3123 Cottage Hill Pl · Asbury Lake, FL 32043

$385,900

5 bd · 3.0 ba · 1,980 sqft · Land · 122 Days on market

Built 2026 $10/mo HOA

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Why this score? — see what drove the F 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 +7.6/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Livability +3.1/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Introducing the Caprice by LGI Homes, a stunning new home in the gorgeous Rolling Hills community in Green Cove Springs. This spacious floor plan boasts 5 bedrooms and 3 bathrooms, providing ample space for your family's needs. The open kitchen with an island is a chef's delight, while the dining area off the kitchen offers a cozy space for family meals. Step into luxury in the master bedroom, complete with a walk-in closet and an en-suite bathroom featuring a dual sink vanity.

Key facts

• 2 garage spots
• Community pool
• Built 2026

Property features AI

Finance

• HOA & community: HOA with annual fee; Community clubhouse; Fitness center; Jogging path; Playground; Tennis courts; Sidewalks; CDD fee applies

Exterior

• Parking: Attached garage with garage door opener; 2-car garage
• Security: Smoke detector(s)
• Utilities: Public sewer; Cable available and connected; Electricity connected; Sewer connected
• Home design: Single family residence; One level
• Construction: Fiber cement and frame construction; Shingle roof
• Exterior features: Covered front porch; Patio; Smoke detector(s); Paved road access; Community pool (not private)

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Electric range; Freezer; Ice maker; Microwave; Refrigerator; Electric water heater
• Bedrooms: 5 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Breakfast bar; Ceiling fan(s); Entrance foyer; Kitchen island; Open floorplan; Pantry; Primary bathroom with shower (no tub); Smart thermostat; Split bedrooms; Vaulted ceilings; Walk-in closet(s)
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $386k.

Deal economics

• At list price, monthly cash flow is $-462 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $262k (32.1% below list).
• Recommended offer: $262k (32.1% below list) — sets the bar for 1% rule.

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: amenities F, commute F, health & safety 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.
• Zoned schools: Lake Asbury Elementary School (math 69% / reading 64%, grade B+, #473 of 2,144 statewide, top 23%, 975 students, 38% FRL); Lake Asbury Junior High School (math 65% / reading 58%, grade B+, #124 of 571 statewide, top 22%, 1,037 students, 41% FRL); Clay High School (math 37% / reading 53%, grade D-, #228 of 667 statewide, top 35%, 1,666 students, 43% FRL).
• Market conditions: Rents flat; 891 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 in 5+ unit buildings).
• This rent runs 37% 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 $3k of loan paydown is wiped out by about $12k 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 122 days — a 12% lower offer ($340k) 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 $261,881 (32.1% 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 122 days. Have you received any prior offers? Is the seller open to a 32% 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 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?
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: 0.68% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 12.3

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: -27.7%
• Equity multiple: 0.09×
• Total profit: $-98,504
• Equity at exit: $57,539

10-year hold

• IRR: -38.1%
• Equity multiple: -0.38×
• Total profit: $-149,268
• Equity at exit: $33,366

Cash invested: $108,052 (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: 891
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,619 medium
• Mortgage (P&I): −$2,024
• Tax from tax record: −$336 /mo · $4,032/yr
• Insurance: −$161
• HOA: −$10
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $-462

Break-even live

Break-even rent $3,203

Max offer price $304,356

Occupancy floor —

Sensitivity live

Price	-10% $-243	-5% $-352	+0% $-462	+5% $-571	+10% $-680
Rent	-10% $-668	-5% $-565	+0% $-462	+5% $-358	+10% $-255
Rate	-1.0pp $-267	-0.5pp $-363	base $-462	+0.5pp $-562	+1.0pp $-663

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: $96,475
• Closing costs: $11,577
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2506 Creekfront Dr Green Cove Springs, FL	4.0	2.0	1638	$2,554	$1.56	25d	1	0.71mi
2653 Fernleaf Dr Green Cove Springs, FL	4.0	2.0	1638	$2,005	$1.22	9d	1	0.76mi
2621 Fernleaf Dr Green Cove Springs, FL	4.0	2.0	1870	$2,135	$1.14	5d	1	0.82mi
1111 Calla Glen Ln Green Cove Springs, FL	4.0	2.0	1980	$2,160	$1.09	3d	1	1.46mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 21 events

1. 2026-06-21
   days on market $385,900 Active 122 DOM
2. 2026-06-18
   days on market $385,900 Active 119 DOM
3. 2026-06-17
   days on market $385,900 Active 118 DOM
4. 2026-06-16
   days on market $385,900 Active 117 DOM
5. 2026-06-15
   days on market $385,900 Active 116 DOM
6. 2026-06-13
   days on market $385,900 Active 114 DOM
7. 2026-06-13
   pricedays on market $385,900 Active 113 DOM
8. 2026-06-09
   days on market $388,900 Active 110 DOM
9. 2026-06-08
   days on market $388,900 Active 109 DOM
10. 2026-06-07
    days on market $388,900 Active 108 DOM
11. 2026-06-03
    days on market $388,900 Active 104 DOM
12. 2026-06-02
    days on market $388,900 Active 103 DOM
13. 2026-06-01
    days on market $388,900 Active 102 DOM
14. 2026-05-31
    days on market $388,900 Active 101 DOM
15. 2026-04-21
    price $388,900
16. 2026-03-26
    status Active
17. 2026-03-26
    price $385,900
18. 2026-03-19
    status Pending
19. 2026-03-05
    price $384,900
20. 2026-02-12
    listed $379,900 Active
21. 2024-06-21
    soldstatus $1,017,700

ⓘ 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: $4,032 · $336/mo
• Projected year-2 tax: $4,032 · $336/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: $31,426
• − Mortgage interest: −$21,616
• − Property taxes: −$4,032
• − Insurance: −$1,930
• − Repairs & maintenance: −$2,514
• − Management: −$2,514
• − HOA: −$120
• − Depreciation: −$11,226
• Taxable loss: −$12,526
• Est. tax savings @ 24.0%: +$3,006
• After-tax cash flow: $-2,533/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

-61.8% since first listed

7 events — show timeline

• 2026-04-21 Price Changed $388,900 realMLS
• 2026-03-26 Relisted — realMLS
• 2026-03-26 Price Changed $385,900 realMLS
• 2026-03-19 Pending — realMLS
• 2026-03-05 Price Changed $384,900 realMLS
• 2026-02-12 Listed $379,900 realMLS
• 2024-06-21 Sold (Public Records) $1,017,700 Public Records

Property tax history

+0.4%/yr

Latest (2025): $4,032 · +0.4% YoY. Source: county tax records.