28 Catalonia Ct · St. Augustine Shores, FL 32086

$174,900

2 bd · 2.0 ba · 902 sqft · Condo public records · 63 Days on market

Built 1991 $194/sqft · 7% below area Est $188k · 7% under $410/mo HOA · 24% of rent

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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).

• ARV discount +10.6/15.0
• Cash flow +8.6/30.0
• Schools +6.4/10.0
• 1% rule +4.6/10.0
• Rent growth +2.7/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience relaxed Florida living in the highly sought-after Conquistador Condominiums at St. Augustine Shores. This 902 sq ft 2-bedroom, 2-bathroom second-floor condo at 28 Catalonia Ct offers a thoughtfully designed open floor plan highlighted by vaulted ceilings in the living room, dining room and primary suite. The living area flows seamlessly through dual patio doors to an oversized screened lanai, providing a peaceful outdoor sanctuary to enjoy your morning coffee or evening breezes. The interior is practical and inviting, featuring durable laminate wood flooring, wood accent walls and tile throughout. The spacious primary suite serves as a quiet retreat with vaulted ceilings and an updated vanity, complemented by a second bedroom and guest bath, equipped with a convenient walk-in shower that has been tastefully updated in tile. It has a spacious living area that can be used as a great room or a living/dining combo area,

Key facts

• Open floor plan
• Wood accent walls
• Vaulted ceilings

Tags

• OPEN FLOOR PLAN
• VAULTED CEILINGS
• OVERSIZED SCREENED LANAI
• DURABLE LAMINATE WOOD FLOORING
• WOOD ACCENT WALLS
• UPDATED VANITY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (15.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (3.9% below list).
• Recommended offer: $148k (15.3% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.4% in St. Augustine Shores — 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 D — 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; 408 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 ($164k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 9y 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 $118k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: moderate flood risk; 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 $148,171 (15.3% 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 63 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 5.25%
• Cash-on-cash: -3.71%
• DSCR: 0.84
• GRM: 8.7

CMA / ARV

• ARV (median comp): $187,818
• List price: $174,900
• Delta: -6.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -25.4%
• Equity multiple: 0.16×
• Total profit: $-41,347
• Equity at exit: $26,078

10-year hold

• IRR: -32.5%
• Equity multiple: -0.26×
• Total profit: $-61,629
• Equity at exit: $15,122

Cash invested: $48,972 (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 32086

• Rents YoY: 0.8%
• Active inventory: 408
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,681 high
• Mortgage (P&I): −$917
• Tax from tax record: −$79 /mo · $954/yr
• Insurance: −$73
• HOA: −$410
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-151

Break-even live

Break-even rent $1,873

Max offer price $148,171

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-102	+0% $-151	+5% $-201	+10% $-250
Rent	-10% $-284	-5% $-218	+0% $-151	+5% $-85	+10% $-18
Rate	-1.0pp $-63	-0.5pp $-107	base $-151	+0.5pp $-197	+1.0pp $-243

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13 Navarra Ct Saint Augustine, FL	2.0	2.0	1074	$1,695	$1.58	8d	1	0.03mi
54 Veronese Ct Saint Augustine, FL	2.0	2.0	920	$1,495	$1.62	4d	1	0.04mi
7 Castania Ct Saint Augustine, FL	2.0	2.0	880	$1,700	$1.93	25d	1	0.05mi
22 Veronese Ct Saint Augustine, FL	2.0	2.0	920	$1,275	$1.39	17d	1	0.07mi
14 Santiago Ct Saint Augustine, FL	2.0	2.0	902	$1,495	$1.66	18d	1	0.07mi
14 Santiago Ct Saint Augustine, FL	2.0	2.0	902	$1,495	$1.66	25d	1	0.07mi
40 Andalusia Ct Unit 40 St. Augustine, FL	2.0	2.0	920	$1,650	$1.79	25d	1	0.13mi
16 Alcira Ct Unit 16 St. Augustine, FL	2.0	2.0	920	$1,500	$1.63	8d	1	0.18mi
4 Tarragona Ct Saint Augustine, FL	2.0	2.0	920	$1,550	$1.68	25d	1	0.22mi
9 Tarragona Ct Saint Augustine, FL	2.0	2.0	880	$1,600	$1.82	25d	1	0.23mi
37 Tarragona Ct #37 St. Augustine, FL	2.0	2.0	880	$1,600	$1.82	8d	1	0.24mi
15 Cartagena Ct Saint Augustine, FL	2.0	2.0	880	$1,850	$2.10	16d	1	0.29mi
968 Salzedo Ave Saint Augustine, FL	2.0	2.0	1036	$2,100	$2.03	25d	1	0.81mi
146 Phoenetia Dr St Augustine, FL	3.0	2.0	1042	$1,900	$1.82	4d	1	1.46mi

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-21
   days on market $174,900 Active 63 DOM
2. 2026-06-18
   days on market $174,900 Active 60 DOM
3. 2026-06-17
   days on market $174,900 Active 59 DOM
4. 2026-06-16
   days on market $174,900 Active 58 DOM
5. 2026-06-15
   days on market $174,900 Active 57 DOM
6. 2026-06-13
   days on market $174,900 Active 55 DOM
7. 2026-06-13
   days on market $174,900 Active 54 DOM
8. 2026-06-10
   days on market $174,900 Active 51 DOM
9. 2026-06-08
   days on market $174,900 Active 50 DOM
10. 2026-06-07
    days on market $174,900 Active 49 DOM
11. 2026-06-03
    days on market $174,900 Active 45 DOM
12. 2026-06-02
    days on market $174,900 Active 44 DOM
13. 2026-06-01
    days on market $174,900 Active 43 DOM
14. 2026-05-31
    days on market $174,900 Active 42 DOM
15. 2026-04-19
    listed $174,900 Active 940-char remark

    Show marketing remark (940 chars)

    Experience relaxed Florida living in the highly sought-after Conquistador Condominiums at St. Augustine Shores. This 902 sq ft 2-bedroom, 2-bathroom second-floor condo at 28 Catalonia Ct offers a thoughtfully designed open floor plan highlighted by vaulted ceilings in the living room, dining room and primary suite. The living area flows seamlessly through dual patio doors to an oversized screened lanai, providing a peaceful outdoor sanctuary to enjoy your morning coffee or evening breezes. The interior is practical and inviting, featuring durable laminate wood flooring, wood accent walls and tile throughout. The spacious primary suite serves as a quiet retreat with vaulted ceilings and an updated vanity, complemented by a second bedroom and guest bath, equipped with a convenient walk-in shower that has been tastefully updated in tile. It has a spacious living area that can be used as a great room or a living/dining combo area,

16. 2023-10-18
    historical 1856-char remark

    Show marketing remark (1856 chars)

    The Conquistador's Complex is nestled on the intracoastal waterway surrounded by mature oak trees. The 2-bedroom 2 bath unit is on the second floor with screened in lanai. This condo has a new air conditioner 2022; a new stackable washer/dryer; laminate wood flooring throughout. Some upgrades in the master bath; the guest bath has a beautiful tiled step-in shower. The cathedral ceiling gives this home a larger feel along with the two sliding doors that open to the screened lanai. Facing the beautiful treed area with no other buildings in view, is the great feature of this lanai and offers complete privacy for the morning coffee or evening cocktail. Taking a short walk to the intracoastal to watch the sunrise/sunset is the most enjoyable way to start or end your day. If you're into activities such as tennis, pickleball, fishing or jogging you've come to the right place! The Conquistadors has tennis courts that are kept to perfection. The Riverview Club offers a dock for fishing, a biking and walking area, a gazebo for relaxing and boat watching. For a minimum fee the Riverview Club offers a large pool overlooking the intracoastal, a library, and a large party room. One of the pools in the Condo complex is heated for usage during the colder months. The Conquistador's resides in the St Augustine Shores Development. Each owner is considered a member of that master association. The HOA fee is $31.80/month due on the first of each month. This community is near Crescent Beach on Anastasia Island, and hotels for your guests. Restaurants, historic downtown St Augustine is within a 20-minute drive. Jacksonville, with all its cultural attractions, is less than 2 hours away. Flagler College, St Johns River Community College, and University of St Augustine Health Sciences are great educational universities located within a short drive.

17. 2023-08-31
    listed $225,000 Active 1856-char remark

    Show marketing remark (1856 chars)

    The Conquistador's Complex is nestled on the intracoastal waterway surrounded by mature oak trees. The 2-bedroom 2 bath unit is on the second floor with screened in lanai. This condo has a new air conditioner 2022; a new stackable washer/dryer; laminate wood flooring throughout. Some upgrades in the master bath; the guest bath has a beautiful tiled step-in shower. The cathedral ceiling gives this home a larger feel along with the two sliding doors that open to the screened lanai. Facing the beautiful treed area with no other buildings in view, is the great feature of this lanai and offers complete privacy for the morning coffee or evening cocktail. Taking a short walk to the intracoastal to watch the sunrise/sunset is the most enjoyable way to start or end your day. If you're into activities such as tennis, pickleball, fishing or jogging you've come to the right place! The Conquistadors has tennis courts that are kept to perfection. The Riverview Club offers a dock for fishing, a biking and walking area, a gazebo for relaxing and boat watching. For a minimum fee the Riverview Club offers a large pool overlooking the intracoastal, a library, and a large party room. One of the pools in the Condo complex is heated for usage during the colder months. The Conquistador's resides in the St Augustine Shores Development. Each owner is considered a member of that master association. The HOA fee is $31.80/month due on the first of each month. This community is near Crescent Beach on Anastasia Island, and hotels for your guests. Restaurants, historic downtown St Augustine is within a 20-minute drive. Jacksonville, with all its cultural attractions, is less than 2 hours away. Flagler College, St Johns River Community College, and University of St Augustine Health Sciences are great educational universities located within a short drive.

18. 2023-08-25
    historical
19. 2023-07-24
    listed $225,000 Active
20. 2018-08-27
    soldstatus $117,700
21. 2018-08-20
    soldstatus $117,700 Sold
22. 2018-08-20
    soldstatus $117,700 Closed
23. 2018-07-16
    status Pending
24. 2018-07-16
    historical Contingent
25. 2018-06-29
    status Active
26. 2018-06-29
    status Active
27. 2018-06-27
    listed Contingent
28. 2018-06-14
    status Pending
29. 2018-03-04
    listed $117,700 Active
30. 2018-03-04
    listed $117,700
31. 2017-11-02
    historical
32. 2017-08-15
    listed $115,700 Active
33. 2017-04-30
    historical
34. 2017-01-24
    listed $115,700 Active
35. 2006-01-04
    soldstatus $157,500
36. 2003-02-05
    soldstatus $91,200
37. 1994-12-13
    soldstatus $61,080
38. 1991-06-19
    soldstatus $54,900

ⓘ 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: $954 · $79/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$498/yr (+$41/mo · 52.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°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: $20,176
• − Mortgage interest: −$9,797
• − Property taxes: −$954
• − Insurance: −$874
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − HOA: −$4,920
• − Depreciation: −$5,088
• Taxable loss: −$4,686
• Est. tax savings @ 24.0%: +$1,125
• After-tax cash flow: $-691/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 Shores

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

Census & demographics

• Census place: St. Augustine Shores, FL
• County: Saint Johns County · 301,599 people
• Metro: Jacksonville, FL
• Population (ZIP): 34,855
• Household income: $76,512
• Rent vs Own: 20.8% rent · 79.2% own
• Severe rent burden: 634.0

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 7% · Canada, Jamaica, Guatemala
• Languages at home: 91% English-only · Spanish 5% German/W. Germanic 1% 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: ▼ -278.21%
• Current HPI: 306.2813
• Rent YoY: ▲ 0.85%
• 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

+218.6% since first listed

24 events — show timeline

• 2026-04-19 Listed $174,900 St. Augustine and St. Johns County Board of REALTORS®
• 2023-10-18 Listing Removed — realMLS
• 2023-08-31 Listed $225,000 realMLS
• 2023-08-25 Listing Removed — realMLS
• 2023-07-24 Listed $225,000 realMLS
• 2018-08-27 Sold (Public Records) $117,700 Public Records
• 2018-08-20 Sold (MLS) $117,700 St. Augustine and St. Johns County Board of REALTORS®
• 2018-08-20 Sold (MLS) $117,700 realMLS
• 2018-07-16 Pending — realMLS
• 2018-07-16 Contingent — St. Augustine and St. Johns County Board of REALTORS®
• 2018-06-29 Relisted — realMLS
• 2018-06-29 Relisted — St. Augustine and St. Johns County Board of REALTORS®
• 2018-06-27 Listed — St. Augustine and St. Johns County Board of REALTORS®
• 2018-06-14 Pending — realMLS
• 2018-03-04 Listed $117,700 St. Augustine and St. Johns County Board of REALTORS®
• 2018-03-04 Listed $117,700 realMLS
• 2017-11-02 Listing Removed — realMLS
• 2017-08-15 Listed $115,700 realMLS
• 2017-04-30 Listing Removed — realMLS
• 2017-01-24 Listed $115,700 realMLS
• 2006-01-04 Sold (Public Records) $157,500 Public Records
• 2003-02-05 Sold (Public Records) $91,200 Public Records
• 1994-12-13 Sold (Public Records) $61,080 Public Records
• 1991-06-19 Sold (Public Records) $54,900 Public Records

Property tax history

+0.2%/yr

Latest (2025): $954 · +13.5% YoY. Source: county tax records.