Plenty of nice areas to walk around there. The street I live on runs directly into the St. Aug's campus, and we walk around the area all the time. Try Historic Oakwood...street after street of beautiful old houses. Oakwood Avenue runs along the southern edge of the campus, State street is the border to the west. Either walk south down State and turn right on Oakwood or walk west along Oakwood (depending on where you are on campus). You'll walk past the cemetery (which is beautiful) until you hit Historic Oakwood. You could definitely spend an hour walking around there. Take a map...you can head up to the intersection of Person & Peace for a snack at Krispy Kreme (which you'll walk off by the time you get back to St. Aug's). The Governor's Mansion is also close by (between Person St. & Blount St., near where Oakwood hits Person. Here's a link to a map of the area with what'd I do as a nice little 3 mile walk--St. Aug's to the Gov's mansion to Krispy Kreme to St. Aug's--you should definitely venture off the side streets in Historic Oakwood though, the gardener's have been out in full force and it's looking great over there. If you like dogs, you could also head north on State and turn left on Tyler. Oakwood Park has a great off-leash dog park, and there will tons of pups running around on a nice day like today.
Nice walk.