301 Preston Ct · Fort Pierce, FL 34950

$455,000

2 bd · 2.0 ba · 2,361 sqft · MultiFamily public records · 12 Days on market

Built 1955 0.32 ac lot

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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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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: 3 units. confirmed

Listing remarks

This 3-unit property is located in the heart of Fort Pierce and features long-term, established tenants, providing immediate and reliable rental income. Just minutes from beautiful beaches, popular restaurants, shopping, and local attractions, this property offers both convenience and strong investment potential. With three income-producing units, this is an excellent opportunity for investors seeking steady cash flow. Don't miss your chance to own a true money-making property in a highly desirable location.

Key facts

• Steady cash flow
• Popular restaurants
• 0.32 acre lot

Tags

• MINUTES FROM BEAUTIFUL BEACHES
• POPULAR RESTAURANTS
• STRONG INVESTMENT POTENTIAL
• THREE INCOME-PRODUCING UNITS
• STEADY CASH FLOW
• HIGHLY DESIRABLE LOCATION

Property features AI

Finance

• Financial info: Four total units; Gross income reported at $41,000; Net operating income reported at $29,000; Tenants pay common area maintenance, cable TV, electricity, sewer and water; Pets allowed with no restrictions; Three units in the community

Exterior

• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Sewer available; Water available; Two separate electric meters; Two separate gas meters; Two separate water meters
• Home design: Triplex; Single-story; Resale condition
• Construction: Concrete construction; Composition/shingle roof; Slab foundation; Building area approximately 2,911 (appraiser source); Living area approximately 2,361
• Exterior features: Corner lot; Paved public road access; No waterfront; Shed(s); Covered and open patios; Open porches; Masonry fencing

Interior

• Flooring: Terrazzo
• Heating & cooling: Wall furnace heating; Wall/window air conditioning units
• Interior features: Terrazzo flooring

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $455k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $395/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $455k).
• Cap rate 9.4% vs local median 3.5% 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+, amenities F, employment 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.
• Zoned schools: Manatee Academy K-8 (math 53% / reading 51%, grade C-, #990 of 2,144 statewide, top 48%, 1,664 students, 65% FRL); Southern Oaks Middle School (math 39% / reading 43%, grade F, #353 of 571 statewide, top 63%, 894 students, 76% FRL); Fort Pierce Central High School (math 15% / reading 45%, grade F, #441 of 667 statewide, top 67%, 3,091 students, 62% FRL).
• Market conditions: Rents rising fast (+5.9%/yr); 166 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $5,370/mo this rent would consume 212% 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 $3k of loan paydown is wiped out by about $14k 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 $127k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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; list at $455k implies a 469% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $455,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 1.18% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.15%
• DSCR: 1.50
• GRM: 7.1

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: 3.6%
• Equity multiple: 1.14×
• Total profit: $18,042
• Equity at exit: $67,842

10-year hold

• IRR: 15.7%
• Equity multiple: 2.45×
• Total profit: $184,181
• Equity at exit: $39,340

Cash invested: $127,400 (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: 166
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $5,370 high
• Mortgage (P&I): −$2,386
• Tax from tax record: −$483 /mo · $5,795/yr
• Insurance: −$190
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,128
• Net cashflow: $1,184

Break-even live

Break-even rent $3,872

Max offer price $455,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,441	-5% $1,312	+0% $1,184	+5% $1,055	+10% $926
Rent	-10% $759	-5% $972	+0% $1,184	+5% $1,396	+10% $1,608
Rate	-1.0pp $1,413	-0.5pp $1,299	base $1,184	+0.5pp $1,066	+1.0pp $946

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$5,370
Total (3 units)			$5,370

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: $113,750
• Closing costs: $13,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 S 8th St Fort Pierce, FL	2.0	2.0	1696	$1,900	$1.12	25d	1	0.33mi
1433 Captains Walk Unit A Fort Pierce, FL	2.0	2.0	1850	$2,500	$1.35	25d	1	0.73mi
1102 Avenue G Fort Pierce, FL	3.0	1.5	1870	$1,800	$0.96	25d	1	0.79mi
318 N 24th St Fort Pierce, FL	3.0	2.5	1952	$2,600	$1.33	25d	1	0.86mi
501 Wendell Rd Unit A Fort Pierce, FL	2.0	1.0	1920	$1,790	$0.93	25d	1	0.95mi

Listing history 9 events

1. 2026-06-21
   days on market $455,000 Active 12 DOM
2. 2026-06-18
   days on market $455,000 Active 9 DOM
3. 2026-06-17
   days on market $455,000 Active 8 DOM
4. 2026-06-16
   days on market $455,000 Active 7 DOM
5. 2026-06-15
   days on market $455,000 Active 6 DOM
6. 2026-06-14
   days on market $455,000 Active 4 DOM
7. 2026-06-13
   days on market $455,000 Active 3 DOM
8. 2026-06-10
   remarks 513-char remark
9. 2026-06-10
   listed $455,000 Active 1 DOM

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $5,795 · $483/mo
• Projected year-2 tax: $5,795 · $483/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 1/10 Low FEMA zone X (unshaded) · 0% 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,440
• − Mortgage interest: −$25,487
• − Property taxes: −$5,795
• − Insurance: −$2,275
• − Repairs & maintenance: −$5,155
• − Management: −$5,155
• − Depreciation: −$13,236
• Taxable income: $7,336
• Est. tax owed @ 24.0%: −$1,761
• After-tax cash flow: $12,444/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

+793.9% since first listed

9 events — show timeline

• 2026-06-09 Listed $455,000 Beaches MLS
• 2017-06-19 Sold (Public Records) $80,000 Public Records
• 2014-07-22 Sold (Public Records) $23,000 Public Records
• 2014-07-21 Sold (MLS) $23,000 Beaches MLS
• 2013-05-25 Listed $25,000 Beaches MLS
• 2006-10-05 Sold (Public Records) $160,000 Public Records
• 2005-06-13 Sold (Public Records) $120,000 Public Records
• 2003-06-23 Sold (Public Records) $10,000 Public Records
• 1987-11-01 Sold (Public Records) $50,900 Public Records

Property tax history

+19.0%/yr

Latest (2025): $5,795 · +10.7% YoY. Source: county tax records.