Want to buy a repairer in St. Augustine? This 1-bedroom house is for sale for $349,000

ST. AUGUSTINE, Florida. – If you’re looking for good examples of how the housing market has gone wild in northeast Florida, look no further than St. Johns County.

Two so-called major repairers in the Lincolnville neighborhood of St. Augustine that have just hit the market are getting a lot of attention due to their high prices and dilapidated conditions.

One of the houses first spotted by the St. Augustine Record, is a 448 square foot, one bedroom, one bath home on Moore Street that has definitely seen better days. The asking price? A whopping $349,000.

Tomasz Muszynski and Bart Piniaz of the 904 team are the listing agents for the house and say the price is based on the hot real estate market at the moment.

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“We’ve put a number there, we think the number is achievable and we’ll sit back and wait for the kind of offers we end up getting on the property,” Piniaz said.

And anyone who thinks they can just tear down the house and build a new one might want to think again.

According to the St. Augustine Record, the early 1900s home is actually “one of the oldest surviving black school buildings in St. Augustine,” which means any homeowner would need to get permission from the City Council. examination of the historic architecture of the city to demolish it.

Another ramshackle, overgrown 656-square-foot home, also in Lincolnville, is listed by another agency for an incredible $299,000.

Home located at 112 Carrie Johnson Way in Lincolnville for $299,000. (Copyright 2022 by WJXT News4Jax – All rights reserved.)

“When a neighborhood is built, the last two houses are always the most expensive. That’s what we see here in Lincolnville, you know, there’s very little vacant land, if there is, prices tend to follow,” Piniaz said.

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Northeast Florida Association of Realtors president Mark Rosener said he was surprised by some of the listing prices he saw in St. Augustine, but he said he could still see new ones. owners make money with the property.

“There are a number of things the landlord can do with their property, not the least of which is Airbnb, and short-term rentals, which could be, you know, very lucrative. The value of this property is obviously in the ownership and the location, not necessarily in the structure,” Rosener said.

There’s a chance that both homes will be close to the asking price in St. Johns County, one of the fastest growing counties in the state.

Data from the Northeast Florida Association of Realtors shows that St. Johns County sellers exceed asking price 32% of the time and the average days on market is only 16.

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And buyers come from everywhere.

“Lots of out-of-state cash buyers, mostly New York, New Jersey, California,” Muszynski said.

Rosener said high prices are a classic example of supply and demand.

“It’s a difficult environment for a buyer to be able to find the house that meets their needs. And sellers are worried, if I sell this, what can I buy? So all of these concerns are kind of fueling this lack of inventory, this high demand,” Rosener said.

Rosener added that there are signs the housing market is stabilizing in St. Johns County and the rest of northeast Florida.

How far to that house on Moore Street? Muszynski and Piniaz said they are generating a lot of interest and expect to receive an offer soon.

Copyright 2022 by WJXT News4Jax – All Rights Reserved.

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