102 Royal Oak Dr #203 · Florida Ridge, FL 32962

$94,000

1 bd · 2.0 ba · 750 sqft · Condo public records · 298 Days on market

Built 1980 $496/mo HOA · 33% of rent

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Why this score? — see what drove the C- 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 +18.0/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Retirement just got an upgrade! Enjoy carefree living in this newly refreshed condo w/ new vinyl flooring, new vanities & toilets, new light fixtures, & a fresh coat of paint. The kitchen has a new range & every room is equipped w/ a USB port to keep you charged & connected. The FL room provides the perfect spot to relax w/ a good book. Enjoy an active lifestyle w/ multiple clubhouses, pools, & tennis, or play a round on the public golf course winding through the community. With a fantastic location near the Intracoastal, shopping, dining, & the beach, your golden years just got an upgrade!

Key facts

• Fresh coat of paint
• New toilets
• New range

Tags

• NEW VINYL FLOORING
• NEW VANITIES
• NEW TOILETS
• NEW LIGHT FIXTURES
• FRESH COAT OF PAINT
• NEW RANGE

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Association managed by Campbell Property Mgmt; Monthly association fee of $496; Association fee covers common areas, cable TV, insurance, grounds maintenance, structure maintenance, parking, sewer, trash and water; Community amenities: bicycle storage, clubhouse, shuffleboard, tennis courts, pool; Senior community

Exterior

• Parking: Assigned uncovered parking
• Security: Smoke detector(s)
• Utilities: Public water; County sewer
• Home design: Residential property with attached unit; Faces south; 2 stories
• Construction: Block, concrete and stucco construction; Built-up / tar and gravel roof
• Exterior features: Enclosed porch; Porch; Community pool (heated, electric heat)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Disposal; Electric water heater
• Bedrooms: One bedroom (13 x 16)
• Flooring: Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Sliding doors; Unfurnished
• Laundry & utility: Common area laundry room; Utility room (5 x 5)

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath condo listed at $94k.

Deal economics

• At list price, monthly cash flow is $14 ($167/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $83k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.5% in Florida Ridge — 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 72/100 on livability (#353 in FL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, employment D, amenities F.
• 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 rising fast (+4.2%/yr); 348 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $650 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 3y ago; this cycle's ask has dropped $23k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 33% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 298 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.62% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.54×
• Total profit: $-12,168
• Equity at exit: $14,016

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-350
• Equity at exit: $8,127

Cash invested: $26,320 (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 32962

• Rents YoY: 4.2%
• Active inventory: 348
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$493
• Tax from tax record: −$92 /mo · $1,103/yr
• Insurance: −$39
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$496
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $14

Break-even live

Break-even rent $1,502

Max offer price $94,000

Occupancy floor 94%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	21d	1	0.02mi
101 Spring Lake Dr #204 Vero Beach, FL	1.0	1.0	630	$1,275	$2.02	21d	1	0.07mi
103 Royal Oak Dr #106 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	13d	1	0.08mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	21d	1	0.18mi
80 Crooked Tree Ln #106 Vero Beach, FL	2.0	2.0	1000	$1,900	$1.90	13d	1	0.18mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.21mi
86 Crooked Tree Ln #102 Vero Beach, FL	2.0	2.0	1000	$2,000	$2.00	13d	1	0.23mi
15 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	13d	1	0.25mi
74 Royal Oak Ct #204 Vero Beach, FL	1.0	1.0	630	$1,175	$1.87	21d	1	0.25mi
65 Woodland Dr #207 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	21d	1	0.31mi
60 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,250	$1.98	13d	1	0.33mi
60 Woodland Dr Vero Beach, FL	1.0	1.0	630	$1,125	$1.79	21d	1	0.33mi
58 Woodland Dr #206 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	13d	1	0.37mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.38mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	13d	1	0.42mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	21d	1	0.42mi
52 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	21d	1	0.42mi
33 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,500	$2.38	13d	1	0.52mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	21d	1	0.52mi
36 Vista Gardens Trl #201 Vero Beach, FL	2.0	2.0	1000	$1,390	$1.39	21d	1	0.52mi
34 Vista Gardens Trl #107 Vero Beach, FL	2.0	2.0	1000	$1,350	$1.35	21d	1	0.52mi
35 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	934	$1,400	$1.50	21d	1	0.54mi
28 Vista Gardens Trl #102 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	1	0.56mi
4 Vista Gardens Trl #207 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	13d	1	0.56mi
11 Vista Gardens Trl #106 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	21d	1	0.56mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	13d	1	0.65mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	13d	1	0.65mi
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	2	0.66mi
528 7th Sq #102 Vero Beach, FL	2.0	2.0	1095	$3,000	$2.74	21d	1	0.68mi
441 7th Pl #441 Vero Beach, FL	1.0	1.0	550	$1,250	$2.27	21d	1	0.69mi
462 7th Pl Vero Beach, FL	1.0	1.0	550	$1,400	$2.55	21d	1	0.72mi
522 7th Pl Unit 522 Vero Beach, FL	1.0	1.0	550	$1,500	$2.73	21d	1	0.75mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	21d	1	0.82mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,500	$1.88	21d	2	0.86mi
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	21d	1	0.87mi
1135 3rd Ave #101 Vero Beach, FL	2.0	2.0	906	$1,800	$1.99	21d	1	1.15mi
1200 6th Dr Vero Beach, FL	2.0	2.0	800	$1,550	$1.94	13d	1	1.33mi

HOA detail condo

• Monthly dues: $496 · $5,952/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-19
   days on market $94,000 Active 298 DOM
2. 2026-06-18
   days on market $94,000 Active 297 DOM
3. 2026-06-17
   days on market $94,000 Active 296 DOM
4. 2026-06-16
   days on market $94,000 Active 295 DOM
5. 2026-06-15
   days on market $94,000 Active 294 DOM
6. 2026-06-14
   days on market $94,000 Active 292 DOM
7. 2026-06-13
   days on market $94,000 Active 291 DOM
8. 2026-06-10
   days on market $94,000 Active 289 DOM
9. 2026-06-09
   days on market $94,000 Active 288 DOM
10. 2026-06-08
    days on market $94,000 Active 287 DOM
11. 2026-06-07
    days on market $94,000 Active 286 DOM
12. 2026-06-05
    days on market $94,000 Active 283 DOM
13. 2026-06-02
    days on market $94,000 Active 281 DOM
14. 2026-06-01
    days on market $94,000 Active 280 DOM
15. 2026-05-31
    days on market $94,000 Active 279 DOM
16. 2026-05-30
    days on market $94,000 Active 278 DOM
17. 2026-03-09
    price $99,000
18. 2026-03-09
    price $99,000
19. 2026-03-09
    price $99,000
20. 2026-01-26
    price $112,500
21. 2026-01-26
    price $112,500
22. 2026-01-26
    price $112,500
23. 2025-11-13
    price $113,000
24. 2025-11-13
    price $113,000
25. 2025-11-13
    price $113,000
26. 2025-10-10
    price $115,500
27. 2025-10-10
    price $115,500
28. 2025-10-10
    price $115,500
29. 2025-08-26
    listed $117,000 Active
30. 2025-08-19
    listed $117,000 Active
31. 2025-05-30
    soldstatus $90,000
32. 2025-05-23
    soldstatus $90,000 Closed
33. 2025-05-10
    historical $1,500
34. 2025-04-29
    historical Active Under Contract
35. 2025-04-29
    status Active
36. 2025-04-16
    historical Active Under Contract
37. 2025-03-07
    historical Active Under Contract
38. 2025-02-27
    price $95,000
39. 2024-12-04
    listed $95,000 Active
40. 2024-12-04
    listed $99,900 Active
41. 2024-11-30
    historical
42. 2024-11-18
    listed $1,500
43. 2024-10-21
    listed $108,000
44. 2024-06-26
    price $108,000
45. 2024-03-28
    listed $108,000 Active
46. 2024-03-28
    listed $108,000 Active
47. 2024-03-28
    listed $112,000 Active
48. 2024-02-17
    price $115,000
49. 2023-09-28
    listed $119,000 Active
50. 2005-06-03
    soldstatus $85,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,103 · $92/mo
• Projected year-2 tax: $1,103 · $92/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 24 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: $18,234
• − Mortgage interest: −$5,265
• − Property taxes: −$1,103
• − Insurance: −$1,268
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − HOA: −$5,952
• − Depreciation: −$2,735
• Taxable loss: −$1,006
• Est. tax savings @ 24.0%: +$241
• After-tax cash flow: $408/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 — Florida Ridge

• Score: 72/100
• State rank: #353
• US rank: #6129

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florida Ridge, FL
• County: Indian River County · 143,738 people
• City population: 25,629
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 25,522
• Household income: $66,664
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 425.0

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 (70%)
• Race & ethnicity: White 70% Black 13% Hispanic / Latino 12% Two or more races 5% Native American 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 12% · Canada, Jamaica, Dominican Republic
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% 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: ▼ -182.13%
• Current HPI: 333.3274
• Rent YoY: ▲ 4.18%
• 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

+140.9% since first listed

36 events — show timeline

• 2026-03-09 Price Changed $99,000 Beaches MLS
• 2026-03-09 Price Changed $99,000 SCMLS
• 2026-03-09 Price Changed $99,000 RAIRCMLS
• 2026-01-26 Price Changed $112,500 Beaches MLS
• 2026-01-26 Price Changed $112,500 SCMLS
• 2026-01-26 Price Changed $112,500 RAIRCMLS
• 2025-11-13 Price Changed $113,000 Beaches MLS
• 2025-11-13 Price Changed $113,000 SCMLS
• 2025-11-13 Price Changed $113,000 RAIRCMLS
• 2025-10-10 Price Changed $115,500 Beaches MLS
• 2025-10-10 Price Changed $115,500 SCMLS
• 2025-10-10 Price Changed $115,500 RAIRCMLS
• 2025-08-26 Listed $117,000 SCMLS
• 2025-08-19 Listed $117,000 RAIRCMLS
• 2025-05-30 Sold (Public Records) $90,000 Public Records
• 2025-05-23 Sold (MLS) $90,000 RAIRCMLS
• 2025-05-10 Rental Removed $1,500 RAIRCMLS
• 2025-04-29 Contingent — RAIRCMLS
• 2025-04-29 Relisted — RAIRCMLS
• 2025-04-16 Contingent — RAIRCMLS
• 2025-03-07 Contingent — RAIRCMLS
• 2025-02-27 Price Changed $95,000 RAIRCMLS
• 2024-12-04 Listed $99,900 RAIRCMLS
• 2024-12-04 Listed $95,000 RAIRCMLS
• 2024-11-30 Listing Removed — Beaches MLS
• 2024-11-18 Listed for Rent $1,500 RAIRCMLS
• 2024-10-21 Listed $108,000 Beaches MLS
• 2024-06-26 Price Changed $108,000 RAIRCMLS
• 2024-03-28 Listed $112,000 RAIRCMLS
• 2024-03-28 Listed $108,000 RAIRCMLS
• 2024-03-28 Listed $108,000 RAIRCMLS
• 2024-02-17 Price Changed $115,000 RAIRCMLS
• 2023-09-28 Listed $119,000 RAIRCMLS
• 2005-06-03 Sold (Public Records) $85,000 Public Records
• 1992-02-01 Sold (Public Records) $35,000 Public Records
• 1980-04-01 Sold (Public Records) $41,100 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,103 · +5.6% YoY. Source: county tax records.