78 W Caribbean · Port St. Lucie, FL 34952

$95,000

3 bd · 2.0 ba · 1,640 sqft · Manufactured · 10 Days on market

Built 1979 191 ac lot Est $75k · 26% over $900/mo HOA · 43% of rent

---

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 +17.9/30.0
• 1% rule +10.0/10.0
• DSCR +5.6/10.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

ABSOLUTELY BEAUTIFUL CORNER LOT ACROSS FROM CLUB - ISLAND KITCHEN HUGE FLA ROOM CERAMIC TILE - SKYLIGHTS - THIS UNIT NEED NOTHING - HAS IT ALL EVEN A PATIO - MUST SEE!!!!

Key facts

• Plenty of storage
• Large florida room
• 190.53 acre lot

Tags

• REMODELED MANUFACTURED HOME
• LARGE FLORIDA ROOM
• PLENTY OF STORAGE
• SPANISH LAKES GOLF VILLAGE
• VIBRANT PORT ST LUCIE LOCATION

Property features AI

Finance

• Financial info: Land lease of $900 per month (lease expires 2027-06-30); Property is in a senior community; Pets not allowed
• HOA & community: Part of Spanish Lakes association; Monthly association fee of $900; Association amenities: basketball court, billiard room, fitness center, golf course, pool, shuffleboard court, spa/hot tub, tennis courts, workshop area, cafe/restaurant, community room, kitchen facilities, library, pickleball courts, recreation facilities

Exterior

• Parking: 3 total parking spaces; Attached carport (1 covered carport space); Driveway; 1 open parking space
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Water connected; Cable available; Underground utilities
• Home design: Manufactured home (double wide, modular); One story; West-facing
• Construction: Vinyl siding; Shingle roof; Modular double wide construction; Built as resale (existing home)
• Exterior features: Screened patio; Open porch; Patio; Porch; Not waterfront

Interior

• Kitchen: Dishwasher; Electric range / electric cooktop; Microwave; Refrigerator; Freezer; Electric water heater
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet; Laminate; Vinyl; Wood
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Built-in features; Kitchen island; Walk-in closets; Split bedroom layout; Satellite dish; Unfurnished
• Laundry & utility: Inside laundry room; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $95k.

Deal economics

• At list price, monthly cash flow is $80 ($955/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 7.3% vs local median 3.9% in Port St. Lucie — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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; 16 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 $657 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 2.18% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.59%
• DSCR: 1.16
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $75,440
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 W Carribean	0.36mi	2/2.0 (-1)	1,650 (+1%)	8mo	$9,500	$6	70
16 Nuevo Leon Rd	0.22mi	3/2.0	1,500 (-8%)	19mo	$69,000	$46	60
110 W Caribbean	0.18mi	2/2.0 (-1)	1,416 (-14%)	5mo	$77,500	$55	59
8522 Leadtree Ct	0.39mi	2/2.0 (-1)	1,550 (-6%)	15mo	$245,000	$158	55
8526 Lidflower Ct	0.39mi	3/2.5	1,404 (-14%)	6mo	$70,900	$50	51
7 Indies	0.15mi	2/2.0 (-1)	1,468 (-10%)	24mo	$33,000	$22	50
166 W West Caribbean	0.34mi	2/2.0 (-1)	1,450 (-12%)	14mo	$38,000	$26	48
192 W Caribbean	0.43mi	2/2.0 (-1)	1,416 (-14%)	6mo	$49,000	$35	47
29 San Marino Way	0.44mi	2/2.0 (-1)	1,468 (-10%)	20mo	$22,000	$15	40
8483 Labelia Ct	0.55mi	2/2.0 (-1)	1,456 (-11%)	15mo	$265,000	$182	38
188 W West Caribbean W	0.42mi	2/2.0 (-1)	1,400 (-15%)	17mo	$106,000	$76	37

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: -12.7%
• Equity multiple: 0.55×
• Total profit: $-11,969
• Equity at exit: $14,165

10-year hold

• IRR: -6.7%
• Equity multiple: 0.61×
• Total profit: $-10,464
• Equity at exit: $8,214

Cash invested: $26,600 (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: 3.8×

Monthly cashflow live

• Estimated rent: $2,071 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$900
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $80

Break-even live

Break-even rent $1,970

Max offer price $95,000

Occupancy floor 91%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
71 W Caribbean Port St. Lucie, FL	2.0	2.0	1417	$1,700	$1.20	23d	1	0.03mi
1811 SE Walton Lakes Dr Port Saint Lucie, FL	2.0	1.0–2.0	1117	$1,926	$1.72	14d	6	0.29mi
1810 SE Pinewood Trl Port Saint Lucie, FL	1.0–2.0	1.0–2.0	1013	$2,055	$2.03	14d	7	0.43mi
2082 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1524	$1,850	$1.21	23d	1	0.50mi
2058 SE Wild Meadow Cir #101 Port St Lucie, FL	2.0	2.5	1425	$2,200	$1.54	14d	1	0.52mi
2183 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1550	$1,900	$1.23	14d	1	0.60mi
2130 SE Wild Meadow Cir Port Saint Lucie, FL	2.0	2.0	1440	$1,695	$1.18	14d	1	0.61mi
3784 Sapodilla Ct Port Saint Lucie, FL	2.0	2.0	1121	$2,300	$2.05	23d	1	0.72mi
1900 Bella Vista Way Port Saint Lucie, FL	1.0–2.0	1.0–2.0	995	$1,764	$1.77	14d	15	0.77mi
2209 SE East Dunbrooke Cir Port Saint Lucie, FL	3.0	2.0	1212	$2,950	$2.43	14d	1	0.80mi
1500 SE Tiffany Club Pl Port Saint Lucie, FL	1.0–3.0	1.0–2.0	895	$2,139	$2.39	14d	7	0.92mi
1618 SE Elkhart Ter Port Saint Lucie, FL	3.0	2.0	1176	$2,200	$1.87	23d	1	1.10mi
2051 SE Hillmoor Dr Port Saint Lucie, FL	1.0–2.0	1.0–2.0	1014	$2,539	$2.50	23d	15	1.42mi
9905 S US Highway 1 Port Saint Lucie, FL	1.0–2.0	1.0–2.0	966	$2,239	$2.32	14d	15	1.43mi
1900 SE Hillmoor Dr Port Saint Lucie, FL	2.0–3.0	2.0–2.5	1182	$2,275	$1.92	14d	14	1.43mi
2061 SE Glen Ridge Dr Port Saint Lucie, FL	2.0	2.5	1350	$1,925	$1.43	23d	1	1.50mi

HOA detail

• Monthly dues: $900 · $10,800/yr

Listing history 9 events

1. 2026-06-18
   days on market $95,000 Active 10 DOM
2. 2026-06-17
   days on market $95,000 Active 9 DOM
3. 2026-06-16
   days on market $95,000 Active 8 DOM
4. 2026-06-15
   days on market $95,000 Active 7 DOM
5. 2026-06-14
   days on market $95,000 Active 5 DOM
6. 2026-06-13
   days on market $95,000 Active 4 DOM
7. 2026-06-10
   days on market $95,000 Active 2 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   listed $95,000 Active 1 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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: $24,852
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − HOA: −$10,800
• − Depreciation: −$2,764
• Taxable income: $90
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $933/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 — Port St. Lucie

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Port St. Lucie, FL
• 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

+46.2% since first listed

5 events — show timeline

• 2026-06-08 Listed $95,000 Beaches MLS
• 2021-03-26 Listing Removed — Beaches MLS
• 2021-03-05 Listed $54,900 Beaches MLS
• 2005-04-18 Listing Removed — Beaches MLS
• 2005-04-17 Listed $65,000 Beaches MLS