2277 Felucca Dr · Fleming Island, FL 32068

$199,999

3 bd · 2.0 ba · 1,076 sqft · SingleFamily public records · 5 Days on market

Built 1987 0.25 ac lot Est $242k · 17% under

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• Livability +4.1/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Clay County, Florida!!! This very shaded lot with a big private backyard is perfectly situated near all major centers, popular restaurants, and military bases, offering unmatched convenience for everyday living. Whether commuting, dining out, or running errands, everything needed will be just minutes away. Enjoy the freedom of no CDD fees or HOA fees, allowing more community flexibility and less restrictions. There is a park located at the community boundary for family enjoyment and get togethers. Fleming Island Shopping Center and Doctors Lake are just down the road.

Key facts

• Doctors lake
• Community park
• Spacious lot

Tags

• SPACIOUS LOT
• BIG PRIVATE BACKYARD
• COMMUNITY PARK
• FLEMING ISLAND SHOPPING CENTER
• DOCTORS LAKE

Property features AI

Finance

• HOA & community: Sidewalks; Not a senior community

Exterior

• Parking: Attached 2-car garage with garage door opener
• Utilities: Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Single family residence; One story; Entry level: 1
• Construction: Frame construction with wood siding; Shingle roof
• Exterior features: Full wood fence; Paved road

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Ceiling fan(s); Eat-in kitchen; Wood-burning fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (0.5% below list).
• Recommended offer: $199k (0.5% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.0% in Fleming Island — 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 82/100 on livability (#74 in FL, #1,239 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Clay (suburban): math 58% / reading 59% proficiency, ranked #14 of 73 in FL (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.4%/yr); 601 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,876 units permitted in Clay County in 2024 (14 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 $6k of value loss. Plan a longer hold.
• Clay County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $95k; list at $200k implies a 111% 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; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,055 (0.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.00% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $242,100
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2277 Felucca Dr	0.00mi	3/2.0	1,076 (0%)	0mo	$220,000	$204	100
2246 Botany St	0.12mi	3/2.0	1,212 (+13%)	2mo	$285,000	$235	72
2007 Farm Way	0.26mi	3/2.0	1,179 (+10%)	19mo	$265,000	$225	56
1715 Farm Way	0.30mi	3/2.0	1,208 (+12%)	15mo	$243,000	$201	53
2140 Farm Way	0.43mi	3/2.0	1,228 (+14%)	22mo	$315,000	$257	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.35% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.79×
• Total profit: $-11,956
• Equity at exit: $29,821

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $17,804
• Equity at exit: $17,292

Cash invested: $56,000 (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 32068

• Home prices YoY: -27.5%
• Rents YoY: 3.4%
• Active inventory: 601
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,991 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$130 /mo · $1,555/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $311

Break-even live

Break-even rent $1,597

Max offer price $199,999

Occupancy floor 79%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1715 Farm Way Middleburg, FL	3.0	2.0	1208	$1,899	$1.57	7d	1	0.30mi

Listing history 15 events

1. 2026-05-18
   status Pending
2. 2026-04-30
   listed $199,999 Active
3. 2026-04-10
   historical 587-char remark

   Show marketing remark (587 chars)

   Welcome to Clay County, Florida!!! This very shaded lot with a big private backyard is perfectly situated near all major centers, popular restaurants, and military bases, offering unmatched convenience for everyday living. Whether commuting, dining out, or running errands, everything needed will be just minutes away. Enjoy the freedom of no CDD fees or HOA fees, allowing more community flexibility and less restrictions. There is a park located at the community boundary for family enjoyment and get togethers. Fleming Island Shopping Center and Doctors Lake are just down the road.

4. 2026-02-10
   price $257,500 587-char remark

   Show marketing remark (587 chars)

   Welcome to Clay County, Florida!!! This very shaded lot with a big private backyard is perfectly situated near all major centers, popular restaurants, and military bases, offering unmatched convenience for everyday living. Whether commuting, dining out, or running errands, everything needed will be just minutes away. Enjoy the freedom of no CDD fees or HOA fees, allowing more community flexibility and less restrictions. There is a park located at the community boundary for family enjoyment and get togethers. Fleming Island Shopping Center and Doctors Lake are just down the road.

5. 2026-01-17
   price $264,900 587-char remark

   Show marketing remark (587 chars)

   Welcome to Clay County, Florida!!! This very shaded lot with a big private backyard is perfectly situated near all major centers, popular restaurants, and military bases, offering unmatched convenience for everyday living. Whether commuting, dining out, or running errands, everything needed will be just minutes away. Enjoy the freedom of no CDD fees or HOA fees, allowing more community flexibility and less restrictions. There is a park located at the community boundary for family enjoyment and get togethers. Fleming Island Shopping Center and Doctors Lake are just down the road.

6. 2025-12-17
   listed $272,900 Active 587-char remark

   Show marketing remark (587 chars)

   Welcome to Clay County, Florida!!! This very shaded lot with a big private backyard is perfectly situated near all major centers, popular restaurants, and military bases, offering unmatched convenience for everyday living. Whether commuting, dining out, or running errands, everything needed will be just minutes away. Enjoy the freedom of no CDD fees or HOA fees, allowing more community flexibility and less restrictions. There is a park located at the community boundary for family enjoyment and get togethers. Fleming Island Shopping Center and Doctors Lake are just down the road.

7. 2016-02-17
   soldstatus $95,000 Sold 575-char remark

   Show marketing remark (575 chars)

   Newly remodeled and move in ready! This 3 bedroom 2 bathroom home features large living room with vaulted ceiling, tile floor and stone fireplace, new appliances, new garage door, fresh paint inside and out and large fenced backyard. Buyer advised to verify all information including HOA/CDD info & fees (if applicable). Up to $500 allowance to owner occupant buyers towards the purchase of a home warranty of their choice. This property is eligible under the Freddie Mac First Look Initiative through 10/21/2015. (Offers from owner occupants only for the first 20 days.)

8. 2015-12-21
   status Pending 575-char remark

   Show marketing remark (575 chars)

   Newly remodeled and move in ready! This 3 bedroom 2 bathroom home features large living room with vaulted ceiling, tile floor and stone fireplace, new appliances, new garage door, fresh paint inside and out and large fenced backyard. Buyer advised to verify all information including HOA/CDD info & fees (if applicable). Up to $500 allowance to owner occupant buyers towards the purchase of a home warranty of their choice. This property is eligible under the Freddie Mac First Look Initiative through 10/21/2015. (Offers from owner occupants only for the first 20 days.)

9. 2015-12-15
   historical Active - Contingent 575-char remark

   Show marketing remark (575 chars)

   Newly remodeled and move in ready! This 3 bedroom 2 bathroom home features large living room with vaulted ceiling, tile floor and stone fireplace, new appliances, new garage door, fresh paint inside and out and large fenced backyard. Buyer advised to verify all information including HOA/CDD info & fees (if applicable). Up to $500 allowance to owner occupant buyers towards the purchase of a home warranty of their choice. This property is eligible under the Freddie Mac First Look Initiative through 10/21/2015. (Offers from owner occupants only for the first 20 days.)

10. 2015-10-02
    listed $124,900 Active 575-char remark

    Show marketing remark (575 chars)

    Newly remodeled and move in ready! This 3 bedroom 2 bathroom home features large living room with vaulted ceiling, tile floor and stone fireplace, new appliances, new garage door, fresh paint inside and out and large fenced backyard. Buyer advised to verify all information including HOA/CDD info & fees (if applicable). Up to $500 allowance to owner occupant buyers towards the purchase of a home warranty of their choice. This property is eligible under the Freddie Mac First Look Initiative through 10/21/2015. (Offers from owner occupants only for the first 20 days.)

11. 2015-10-02
    price $114,900 575-char remark

    Show marketing remark (575 chars)

    Newly remodeled and move in ready! This 3 bedroom 2 bathroom home features large living room with vaulted ceiling, tile floor and stone fireplace, new appliances, new garage door, fresh paint inside and out and large fenced backyard. Buyer advised to verify all information including HOA/CDD info & fees (if applicable). Up to $500 allowance to owner occupant buyers towards the purchase of a home warranty of their choice. This property is eligible under the Freddie Mac First Look Initiative through 10/21/2015. (Offers from owner occupants only for the first 20 days.)

12. 2015-10-02
    price $99,900 575-char remark

    Show marketing remark (575 chars)

    Newly remodeled and move in ready! This 3 bedroom 2 bathroom home features large living room with vaulted ceiling, tile floor and stone fireplace, new appliances, new garage door, fresh paint inside and out and large fenced backyard. Buyer advised to verify all information including HOA/CDD info & fees (if applicable). Up to $500 allowance to owner occupant buyers towards the purchase of a home warranty of their choice. This property is eligible under the Freddie Mac First Look Initiative through 10/21/2015. (Offers from owner occupants only for the first 20 days.)

13. 1997-04-04
    soldstatus $73,000
14. 1987-10-21
    soldstatus $61,600
15. 1986-12-01
    soldstatus $13,500

ⓘ 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: $1,555 · $130/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: +$105/yr (+$9/mo · 6.7%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 19 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: $23,887
• − Mortgage interest: −$11,203
• − Property taxes: −$1,555
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,911
• − Management: −$1,911
• − Depreciation: −$5,818
• Taxable income: $488
• Est. tax owed @ 24.0%: −$117
• After-tax cash flow: $3,612/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: Clay
• NCES district ID: 1200300
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $59,379
• Composite: 50.73/100
• National rank: #1815
• State rank: #14 of 73 in FL

Livability — Fleming Island

• Score: 82/100
• State rank: #74
• US rank: #1239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clay County · 208,450 people
• City population: 29,766
• Metro: Jacksonville, FL
• Population (ZIP): 58,983
• Household income: $84,431
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 975.0

Population outlook (Clay County) Hauer SSP2

• Today (2025): 230,495 people
• By 2030: 242,427 · +5.2%
• By 2040: 262,244 · +13.8%
• By 2050: 275,148 · +19.4%
• By 2075: 295,397 · +28.2%
• By 2100: 287,592 · +24.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 13% Two or more races 10% Black 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 9% Arabic 1% German/W. Germanic 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+39.3) · D 29.9% · R 69.2%
• 2008→2024 swing: +3.6pp toward D · 2008: -42.8pp · 2024: -39.3pp
• All cycles: 2024: R+39.3 2020: R+37.1 2016: R+44.3 2012: R+45.8 2008: R+42.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.99%
• Current HPI: 305.2531
• Rent YoY: ▲ 3.35%
• 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

+1381.5% since first listed

15 events — show timeline

• 2026-05-18 Pending — realMLS
• 2026-04-30 Listed $199,999 realMLS
• 2026-04-10 Listing Removed — realMLS
• 2026-02-10 Price Changed $257,500 realMLS
• 2026-01-17 Price Changed $264,900 realMLS
• 2025-12-17 Listed $272,900 realMLS
• 2016-02-17 Sold (MLS) $95,000 realMLS
• 2015-12-21 Pending — realMLS
• 2015-12-15 Contingent — realMLS
• 2015-10-02 Listed $124,900 realMLS
• 2015-10-02 Price Changed $99,900 realMLS
• 2015-10-02 Price Changed $114,900 realMLS
• 1997-04-04 Sold (Public Records) $73,000 Public Records
• 1987-10-21 Sold (Public Records) $61,600 Public Records
• 1986-12-01 Sold (Public Records) $13,500 Public Records

Property tax history

+6.4%/yr

Latest (2025): $1,555 · +4.1% YoY. Source: county tax records.