61 Woodland Dr · Florida Ridge, FL 32962

$129,900

1 bd · 2.0 ba · 750 sqft · SingleFamily · 24 Days on market

Built 1978 Poor condition Est $117k · 11% over

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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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• ARV discount +2.5/15.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute, "Best Priced" 1/1.5 in Vista Royale sold turn key as you see it! A/C less than two years old.

Key facts

• Screened patio
• Fully renovated
• Assigned parking

Tags

• FULLY RENOVATED
• SCREENED PATIO
• HEATED POOL
• ASSIGNED PARKING
• LOW-MAINTENANCE LIFESTYLE

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $130k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $898 of loan paydown is wiped out by about $4k 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 24 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $130k implies a 271% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $127,951 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.70%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $117,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
58 Woodland Dr #105	0.05mi	1/1.5	750 (0%)	17mo	$85,000	$113	81
91 Crooked Tree Ln #205	0.22mi	1/1.5	750 (0%)	14mo	$110,000	$147	76
55 Woodland Dr #105	0.08mi	1/1.5	750 (0%)	22mo	$112,000	$149	76
97 Spring Lake Dr #105	0.26mi	1/1.5	750 (0%)	15mo	$103,000	$137	73
44 Woodland Dr #103	0.29mi	1/1.5	750 (0%)	14mo	$117,000	$156	73
111 Spring Lake Ct #105	0.32mi	1/1.5	750 (0%)	18mo	$141,000	$188	68
110 Spring Lake Ct #103	0.35mi	1/1.5	750 (0%)	17mo	$142,000	$189	67
98 Spring Lake Dr #203	0.27mi	1/1.5	747 (-0%)	22mo	$98,000	$131	66
106 Spring Lake Ct #105	0.31mi	1/1.5	750 (0%)	22mo	$107,000	$143	65
608 3rd Pl SW	0.57mi	2/1.0 (+1)	780 (+4%)	7mo	$210,000	$269	52
20 Vista Gardens Trl #103	0.67mi	1/1.5	750 (0%)	20mo	$136,000	$181	50
21 Vista Gardens Trl #203	0.70mi	1/1.5	747 (-0%)	20mo	$133,500	$179	48

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 · 4.18% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-4,676
• Equity at exit: $19,369

10-year hold

• IRR: 7.7%
• Equity multiple: 1.62×
• Total profit: $22,471
• Equity at exit: $11,231

Cash invested: $36,372 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,509 high
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $228

Break-even live

Break-even rent $1,220

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $317	-5% $273	+0% $228	+5% $183	+10% $138
Rent	-10% $108	-5% $168	+0% $228	+5% $287	+10% $347
Rate	-1.0pp $293	-0.5pp $261	base $228	+0.5pp $194	+1.0pp $160

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
60 Woodland Dr Vero Beach, FL	1.0	1.0	630	$1,125	$1.79	21d	1	0.02mi
60 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,250	$1.98	14d	1	0.03mi
58 Woodland Dr #206 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	14d	1	0.04mi
65 Woodland Dr #207 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	21d	1	0.12mi
86 Crooked Tree Ln #102 Vero Beach, FL	2.0	2.0	1000	$2,000	$2.00	14d	1	0.12mi
85 Crooked Tree Ln #203 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.15mi
80 Crooked Tree Ln #106 Vero Beach, FL	2.0	2.0	1000	$1,900	$1.90	14d	1	0.19mi
50 Woodland Dr #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	14d	1	0.23mi
52 Woodland Dr #204 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	21d	1	0.27mi
74 Royal Oak Ct #204 Vero Beach, FL	1.0	1.0	630	$1,175	$1.87	21d	1	0.28mi
103 Royal Oak Dr #106 Vero Beach, FL	2.0	2.0	1000	$1,800	$1.80	14d	1	0.28mi
101 Spring Lake Dr #204 Vero Beach, FL	1.0	1.0	630	$1,275	$2.02	21d	1	0.29mi
95 Spring Lake Dr #103 Vero Beach, FL	1.0	1.5	750	$1,600	$2.13	21d	1	0.29mi
5 Vista Palm Ln #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	14d	1	0.31mi
102 Royal Oak Dr #105 Vero Beach, FL	1.0	1.5	750	$1,550	$2.07	21d	1	0.32mi
37 Pine Arbor Ln #101 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	14d	1	0.34mi
36 Pine Arbor Ln Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	2	0.36mi
28 Pine Arbor Ln #103 Vero Beach, FL	1.0	1.5	750	$1,200	$1.60	21d	1	0.49mi
16 Vista Palm Ln Vero Beach, FL	1.0–2.0	1.5–2.0	800	$1,500	$1.88	21d	2	0.52mi
19 Pine Arbor Ln #105 Vero Beach, FL	1.0	1.5	750	$1,800	$2.40	21d	1	0.53mi
15 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,300	$2.06	14d	1	0.59mi
43 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	750	$1,450	$1.93	21d	1	0.71mi
23 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,500	$2.00	21d	1	0.76mi
26 Vista Gardens Trl #203 Vero Beach, FL	1.0	1.5	750	$1,350	$1.80	21d	1	0.85mi
36 Vista Gardens Trl #201 Vero Beach, FL	2.0	2.0	1000	$1,390	$1.39	21d	1	0.86mi
33 Vista Gardens Trl #104 Vero Beach, FL	1.0	1.0	630	$1,500	$2.38	14d	1	0.86mi
34 Vista Gardens Trl #107 Vero Beach, FL	2.0	2.0	1000	$1,350	$1.35	21d	1	0.87mi
35 Vista Gardens Trl #205 Vero Beach, FL	1.0	1.5	934	$1,400	$1.50	21d	1	0.88mi
28 Vista Gardens Trl #102 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	21d	1	0.90mi
4 Vista Gardens Trl #207 Vero Beach, FL	2.0	2.0	1000	$1,550	$1.55	14d	1	0.90mi
11 Vista Gardens Trl #106 Vero Beach, FL	2.0	2.0	1000	$1,600	$1.60	21d	1	0.90mi
528 7th Sq #102 Vero Beach, FL	2.0	2.0	1095	$3,000	$2.74	21d	1	1.00mi
441 7th Pl #441 Vero Beach, FL	1.0	1.0	550	$1,250	$2.27	21d	1	1.02mi
462 7th Pl Vero Beach, FL	1.0	1.0	550	$1,400	$2.55	21d	1	1.05mi
522 7th Pl Unit 522 Vero Beach, FL	1.0	1.0	550	$1,500	$2.73	21d	1	1.07mi
1135 3rd Ave #101 Vero Beach, FL	2.0	2.0	906	$1,800	$1.99	21d	1	1.49mi

Listing history 18 events

1. 2026-06-19
   days on market $129,900 Active 24 DOM
2. 2026-06-18
   days on market $129,900 Active 23 DOM
3. 2026-06-17
   days on market $129,900 Active 22 DOM
4. 2026-06-16
   days on market $129,900 Active 21 DOM
5. 2026-06-15
   days on market $129,900 Active 20 DOM
6. 2026-06-14
   days on market $129,900 Active 18 DOM
7. 2026-06-13
   days on market $129,900 Active 17 DOM
8. 2026-06-10
   days on market $129,900 Active 15 DOM
9. 2026-06-09
   days on market $129,900 Active 14 DOM
10. 2026-06-08
    days on market $129,900 Active 13 DOM
11. 2026-06-07
    days on market $129,900 Active 12 DOM
12. 2026-06-05
    days on market $129,900 Active 9 DOM
13. 2026-06-02
    days on market $129,900 Active 7 DOM
14. 2026-06-01
    days on market $129,900 Active 6 DOM
15. 2026-05-31
    days on market $129,900 Active 5 DOM
16. 2026-05-30
    days on market $129,900 Active 4 DOM
17. 2026-05-26
    listed $129,900 Active
18. 2015-04-10
    soldstatus $35,000 109-char remark

    Show marketing remark (109 chars)

    Cute, "Best Priced" 1/1.5 in Vista Royale sold turn key as you see it! A/C less than two years old.

ⓘ 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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,103
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$1,447
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$3,779
• Taxable income: $756
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $2,550/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a move-in ready condition. Significant improvements in exterior, interior, and HVAC systems would substantially increase its value.

Repairs flagged

• Major exterior siding — Severe weathering and peeling
• Major roof — Signs of significant wear
• Major flooring — Worn carpet in need of replacement
• Major interior walls — Painted walls with visible wear
• Major windows — Older windows with visible wear
• Major HVAC/mechanicals — No visible signs of recent maintenance

Value-add opportunities

• Both New exterior siding and roof — Significant increase in curb appeal and property value
• Both New flooring and interior paint — Enhances living space and appeal
• Both New HVAC system — Improves comfort and energy efficiency
• Both Landscaping and curb appeal improvements — Enhances property's overall appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Severe weathering and peeling	Major	$15,000–50,000
roof · Signs of significant wear	Major	$15,000–50,000
flooring · Worn carpet in need of replacement	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
windows · Older windows with visible wear	Major	$15,000–50,000
HVAC/mechanicals · No visible signs of recent maintenance	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both New exterior siding and roof — Significant increase in curb appeal and property value ↑
• Both New flooring and interior paint — Enhances living space and appeal ↑
• Both New HVAC system — Improves comfort and energy efficiency ↑
• Both Landscaping and curb appeal improvements — Enhances property's overall appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+271.1% since first listed

2 events — show timeline

• 2026-05-26 Listed $129,900 FSBO.com
• 2015-04-10 Sold (MLS) $35,000 RAIRCMLS