29 Craig Ct · Fruit Cove, FL 32092

$290,000

3 bd · 2.5 ba · 1,707 sqft · Land · 63 Days on market

Built 2026 1,742 sqft lot $20/mo HOA · 1% of rent

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• DSCR +4.6/10.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE IN READY! Presenting the Lincoln floor plan by Lennar Townhomes — a thoughtfully designed residence offering 3 bedrooms, 2.5 bathrooms, a versatile loft, and a one-car garage. This home showcases Lennar's signature Everything's Included package, featuring elegant white quartz countertops, 42'' cabinetry, and a full suite of Frigidaire stainless steel appliances, range, dishwasher, microwave, and refrigerator. Durable ceramic wood-look tile flooring is installed throughout all wet areas and seamlessly extends into the living, dining, and hallway spaces. Additional upgrades include quartz vanities, window blinds throughout, a pre-screened lanai, pavered driveway, a full sprinkler system, and a water heater. Enjoy peace of mind with a one-year builder warranty, dedicated customer service program, and 24-hour emergency support. (Conditions may apply)

Key facts

• Pavered driveway
• Pre-screened lanai
• Versatile loft

Tags

• VERSATILE LOFT
• WHITE QUARTZ COUNTERTOPS
• PAVERED DRIVEWAY
• FULL SPRINKLER SYSTEM
• PRE-SCREENED LANAI

Property features AI

Finance

• Other: Lot size approximately 0.04 acres
• HOA & community: Homeowners association (Shearwater Homeowners Association, Inc.); Annual association fee; CDD fee applies

Exterior

• Parking: Attached garage; 1 garage space
• Utilities: Public sewer; Electricity connected; Water connected; Natural gas available; Sewer connected
• Home design: Townhouse; Two levels; Attached property
• Construction: Shingle roof
• Exterior features: Shingle roof; No private pool

Interior

• Kitchen: Dishwasher; Microwave; Other appliances
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Dishwasher; Microwave; Other appliances noted; Carpet flooring; Tile flooring
• Laundry & utility: Utilities connected: electricity, water, sewer; Natural gas available

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $290k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (11.6% below list).
• Recommended offer: $256k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: 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: Timberlin Creek Elementary School (math 81% / reading 85%, grade A+, #65 of 2,144 statewide, top 3%, 1,311 students, 9% FRL); Switzerland Point Middle School (math 80% / reading 72%, grade A, #34 of 571 statewide, top 6%, 1,430 students, 5% FRL); Beachside High School (1,254 students, 5% FRL).
• Market conditions: Rents flat; 1323 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 63 days — a 6% lower offer ($273k) 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 $256,355 (11.6% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.5%
• Equity multiple: 0.40×
• Total profit: $-48,717
• Equity at exit: $43,240

10-year hold

• IRR: -16.0%
• Equity multiple: 0.22×
• Total profit: $-63,553
• Equity at exit: $25,074

Cash invested: $81,200 (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: 1323
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,564 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$276 /mo · $3,309/yr
• Insurance: −$121
• HOA: −$20
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $88

Break-even live

Break-even rent $2,452

Max offer price $290,000

Occupancy floor 92%

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
380 Belfort Ct Saint Augustine, FL	3.0	2.5	1782	$2,500	$1.40	23d	1	0.05mi
413 Rosemont Dr Saint Augustine, FL	3.0	2.5	1782	$2,125	$1.19	23d	1	0.13mi
78 Gaston Ct Saint Augustine, FL	3.0	2.5	1635	$2,250	$1.38	23d	1	0.42mi
36 Viceroy Ct Saint Augustine, FL	3.0	2.5	1631	$2,850	$1.75	17d	1	0.67mi
18 Longtail Dr Saint Augustine, FL	2.0–3.0	2.0–2.5	1714	$3,142	$1.83	1d	9	0.75mi

HOA detail

• Monthly dues: $20 · $240/yr
• Likely covers: water

Listing history 10 events

1. 2026-05-05
   status Pending
2. 2026-04-16
   price $290,000
3. 2026-04-02
   price $295,000
4. 2026-03-19
   price $300,000
5. 2026-03-03
   listed $304,000 Active
6. 2026-03-03
   soldstatus $288,900
7. 2026-02-27
   status Pending 878-char remark

   Show marketing remark (878 chars)

   MOVE IN READY! Presenting the Lincoln floor plan by Lennar Townhomes — a thoughtfully designed residence offering 3 bedrooms, 2.5 bathrooms, a versatile loft, and a one-car garage. This home showcases Lennar's signature Everything's Included package, featuring elegant white quartz countertops, 42'' cabinetry, and a full suite of Frigidaire stainless steel appliances, range, dishwasher, microwave, and refrigerator. Durable ceramic wood-look tile flooring is installed throughout all wet areas and seamlessly extends into the living, dining, and hallway spaces. Additional upgrades include quartz vanities, window blinds throughout, a pre-screened lanai, pavered driveway, a full sprinkler system, and a water heater. Enjoy peace of mind with a one-year builder warranty, dedicated customer service program, and 24-hour emergency support. (Conditions may apply)

8. 2026-02-27
   soldstatus $341,485 Closed 878-char remark

   Show marketing remark (878 chars)

   MOVE IN READY! Presenting the Lincoln floor plan by Lennar Townhomes — a thoughtfully designed residence offering 3 bedrooms, 2.5 bathrooms, a versatile loft, and a one-car garage. This home showcases Lennar's signature Everything's Included package, featuring elegant white quartz countertops, 42'' cabinetry, and a full suite of Frigidaire stainless steel appliances, range, dishwasher, microwave, and refrigerator. Durable ceramic wood-look tile flooring is installed throughout all wet areas and seamlessly extends into the living, dining, and hallway spaces. Additional upgrades include quartz vanities, window blinds throughout, a pre-screened lanai, pavered driveway, a full sprinkler system, and a water heater. Enjoy peace of mind with a one-year builder warranty, dedicated customer service program, and 24-hour emergency support. (Conditions may apply)

9. 2026-02-02
   listed $306,485 Active 878-char remark

   Show marketing remark (878 chars)

   MOVE IN READY! Presenting the Lincoln floor plan by Lennar Townhomes — a thoughtfully designed residence offering 3 bedrooms, 2.5 bathrooms, a versatile loft, and a one-car garage. This home showcases Lennar's signature Everything's Included package, featuring elegant white quartz countertops, 42'' cabinetry, and a full suite of Frigidaire stainless steel appliances, range, dishwasher, microwave, and refrigerator. Durable ceramic wood-look tile flooring is installed throughout all wet areas and seamlessly extends into the living, dining, and hallway spaces. Additional upgrades include quartz vanities, window blinds throughout, a pre-screened lanai, pavered driveway, a full sprinkler system, and a water heater. Enjoy peace of mind with a one-year builder warranty, dedicated customer service program, and 24-hour emergency support. (Conditions may apply)

10. 2025-08-21
    soldstatus $1,394,700

ⓘ 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: $3,309 · $276/mo
• Projected year-2 tax: $3,309 · $276/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: $30,763
• − Mortgage interest: −$16,245
• − Property taxes: −$3,309
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,461
• − Management: −$2,461
• − HOA: −$240
• − Depreciation: −$8,436
• Taxable loss: −$3,839
• Est. tax savings @ 24.0%: +$921
• After-tax cash flow: $1,976/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

• County: Saint Johns County · 301,599 people
• 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

-79.2% since first listed

10 events — show timeline

• 2026-05-05 Pending — realMLS
• 2026-04-16 Price Changed $290,000 realMLS
• 2026-04-02 Price Changed $295,000 realMLS
• 2026-03-19 Price Changed $300,000 realMLS
• 2026-03-03 Sold (Public Records) $288,900 Public Records
• 2026-03-03 Listed $304,000 realMLS
• 2026-02-27 Pending — realMLS
• 2026-02-27 Sold (MLS) $341,485 realMLS
• 2026-02-02 Listed $306,485 realMLS
• 2025-08-21 Sold (Public Records) $1,394,700 Public Records

Property tax history

+3.2%/yr

Latest (2025): $3,309 · +3.2% YoY. Source: county tax records.