42 SE Spanish Way · Port St. Lucie, FL 34952

$29,999

2 bd · 1.5 ba · 970 sqft · Manufactured · 57 Days on market

Built 1972 Est $38k · 21% under

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

Listing remarks

Must see & priced to sell! Beautiful Water Views & Sunsets w/ this charming 2bed/1.5 bathroom. Roof & AC2024 & 2022 Flooring. Step inside & beauty continues w/ spacious kitchen, ample cabinetry, 2025 SS appliances. Complete set Storm shutters included! Master bed. boasts en-suite half bath; while spare bedroom is ideal for guests/home office. Relax & enjoy the views in the enclosed Florida room. A covered carport and storage shed adds extra convenience. Large sized offers space great for pets, gardening, grilling & more! PRIME LOCATION; near beach, grocery, postal, banks, hospital, pharmacy & more! Lot Lease 892.53 incl. trash, lawn, private f

Key facts

• Ample cabinetry
• Covered carport
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• AMPLE CABINETRY
• STORM SHUTTERS
• ENCLOSED FLORIDA ROOM
• COVERED CARPORT
• STORAGE SHED

Property features AI

Finance

• Other: Pets not allowed
• Financial info: Monthly land lease payment of 892.53; Land lease expires 2126-04-23
• HOA & community: Senior community; Land lease in place (monthly amount)

Exterior

• Parking: Attached carport; Covered parking; Driveway; 1 covered space; 1 open parking space (total 2 parking spaces)
• Security: Security patrol
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Manufactured home (double wide); Single-story; Faces south; Resale condition; Entry level: main
• Construction: Vinyl siding and other construction materials; 970 total living area
• Exterior features: Waterfront; Flat roof; Other roof type

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring; Other flooring types
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central electric heating; Central air (electric)
• Interior features: Stacked bedroom layout
• Laundry & utility: Outdoor laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 59.3% 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 C — 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; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 38% 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 $207 of loan paydown is wiped out by about $900 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 + 1.9% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $5k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,099 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 6.47% ✓
• Cap rate: 59.33%
• Cash-on-cash: 189.43%
• DSCR: 9.43
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $37,830
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 El Camino Real	0.11mi	2/2.0	984 (+1%)	1mo	$15,000	$15	90
46 Spanish Way	0.02mi	2/2.0	984 (+1%)	13mo	$15,000	$15	84
66 Spanish Way	0.11mi	2/2.0	984 (+1%)	14mo	$28,900	$29	79
23 Oro Grande Way	0.13mi	2/2.0	1,088 (+12%)	6mo	$45,000	$41	67
5 Espanola Ln	0.39mi	2/1.5	850 (-12%)	16mo	$33,000	$39	48
2999 Saltbush Ct	0.72mi	2/2.0	1,040 (+7%)	8mo	$176,000	$169	46

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: —
• Equity multiple: 10.23×
• Total profit: $77,534
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 21.00×
• Total profit: $168,002
• Equity at exit: $2,594

Cash invested: $8,400 (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 34952

• Home prices YoY: -29.6%
• Rents YoY: 1.9%
• Active inventory: 639
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $1,326

Break-even live

Break-even rent $262

Max offer price $29,999

Occupancy floor 27%

Sensitivity live

Price	-10% $1,347	-5% $1,336	+0% $1,326	+5% $1,316	+10% $1,305
Rent	-10% $1,173	-5% $1,249	+0% $1,326	+5% $1,403	+10% $1,479
Rate	-1.0pp $1,341	-0.5pp $1,334	base $1,326	+0.5pp $1,318	+1.0pp $1,310

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Bella Vista Way Port Saint Lucie, FL	1.0–2.0	1.0–2.0	995	$1,764	$1.77	14d	15	0.53mi
7700 Pine Lakes Blvd Port Saint Lucie, FL	1.0–3.0	1.0–2.0	1022	$1,878	$1.84	14d	16	1.18mi
3784 Sapodilla Ct Port Saint Lucie, FL	2.0	2.0	1121	$2,300	$2.05	24d	1	1.29mi
1810 SE Pinewood Trl Port Saint Lucie, FL	1.0–2.0	1.0–2.0	1013	$2,055	$2.03	14d	7	1.32mi
124 E Arbor Ave Port Saint Lucie, FL	3.0	1.0	964	$2,550	$2.65	14d	1	1.40mi
13 Lake Vista Trl #205 Port Saint Lucie, FL	1.0	1.5	800	$1,375	$1.72	24d	1	1.42mi
1811 SE Walton Lakes Dr Port Saint Lucie, FL	2.0	1.0–2.0	1117	$1,926	$1.72	14d	6	1.48mi
11 Lake Vista Trl #206 Port Saint Lucie, FL	2.0	2.0	1080	$1,400	$1.30	24d	1	1.49mi

Listing history 27 events

1. 2026-06-18
   days on market $29,999 Active 57 DOM
2. 2026-06-17
   days on market $29,999 Active 56 DOM
3. 2026-06-16
   days on market $29,999 Active 55 DOM
4. 2026-06-15
   days on market $29,999 Active 54 DOM
5. 2026-06-14
   days on market $29,999 Active 52 DOM
6. 2026-06-13
   days on market $29,999 Active 51 DOM
7. 2026-06-10
   days on market $29,999 Active 49 DOM
8. 2026-06-09
   days on market $29,999 Active 48 DOM
9. 2026-06-08
   days on market $29,999 Active 47 DOM
10. 2026-06-07
    days on market $29,999 Active 46 DOM
11. 2026-06-05
    days on market $29,999 Active 43 DOM
12. 2026-06-03
    days on market $29,999 Active 42 DOM
13. 2026-06-02
    days on market $29,999 Active 41 DOM
14. 2026-06-01
    days on market $29,999 Active 40 DOM
15. 2026-05-31
    days on market $29,999 Active 39 DOM
16. 2026-05-30
    days on market $29,999 Active 38 DOM
17. 2026-05-15
    price $29,999
18. 2026-05-04
    price $31,500
19. 2026-04-23
    listed $34,999 Active
20. 2025-07-24
    historical
21. 2025-06-20
    price $44,900
22. 2025-05-23
    price $25,000
23. 2025-01-23
    listed $44,900 Active
24. 2023-02-17
    historical
25. 2022-12-10
    listed $54,900 Active
26. 2010-06-28
    historical
27. 2010-04-03
    listed $10,000

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥106°F today · 20 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: $23,291
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$873
• Taxable income: $16,411
• Est. tax owed @ 24.0%: −$3,939
• After-tax cash flow: $11,973/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

• 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

+200.0% since first listed

11 events — show timeline

• 2026-05-15 Price Changed $29,999 Beaches MLS
• 2026-05-04 Price Changed $31,500 Beaches MLS
• 2026-04-23 Listed $34,999 Beaches MLS
• 2025-07-24 Listing Removed — Beaches MLS
• 2025-06-20 Price Changed $44,900 Beaches MLS
• 2025-05-23 Price Changed $25,000 Beaches MLS
• 2025-01-23 Listed $44,900 Beaches MLS
• 2023-02-17 Listing Removed — Beaches MLS
• 2022-12-10 Listed $54,900 Beaches MLS
• 2010-06-28 Listing Removed — Beaches MLS
• 2010-04-03 Listed $10,000 Beaches MLS