166 MARTIN LUTHER KING AVENUE Priced Below Appraised Value | Lincolnville's Best Value Per Square Foot For the investor, the short-term rental operator, or the buyer who knows how to recognize an opportunity — 166 Martin Luther King Avenue is the one to watch right now. Located in the heart of Historic Lincolnville, one of St. Augustine's most consistently visited and sought-after neighborhoods, this 1930 Craftsman-style residence sits in prime short-term rental territory. Lincolnville draws visitors year-round to the nation's oldest city — walkable to downtown restaurants, bayfront parks, Flagler College, historic landmarks, and trolley access — making it one of the most desirable short-term rental districts in Northeast Florida. Buyer to verify current local short-term rental regulations. At $290 per square foot, this is the lowest price per square foot of any active 3-bedroom home in Lincolnville today — and it's listed below its appraised value, giving the right buyer immediate built-in equity from day one. The home offers 1, 708 square feet of living space across three generously sized bedrooms and two full bathrooms, including a primary ensuite — an uncommon feature for a home of this era and a meaningful asset for short-term rental guests and owner-occupants alike. The open floor plan connects the main living areas to a spacious kitchen with pantry, and a separate laundry room adds everyday practicality. A covered front porch, rear deck, fenced front and backyard, and mature shade trees create outdoor living space that enhances both personal enjoyment and guest appeal. Key structural updates include a 2019 metal roof and 2021 windows — the big-ticket items are already handled. At this price point, in this location, the upside potential is built in from day one. No HOA. No CDD. Full flexibility to use, rent, or invest on your own terms. This is the entry point into Lincolnville that serious buyers have been waiting for — priced below appraised value, in a location that continues to attract visitors and residents alike, with more square footage than anything comparable on the market today.