101 W Park Shores Cir Unit 2W · Indian River Shores, FL 32963

$359,900

2 bd · 2.0 ba · 1,640 sqft · Townhouse public records · 43 Days on market

Built 1981 Est $276k · 31% over $1030/mo HOA · 20% of rent

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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 +23.7/30.0
• 1% rule +9.5/10.0
• DSCR +7.6/10.0
• Rent growth +5.0/5.0
• Schools +4.2/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Stylish 2BR/2BA second-floor condo with garage in coveted Park Shores. Bright, airy living spaces open to a tranquil screened lanai overlooking lush grounds and the pool—ideal for morning coffee or sunset unwinding. Generous size bedrooms make it feel more like a house not a condo. New roof plus newer AC, water heater, and dishwasher. Walk or bike to the beach, boutiques, and dining. Pet-friendly ( 1 pet up to 25lb). Enjoy effortless coastal living with a touch of luxury. Offered turn key for easy living or rental potential. It embodies comfort, convenience, and coastal charm. Will rent.

Key facts

• Newer ac
• Water heater
• Dishwasher

Tags

• SCREENED LANAI
• LUSH GROUNDS
• NEW ROOF
• NEWER AC
• WATER HEATER
• DISHWASHER

Property features AI

Finance

• Financial info: Lease considered; Pets allowed with limits on number and size
• HOA & community: Association: Elliot Merrill; Monthly association fee of $1,030 (dues paid quarterly); Association covers common areas, insurance, structural maintenance, recreation facilities, reserve fund, sewer and water; Community pool

Exterior

• Parking: Garage (1 car)
• Utilities: Public water; County sewer
• Home design: 2-story property; North-facing; Has attached property
• Construction: Block and concrete construction; Shingle roof
• Exterior features: Balcony; Community heated pool (electric heat)

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal; Electric water heater
• Bedrooms: Bedroom (13 x 16); Bedroom (17 x 16)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: High ceilings; Single-hung windows with window treatments; Furnished
• Laundry & utility: Washer; Dryer; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $360k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).
• Recommended offer: $349k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 1.5% in Indian River Shores — 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 68/100 on livability (#517 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: schools C-, amenities F, commute 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 (+11.0%/yr); 498 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 564 units permitted in Indian River County in 2024 (281 in 5+ unit buildings).
• This rent runs 42% of the median local income ($150k/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 $2k of loan paydown is wiped out by about $11k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $101k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y ago; this cycle's ask is 12987% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $262k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 8→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $349,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.45% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.13%
• DSCR: 1.36
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $275,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 W Park Shores Cir Unit 22W	0.05mi	2/2.0	1,640 (0%)	3mo	$275,000	$168	96
125 E Park Shores Cir Unit 21E	0.15mi	2/2.0	1,640 (0%)	3mo	$550,000	$335	90
133 E Park Shores Cir Unit 6E	0.00mi	2/2.0	1,540 (-6%)	3mo	$245,000	$159	88
5601 A1a Hwy Unit 305S	0.36mi	2/2.0	1,637 (-0%)	3mo	$150,000	$92	80
5601 Highway A1a Unit 303N	0.40mi	2/2.0	1,637 (-0%)	2mo	$155,000	$95	79
5601 Highway A1a Rd Unit 102N	0.36mi	2/2.0	1,600 (-2%)	9mo	$194,000	$121	72
5601 Highway A1a Unit 203s	0.40mi	2/2.0	1,637 (-0%)	12mo	$175,000	$107	71
5601 Highway A1a Unit 209N	0.40mi	2/2.0	1,637 (-0%)	14mo	$158,000	$97	70
200 Sable Oak Ln #203	0.37mi	2/2.0	1,678 (+2%)	13mo	$670,000	$399	68
212 Park Shores Cir Unit 212B	0.22mi	2/2.0	1,456 (-11%)	6mo	$440,000	$302	66
220 Park Shores Cir Unit 220A	0.28mi	2/2.0	1,456 (-11%)	8mo	$350,000	$240	62
217 Park Shores Cir Unit 217B	0.23mi	2/2.0	1,456 (-11%)	13mo	$330,000	$227	60

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $9,188
• Equity at exit: $53,662

10-year hold

• IRR: 17.3%
• Equity multiple: 2.85×
• Total profit: $186,749
• Equity at exit: $31,118

Cash invested: $100,772 (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 32963

• Rents YoY: 11.0%
• Active inventory: 498
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $5,211 high
• Mortgage (P&I): −$1,887
• Tax from tax record: −$366 /mo · $4,394/yr
• Insurance: −$150
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,030
• Vacancy / Maint / Mgmt: −$1,094
• Net cashflow: $617

Break-even live

Break-even rent $4,430

Max offer price $359,900

Occupancy floor 83%

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 E Park Shores Cir Unit 2 Indian River Shores, FL	2.0	2.0	1640	$2,600	$1.59	13d	1	0.02mi
133 E Park Shores Cir Unit 7E Vero Beach, FL	2.0	2.0	1640	$3,000	$1.83	13d	1	0.05mi
133 E Park Shores Cir Unit 4E Vero Beach, FL	2.0	2.0	1540	$3,500	$2.27	13d	1	0.05mi
100 River Oak Ln Vero Beach, FL	3.0	3.0	2245	$13,000	$5.79	21d	1	0.19mi
219 Park Shores Cir Unit 219B Vero Beach, FL	2.0	2.5	1583	$3,000	$1.90	13d	1	0.25mi
5680 Highway A1A #111 Vero Beach, FL	3.0	3.0	2050	$6,000	$2.93	21d	1	0.28mi
5670 Jimmy Buffett Memorial Hwy Unit 315S Vero Beach, FL	2.0	3.5	2050	$7,000	$3.41	21d	1	0.28mi
5690 Jimmy Buffett Memorial Hwy Unit 102N Vero Beach, FL	1.0	3.5	1900	$4,500	$2.37	21d	1	0.30mi
5601 Jimmy Buffett Memorial Hwy Unit 304N Indian River Shores, FL	2.0	2.0	2115	$1,999	$0.95	21d	1	0.33mi
5554 Jimmy Buffett Memorial Hwy Unit 202 Indian River Shores, FL	2.0	2.5	1632	$12,000	$7.35	21d	1	0.49mi
5554 Jimmy Buffett Memorial Hwy Unit 201 Indian River Shores, FL	2.0	2.0	1632	$12,000	$7.35	21d	1	0.49mi
5536 Jimmy Buffett Memorial Hwy Unit 211 Vero Beach, FL	2.0	2.5	1632	$6,000	$3.68	21d	1	0.51mi
131 Peppertree Dr #21 Vero Beach, FL	2.0	2.0	1787	$3,300	$1.85	13d	1	0.53mi
5400 Jimmy Buffett Memorial Hwy Indian River Shores, FL	2.0	2.0	1200	$1,800	$1.50	21d	1	0.60mi
5300 Jimmy Buffett Memorial Hwy #301 Indian River Shores, FL	2.0	2.0	1300	$7,000	$5.38	21d	1	0.73mi
5300 Jimmy Buffett Memorial Hwy Unit 214 Indian River Shores, FL	2.0	2.0	1300	$5,500	$4.23	21d	1	0.74mi
5300 Jimmy Buffett Memorial Hwy Unit 314 Indian River Shores, FL	2.0	2.0	1300	$3,000	$2.31	21d	1	0.74mi
5300 Jimmy Buffett Memorial Hwy Unit 408 Indian River Shores, FL	2.0	2.0	1300	$9,000	$6.92	21d	1	0.74mi
5300 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1300	$6,000	$4.62	21d	1	0.74mi
5151 Jimmy Buffett Memorial Hwy Unit 512 Indian River Shores, FL	2.0	2.0	1339	$4,600	$3.44	21d	1	0.81mi
5151 Jimmy Buffett Memorial Hwy Unit 305 Indian River Shores, FL	2.0	2.0	1339	$2,300	$1.72	21d	1	0.81mi
5101 Highway A1A #109 Vero Beach, FL	3.0	2.0	1848	$5,500	$2.98	21d	1	0.90mi
5100 Jimmy Buffett Memorial Hwy Unit 58G INDN RIV SHRS, FL	2.0	2.0	1170	$6,000	$5.13	21d	1	1.10mi
4617 Pebble Bay S Vero Beach, FL	3.0	2.5	2240	$8,500	$3.79	21d	1	1.15mi
902 Tides Rd Vero Beach, FL	3.0	3.0	1810	$8,500	$4.70	13d	1	1.27mi
907 Tropic Dr Vero Beach, FL	3.0	2.0	1830	$10,000	$5.46	21d	1	1.37mi
5225 E Harbor Village Dr #303 Vero Beach, FL	3.0	2.0	1582	$13,000	$8.22	21d	1	1.38mi
5545 E Harbor Village Dr Vero Beach, FL	3.0	3.0	1967	$10,000	$5.08	21d	1	1.39mi
705 Bahia Mar Rd Vero Beach, FL	3.0	2.0	2214	$16,000	$7.23	13d	1	1.40mi
926 Tropic Dr Vero Beach, FL	1.0	1.0	2000	$2,000	$1.00	13d	1	1.43mi
5000 Highway A1A #320 Vero Beach, FL	2.0	2.0	1980	$5,000	$2.53	21d	1	1.47mi

HOA detail

• Monthly dues: $1,030 · $12,360/yr
• Likely covers: waterlandscapingpool

Listing history 38 events

1. 2026-06-19
   days on market $359,900 Active 43 DOM
2. 2026-06-18
   days on market $359,900 Active 42 DOM
3. 2026-06-17
   days on market $359,900 Active 41 DOM
4. 2026-06-16
   days on market $359,900 Active 40 DOM
5. 2026-06-15
   days on market $359,900 Active 39 DOM
6. 2026-06-14
   days on market $359,900 Active 37 DOM
7. 2026-06-13
   days on market $359,900 Active 36 DOM
8. 2026-06-10
   days on market $359,900 Active 34 DOM
9. 2026-06-09
   days on market $359,900 Active 33 DOM
10. 2026-06-08
    days on market $359,900 Active 32 DOM
11. 2026-06-07
    days on market $359,900 Active 31 DOM
12. 2026-06-05
    days on market $359,900 Active 28 DOM
13. 2026-06-02
    days on market $359,900 Active 26 DOM
14. 2026-06-01
    days on market $359,900 Active 25 DOM
15. 2026-05-31
    days on market $359,900 Active 24 DOM
16. 2026-05-30
    days on market $359,900 Active 23 DOM
17. 2026-05-08
    listed $2,750
18. 2026-05-07
    listed $359,900 Active
19. 2026-03-14
    historical $2,750
20. 2026-01-25
    listed $2,750
21. 2026-01-19
    historical
22. 2025-07-17
    listed $399,900 Active
23. 2025-07-17
    listed $399,900 Active
24. 2024-02-04
    historical $3,000
25. 2023-11-18
    listed $3,000
26. 2020-04-23
    soldstatus $262,500
27. 2020-04-17
    soldstatus $262,500 Sold
28. 2020-03-13
    historical Contingent
29. 2020-03-05
    listed $275,000 Active
30. 2020-02-28
    historical
31. 2020-01-31
    price $285,000
32. 2019-10-28
    price $307,000
33. 2019-10-15
    status Active
34. 2019-08-20
    historical
35. 2019-03-21
    listed $300,000 Active
36. 2005-08-29
    soldstatus $365,000
37. 2004-06-24
    soldstatus $237,000
38. 1997-06-27
    soldstatus $115,000

ⓘ 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: $4,394 · $366/mo
• Projected year-2 tax: $4,394 · $366/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 8/10 Severe FEMA zone X (unshaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 8 d/yr ≥105°F today · 26 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: $62,529
• − Mortgage interest: −$20,160
• − Property taxes: −$4,394
• − Insurance: −$2,597
• − Repairs & maintenance: −$5,002
• − Management: −$5,002
• − HOA: −$12,360
• − Depreciation: −$10,470
• Taxable income: $2,544
• Est. tax owed @ 24.0%: −$610
• After-tax cash flow: $6,788/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: 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 — Indian River Shores

• Score: 68/100
• State rank: #517
• US rank: #9512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River Shores, FL
• County: Indian River County · 143,738 people
• City population: 15,008
• Metro: Sebastian-Vero Beach, FL
• Population (ZIP): 15,008
• Household income: $149,923
• Rent vs Own: 4.9% rent · 95.1% own
• Severe rent burden: 119.0

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 5% Lithuanian 4% Italian 3%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -180.47%
• Current HPI: 312.0326
• Rent YoY: ▲ 11.04%
• 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

-97.6% since first listed

22 events — show timeline

• 2026-05-08 Listed for Rent $2,750 RAIRCMLS
• 2026-05-07 Listed $359,900 RAIRCMLS
• 2026-03-14 Rental Removed $2,750 RAIRCMLS
• 2026-01-25 Listed for Rent $2,750 RAIRCMLS
• 2026-01-19 Listing Removed — Beaches MLS
• 2025-07-17 Listed $399,900 RAIRCMLS
• 2025-07-17 Listed $399,900 Beaches MLS
• 2024-02-04 Rental Removed $3,000 GFLMLS
• 2023-11-18 Listed for Rent $3,000 GFLMLS
• 2020-04-23 Sold (Public Records) $262,500 Public Records
• 2020-04-17 Sold (MLS) $262,500 RAIRCMLS
• 2020-03-13 Contingent — RAIRCMLS
• 2020-03-05 Listed $275,000 RAIRCMLS
• 2020-02-28 Delisted — RAIRCMLS
• 2020-01-31 Price Changed $285,000 RAIRCMLS
• 2019-10-28 Price Changed $307,000 RAIRCMLS
• 2019-10-15 Relisted — RAIRCMLS
• 2019-08-20 Delisted — RAIRCMLS
• 2019-03-21 Listed $300,000 RAIRCMLS
• 2005-08-29 Sold (Public Records) $365,000 Public Records
• 2004-06-24 Sold (Public Records) $237,000 Public Records
• 1997-06-27 Sold (Public Records) $115,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $4,394 · +4.4% YoY. Source: county tax records.