Investing in St. Johns County
St. Johns County covers 2 rental markets we actively finance in Florida — Ponte Vedra Beach, St. Augustine. Across those markets the median investment basis averages $590,000, a long-term lease averages $2,850/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $4,495. That produces a county-wide average DSCR ratio near 0.69x.
Basis varies more inside St. Johns County than the average suggests. St. Augustine is the lowest entry point at roughly $430,000, while St. Augustine currently models the strongest coverage ratio in the county at 0.86x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.