514 N 21st St · Fort Pierce, FL 34950

$135,000

2 bd · 2.0 ba · 1,017 sqft · MultiFamily public records · 5 Days on market

Built 1945 6,650 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor's Dream! This three-bedroom, one-bathroom single story home in the desirable Alamanda Vista subdivision of Fort Pierce, Florida offers 1,017 sq ft of finished living space and incredible potential. The property needs TLC and is ideal for cash buyers only. A tenant is currently in place and scheduled to vacate within the next couple of months, making this a great opportunity for renovation or future rental income.

Key facts

• 6,650 sq ft lot
• 2 parking spots
• Built 1945

Property features AI

Finance

• Other: Pets allowed with no restrictions

Exterior

• Parking: Driveway with two open parking spaces (total parking for 2)
• Security: No specific security features listed
• Utilities: Public water; Public sewer; Electricity available; Sewer connected; Water connected
• Home design: Single-family residence; One story; Entry level: 1; Faces west; City street frontage (west of US-1)
• Construction: Stucco and wood frame construction; Fiberglass roof; Slab foundation; Built/resale condition
• Exterior features: No waterfront; none of the waterfront features apply; Front door entry

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Three bedrooms on the main level
• Flooring: Tile flooring
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Has heating (type: Other); Ceiling fans; Wall/window AC units
• Interior features: Electric water heater; Laundry room; Other window features
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Cap rate 20.3% vs local median 3.7% in Fort Pierce — 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 76/100 on livability (#226 in FL, #3,360 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, 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 fast (+5.9%/yr); 165 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• At $3,125/mo this rent would consume 123% of the median local household income ($30k/yr) (locally 1995% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 + 5.9% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• 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 $135,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 2.31% ✓
• Cap rate: 20.26%
• Cash-on-cash: 49.87%
• DSCR: 3.22
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.94% rent growth · sell at horizon

5-year hold

• IRR: 50.8%
• Equity multiple: 3.32×
• Total profit: $87,709
• Equity at exit: $20,129

10-year hold

• IRR: 57.4%
• Equity multiple: 7.53×
• Total profit: $246,780
• Equity at exit: $11,672

Cash invested: $37,800 (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 34950

• Home prices YoY: -20.2%
• Rents YoY: 5.9%
• Active inventory: 165
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,125 high
• Mortgage (P&I): −$708
• Tax from tax record: −$134 /mo · $1,605/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $1,571

Break-even live

Break-even rent $1,137

Max offer price $135,000

Occupancy floor 45%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,124
Total (2 units)			$3,125

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 N 18th St Unit B Fort Pierce, FL	2.0	1.0	1352	$1,700	$1.26	23d	1	0.25mi
907 N 20th St Apt B Fort Pierce, FL	3.0	1.0	980	$1,800	$1.84	23d	1	0.27mi
1617 Avenue E Fort Pierce, FL	3.0	1.0	1100	$1,800	$1.64	23d	1	0.28mi
434 N 17th St Fort Pierce, FL	2.0	1.0	712	$1,500	$2.11	23d	1	0.31mi
1607 Avenue D Fort Pierce, FL	3.0	2.0	1029	$1,700	$1.65	13d	1	0.31mi
1604 Avenue E Fort Pierce, FL	2.0	1.0	713	$1,350	$1.89	13d	1	0.35mi
306 N 18th Ct #2 Fort Pierce, FL	3.0	2.0	1192	$2,150	$1.80	23d	1	0.37mi
205 N 22nd St Fort Pierce, FL	2.0	1.0	1050	$1,500	$1.43	23d	1	0.38mi
505 N 27th St Fort Pierce, FL	3.0	1.0	879	$2,660	$3.03	23d	1	0.40mi
2705 Avenue E Fort Pierce, FL	3.0	1.0	1161	$1,800	$1.55	23d	1	0.41mi
312 N 27th St Fort Pierce, FL	2.0	1.0	868	$1,600	$1.84	23d	1	0.45mi
1405 Avenue G Apt A Fort Pierce, FL	3.0	2.0	1064	$2,200	$2.07	23d	1	0.47mi
1308 N 21st St Apt A Fort Pierce, FL	2.0	1.0	1200	$1,499	$1.25	23d	1	0.52mi
2908 Dunbar St Fort Pierce, FL	2.0	1.0	942	$1,300	$1.38	21d	1	0.54mi
204 N 28th St Fort Pierce, FL	3.0	2.0	1000	$1,550	$1.55	23d	1	0.55mi
2804 Avenue J Fort Pierce, FL	3.0	1.0	816	$2,000	$2.45	13d	1	0.58mi
1408 N 23rd St Fort Pierce, FL	3.0	1.0	1110	$1,900	$1.71	13d	1	0.59mi
508 Means Ct Fort Pierce, FL	3.0	3.0	826	$1,950	$2.36	13d	1	0.60mi
508 Means Ct Unit A Fort Pierce, FL	1.0	1.0	826	$775	$0.94	23d	1	0.60mi
1127 E Avenue Unit A Fort Pierce, FL	2.0	1.0	784	$1,800	$2.30	21d	1	0.67mi
1601 N 17th St Fort Pierce, FL	2.0	1.0	996	$1,650	$1.66	23d	1	0.72mi
1310 Atlantic Ave Unit B Fort Pierce, FL	1.0	1.0	700	$1,620	$2.31	23d	1	0.72mi
1310 Atlantic Ave Unit B Fort Pierce, FL	1.0	1.0	700	$1,550	$2.21	13d	1	0.72mi
1225 Avenue K Fort Pierce, FL	3.0	1.0	837	$1,700	$2.03	23d	1	0.72mi
1610 N 25th St Unit 13 Fort Pierce, FL	2.0	1.0	740	$1,550	$2.09	23d	1	0.75mi
1610 N 25th St Unit 1 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	13d	1	0.75mi
1610 N 25th St Unit 10 Fort Pierce, FL	2.0	1.0	740	$1,600	$2.16	23d	1	0.75mi
1220 Avenue L Unit A Fort Pierce, FL	3.0	1.0	850	$1,700	$2.00	23d	1	0.76mi
1406 Citrus Ave Fort Pierce, FL	2.0	1.0	930	$1,600	$1.72	13d	1	0.78mi
1710 N 21st St Fort Pierce, FL	3.0	1.0	968	$2,100	$2.17	13d	1	0.79mi
815 Dundas Ct Unit B Fort Pierce, FL	2.0	1.0	1323	$1,400	$1.06	13d	1	0.84mi
513 N 9th St Unit B Fort Pierce, FL	3.0	2.0	1250	$2,300	$1.84	23d	1	0.86mi
701 N 9th St Unit B Fort Pierce, FL	2.0	2.0	740	$1,395	$1.89	23d	1	0.87mi
1002 Boston Ave Fort Pierce, FL	2.0	1.0	809	$2,000	$2.47	23d	1	0.97mi
127 S 10th St Fort Pierce, FL	2.0	1.0	809	$1,800	$2.22	23d	1	0.97mi
510 Texas Ct Fort Pierce, FL	2.0	1.0	750	$1,400	$1.87	23d	1	0.99mi
3002 Avenue Q Fort Pierce, FL	2.0	1.0	864	$1,900	$2.20	23d	1	1.00mi
1904 Havana Ave #16 Fort Pierce, FL	2.0	2.0	1196	$1,900	$1.59	13d	1	1.03mi
804 Orange Ave Unit B Fort Pierce, FL	2.0	1.0	700	$1,450	$2.07	23d	1	1.04mi
804 Orange Ave Unit B Fort Pierce, FL	2.0	1.0	700	$1,350	$1.93	13d	1	1.04mi

Listing history 6 events

1. 2026-06-18
   days on market $135,000 Active 5 DOM
2. 2026-06-17
   statusdays on market $135,000 Active 4 DOM
3. 2026-06-09
   status $135,000 Pending 3 DOM
4. 2026-06-08
   days on market $135,000 Active 3 DOM
5. 2026-06-07
   remarks 425-char remark
6. 2026-06-07
   listed $135,000 Active 2 DOM

ⓘ 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: $1,605 · $134/mo
• Projected year-2 tax: $1,605 · $134/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,500
• − Mortgage interest: −$7,562
• − Property taxes: −$1,605
• − Insurance: −$675
• − Repairs & maintenance: −$3,000
• − Management: −$3,000
• − Depreciation: −$3,927
• Taxable income: $17,730
• Est. tax owed @ 24.0%: −$4,255
• After-tax cash flow: $14,594/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 — Fort Pierce

• Score: 76/100
• State rank: #226
• US rank: #3360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Pierce, FL
• County: Saint Lucie County · 337,150 people
• City population: 78,556
• Metro: Port St. Lucie, FL
• Population (ZIP): 17,461
• Household income: $30,400
• Rent vs Own: 61.1% rent · 38.9% own
• Severe rent burden: 1995.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% Hispanic / Latino 19% White 17% Two or more races 10%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2% Cuban 1%
• Common ancestry: Hispanic 17% Portuguese 1%
• Foreign-born: 23% · Canada
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 12% Other Indo-European 4%

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: ▼ -97.20%
• Current HPI: 384.8532
• Rent YoY: ▲ 5.94%
• 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

1 event — show timeline

• 2026-06-02 Listed $135,000 Beaches MLS

Property tax history

+12.3%/yr

Latest (2025): $1,605 · +9.5% YoY. Source: county tax records.