1405 82nd Ave · West Vero Corridor, FL 32966

$38,500

2 bd · 2.0 ba · 9,050 sqft · Other public records · 38 Days on market

Built 1984

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

$1.350.00 per monh Land leased property in a 55 & amp; over community of Vero Palm in Vero Beach. New flooring, roof, a/c, paint, fixtures & amp; more. Comes furnished on a lovely lake view lot. Very relaxing setting. Come take a look for youself.

Key facts

• New flooring
• New paint
• New a/c

Tags

• LAND LEASED PROPERTY
• NEW FLOORING
• NEW ROOF
• NEW A/C
• NEW PAINT
• NEW FIXTURES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $38k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.
• Cap rate 43.7% vs local median 4.0% in West Vero Corridor — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#273 in FL, #4,421 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: schools F, amenities F, health & safety D-.
• Indian River (other): math 48% / reading 52% proficiency, ranked #35 of 73 in FL (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 380 active listings in the ZIP; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $266 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Indian River County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $26k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,345 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.82% ✓
• Cap rate: 43.73%
• Cash-on-cash: 133.72%
• DSCR: 6.95
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.11×
• Total profit: $65,917
• Equity at exit: $5,740

10-year hold

• IRR: —
• Equity multiple: 13.88×
• Total profit: $138,900
• Equity at exit: $3,329

Cash invested: $10,780 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32966

• Home prices YoY: -26.7%
• Rents YoY: 0.6%
• Active inventory: 380
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,857 medium
• Mortgage (P&I): −$202
• Tax est. 1.5%: −$48 /mo · $578/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $1,201

Break-even live

Break-even rent $337

Max offer price $38,500

Occupancy floor 30%

Sensitivity live

Price	-10% $1,228	-5% $1,215	+0% $1,201	+5% $1,188	+10% $1,175
Rent	-10% $1,055	-5% $1,128	+0% $1,201	+5% $1,275	+10% $1,348
Rate	-1.0pp $1,221	-0.5pp $1,211	base $1,201	+0.5pp $1,191	+1.0pp $1,181

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,625
• Closing costs: $1,155
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $38,500 Active 38 DOM
2. 2026-06-18
   days on market $38,500 Active 37 DOM
3. 2026-06-17
   days on market $38,500 Active 36 DOM
4. 2026-06-16
   pricedays on market $38,500 Active 35 DOM
5. 2026-06-15
   days on market $65,000 Active 34 DOM
6. 2026-06-14
   days on market $65,000 Active 32 DOM
7. 2026-06-13
   days on market $65,000 Active 31 DOM
8. 2026-06-10
   days on market $65,000 Active 29 DOM
9. 2026-06-09
   days on market $65,000 Active 28 DOM
10. 2026-06-08
    days on market $65,000 Active 27 DOM
11. 2026-06-07
    days on market $65,000 Active 26 DOM
12. 2026-06-05
    days on market $65,000 Active 23 DOM
13. 2026-06-02
    days on market $65,000 Active 21 DOM
14. 2026-06-01
    days on market $65,000 Active 20 DOM
15. 2026-05-31
    days on market $65,000 Active 19 DOM
16. 2026-05-30
    days on market $65,000 Active 18 DOM
17. 2026-05-12
    listed $65,000 Active
18. 2022-12-06
    historical
19. 2022-09-27
    listed $99,000 Active
20. 2011-09-13
    soldstatus $92,820
21. 2006-12-07
    soldstatus $7,579,500
22. 1999-02-01
    soldstatus $9,150,000
23. 1997-06-27
    soldstatus $5,705,000
24. 1997-06-27
    soldstatus $5,705,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,288
• − Mortgage interest: −$2,157
• − Property taxes: −$578
• − Insurance: −$192
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$1,120
• Taxable income: $14,676
• Est. tax owed @ 24.0%: −$3,522
• After-tax cash flow: $10,893/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Indian River
• NCES district ID: 1200930
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $46,597
• Composite: 42.45/100
• National rank: #3218
• State rank: #35 of 73 in FL

Livability — West Vero Corridor

• Score: 74/100
• State rank: #273
• US rank: #4421

Category grades

Amenities F Commute A Cost of living A+ Crime C+ Employment C Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Vero Corridor, FL
• County: Indian River County · 143,738 people
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 20,686
• Household income: $66,771
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 766.0

Population outlook (Indian River County) Hauer SSP2

• Today (2025): 165,104 people
• By 2030: 172,869 · +4.7%
• By 2040: 185,640 · +12.4%
• By 2050: 194,465 · +17.8%
• By 2075: 211,115 · +27.9%
• By 2100: 211,781 · +28.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 5%
• Hispanic origin (detail): Puerto Rican 4% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 7% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Indian River

• 2024 margin: Strong R (+27.4) · D 36.0% · R 63.4%
• 2008→2024 swing: -12.5pp toward R · 2008: -14.8pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+21.6 2016: R+24.5 2012: R+22.3 2008: R+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.01%
• Current HPI: 280.669
• Rent YoY: ▲ 0.60%
• Metro: Sebastian-Vero Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-98.9% since first listed

8 events — show timeline

• 2026-05-12 Listed $65,000 FSBO.com
• 2022-12-06 Listing Removed — Beaches MLS
• 2022-09-27 Listed $99,000 Beaches MLS
• 2011-09-13 Sold (Public Records) $92,820 Public Records
• 2006-12-07 Sold (Public Records) $7,579,500 Public Records
• 1999-02-01 Sold (Public Records) $9,150,000 Public Records
• 1997-06-27 Sold (Public Records) $5,705,000 Public Records
• 1997-06-27 Sold (Public Records) $5,705,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $195,898 · +34.2% YoY. Source: county tax records.