$1,675,000
16 Mulvey St , Saint Augustine, FL 32084
- 1890
- year built
- Status:
- Active
- MLS #:
- 263419
- Neighborhood:
- Model Land Co-Fl
- County:
- Saint Johns
- Listed By:
- Ian C Hyde - Century 21 St Augustine Properties
- Agent Phone:
- (520) 907-7876
- Agent Email:
- ianhydesellsflorida@gmail.com
Sponsoring Broker: Tracy Glochau, Berkshire Hathaway HomeServices Florida Network Realty
PRICE IMPROVEMENT **Historic Downtown St. Augustine Turnkey Investment Opportunity** Rare opportunity to own a premier income-producing property in the heart of Downtown St. Augustine's Historic Entertainment District. This beautifully maintained five-unit multifamily property is currently operating as a highly successful short-term rental with a proven track record, generating $313,000 in gross revenue in 2025. The property has outpaced most of the competition in revenue growth with last year representing a 22% increase over the past 4 years. The property consists of four spacious one-bedroom, one-bath apartments and one efficiency apartment, offering an ideal mix of accommodations for visitors seeking the charm and convenience of the Nation's Oldest City. Whether you're an experienced investor or looking to enter the thriving vacation rental market, this turnkey opportunity is ready to continue producing exceptional returns. Major capital improvements have already been completed, including a newer roof, updated electrical and plumbing systems, and a current termite bond, providing peace of mind for years to come. Situated on a rare double lot, the property features a beautifully landscaped backyard retreat that sets it apart from the competition. Guests can enjoy their morning coffee surrounded by mature landscaping and birdsong or unwind after a day exploring the city in this peaceful outdoor oasis. The location is simply unbeatable—just steps from St. Augustine's renowned restaurants, shops, galleries, live music, museums, and historic attractions, while only minutes from the area's beautiful beaches. This is the perfect combination of historic charm, walkability, and coastal living. This is more than a property—it's an opportunity to own a thriving hospitality business in one of Florida's most iconic and desirable destinations. **Attractive Financing Potential** The property's strong operating history may make it an outstanding candidate for a Debt Service Coverage Ratio (DSCR) loan, allowing qualified buyers to potentially qualify based primarily on the property's income rather than personal income. Based on the property's proven performance, a qualified buyer with strong credit, a 25% down payment, and an interest rate in the 7% range could potentially achieve a Debt Service Coverage Ratio exceeding 1.70 while realizing an estimated cash-on-cash return of more than 30%. Actual financing terms and investment returns will vary based on lender requirements, operating expenses, and borrower qualifications. For a personalized financing analysis and to learn more about available business-purpose loan products, contact our preferred lender Gary Field, who can provide customized loan scenarios and help you identify the financing solution best suited to your investment objectives. Gary Field 603-566-9346 gfield@newfed.com NMLS 2738702 NewFed Mortgage Corp. NMLS 1881
Highlights
- Residential Income
- Multi Family
- Built in 1890
- 107 days on Market
-
- Year Built
- 1890
-
- Furnished
- Furnished
-
- Cooling
- Central Air, Window Unit(s)
-
- Heating
- Electric, Central
-
- Water
- Public
-
- Area
- 04
-
- County
- Saint Johns
-
- City
- Saint Augustine
-
- Neighborhood
- Model Land Co-Fl
-
- Zip Code
- 32084
-
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Price History
| 09/21/2026 | Price Changed | $1,675,000 |
| Source: St Augustine and St Johns County BOR #263419 | ||
| 07/27/2026 | Listed | $1,740,000 |
| Source: St Augustine and St Johns County BOR #263419 | ||
| 05/12/2016 | Sold | $435,000 |
| Source: St Augustine and St Johns County BOR #157222 | ||
| 06/27/2015 | Listed | $425,000 |
| Source: St Augustine and St Johns County BOR #157222 | ||
| 06/15/2005 | Sold | $525,000 |
| Source: St Augustine and St Johns County BOR #74336 | ||
| 04/19/2005 | Listed | $540,000 |
| Source: St Augustine and St Johns County BOR #74336 | ||
Source: MLS Data
Deed History
| 05/26/2016 | Warranty Deed | $435,000 |
| 05/26/2016 | Warranty Deed | $0 |
| 07/17/2007 | Quit Claim Deed (non-arm's length) | $0 |
| 06/17/2005 | Warranty Deed | $525,000 |
| 08/21/2003 | Correction Release | $0 |
| 08/21/2003 | Warranty Deed | $350,000 |
| 04/07/2003 | Warranty Deed | $320,000 |
Source: Public records via Constellation Data Labs
Mortgage History
| 08/23/1970 | Credit Line (Revolving) / HELOC | $164,000 |
| 08/22/1970 | Commercial | $638,783 |
| 08/22/1970 | Open End with Future Advance Clause / Open End Mortgage | $326,000 |
| 08/22/1970 | Commercial | $150,000 |
| 08/20/1970 | Commercial | $52,500 |
| 08/20/1970 | Commercial | $251,000 |
| 08/20/1970 | Commercial | $262,500 |
Source: Public records via Constellation Data Labs
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There are currently 2457 properties available in Saint Augustine, with 187 under contract to close soon. Properties in the city have an average sale price of $584,122 and typically spend 116 days on the market before being sold.
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Source: ez Home Search, MLS Data
Frequently Asked Questions
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How do I get more information about 16 Mulvey St?
Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $1,675,000. We can talk through recent upgrades, potential seller motivation, how this multi family compares to others in Saint Augustine, and can even get you in to see the property quickly.
How much is the monthly mortgage payment for 16 Mulvey St?
With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 16 Mulvey St at around $10,511. This includes estimated property taxes and insurance.
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Or, let us connect you with our preferred local lender in Saint Johns County. They will give you all of your available financing options, based on your specific situation and what is available to you.
Can I negotiate the asking price for 16 Mulvey St?
In most cases, yes. Whether 16 Mulvey St is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Saint Augustine's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.
How do I make an offer on 16 Mulvey St?
We can handle that for you. Our preferred local agent specializes in residential incomes in Saint Augustine and can guide you through every step of the offer process.
You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.
How long has this property been on the market?
16 Mulvey St was listed on July 27, 2026, which means it's been on the market for 107 days.
Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.
When was this house built?
This home was built in 1890, making it approximately 136 years old.
What are the property taxes for 16 Mulvey St?
The most recent public record shows annual property taxes for 16 Mulvey St were approximately $11,751. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.
Is 16 Mulvey St still available for sale?
Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.
Source: ez Home Search, MLS Data
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Listing information provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Copyright 2026, St Augustine and St Johns County BOR. All rights reserved.
Last Updated: November 11, 2026 at 02:53AM | Source: St Augustine and St Johns County BOR | MLS#: 263419
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