217 COVINO Avenue
About This Property
The home has been refreshed with a new roof, Hardie siding, HVAC system, updated plumbing, tile flooring, modern light fixtures, a new bathroom vanity, and a new side door. A detached one-car garage and plenty of driveway space provide excellent parking and storage. The large fenced backyard offers even more room to relax or entertain. With no HOA and zoning that allows nightly rentals, this property is also an outstanding investment opportunity. It is currently operating as a well-established and successful short-term rental with reservations already secured into 2026. Future bookings may be transferred to the new owner, offering the option to step right into a proven income-producing venture while enjoying all the benefits of this prime location.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 22, 2025 | Sold | ||
| Sold | |||
| Sep 22, 2025 | In contract | - | |
| In contract | |||
| Aug 27, 2025 | Listed by REDFIN CORPORATION | $269,900 | |
| Listed by REDFIN CORPORATION | |||
| Jul 11, 2025 | Listed | $279,900 | |
| Listed | |||
| | |||
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Cozy 2 bedroom 1 bath home located just 2 miles from downtown St Augustine and a few miles from Vilano Beach. This single family residence has off-street parking, a detached garage, and a fenced in backyard. The home has undergone many updates over the last few years that include a new roof, HVAC, tile flooring throughout, stainless steel appliances, Hardie siding, and much more! Would make a great starter home or continue as a short term rental. Zoned R3 which allows nightly rentals. Located in a quite part of town but just a few minutes to the historical district and beach!
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| Apr 16, 2020 | Sold | ||
| Sold | |||
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About St. Johns
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017