

    Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

18. 2020-07-15
    historical
19. 2020-07-14
    listed $270,000 Active
20. 2020-06-23
    price $270,000 316-char remark

    Show marketing remark (403 chars)

    Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

21. 2020-06-23
    price $270,000 403-char remark

    Show marketing remark (403 chars)

    Private outside entrance to the 2nd floor garden suite with a coffee bar, walk-in closet and full bath. The private paver courtyard is the entry to your two bedroom, 2.5 bath townhome. The galley style kitchen features white cottage style cabinets, granite countertops, and stainless steel appliances. Breakfast room overlooks the patio. First floor includes the master suite, 1/2 bath and utility room.

22. 2020-02-10
    listed $300,000 Active 403-char remark

    Show marketing remark (316 chars)

    World Golf Village, unique town homes. Mauna Kea floor plan master on first level, with 2nd floor bonus and 2 bedrooms. Private courtyard and back paver patio with lake view. Garden suite over 2 car garage with full bath, walk in closet and coffee bar, private entrance. Access to King and Bear amenities minus golf.

23. 2020-02-10
    listed $300,000 Active 316-char remark

    Show marketing remark (316 chars)

    World Golf Village, unique town homes. Mauna Kea floor plan master on first level, with 2nd floor bonus and 2 bedrooms. Private courtyard and back paver patio with lake view. Garden suite over 2 car garage with full bath, walk in closet and coffee bar, private entrance. Access to King and Bear amenities minus golf.

24. 2011-07-18
    soldstatus $120,000
25. 2010-09-28
    soldstatus $440,000
26. 2009-09-02
    soldstatus $508,000

ⓘ 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: $4,770 · $397/mo
• Projected year-2 tax: $4,770 · $397/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $43,771
• − Mortgage interest: −$21,840
• − Property taxes: −$4,770
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,502
• − Management: −$3,502
• − HOA: −$5,232
• − Depreciation: −$11,343
• Taxable loss: −$8,366
• Est. tax savings @ 24.0%: +$2,008
• After-tax cash flow: $100/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 — World Golf Village

• Score: 78/100
• State rank: #168
• US rank: #2512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: World Golf Village, FL
• County: Saint Johns County · 301,599 people
• City population: 48,288
• Metro: Jacksonville, FL
• Population (ZIP): 53,071
• Household income: $131,020
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 706.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 11% Hispanic / Latino 9% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 3% Scotch-Irish 3% Slovak 3%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 6% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -123.26%
• Current HPI: 259.732
• Rent YoY: ▲ 0.08%
• 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

-23.2% since first listed

17 events — show timeline

• 2026-05-29 Price Changed $389,900 realMLS
• 2026-05-29 Listed $389 realMLS
• 2021-02-26 Sold (MLS) $270,000 St. Augustine and St. Johns County Board of REALTORS®
• 2021-02-26 Sold (MLS) $270,000 realMLS
• 2021-01-12 Pending — St. Augustine and St. Johns County Board of REALTORS®
• 2021-01-12 Pending — realMLS
• 2020-11-16 Price Changed $280,000 St. Augustine and St. Johns County Board of REALTORS®
• 2020-11-16 Price Changed $280,000 realMLS
• 2020-07-15 Listing Removed — realMLS
• 2020-07-14 Listed $270,000 realMLS
• 2020-06-23 Price Changed $270,000 St. Augustine and St. Johns County Board of REALTORS®
• 2020-06-23 Price Changed $270,000 realMLS
• 2020-02-10 Listed $300,000 St. Augustine and St. Johns County Board of REALTORS®
• 2020-02-10 Listed $300,000 realMLS
• 2011-07-18 Sold (Public Records) $120,000 Public Records
• 2010-09-28 Sold (Public Records) $440,000 Public Records
• 2009-09-02 Sold (Public Records) $508,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $4,770 · +12.5% YoY. Source: county tax records.