The case for a specific property doesn’t start with the photography. It starts with the math. And on 497 Pescado Drive, the math is straightforward enough that I want to walk through it clearly.

The Property

497 Pescado Drive, St. Augustine, FL 32095. A single-story Riverside Homes build in Madeira at St. Augustine. MLS #2143054, listed by Hanna Moore, Broker · United Real Estate Gallery · License F65590 · MLS Agent ID 62794.

The home sits on a conservation lot, meaning the rear property line backs to protected wetland and marsh — a view that won’t be built on. In Madeira, conservation lot placement is one of the most durable premiums in the community.

$755K

List Price

2,491

Square Feet

4 / 3

Bed / Bath

The Value Proposition

New construction MasterCraft homes in Madeira on comparable lot sizes are currently asking $829,900 to $900,000+ — with 12–18 month build timelines. 497 Pescado Drive is move-in ready and priced at $755,000. That’s a day-one advantage of nearly $100,000.

The Riverside Homes build quality on this property is solid. The home features Bosch appliances, quartz countertops, whole-home audio, plantation shutters, a 3-car garage, and premium ceramic farmhouse plank flooring throughout. Not a production-grade spec home.

“In a market where new construction commands a premium for timing, a move-in-ready resale on a conservation lot at a meaningful discount is the kind of opportunity that closes quickly when buyers understand what they’re looking at.”

The Honest Trade-Offs

  • Madeira carries a CDD fee of $1,900–$3,200 annually depending on lot, paid through your property tax bill.
  • The HOA is $396/quarter and actively enforces community standards.
  • Riverside Homes is no longer building in Madeira — comparable Riverside resales are genuinely finite, which supports future resale value.

The Neighborhood Context

Madeira sits approximately 10 minutes from historic downtown St. Augustine, 30 minutes from Ponte Vedra Beach, and within the St. Johns County school district. For buyers relocating from out of state, the Madeira location offers something genuinely rare: proximity to one of the most distinctive small cities in the United States while living in a modern, gated, amenity-rich community.