122 Rio Del Mar St Unit A · Butler Beach, FL 32080

$229,000

2 bd · 1.5 ba · 880 sqft · Condo public records · 48 Days on market

Built 1983 $260/sqft · 17% below area Est $275k · 17% under $300/mo HOA · 13% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Schools +6.4/10.0
• 1% rule +4.9/10.0
• DSCR +3.8/10.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the proximity to fine, white sand of St. Augustine's pristine beach from this cute, updated single story condo. One of 3 units in this building Rio Del Mar has lots of green space plus its own private front & back entrances. Off street parking plus lovely outdoor sitting areas. Updates include newer tile, carpet, kitchen, bathrooms, paint, plus a new septic system, & newer Heating/cooling system. Use as a rental or keep for your own part-time use. We love our ''snow-birds''!

Key facts

• Attic storage
• Tile flooring
• Updated kitchen

Tags

• TILE FLOORING
• UPDATED KITCHEN
• IN UNIT LAUNDRY
• OUTDOOR SHOWER
• ASSIGNED PARKING SPACES
• ATTIC STORAGE

Property features AI

Finance

• HOA & community: Monthly HOA with $300 association/maintenance fee; HOA covers community maintenance, exterior maintenance, master policy, sewer, and water

Exterior

• Parking: Assigned parking
• Utilities: County water; Septic waste
• Home design: Ground-level entry
• Construction: Concrete block, frame, stucco, and Hardie Board construction; Shingle roof; Slab foundation
• Exterior features: HOA-maintained community

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Master bedroom on ground level
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Tile flooring; Ceiling fans
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $-449 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (34.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (0.6% below list).
• Recommended offer: $150k (34.6% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 2.2% in Butler Beach — 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 61/100 on livability (#784 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A-; Watch: health & safety C-, schools D, amenities 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 soft (-1.0%/yr); 534 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $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 48 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $125k; list at $229k implies a 83% gain — meaningful room to come down on a strong offer.

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; 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 $149,725 (34.6% 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 48 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.99% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 8.4

CMA / ARV

• ARV (median comp): $274,932
• List price: $229,000
• Delta: -16.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -36.2%
• Equity multiple: -0.12×
• Total profit: $-71,917
• Equity at exit: $34,145

10-year hold

• IRR: -87.4%
• Equity multiple: -0.92×
• Total profit: $-123,407
• Equity at exit: $19,800

Cash invested: $64,120 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,276 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$95
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$300
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-449

Break-even live

Break-even rent $2,844

Max offer price $149,725

Occupancy floor —

Sensitivity live

Price	-10% $-319	-5% $-384	+0% $-449	+5% $-514	+10% $-578
Rent	-10% $-629	-5% $-539	+0% $-449	+5% $-359	+10% $-269
Rate	-1.0pp $-333	-0.5pp $-391	base $-449	+0.5pp $-508	+1.0pp $-568

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
95 Dondanville Rd Unit 1509619P St. Augustine, FL	2.0	2.0	1033	$3,050	$2.95	3d	1	0.24mi
4250 A1A S Unit 1538861P St. Augustine, FL	2.0	2.0	1033	$2,586	$2.50	2d	1	0.29mi
1733 Sea Fair Dr Unit 1509620P St. Augustine, FL	2.0	2.5	1119	$3,148	$2.81	2d	1	0.43mi
130 Ocean Hibiscus Dr Unit 1253546P St. Augustine, FL	2.0	2.0	968	$3,076	$3.18	17d	1	0.64mi
120 Ocean Hibiscus Dr Unit 1253536P St. Augustine, FL	2.0	2.0	904	$2,219	$2.45	3d	1	0.65mi
210 Ocean Hibiscus Dr Unit 1253509P St. Augustine, FL	2.0	2.0	1076	$5,686	$5.28	15d	1	0.74mi
200 Sevilla St Unit B St. Augustine, FL	2.0	1.0	1020	$1,850	$1.81	4d	1	1.28mi
200 Sevilla St Unit B St. Augustine, FL	2.0	1.0	1020	$1,850	$1.81	8d	1	1.28mi
40 Andalusia Ct Unit 40 St. Augustine, FL	2.0	2.0	920	$1,650	$1.79	24d	1	1.37mi
22 Veronese Ct Saint Augustine, FL	2.0	2.0	920	$1,275	$1.39	17d	1	1.39mi
14 Santiago Ct Saint Augustine, FL	2.0	2.0	902	$1,495	$1.66	18d	1	1.42mi
14 Santiago Ct Saint Augustine, FL	2.0	2.0	902	$1,495	$1.66	24d	1	1.42mi
54 Veronese Ct Saint Augustine, FL	2.0	2.0	920	$1,495	$1.62	4d	1	1.43mi
13 Navarra Ct Saint Augustine, FL	2.0	2.0	1074	$1,695	$1.58	8d	1	1.44mi
16 Alcira Ct Unit 16 St. Augustine, FL	2.0	2.0	920	$1,500	$1.63	8d	1	1.44mi
7 Castania Ct Saint Augustine, FL	2.0	2.0	880	$1,700	$1.93	24d	1	1.44mi
9 Tarragona Ct Saint Augustine, FL	2.0	2.0	880	$1,600	$1.82	24d	1	1.44mi
37 Tarragona Ct #37 St. Augustine, FL	2.0	2.0	880	$1,600	$1.82	8d	1	1.45mi
15 Cartagena Ct Saint Augustine, FL	2.0	2.0	880	$1,850	$2.10	15d	1	1.45mi
4 Tarragona Ct Saint Augustine, FL	2.0	2.0	920	$1,550	$1.68	24d	1	1.45mi
880 A1A Beach Blvd Unit 1509621P St. Augustine, FL	2.0	2.0	871	$4,601	$5.28	24d	1	1.48mi
880 Jimmy Buffett Memorial Hwy Unit 1259091P St. Augustine, FL	2.0	2.0	871	$2,755	$3.16	2d	1	1.48mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $229,000 Active 48 DOM
2. 2026-06-17
   days on market $229,000 Active 47 DOM
3. 2026-06-16
   days on market $229,000 Active 46 DOM
4. 2026-06-15
   days on market $229,000 Active 45 DOM
5. 2026-06-13
   days on market $229,000 Active 43 DOM
6. 2026-06-13
   days on market $229,000 Active 42 DOM
7. 2026-06-10
   days on market $229,000 Active 39 DOM
8. 2026-06-08
   days on market $229,000 Active 38 DOM
9. 2026-06-07
   days on market $229,000 Active 37 DOM
10. 2026-06-03
    days on market $229,000 Active 33 DOM
11. 2026-06-02
    days on market $229,000 Active 32 DOM
12. 2026-06-01
    days on market $229,000 Active 31 DOM
13. 2026-05-31
    days on market $229,000 Active 30 DOM
14. 2026-05-01
    listed $229,000 Active 860-char remark
15. 2016-03-18
    soldstatus $125,000 Sold 499-char remark

    Show marketing remark (499 chars)

    Enjoy the proximity to fine, white sand of St. Augustine's pristine beach from this cute, updated single story condo. One of 3 units in this building Rio Del Mar has lots of green space plus its own private front & back entrances. Off street parking plus lovely outdoor sitting areas. Updates include newer tile, carpet, kitchen, bathrooms, paint, plus a new septic system, & newer Heating/cooling system. Use as a rental or keep for your own part-time use. We love our ''snow-birds''!

16. 2016-03-03
    soldstatus $125,000
17. 2016-01-29
    status Pending 499-char remark

    Show marketing remark (499 chars)

    Enjoy the proximity to fine, white sand of St. Augustine's pristine beach from this cute, updated single story condo. One of 3 units in this building Rio Del Mar has lots of green space plus its own private front & back entrances. Off street parking plus lovely outdoor sitting areas. Updates include newer tile, carpet, kitchen, bathrooms, paint, plus a new septic system, & newer Heating/cooling system. Use as a rental or keep for your own part-time use. We love our ''snow-birds''!

18. 2016-01-12
    historical Active - Contingent 499-char remark

    Show marketing remark (499 chars)

    Enjoy the proximity to fine, white sand of St. Augustine's pristine beach from this cute, updated single story condo. One of 3 units in this building Rio Del Mar has lots of green space plus its own private front & back entrances. Off street parking plus lovely outdoor sitting areas. Updates include newer tile, carpet, kitchen, bathrooms, paint, plus a new septic system, & newer Heating/cooling system. Use as a rental or keep for your own part-time use. We love our ''snow-birds''!

19. 2015-11-28
    listed $130,000 Active 499-char remark

    Show marketing remark (499 chars)

    Enjoy the proximity to fine, white sand of St. Augustine's pristine beach from this cute, updated single story condo. One of 3 units in this building Rio Del Mar has lots of green space plus its own private front & back entrances. Off street parking plus lovely outdoor sitting areas. Updates include newer tile, carpet, kitchen, bathrooms, paint, plus a new septic system, & newer Heating/cooling system. Use as a rental or keep for your own part-time use. We love our ''snow-birds''!

20. 1999-03-03
    soldstatus $70,000
21. 1983-04-01
    soldstatus $42,900

ⓘ 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: $2,687 · $224/mo
• Projected year-2 tax: $2,687 · $224/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 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: $27,312
• − Mortgage interest: −$12,828
• − Property taxes: −$2,687
• − Insurance: −$6,264
• − Repairs & maintenance: −$2,185
• − Management: −$2,185
• − HOA: −$3,600
• − Depreciation: −$6,662
• Taxable loss: −$9,098
• Est. tax savings @ 24.0%: +$2,184
• After-tax cash flow: $-3,202/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 — Butler Beach

• Score: 61/100
• State rank: #784
• US rank: #17810

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A- Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Butler Beach, FL
• County: Saint Johns County · 301,599 people
• City population: 21,368
• 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

+433.8% since first listed

10 events — show timeline

• 2026-05-26 Relisted — St. Augustine and St. Johns County Board of REALTORS®
• 2026-05-22 Contingent — St. Augustine and St. Johns County Board of REALTORS®
• 2026-05-01 Listed $229,000 St. Augustine and St. Johns County Board of REALTORS®
• 2016-03-18 Sold (MLS) $125,000 realMLS
• 2016-03-03 Sold (Public Records) $125,000 Public Records
• 2016-01-29 Pending — realMLS
• 2016-01-12 Contingent — realMLS
• 2015-11-28 Listed $130,000 realMLS
• 1999-03-03 Sold (Public Records) $70,000 Public Records
• 1983-04-01 Sold (Public Records) $42,900 Public Records

Property tax history

+13.7%/yr

Latest (2025): $2,687 · +8.6% YoY. Source: county tax records.