405 Flagler Blvd #6A · St. Augustine, FL 32080

$295,900

2 bd · 1.5 ba · 1,098 sqft · Condo public records · 285 Days on market

Built 1972 $269/sqft · at area comps Est $305k · at est. $611/mo HOA · 17% of rent ↓ 46% since listing

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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 +16.7/30.0
• ARV discount +8.8/15.0
• 1% rule +7.2/10.0
• Schools +6.4/10.0
• DSCR +5.2/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island this fully renovated 2BR/1.5 BA residence offers 1,098 sq ft of low-maintenance coastal living and is ideally suited as a vacation home, investment property, or full time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering abundant natural lighting, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

Key facts

• Fully renovated
• Modern fixtures
• $611 HOA

Tags

• TURN-KEY END-UNIT TOWNHOME
• FULLY RENOVATED
• STAINLESS STEEL APPLIANCES
• LUXURY VINYL PLANK FLOORING
• TILE THROUGHOUT GROUND FLOOR
• MODERN FIXTURES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $296k.

Deal economics

• At list price, monthly cash flow is $-245 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (14.6% below list).
• Meets the 1% rule at list price ($4k rent vs $296k).
• Recommended offer: $253k (14.6% below list) — sets the bar for cash-flow.
• Cap rate 7.0% vs local median 3.1% in St. Augustine — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 soft (-1.0%/yr); 534 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).
• At $3,609/mo this rent would consume 47% of the median local household income ($93k/yr) (locally 417% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 285 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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 $255k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,650 (14.6% 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 285 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 6.8

CMA / ARV

• ARV (median comp): $304,507
• List price: $295,900
• Delta: -2.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.11×
• Total profit: $-73,418
• Equity at exit: $44,120

10-year hold

• IRR: -57.2%
• Equity multiple: -0.47×
• Total profit: $-122,041
• Equity at exit: $25,584

Cash invested: $82,852 (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 32080

• Rents YoY: -1.0%
• Active inventory: 534
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,609 high
• Mortgage (P&I): −$1,552
• Tax from tax record: −$384 /mo · $4,602/yr
• Insurance: −$123
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$611
• Vacancy / Maint / Mgmt: −$758
• Net cashflow: $-245

Break-even live

Break-even rent $3,919

Max offer price $252,650

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: $73,975
• Closing costs: $8,877
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Flagler Blvd Unit 1281915P St. Augustine, FL	2.0	1.0	990	$2,770	$2.80	7d	1	0.03mi
75 Comares Ave Unit 3A Saint Augustine, FL	2.0	2.0	1250	$3,950	$3.16	23d	1	0.17mi
11 Comares Ave Unit 1281955P St. Augustine, FL	3.0	2.0	1237	$4,317	$3.49	7d	1	0.20mi
83 Comares Ave Unit 4B Saint Augustine, FL	2.0	1.5	1006	$2,500	$2.49	23d	1	0.21mi
2A Sanchez Cv Unit 1281958P St. Augustine, FL	2.0	2.5	1194	$7,762	$6.50	23d	1	0.35mi
2 Sanchez Cv Unit 1281986P St. Augustine, FL	2.0	2.5	1194	$7,434	$6.23	20d	1	0.35mi
30 Magnolia Dr Unit 1281924P St. Augustine, FL	3.0	2.0	990	$3,722	$3.76	7d	1	0.47mi
251 Charlotte St Unit B St. Augustine, FL	2.0	1.0	746	$2,900	$3.89	23d	1	0.84mi
251 Charlotte St Unit A St. Augustine, FL	2.0	1.0	746	$2,500	$3.35	23d	1	0.84mi
11 Aviles St Unit 2B St. Augustine, FL	2.0	1.5	777	$2,500	$3.22	23d	1	0.86mi
260 Saint George St Unit 2 St. Augustine, FL	1.0	1.0	750	$1,599	$2.13	3d	1	0.92mi
46 Saint Francis St Saint Augustine, FL	2.0	2.0	999	$3,000	$3.00	21d	1	0.93mi
90 De Haven St Unit 1281966P St. Augustine, FL	2.0	1.5	796	$5,474	$6.88	2d	1	1.09mi
62 Dumas St Saint Augustine, FL	3.0	2.0	1022	$2,500	$2.45	23d	1	1.11mi
35 Desoto Pl Unit 1281968P St. Augustine, FL	2.0	2.0	1173	$5,216	$4.45	12d	1	1.14mi
104 Cedar St Unit 1281914P St. Augustine, FL	3.0	2.0	1399	$7,542	$5.39	2d	1	1.18mi
140B Martin Luther King Ave Unit 1281977P St. Augustine, FL	2.0	1.0	1097	$3,427	$3.12	1d	1	1.20mi
123 Moore St Unit 1281961P St. Augustine, FL	2.0	2.0	904	$3,119	$3.45	2d	1	1.23mi
171 Twine St Unit 1568459P St. Augustine, FL	2.0	1.5	1151	$4,362	$3.79	1d	1	1.27mi
134 South St Unit 1281931P St. Augustine, FL	3.0	2.0	1291	$6,455	$5.00	7d	1	1.27mi
259 Riberia St Unit A St. Augustine, FL	2.0	2.0	1115	$2,600	$2.33	23d	1	1.27mi
36 Weeden St Unit 1281973P St. Augustine, FL	2.0	1.5	957	$3,854	$4.03	7d	1	1.28mi
72 Abbott St Unit 1281926P St. Augustine, FL	1.0	1.5	796	$3,566	$4.48	1d	1	1.30mi
138 Oviedo St Unit A St. Augustine, FL	2.0	1.0	995	$1,695	$1.70	3d	1	1.37mi

HOA detail condo

• Monthly dues: $611 · $7,332/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $295,900 Active 285 DOM
2. 2026-06-17
   days on market $295,900 Active 284 DOM
3. 2026-06-16
   days on market $295,900 Active 283 DOM
4. 2026-06-15
   days on market $295,900 Active 282 DOM
5. 2026-06-13
   days on market $295,900 Active 280 DOM
6. 2026-06-13
   days on market $295,900 Active 279 DOM
7. 2026-06-10
   days on market $295,900 Active 276 DOM
8. 2026-06-08
   days on market $295,900 Active 275 DOM
9. 2026-06-07
   days on market $295,900 Active 274 DOM
10. 2026-06-03
    days on market $295,900 Active 270 DOM
11. 2026-06-02
    days on market $295,900 Active 269 DOM
12. 2026-06-01
    days on market $295,900 Active 268 DOM
13. 2026-05-31
    days on market $295,900 Active 267 DOM
14. 2026-04-14
    price $295,900 916-char remark

    Show marketing remark (921 chars)

    Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island, this fully renovated 2BR/1.5 BA residence offers 1,098 sq. ft. of low-maintenance coastal living, the unit is ideally suited as a vacation home, investment property, or full-time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi-open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering, lots of natural light, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

15. 2026-04-14
    price $295,900 921-char remark

    Show marketing remark (921 chars)

    Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island, this fully renovated 2BR/1.5 BA residence offers 1,098 sq. ft. of low-maintenance coastal living, the unit is ideally suited as a vacation home, investment property, or full-time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi-open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering, lots of natural light, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

16. 2026-03-02
    status Active 916-char remark

    Show marketing remark (916 chars)

    Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island this fully renovated 2BR/1.5 BA residence offers 1,098 sq ft of low-maintenance coastal living and is ideally suited as a vacation home, investment property, or full time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering abundant natural lighting, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

17. 2026-02-28
    historical 916-char remark

    Show marketing remark (916 chars)

    Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island this fully renovated 2BR/1.5 BA residence offers 1,098 sq ft of low-maintenance coastal living and is ideally suited as a vacation home, investment property, or full time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering abundant natural lighting, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

18. 2025-09-04
    listed $310,000 Active 916-char remark

    Show marketing remark (921 chars)

    Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island, this fully renovated 2BR/1.5 BA residence offers 1,098 sq. ft. of low-maintenance coastal living, the unit is ideally suited as a vacation home, investment property, or full-time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi-open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering, lots of natural light, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

19. 2025-09-04
    listed $310,000 Active 921-char remark

    Show marketing remark (921 chars)

    Don't miss this rare opportunity to own a turn-key end-unit townhome in Salt Run II. Located in Davis Shores on Anastasia Island, this fully renovated 2BR/1.5 BA residence offers 1,098 sq. ft. of low-maintenance coastal living, the unit is ideally suited as a vacation home, investment property, or full-time residence. Recent upgrades include stainless steel appliances, luxury vinyl plank flooring in the bedrooms, and tile throughout the ground floor and wet areas. New modern fixtures create a stylish and comfortable interior. The semi-open concept kitchen seamlessly connects to the living and dining areas. Both bedrooms are located on the second floor, each offering, lots of natural light, walk in closets and a shared updated bath. Enjoy outdoor relaxation with covered porches on both levels as well as a shared courtyard. This unit also boasts of an assigned parking space and one of 5 coveted carport spaces.

20. 2021-09-07
    soldstatus $255,000 Sold
21. 2021-09-07
    soldstatus $255,000 Closed
22. 2021-09-01
    status Pending
23. 2021-08-24
    historical Active - Contingent
24. 2021-08-24
    historical Contingent- Accepting Backups
25. 2021-08-22
    listed $250,000 Active
26. 2021-08-22
    listed $250,000 Active
27. 2018-06-08
    soldstatus $149,900
28. 2018-06-04
    soldstatus $149,900 Sold
29. 2018-06-04
    soldstatus $149,900
30. 2018-04-12
    status Pending
31. 2018-04-12
    historical
32. 2018-04-09
    listed $149,900 Active
33. 2018-04-09
    listed $149,900
34. 1987-04-01
    soldstatus $56,000
35. 1982-01-01
    soldstatus $43,300
36. 1981-10-01
    soldstatus $548,000

ⓘ 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: $4,602 · $384/mo
• Projected year-2 tax: $4,602 · $384/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $43,311
• − Mortgage interest: −$16,575
• − Property taxes: −$4,602
• − Insurance: −$6,598
• − Repairs & maintenance: −$3,465
• − Management: −$3,465
• − HOA: −$7,332
• − Depreciation: −$8,608
• Taxable loss: −$7,335
• Est. tax savings @ 24.0%: +$1,760
• After-tax cash flow: $-1,178/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 — St. Augustine

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Augustine, FL
• County: Saint Johns County · 301,599 people
• Metro: Jacksonville, FL
• Population (ZIP): 20,894
• Household income: $92,531
• Rent vs Own: 19.4% rent · 80.6% own
• Severe rent burden: 417.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 4% Slovak 3%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -560.06%
• Current HPI: 301.5733
• Rent YoY: ▼ -0.97%
• 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

-46.0% since first listed

23 events — show timeline

• 2026-04-14 Price Changed $295,900 realMLS
• 2026-04-14 Price Changed $295,900 St. Augustine and St. Johns County Board of REALTORS®
• 2026-03-02 Relisted — realMLS
• 2026-02-28 Listing Removed — realMLS
• 2025-09-04 Listed $310,000 St. Augustine and St. Johns County Board of REALTORS®
• 2025-09-04 Listed $310,000 realMLS
• 2021-09-07 Sold (MLS) $255,000 St. Augustine and St. Johns County Board of REALTORS®
• 2021-09-07 Sold (MLS) $255,000 realMLS
• 2021-09-01 Pending — realMLS
• 2021-08-24 Contingent — realMLS
• 2021-08-24 Contingent — St. Augustine and St. Johns County Board of REALTORS®
• 2021-08-22 Listed $250,000 St. Augustine and St. Johns County Board of REALTORS®
• 2021-08-22 Listed $250,000 realMLS
• 2018-06-08 Sold (Public Records) $149,900 Public Records
• 2018-06-04 Sold (MLS) $149,900 St. Augustine and St. Johns County Board of REALTORS®
• 2018-06-04 Sold (MLS) $149,900 realMLS
• 2018-04-12 Pending — realMLS
• 2018-04-12 Delisted — St. Augustine and St. Johns County Board of REALTORS®
• 2018-04-09 Listed $149,900 St. Augustine and St. Johns County Board of REALTORS®
• 2018-04-09 Listed $149,900 realMLS
• 1987-04-01 Sold (Public Records) $56,000 Public Records
• 1982-01-01 Sold (Public Records) $43,300 Public Records
• 1981-10-01 Sold (Public Records) $548,000 Public Records

Property tax history

+8.8%/yr

Latest (2025): $4,602 · -11.4% YoY. Source: county tax records.