341 Redwood Ln · Fruit Cove, FL 32259

$220,000

2 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 153 Days on market

Built 2004 2,613 sqft lot $218/sqft · 8% below area Est $239k · 8% under $308/mo HOA · 16% of rent ↓ 49% 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).

• ARV discount +11.1/15.0
• Cash flow +7.2/30.0
• Schools +6.4/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't wait on this well maintained townhome in a desirable area! The home is move-in ready, so no expenses after closing are necessary, unless you want to personalize the space to your preference. This is a gated community that is also associated with the greater Julington Plantation amenities. This home provides a covered front porch, as well as an open patio on the rear. The long driveway can host several vehicles for your personal or social needs. Wether you are looking for a personal space, or trying to build a rental portfolio, this is a home you should want to consider.

Key facts

• Gated community
• Covered front porch
• Open patio

Tags

• GATED COMMUNITY
• COVERED FRONT PORCH
• OPEN PATIO
• LONG DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-299 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (24.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (10.7% below list).
• Recommended offer: $167k (24.0% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 2.9% in Fruit Cove — 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 69/100 on livability (#469 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment 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.
• Market conditions: Rents flat; 762 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 is only 16% of the median local income ($151k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 153 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $142k; list at $220k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,162 (24.0% 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 153 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. 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 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?
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: 0.89% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.83%
• DSCR: 0.74
• GRM: 9.3

CMA / ARV

• ARV (median comp): $239,272
• List price: $220,000
• Delta: -8.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 S Covered Bridge Rd #4	0.37mi	3/2.0 (+1)	1,155 (+15%)	7mo	$277,000	$240	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -30.5%
• Equity multiple: 0.02×
• Total profit: $-60,225
• Equity at exit: $32,803

10-year hold

• IRR: -59.3%
• Equity multiple: -0.60×
• Total profit: $-98,279
• Equity at exit: $19,022

Cash invested: $61,600 (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 32259

• Home prices YoY: -28.8%
• Rents YoY: 0.0%
• Active inventory: 762
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$298 /mo · $3,576/yr
• Insurance: −$92
• HOA: −$308
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-299

Break-even live

Break-even rent $2,343

Max offer price $167,162

Occupancy floor —

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 Honeycomb Way Saint Johns, FL	2.0	2.5	1500	$1,995	$1.33	23d	1	0.13mi
729 Middle Branch Way Saint Johns, FL	2.0	3.0	1104	$1,650	$1.49	23d	1	0.18mi
155 Southern Bridge Blvd #6 Saint Johns, FL	3.0	2.0	1144	$1,950	$1.70	14d	1	0.32mi
155 Southern Bridge Blvd #4 Saint Johns, FL	3.0	2.5	1500	$1,950	$1.30	1d	1	0.32mi
908 Buttercup Dr Saint Johns, FL	3.0	2.0	1253	$2,400	$1.92	14d	1	0.37mi
505 S Steel Bridge Rd #2 Saint Johns, FL	3.0	2.5	1460	$2,000	$1.37	21d	1	0.38mi

HOA detail

• Monthly dues: $308 · $3,696/yr
• Likely covers: security

Listing history 22 events

1. 2026-06-18
   days on market $220,000 Active 153 DOM
2. 2026-06-17
   days on market $220,000 Active 152 DOM
3. 2026-06-16
   days on market $220,000 Active 151 DOM
4. 2026-06-15
   days on market $220,000 Active 150 DOM
5. 2026-06-13
   days on market $220,000 Active 148 DOM
6. 2026-06-13
   days on market $220,000 Active 147 DOM
7. 2026-06-10
   days on market $220,000 Active 144 DOM
8. 2026-06-08
   days on market $220,000 Active 143 DOM
9. 2026-06-07
   days on market $220,000 Active 142 DOM
10. 2026-06-03
    days on market $220,000 Active 138 DOM
11. 2026-06-02
    days on market $220,000 Active 137 DOM
12. 2026-06-01
    days on market $220,000 Active 136 DOM
13. 2026-05-31
    days on market $220,000 Active 135 DOM
14. 2026-05-01
    status Active 582-char remark

    Show marketing remark (582 chars)

    Don't wait on this well maintained townhome in a desirable area! The home is move-in ready, so no expenses after closing are necessary, unless you want to personalize the space to your preference. This is a gated community that is also associated with the greater Julington Plantation amenities. This home provides a covered front porch, as well as an open patio on the rear. The long driveway can host several vehicles for your personal or social needs. Wether you are looking for a personal space, or trying to build a rental portfolio, this is a home you should want to consider.

15. 2026-04-30
    historical 582-char remark

    Show marketing remark (582 chars)

    Don't wait on this well maintained townhome in a desirable area! The home is move-in ready, so no expenses after closing are necessary, unless you want to personalize the space to your preference. This is a gated community that is also associated with the greater Julington Plantation amenities. This home provides a covered front porch, as well as an open patio on the rear. The long driveway can host several vehicles for your personal or social needs. Wether you are looking for a personal space, or trying to build a rental portfolio, this is a home you should want to consider.

16. 2026-04-22
    price $229,500 582-char remark

    Show marketing remark (582 chars)

    Don't wait on this well maintained townhome in a desirable area! The home is move-in ready, so no expenses after closing are necessary, unless you want to personalize the space to your preference. This is a gated community that is also associated with the greater Julington Plantation amenities. This home provides a covered front porch, as well as an open patio on the rear. The long driveway can host several vehicles for your personal or social needs. Wether you are looking for a personal space, or trying to build a rental portfolio, this is a home you should want to consider.

17. 2026-03-03
    price $235,000 582-char remark

    Show marketing remark (582 chars)

    Don't wait on this well maintained townhome in a desirable area! The home is move-in ready, so no expenses after closing are necessary, unless you want to personalize the space to your preference. This is a gated community that is also associated with the greater Julington Plantation amenities. This home provides a covered front porch, as well as an open patio on the rear. The long driveway can host several vehicles for your personal or social needs. Wether you are looking for a personal space, or trying to build a rental portfolio, this is a home you should want to consider.

18. 2026-01-15
    listed $240,000 Active 582-char remark

    Show marketing remark (582 chars)

    Don't wait on this well maintained townhome in a desirable area! The home is move-in ready, so no expenses after closing are necessary, unless you want to personalize the space to your preference. This is a gated community that is also associated with the greater Julington Plantation amenities. This home provides a covered front porch, as well as an open patio on the rear. The long driveway can host several vehicles for your personal or social needs. Wether you are looking for a personal space, or trying to build a rental portfolio, this is a home you should want to consider.

19. 2024-12-09
    historical $1,550
20. 2024-10-23
    listed $1,550
21. 2005-06-15
    soldstatus $142,000
22. 2004-04-19
    soldstatus $452,500

ⓘ 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: $3,576 · $298/mo
• Projected year-2 tax: $3,576 · $298/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 · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,578
• − Mortgage interest: −$12,323
• − Property taxes: −$3,576
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − HOA: −$3,696
• − Depreciation: −$6,400
• Taxable loss: −$7,289
• Est. tax savings @ 24.0%: +$1,749
• After-tax cash flow: $-1,840/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 — Fruit Cove

• Score: 69/100
• State rank: #469
• US rank: #8490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fruit Cove, FL
• County: Saint Johns County · 301,599 people
• Metro: Jacksonville, FL
• Population (ZIP): 75,016
• Household income: $150,736
• Rent vs Own: 11.8% rent · 88.2% own
• Severe rent burden: 727.0

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 (73%)
• Race & ethnicity: White 73% Two or more races 11% Hispanic / Latino 9% Black 6% Asian 6%
• Hispanic origin (detail): Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, China
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 4% Other Asian/Pacific 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: ▼ -105.54%
• Current HPI: 261.2552
• Rent YoY: ▬ 0.00%
• 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

-49.3% since first listed

9 events — show timeline

• 2026-05-01 Relisted — realMLS
• 2026-04-30 Listing Removed — realMLS
• 2026-04-22 Price Changed $229,500 realMLS
• 2026-03-03 Price Changed $235,000 realMLS
• 2026-01-15 Listed $240,000 realMLS
• 2024-12-09 Rental Removed $1,550 NEFLMLS
• 2024-10-23 Listed for Rent $1,550 NEFLMLS
• 2005-06-15 Sold (Public Records) $142,000 Public Records
• 2004-04-19 Sold (Public Records) $452,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $3,576 · +10.6% YoY. Source: county tax records.