144 Goldenrod Park Rd

Nocatee, FL 32081

$411,000D-

2 bd · 2.0 ba · 1,348 sqft · Built 2016 · SingleFamily · Active · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,498/mo
• Mortgage (P&I): −$2,155
• Tax + insurance: −$410
• HOA: −$245
• Vac / Maint / Mgmt: −$525
• Net cashflow: $-836/mo
• Annual: $-10,037/yr
• Cap rate: 3.85%
• Cash-on-cash: -8.72%
• DSCR: 0.61
• 1% rule: 0.61%
• Cash to close: $115,080

Investor read

• This is a 2-bed/2.0-bath single-family listed at $411k.
• At list price, monthly cash flow is $-836 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $263k (36.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (39.2% below list).
• It's been on market 150 days — a 12% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $250k (39.2% below list) — sets the bar for 1% rule.
• In year one you build about $832 of equity ($3k loan paydown + $-2k appreciation (-0.5% local appreciation)).
• Location reads 70/100 on livability (#425 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment 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.
• Market conditions: Rents rising (+1.1%/yr); 652 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 5,575 units permitted in St. Johns County in 2024 (584 in 5+ unit buildings).
• St. Johns County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 10y 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 $234k; list at $411k implies a 76% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.9% vs local median 2.5% in Nocatee — 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.

Questions for listing agent

• 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?
• It's been on market 150 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.