238 RAINEY Avenue
About This Property
This 1920's gem exudes the charm and character of yesteryear, with original doors, hardware, elegant fireplace and hardwood pine floors. Entertain friends and family in the grand gourmet kitchen featuring additional dining area and a modern coffee and wine bar, leading out to the courtyard garden, with an ambience reminiscent of Old Florida. Updates include Thermador and Bosch appliances, a 54" refrigerator and freezer, six-burner professional range, quartz countertops, stacked cabinetry, custom tile, and a nine-foot island. A custom-designed coffee and wine bar with sink, wine cooler, and professional Rancilio espresso machine completes the space.
The home also features a dedicated office or sunroom, colorful custom stained-glass windows, updated bathrooms with designer fixtures, a luxurious primary bath with heated Toto bidet toilet and a custom California Closet, plus a guest bath with antique clawfoot tub.
Additional improvements include a newer roof, two HVAC units, upgraded plumbing and electrical, new motorized blinds, a water softener, irrigation system with deep artesian well, and professionally designed landscaping. The porches and driveway have all been updated, including a paver drive with ample parking.
The coveted Fullerwood neighborhood offers an eclectic mix of new and old homes, and its character is defined by a community playground, garden, and preservation of cultural resources. Conveniently located minutes from Vilano Beach and historic downtown, yet tucked away in a tranquil setting, 238 Rainey offers the perfect balance of history, modern comfort, and the vibrant lifestyle of Uptown St. Augustine. Nothing Compares.
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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%.
How much can I actually make?
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 |
|---|---|---|---|
| Mar 13, 2026 | Sold | ||
| Sold | |||
| Feb 28, 2026 | In contract | - | |
| In contract | |||
| Jan 20, 2026 | Price Decreased |
$849,000
↓ $50K
(5.6%) | |
| Price Decreased | |||
| Nov 28, 2025 | Price Decreased |
$899,000
↓ $21K
(2.3%) | |
| Price Decreased | |||
| Oct 6, 2025 | Listed by ONE SOTHEBY'S INTERNATIONAL REALTY | $920,000 | |
| Listed by ONE SOTHEBY'S INTERNATIONAL REALTY | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017