370 N Clay St · St. Augustine, FL 32084

$230,000

3 bd · 2.0 ba · 896 sqft · Land · 401 Days on market

Built 2014 $257/sqft · 55% above area

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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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• 1% rule +5.7/10.0
• Rent growth +2.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-kept 3-bedroom, 2-bath mobile home offers comfort and convenience just minutes from downtown, shopping, and dining. A perfect option for those seeking value and accessibility in a prime location!

Key facts

• Additional lot
• Prime location
• Built 2014

Tags

• PRIME LOCATION
• ADDITIONAL LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $230k.

Deal economics

• At list price, monthly cash flow is $588 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 flat; 631 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).
• This rent runs 40% of the median local income ($74k/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 $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 401 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $135k; list at $230k implies a 70% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 401 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
5. 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.
6. 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: 1.07% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• GRM: 7.8

CMA / ARV

• ARV (median comp): $148,550
• List price: $230,000
• Delta: 54.83%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.25% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-6,535
• Equity at exit: $34,294

10-year hold

• IRR: 3.9%
• Equity multiple: 1.25×
• Total profit: $16,409
• Equity at exit: $19,886

Cash invested: $64,400 (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 32084

• Rents YoY: 0.2%
• Active inventory: 631
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,457 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$51 /mo · $609/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $588

Break-even live

Break-even rent $1,712

Max offer price $230,000

Occupancy floor 71%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1004 Josiah St Unit 1281918P St. Augustine, FL	3.0	2.0	1097	$3,893	$3.55	13d	1	0.37mi
1000 Josiah St Unit 1281953P St. Augustine, FL	3.0	2.0	1097	$3,526	$3.21	12d	1	0.38mi
1040 W 7th St Saint Augustine, FL	2.0	2.0	1108	$2,195	$1.98	1d	1	0.46mi
736 W King St Unit A St. Augustine, FL	2.0	1.0	688	$1,750	$2.54	17d	1	0.74mi
289 W Jayce Way Saint Augustine, FL	3.0	2.0	1102	$1,851	$1.68	13d	1	0.94mi
20 Rollins Ave Saint Augustine, FL	3.0	1.0	828	$1,500	$1.81	23d	1	1.23mi
56 Masters Dr Unit D St. Augustine, FL	2.0	1.5	900	$1,300	$1.44	23d	1	1.24mi
60 Masters Dr Unit C St. Augustine, FL	2.0	1.5	900	$1,300	$1.44	23d	1	1.24mi
177 Palmer St Unit B St. Augustine, FL	2.0	1.0	900	$1,350	$1.50	23d	1	1.46mi
228 Nesmith Ave Saint Augustine, FL	2.0	2.0	1080	$2,500	$2.31	14d	1	1.50mi

Listing history 18 events

1. 2026-06-18
   days on market $230,000 Active 401 DOM
2. 2026-06-17
   days on market $230,000 Active 400 DOM
3. 2026-06-16
   days on market $230,000 Active 399 DOM
4. 2026-06-15
   days on market $230,000 Active 398 DOM
5. 2026-06-13
   days on market $230,000 Active 396 DOM
6. 2026-06-13
   days on market $230,000 Active 395 DOM
7. 2026-06-10
   days on market $230,000 Active 392 DOM
8. 2026-06-08
   days on market $230,000 Active 391 DOM
9. 2026-06-07
   days on market $230,000 Active 390 DOM
10. 2026-06-03
    days on market $230,000 Active 386 DOM
11. 2026-06-02
    days on market $230,000 Active 385 DOM
12. 2026-06-01
    days on market $230,000 Active 384 DOM
13. 2026-05-31
    days on market $230,000 Active 383 DOM
14. 2025-05-13
    listed $230,000 Active 205-char remark

    Show marketing remark (205 chars)

    This well-kept 3-bedroom, 2-bath mobile home offers comfort and convenience just minutes from downtown, shopping, and dining. A perfect option for those seeking value and accessibility in a prime location!

15. 2024-08-15
    soldstatus $135,000
16. 2023-09-26
    historical 517-char remark

    Show marketing remark (517 chars)

    Investor Alert!!!! This 2014 2 bedroom 2 bathroom manufactured home is up for grabs. Boasting a beautiful open concept floor plan just under 900 square feet. New items: A/C under 6months, off street concrete driveway, septic, and water hookups. Has an outstanding tenant currently. Nestled off King Street extension, near shopping, downtown, beach, schools, and private schools. This home is well-maintained, with in-house laundry. This is a turnkey investment or starter home all under $225,000 in St. John's county.

17. 2023-07-19
    price $199,900 517-char remark

    Show marketing remark (517 chars)

    Investor Alert!!!! This 2014 2 bedroom 2 bathroom manufactured home is up for grabs. Boasting a beautiful open concept floor plan just under 900 square feet. New items: A/C under 6months, off street concrete driveway, septic, and water hookups. Has an outstanding tenant currently. Nestled off King Street extension, near shopping, downtown, beach, schools, and private schools. This home is well-maintained, with in-house laundry. This is a turnkey investment or starter home all under $225,000 in St. John's county.

18. 2023-06-24
    listed $215,000 Active 517-char remark

    Show marketing remark (517 chars)

    Investor Alert!!!! This 2014 2 bedroom 2 bathroom manufactured home is up for grabs. Boasting a beautiful open concept floor plan just under 900 square feet. New items: A/C under 6months, off street concrete driveway, septic, and water hookups. Has an outstanding tenant currently. Nestled off King Street extension, near shopping, downtown, beach, schools, and private schools. This home is well-maintained, with in-house laundry. This is a turnkey investment or starter home all under $225,000 in St. John's county.

ⓘ 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: $609 · $51/mo
• Projected year-2 tax: $1,909 · $159/mo
• Expected delta: +$1,300/yr (+$108/mo · 213.6%)

ⓘ 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 ≥106°F today · 20 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: $29,481
• − Mortgage interest: −$12,884
• − Property taxes: −$609
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$6,691
• Taxable income: $3,431
• Est. tax owed @ 24.0%: −$823
• After-tax cash flow: $6,234/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

• County: Saint Johns County · 301,599 people
• Metro: Jacksonville, FL
• Population (ZIP): 37,291
• Household income: $73,837
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1748.0

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% Hispanic / Latino 12% Black 11% Two or more races 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4% Cuban 1%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 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: ▼ -287.02%
• Current HPI: 330.9505
• Rent YoY: ▲ 0.25%
• 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

+7.0% since first listed

5 events — show timeline

• 2025-05-13 Listed $230,000 St. Augustine and St. Johns County Board of REALTORS®
• 2024-08-15 Sold (Public Records) $135,000 Public Records
• 2023-09-26 Listing Removed — realMLS
• 2023-07-19 Price Changed $199,900 realMLS
• 2023-06-24 Listed $215,000 realMLS

Property tax history

+6.6%/yr

Latest (2025): $609 · +71.0% YoY. Source: county tax records.