3801 Spatterdock Ln · Indian River Estates, FL 34952

$99,900

2 bd · 2.0 ba · 1,469 sqft · Manufactured public records · 42 Days on market

Built 2001 6,253 sqft lot Est $165k · 39% under $310/mo HOA · 15% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This could be a great investment property. Rentals are in high demand and tenants are attracted to the community because of the amenities. Fully furnished home in great condition. Being sold turn key with dishes, linens, etc. Nicely maintained home with a roof that's only 4 years old. Two bedrooms, two baths plus a nice size den, open floor plan with a great kitchen & large living & dining area, nice screen porch & storage shed. Carport will accommodate two cars. Landscaping in beautiful condition with a sprinkler system in place. Within walking distance of pool & clubhouse. Amenities include 3 pools, shuffleboard, bocciball, tennis, fitness center, arts & crafts room, card room, restaurant, theater, golf (for a daily fee), indoor basketball, softball field, RV/boat storage, and much more! Three pets are allowed up to 35 pounds. Check out the rules & regulations, new owner package, etc. at www. savannaclubhoa.com.

Key facts

• 6,253 sq ft lot
• 3 parking spots
• Community pool

Property features AI

Finance

• Other: Senior community; Pets allowed with breed restrictions
• Financial info: Land lease in effect (monthly), lease continues through 2090; Monthly land lease amount
• HOA & community: Association: Sun Communities; Monthly association fee; Association fee covers cable TV, internet, common areas and recreation facilities; Community amenities include clubhouse, fitness center, pool (heated), spa/hot tub, golf course, tennis/basketball/pickleball/shuffleboard/bocce courts, cafe/restaurant, community room, library, parking, internet included

Exterior

• Parking: Attached carport with 3 covered spaces
• Utilities: Public water; Public sewer; Cable available; Electricity available; Water connected
• Home design: Manufactured home (double wide); Single-story; Resale property; Faces south; Entrance east of US-1
• Construction: Aluminum siding; Aluminum roof; Aluminum skirt; Double wide construction
• Exterior features: Asphalt road frontage; Private maintained road; Not waterfront

Interior

• Kitchen: Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms (one on main level)
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Refrigerator included; Laundry area inside
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 5.3% in Indian River Estates — 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 65/100 on livability (#653 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, schools F, amenities F.
• St. Lucie (urban): math 40% / reading 48% proficiency, ranked #51 of 73 in FL (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.9%/yr); 639 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• This rent runs 40% of the median local income ($62k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.05% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.25%
• DSCR: 1.99
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $164,528
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7928 Meadowlark Ln	0.13mi	2/3.0	1,475 (+0%)	1mo	$65,000	$44	88
3817 Sleepy Hollow Ln	0.31mi	2/2.0	1,390 (-5%)	4mo	$260,000	$187	73
7921 Meadowlark Ln	0.16mi	2/2.0	1,301 (-11%)	2mo	$115,000	$88	72
3720 Pebble Bch	0.33mi	3/2.0 (+1)	1,608 (+10%)	3mo	$225,000	$140	61
3005 Approach Shot Way	0.46mi	2/2.0	1,333 (-9%)	3mo	$149,900	$112	61
8394 Delphinium Ct	0.50mi	3/2.0 (+1)	1,392 (-5%)	4mo	$220,000	$158	60
7822 White Ibis Ln	0.52mi	3/2.0 (+1)	1,612 (+10%)	2mo	$115,000	$71	53
7953 Horned Lark Cir	0.59mi	2/2.0	1,286 (-12%)	1mo	$130,000	$101	51
8526 Lidflower Ct	0.75mi	3/2.5 (+1)	1,404 (-4%)	6mo	$70,900	$50	46
3033 Satinleaf Ln	0.57mi	2/2.0	1,248 (-15%)	4mo	$195,000	$156	45
2948 Fiddlewood Cir	0.71mi	2/2.0	1,280 (-13%)	1mo	$122,000	$95	44
8504 Gallberry Cir	0.72mi	2/2.0	1,264 (-14%)	4mo	$178,000	$141	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.92% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.38×
• Total profit: $10,727
• Equity at exit: $14,895

10-year hold

• IRR: 17.9%
• Equity multiple: 2.39×
• Total profit: $38,884
• Equity at exit: $8,638

Cash invested: $27,972 (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 34952

• Home prices YoY: -29.6%
• Rents YoY: 1.9%
• Active inventory: 639
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$524
• Tax from tax record: −$226 /mo · $2,716/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$310
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $452

Break-even live

Break-even rent $1,479

Max offer price $99,900

Occupancy floor 73%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3784 Sapodilla Ct Port Saint Lucie, FL	2.0	2.0	1121	$2,300	$2.05	23d	1	0.57mi
1131 SE Parrish Ct Port Saint Lucie, FL	2.0	1.0	902	$2,000	$2.22	23d	1	1.16mi
2209 SE East Dunbrooke Cir Port Saint Lucie, FL	3.0	2.0	1212	$2,950	$2.43	14d	1	1.19mi
71 W Caribbean Port St. Lucie, FL	2.0	2.0	1417	$1,700	$1.20	23d	1	1.19mi
1900 Bella Vista Way Port Saint Lucie, FL	1.0–2.0	1.0–2.0	995	$1,764	$1.77	14d	15	1.25mi
2183 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1550	$1,900	$1.23	14d	1	1.29mi
2130 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1440	$1,695	$1.18	14d	1	1.33mi
2058 SE Wild Meadow Cir #101 Port St Lucie, FL	2.0	2.5	1425	$2,200	$1.54	14d	1	1.34mi
2082 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1524	$1,850	$1.21	23d	1	1.36mi
1811 SE Walton Lakes Dr Port Saint Lucie, FL	2.0	1.0–2.0	1117	$1,926	$1.72	14d	6	1.42mi

HOA detail

• Monthly dues: $310 · $3,720/yr
• Likely covers: landscapingpoolgym

Listing history 37 events

1. 2026-06-18
   days on market $99,900 Active 42 DOM
2. 2026-06-17
   days on market $99,900 Active 41 DOM
3. 2026-06-16
   days on market $99,900 Active 40 DOM
4. 2026-06-15
   days on market $99,900 Active 39 DOM
5. 2026-06-14
   days on market $99,900 Active 37 DOM
6. 2026-06-13
   days on market $99,900 Active 36 DOM
7. 2026-06-10
   days on market $99,900 Active 34 DOM
8. 2026-06-09
   days on market $99,900 Active 33 DOM
9. 2026-06-08
   days on market $99,900 Active 32 DOM
10. 2026-06-07
    days on market $99,900 Active 31 DOM
11. 2026-06-05
    days on market $99,900 Active 28 DOM
12. 2026-06-03
    days on market $99,900 Active 27 DOM
13. 2026-06-02
    days on market $99,900 Active 26 DOM
14. 2026-06-01
    days on market $99,900 Active 25 DOM
15. 2026-05-31
    days on market $99,900 Active 24 DOM
16. 2026-05-30
    days on market $99,900 Active 23 DOM
17. 2026-05-07
    listed $99,900 Active
18. 2021-08-02
    status Pending
19. 2021-08-02
    historical
20. 2021-07-13
    status Active
21. 2021-07-02
    historical
22. 2021-06-04
    price $94,900
23. 2021-06-03
    listed $90,990 Active
24. 2021-03-15
    soldstatus $80,000 Closed 964-char remark

    Show marketing remark (964 chars)

    This could be a great investment property. Rentals are in high demand and tenants are attracted to the community because of the amenities. Fully furnished home in great condition. Being sold turn key with dishes, linens, etc. Nicely maintained home with a roof that's only 4 years old. Two bedrooms, two baths plus a nice size den, open floor plan with a great kitchen & large living & dining area, nice screen porch & storage shed. Carport will accommodate two cars. Landscaping in beautiful condition with a sprinkler system in place. Within walking distance of pool & clubhouse. Amenities include 3 pools, shuffleboard, bocciball, tennis, fitness center, arts & crafts room, card room, restaurant, theater, golf (for a daily fee), indoor basketball, softball field, RV/boat storage, and much more! Three pets are allowed up to 35 pounds. Check out the rules & regulations, new owner package, etc. at www. savannaclubhoa.com.

25. 2021-02-19
    status Pending 964-char remark

    Show marketing remark (964 chars)

    This could be a great investment property. Rentals are in high demand and tenants are attracted to the community because of the amenities. Fully furnished home in great condition. Being sold turn key with dishes, linens, etc. Nicely maintained home with a roof that's only 4 years old. Two bedrooms, two baths plus a nice size den, open floor plan with a great kitchen & large living & dining area, nice screen porch & storage shed. Carport will accommodate two cars. Landscaping in beautiful condition with a sprinkler system in place. Within walking distance of pool & clubhouse. Amenities include 3 pools, shuffleboard, bocciball, tennis, fitness center, arts & crafts room, card room, restaurant, theater, golf (for a daily fee), indoor basketball, softball field, RV/boat storage, and much more! Three pets are allowed up to 35 pounds. Check out the rules & regulations, new owner package, etc. at www. savannaclubhoa.com.

26. 2020-05-23
    price $89,900 964-char remark

    Show marketing remark (964 chars)

    This could be a great investment property. Rentals are in high demand and tenants are attracted to the community because of the amenities. Fully furnished home in great condition. Being sold turn key with dishes, linens, etc. Nicely maintained home with a roof that's only 4 years old. Two bedrooms, two baths plus a nice size den, open floor plan with a great kitchen & large living & dining area, nice screen porch & storage shed. Carport will accommodate two cars. Landscaping in beautiful condition with a sprinkler system in place. Within walking distance of pool & clubhouse. Amenities include 3 pools, shuffleboard, bocciball, tennis, fitness center, arts & crafts room, card room, restaurant, theater, golf (for a daily fee), indoor basketball, softball field, RV/boat storage, and much more! Three pets are allowed up to 35 pounds. Check out the rules & regulations, new owner package, etc. at www. savannaclubhoa.com.

27. 2020-01-25
    listed $99,000 Active 964-char remark

    Show marketing remark (964 chars)

    This could be a great investment property. Rentals are in high demand and tenants are attracted to the community because of the amenities. Fully furnished home in great condition. Being sold turn key with dishes, linens, etc. Nicely maintained home with a roof that's only 4 years old. Two bedrooms, two baths plus a nice size den, open floor plan with a great kitchen & large living & dining area, nice screen porch & storage shed. Carport will accommodate two cars. Landscaping in beautiful condition with a sprinkler system in place. Within walking distance of pool & clubhouse. Amenities include 3 pools, shuffleboard, bocciball, tennis, fitness center, arts & crafts room, card room, restaurant, theater, golf (for a daily fee), indoor basketball, softball field, RV/boat storage, and much more! Three pets are allowed up to 35 pounds. Check out the rules & regulations, new owner package, etc. at www. savannaclubhoa.com.

28. 2020-01-22
    historical
29. 2019-09-21
    price $99,000
30. 2019-08-06
    price $104,000
31. 2019-07-22
    listed $109,900 Active
32. 2016-06-26
    historical
33. 2005-02-11
    soldstatus $100,000
34. 2005-01-24
    historical
35. 2004-07-28
    listed $139,900
36. 2004-07-28
    listed $105,000
37. 2003-12-08
    soldstatus $8,500,000

ⓘ 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: $2,716 · $226/mo
• Projected year-2 tax: $2,716 · $226/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,614
• − Mortgage interest: −$5,596
• − Property taxes: −$2,716
• − Insurance: −$1,297
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − HOA: −$3,720
• − Depreciation: −$2,906
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,360/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: St. Lucie
• NCES district ID: 1201770
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $44,737
• Composite: 37.28/100
• National rank: #4449
• State rank: #51 of 73 in FL

Livability — Indian River Estates

• Score: 65/100
• State rank: #653
• US rank: #12946

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saint Lucie County · 337,150 people
• City population: 221,051
• Metro: Port St. Lucie, FL
• Population (ZIP): 42,655
• Household income: $61,628
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 1759.0

Population outlook (St. Lucie County) Hauer SSP2

• Today (2025): 338,016 people
• By 2030: 355,687 · +5.2%
• By 2040: 385,521 · +14.1%
• By 2050: 406,106 · +20.1%
• By 2075: 441,054 · +30.5%
• By 2100: 436,885 · +29.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 19% Two or more races 14% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 4% Cuban 2% Dominican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Hispanic 1%
• Foreign-born: 18% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 16% French/Haitian/Cajun 3% Tagalog/Filipino 2%

Political lean MEDSL · St. Lucie

• 2024 margin: Lean R (+9.1) · D 45.1% · R 54.2%
• 2008→2024 swing: -21.2pp toward R · 2008: 12.1pp · 2024: -9.1pp
• All cycles: 2024: R+9.1 2020: R+1.6 2016: R+2.5 2012: D+7.9 2008: D+12.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.80%
• Current HPI: 371.0573
• Rent YoY: ▲ 1.92%
• Metro: Port St. Lucie, 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

-98.8% since first listed

21 events — show timeline

• 2026-05-07 Listed $99,900 Beaches MLS
• 2021-08-02 Pending — Beaches MLS
• 2021-08-02 Listing Removed — Beaches MLS
• 2021-07-13 Relisted — Beaches MLS
• 2021-07-02 Listing Removed — Beaches MLS
• 2021-06-04 Price Changed $94,900 Beaches MLS
• 2021-06-03 Listed $90,990 Beaches MLS
• 2021-03-15 Sold (MLS) $80,000 MCRTC
• 2021-02-19 Pending — MCRTC
• 2020-05-23 Price Changed $89,900 MCRTC
• 2020-01-25 Listed $99,000 MCRTC
• 2020-01-22 Listing Removed — MCRTC
• 2019-09-21 Price Changed $99,000 MCRTC
• 2019-08-06 Price Changed $104,000 MCRTC
• 2019-07-22 Listed $109,900 MCRTC
• 2016-06-26 Listing Removed — MCRTC
• 2005-02-11 Sold (MLS) $100,000 Beaches MLS
• 2005-01-24 Listing Removed — Beaches MLS
• 2004-07-28 Listed $105,000 Beaches MLS
• 2004-07-28 Listed $139,900 MCRTC
• 2003-12-08 Sold (Public Records) $8,500,000 Public Records

Property tax history

+10.6%/yr

Latest (2022): $2,716 · +18.0% YoY. Source: county tax records.