Pros & Cons of 345 ABBEY Avenue, St Augustine, FL 32084

This charming low-country bungalow presents a unique opportunity for real estate investors looking for a property with potential. With over 1/3 acre of land and no HOA or CDD fees, this home offers excellent curb appeal and a spacious, fully-fenced yard. While the property requires some cosmetic improvements, it is priced appropriately for a new homeowner with vision. The financial metrics indicate a solid investment, with a cash on cash return of 6.7% and a cap rate of 8.0%. However, potential investors should also consider the age of the roof and AC, which are approximately 10 years old, as well as the need for TLC. Overall, this property could be a great addition to your investment portfolio if approached with the right strategy.

Weighing the Investment Potential

In conclusion, this property offers a compelling investment opportunity with its attractive financial metrics and desirable location. The cash flow of $314 per month and a debt service coverage ratio of 1.3 suggest that the property can comfortably cover its expenses while generating income. However, investors should remain cautious of the property's need for cosmetic updates and the age of critical systems like the roof and AC. Balancing these positive and negative factors will be essential in determining whether this property aligns with your investment strategy. If you're ready to take on a project with potential, consider making an offer today!