8105 Colee Cove Rd · World Golf Village, FL 32092

$219,000

3 bd · 2.0 ba · 1,104 sqft · Manufactured public records · 71 Days on market

Built 1988 0.26 ac lot $198/sqft · 26% below area Est $296k · 26% under

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Why this score? — see what drove the C+ 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• Schools +6.4/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you've been searching for a property that offers privacy, water access, and long-term potential without the cost of direct riverfront ownership, this canal-front setting presents an opportunity that is becoming increasingly difficult to find. Set beneath a canopy of mature trees and backing to a natural canal with access to the St. Johns River just minutes away, the true value here is in the land, location, and connection to North Florida's waterways. Whether you enjoy boating, kayaking, or simply the quiet of a natural setting, this property offers a lifestyle that goes beyond what typical residential lots can provide. The canal creates a peaceful backdrop and gives you the ability to explore nearby waters by jon boat, kayak, or canoe, while still maintaining a sense of privacy and separation from heavier river traffic. There is also space to store boats, trailers, and equipment, making it a practical choice for buyers who want flexibility without restrictive community rules. The existing 3-bedroom, 2-bath home provides a functional layout that can be used as-is, updated over time, or serve as a starting point for future plans. Key improvements already completed include a roof replacement in 2020 and a water heater approximately five years old. The property is serviced by an artesian well with aerator, delivering strong water pressure, along with a 750-gallon septic system. For buyers evaluating options in this price range, opportunities like this are often considered for their long-term potential. Whether that means creating a weekend retreat, enjoying it as a primary residence, or planning future improvements, the flexibility of the property is a significant advantage. With its natural setting, canal access to the St. Johns River, and ability to evolve over time, this property offers a combination of lifestyle and potential that is not easily replicated.

Key facts

• 0.26 acre lot
• Built 1988
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $219k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $206k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: schools A+, crime A+, employment 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.
• Market conditions: Rents flat; 1323 active listings in the ZIP; 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 $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 71 days — a 6% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago 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.
• Current owner paid $30k; list at $219k implies a 630% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 8.3

CMA / ARV

• ARV (median comp): $296,358
• List price: $219,000
• Delta: -26.10%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8145 Colee Cove Rd	0.17mi	3/2.0	1,144 (+4%)	8mo	$266,000	$233	79

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: -8.7%
• Equity multiple: 0.69×
• Total profit: $-19,069
• Equity at exit: $32,654

10-year hold

• IRR: -3.3%
• Equity multiple: 0.81×
• Total profit: $-11,775
• Equity at exit: $18,935

Cash invested: $61,320 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,193 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $357

Break-even live

Break-even rent $1,741

Max offer price $219,000

Occupancy floor 79%

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $219,000 Active 71 DOM
2. 2026-06-17
   days on market $219,000 Active 70 DOM
3. 2026-06-16
   days on market $219,000 Active 69 DOM
4. 2026-06-15
   days on market $219,000 Active 68 DOM
5. 2026-06-13
   days on market $219,000 Active 66 DOM
6. 2026-06-13
   days on market $219,000 Active 65 DOM
7. 2026-06-10
   days on market $219,000 Active 62 DOM
8. 2026-06-08
   days on market $219,000 Active 61 DOM
9. 2026-06-07
   days on market $219,000 Active 60 DOM
10. 2026-06-03
    days on market $219,000 Active 56 DOM
11. 2026-06-02
    days on market $219,000 Active 55 DOM
12. 2026-06-01
    days on market $219,000 Active 54 DOM
13. 2026-05-31
    days on market $219,000 Active 53 DOM
14. 2026-04-08
    listed $219,000 Active 1900-char remark

    Show marketing remark (1900 chars)

    If you've been searching for a property that offers privacy, water access, and long-term potential without the cost of direct riverfront ownership, this canal-front setting presents an opportunity that is becoming increasingly difficult to find. Set beneath a canopy of mature trees and backing to a natural canal with access to the St. Johns River just minutes away, the true value here is in the land, location, and connection to North Florida's waterways. Whether you enjoy boating, kayaking, or simply the quiet of a natural setting, this property offers a lifestyle that goes beyond what typical residential lots can provide. The canal creates a peaceful backdrop and gives you the ability to explore nearby waters by jon boat, kayak, or canoe, while still maintaining a sense of privacy and separation from heavier river traffic. There is also space to store boats, trailers, and equipment, making it a practical choice for buyers who want flexibility without restrictive community rules. The existing 3-bedroom, 2-bath home provides a functional layout that can be used as-is, updated over time, or serve as a starting point for future plans. Key improvements already completed include a roof replacement in 2020 and a water heater approximately five years old. The property is serviced by an artesian well with aerator, delivering strong water pressure, along with a 750-gallon septic system. For buyers evaluating options in this price range, opportunities like this are often considered for their long-term potential. Whether that means creating a weekend retreat, enjoying it as a primary residence, or planning future improvements, the flexibility of the property is a significant advantage. With its natural setting, canal access to the St. Johns River, and ability to evolve over time, this property offers a combination of lifestyle and potential that is not easily replicated.

15. 2026-03-20
    historical 708-char remark

    Show marketing remark (708 chars)

    Welcome Home! This well-maintained waterfront retreat is move-in ready and being sold as-is. Featuring fresh paint, new carpet, and a 3-year-old roof, this home offers vaulted ceilings, a cozy fireplace, and a gas range for the chef at heart. Enjoy canal-front living with navigable access to the St. John's River in under 5 minutes. Relax on the oversized porch and take in river breezes and fruit trees lining the canal. The fenced yard offers privacy and space for your RV, boat, and other toys. Nestled in a quiet neighborhood just 5 minutes from World Golf Village, shopping, and outlets, and only 15 minutes from historic downtown St. Augustine. Don't miss this opportunity—get it while it lasts!

16. 2026-02-17
    price $219,000 708-char remark

    Show marketing remark (708 chars)

    Welcome Home! This well-maintained waterfront retreat is move-in ready and being sold as-is. Featuring fresh paint, new carpet, and a 3-year-old roof, this home offers vaulted ceilings, a cozy fireplace, and a gas range for the chef at heart. Enjoy canal-front living with navigable access to the St. John's River in under 5 minutes. Relax on the oversized porch and take in river breezes and fruit trees lining the canal. The fenced yard offers privacy and space for your RV, boat, and other toys. Nestled in a quiet neighborhood just 5 minutes from World Golf Village, shopping, and outlets, and only 15 minutes from historic downtown St. Augustine. Don't miss this opportunity—get it while it lasts!

17. 2025-11-25
    price $229,000 708-char remark

    Show marketing remark (708 chars)

    Welcome Home! This well-maintained waterfront retreat is move-in ready and being sold as-is. Featuring fresh paint, new carpet, and a 3-year-old roof, this home offers vaulted ceilings, a cozy fireplace, and a gas range for the chef at heart. Enjoy canal-front living with navigable access to the St. John's River in under 5 minutes. Relax on the oversized porch and take in river breezes and fruit trees lining the canal. The fenced yard offers privacy and space for your RV, boat, and other toys. Nestled in a quiet neighborhood just 5 minutes from World Golf Village, shopping, and outlets, and only 15 minutes from historic downtown St. Augustine. Don't miss this opportunity—get it while it lasts!

18. 2025-10-08
    listed $233,500 Active 708-char remark

    Show marketing remark (708 chars)

    Welcome Home! This well-maintained waterfront retreat is move-in ready and being sold as-is. Featuring fresh paint, new carpet, and a 3-year-old roof, this home offers vaulted ceilings, a cozy fireplace, and a gas range for the chef at heart. Enjoy canal-front living with navigable access to the St. John's River in under 5 minutes. Relax on the oversized porch and take in river breezes and fruit trees lining the canal. The fenced yard offers privacy and space for your RV, boat, and other toys. Nestled in a quiet neighborhood just 5 minutes from World Golf Village, shopping, and outlets, and only 15 minutes from historic downtown St. Augustine. Don't miss this opportunity—get it while it lasts!

19. 2024-06-06
    historical
20. 2024-03-27
    status Active
21. 2024-03-03
    historical
22. 2023-12-05
    status Active
23. 2023-12-01
    historical
24. 2023-10-07
    status Active
25. 2023-09-25
    historical
26. 2023-07-03
    status Active
27. 2023-07-01
    historical
28. 2023-04-03
    listed $235,000 Active
29. 2023-03-04
    historical
30. 2022-12-05
    listed $235,000 Active
31. 2022-11-29
    historical
32. 2022-10-28
    price $265,000
33. 2022-08-26
    listed $285,000 Active
34. 1997-07-03
    soldstatus $30,000

ⓘ 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: $1,628 · $136/mo
• Projected year-2 tax: $1,818 · $151/mo
• Expected delta: +$190/yr (+$16/mo · 11.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 53% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $26,313
• − Mortgage interest: −$12,267
• − Property taxes: −$1,628
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,105
• − Management: −$2,105
• − Depreciation: −$6,371
• Taxable income: $741
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $4,105/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

• 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

+630.0% since first listed

21 events — show timeline

• 2026-04-08 Listed $219,000 realMLS
• 2026-03-20 Listing Removed — realMLS
• 2026-02-17 Price Changed $219,000 realMLS
• 2025-11-25 Price Changed $229,000 realMLS
• 2025-10-08 Listed $233,500 realMLS
• 2024-06-06 Listing Removed — realMLS
• 2024-03-27 Relisted — realMLS
• 2024-03-03 Listing Removed — realMLS
• 2023-12-05 Relisted — realMLS
• 2023-12-01 Listing Removed — realMLS
• 2023-10-07 Relisted — realMLS
• 2023-09-25 Listing Removed — realMLS
• 2023-07-03 Relisted — realMLS
• 2023-07-01 Listing Removed — realMLS
• 2023-04-03 Listed $235,000 realMLS
• 2023-03-04 Listing Removed — realMLS
• 2022-12-05 Listed $235,000 realMLS
• 2022-11-29 Listing Removed — realMLS
• 2022-10-28 Price Changed $265,000 realMLS
• 2022-08-26 Listed $285,000 realMLS
• 1997-07-03 Sold (Public Records) $30,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,628 · +35.4% YoY. Source: county tax records.