767 Altura St

River Park, FL 34952

$304,900D-

2 bd · 2.0 ba · 1,596 sqft · Built 1969 · SingleFamily · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,134/mo
• Mortgage (P&I): −$1,599
• Tax + insurance: −$559
• HOA: −$0
• Vac / Maint / Mgmt: −$448
• Net cashflow: $-472/mo
• Annual: $-5,659/yr
• Cap rate: 4.44%
• Cash-on-cash: -6.63%
• DSCR: 0.71
• 1% rule: 0.70%
• Cash to close: $85,372

Investor read

• This is a 2-bed/2.0-bath single-family listed at $305k.
• At list price, monthly cash flow is $-472 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (27.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (30.0% below list).
• It's been on market 15 days — a 2% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $213k (30.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#451 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: schools F, 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.
• Market conditions: Rents rising (+1.9%/yr); 639 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,868 units permitted in St. Lucie County in 2024 (268 in 5+ unit buildings).
• St. Lucie County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 15y 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 $74k; list at $305k implies a 312% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.4% vs local median 6.3% in River Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 42% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.